Bank wire transfers

[mrtoni]

Hey guys. I bought a really nice 1969 Suburban about 500 miles from me off ebay. The seller says $500 deposit by paypal within 24 hours and the balance by bank wire transfer within 72 hours. Ive never done a wire transfer and am wary. Ive talked to him and gotten add'l pictures etc but would rather go through ebay or paypal in case the truck is not as described.

Ive read on the board that bank transfer is the way to go for sellers but what about buyers?

in the auction it says paypal, cash in person, wire transfer etc but in his listing he says wire transfer. I don't want to back out of deal either.

http://img.vast.com/320x240/-2175456129249049943

Matt in Reno

[pwrbrkpadguy]

Originally Posted by mrtoni

Hey guys. I bought a really nice 1969 Suburban about 500 miles from me off ebay. The seller says $500 deposit by paypal within 24 hours and the balance by bank wire transfer within 72 hours. Ive never done a wire transfer and am wary. Ive talked to him and gotten add'l pictures etc but would rather go through ebay or paypal in case the truck is not as described.

Ive read on the board that bank transfer is the way to go for sellers but what about buyers?

in the auction it says paypal, cash in person, wire transfer etc but in his listing he says wire transfer. I don't want to back out of deal either.

http://img.vast.com/320x240/-2175456129249049943

Matt in Reno

Hi Mrtoni, I bought my 65 sight unseen and did a Wire transfer for $13500.00 This was much to my personal bankers dismay. It is a big chance to take. You can really get burned. I did it successfully only because of 3 weeks of constant communication by phone and many pictures. I also had my bank talk with his bank to kind of feel him out and make sure the guy was Kosher. It all worked out perfect. However it could have gone the opposite way. If it goes bad your just SOL! Good luck be careful and take your time, you can't be pressured by a time deadline or well you know! Mike.

[Fitz]

Originally Posted by mrtoni

Hey guys. I bought a really nice 1969 Suburban about 500 miles from me off ebay. The seller says $500 deposit by paypal within 24 hours and the balance by bank wire transfer within 72 hours. Ive never done a wire transfer and am wary. Ive talked to him and gotten add'l pictures etc but would rather go through ebay or paypal in case the truck is not as described.

Ive read on the board that bank transfer is the way to go for sellers but what about buyers?

in the auction it says paypal, cash in person, wire transfer etc but in his listing he says wire transfer. I don't want to back out of deal either.

http://img.vast.com/320x240/-2175456129249049943

Matt in Reno

Wire transfers are irreversible and if the seller has an account set up that has no other funds he can close it the moment the transfer is made and be in the wind with no hope of ever tracking him down. Send an e-mail requesting his address and phone and tell him you will pay in person. If he hesitates, or has some excuse as to why that is not possible walk away, then report the transaction to paypal and e-bay as a fraud. You won't get your deposit back but you won't lose any more funds either.

[mrtoni]

Thanks. I'm wary. He's a young kid. Feedback score of 51 with 100% positive on eBay. No landline. I emailed him that I would PayPal or fly up with cash. Hopefully not to get robbed though. Matt

[pwrbrkpadguy]

Originally Posted by mrtoni

Thanks. I'm wary. He's a young kid. Feedback score of 51 with 100% positive on eBay. No landline. I emailed him that I would PayPal or fly up with cash. Hopefully not to get robbed though. Matt

You need to talk on the phone to him to see if he stumbles like Fitz says. Emails suck no way to tell if he is up to something. Don't go alone either. Take a friend. One that won't hesitate when you need them. This world is sick be careful.

[hilltop55]

As a former NJ Trooper/Detective for 25 years you need to be very careful with this one. I've personally investigated many cases involving craigslist fraud and in a few cases robbery and even murder. Wire transfers are final and remember any transaction over 10k generates a CTR, (currency transaction report) and possibly a SAR, (suspicious activity report) if you're seller is "in the system". I would go in person with a friend and most police stations are encouraging citizens to conduct craigslist transactions in their parking lots (police + cameras = safety). Google craigslist crimes and get a education. As a rule of thumb, NEVER wire $$ to someone you dont know. Read this link, this is a recent case.

http://myfox8.com/2015/01/27/man-cha...st-car-couple/

[terry b]

Never trust anyone. I would go with cash and a hand gun and use the one you need. I NEVER let anyone close that i dont know well.

[Ironangel]

Why not go get it yourself within the 72hr's?...

[Aruba1]

If you do not feel comfortable doing this transaction then DON'T do it! I would meet with him and with the cash in hand. Where is he located? If it's close enough maybe someone can go and take a look at the truck. Oh, and meet in a public area, police station, bank, etc.

[Aruba1]

Here is another CL horrifying story: http://www.cnn.com/2015/03/19/us/cra...-baby-removed/

I deal on CL all the time, usually a couple of times a month to a couple of times a week. I have met some "interesting" folks but the key is to be respectful and careful and let someone know at all times where you will be and how long you will stay there. Even met a guy one time with a gun, seen a seller's helper conducting a drug transaction about 20' feet away, to walking in a remote garage with three guys, etc. Whatever you do, make sure you are comfortable at all times and if not, find a clever excuse to get out of the situation, sometimes, in these situations, you can't be honest and never even remotely insult the seller or what he is selling. Just my 2 cents.