My best buddy is selling his prize 1955 Eldorado cadillac on E bay. Needs money to bail out his kids mortgage. Buyer says I will pay with wire transfer to his bank account. Is this recipe for disaster? Is there a way buyer can do wire transfer and then renege, somehow getting car and his money back, too.? I am very reluctant to advise but feel I have to say something. What do you think? Would a lawyer be able to protect him? Thanks so much, Dave.
- Thread starter barn E
- Start date
I am not a lawyer or banker, but I frequently
do wire transfers. I have to give a routing
number and bank account number when sending
money bank account to bank account. When I
send money this away I don't see how I can
renege. The same for receiving. Just to be
sure If I were you I would go to your local
bank and ask the manager. Tell him (her) the
same thing you have posted.
ps. the routing number and account number
appear on the bottom of check.
do wire transfers. I have to give a routing
number and bank account number when sending
money bank account to bank account. When I
send money this away I don't see how I can
renege. The same for receiving. Just to be
sure If I were you I would go to your local
bank and ask the manager. Tell him (her) the
same thing you have posted.
ps. the routing number and account number
appear on the bottom of check.
evilboweviel
Member
have done this before
very safe
Ron
very safe
Ron
MarkB_MI
Well-known Member
- Location
- Motown USA
eBay allows bank-to-bank wire transfers for certain categories, including motor vehicles.
I would suggest that your friend be absolutely certain who he is dealing with, then proceed. For example, if he has called the buyer and talked to him, and that same phone number is also listed in the buyer's name, it's a pretty good bet that the buyer is legit. If the buyer doesn't want to talk on the phone, or perhaps claims to be deaf, then he needs to be suspicious. If the buyer only has a cell phone or an unlisted number, then that is suspicious as well.
I would suggest that your friend be absolutely certain who he is dealing with, then proceed. For example, if he has called the buyer and talked to him, and that same phone number is also listed in the buyer's name, it's a pretty good bet that the buyer is legit. If the buyer doesn't want to talk on the phone, or perhaps claims to be deaf, then he needs to be suspicious. If the buyer only has a cell phone or an unlisted number, then that is suspicious as well.
Don't give your wire transfer info to him, ask him for the name, town and number of his bank, and give the info directly to the bank. Just to be safe, call telephone information to get the phone number for his bank, to ensure that he didn't give you a fake number to a friend of his, who would take your information and then "take" you.
Have them generically wire to your bank in your name then transfer it to your account, and have the bank lock the account down to any big transfers or start a generic account just for this transfer. Bank to bank. This is how I would do anything anymore with all the fake instruments out there.
Similar threads
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today.
Copyright © 1997-2024 Yesterday's Tractor Co.
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
Yesterday's Tractors - Antique Tractor Headquarters
Website Accessibility Policy