Once you send money via a wire transfer its gone. Unlike Paypal there is no protection through the bank if something goes wrong and the seller rips you off.

You get the money!

I need to learn to read better

create an account just for wire transfers inbound and outbound. I never accept paypal, because buyers screw over sellers. Make the seller give you a bill of sale with your purchase. Then like I said create an account for transfers. My credit union requires that I keep 25.00 in my account to keep it open.

Its safe… nothing is 100% foolproof but bank wires are relatively safe and happen 1000's times a day.

See below, its a joke to help this stooge.

Yes that is correct

I agree with Tony. I will add that a banks routing info for wires isn't usually the same as what is listed at the bottom of your checks so it would take a little more work for someone to forge your checking account. As a seller, a real time bank transfer is quite safe compared to other means. GLWTS

Yes, I have done it many times

I always pay and get paid by postal money orders. Never had a problem. Ed

I've never had a problem getting money or sending via bank wire. All the pinsiders I've dealt with have been great people

If you're selling, you make the rules. If you don't want to do a wire transfer (or aren't comfortable with it), don't. But like others have said, it is likely safer than some other options.

I like postal money orders and use them often. But they can be cancelled by the person who bought them. The Post Office will in theory verify that a money order is valid if you call a phone number, but it is not clear how prompt they are in updating there system.

Your bank will treat the money order like a check and credit your account immediately, but it will be several weeks for the money order to clear just like with a check.

Though I have not seen anyone mention it happening to them, I would think that an unscrupulous buyer could send you a Postal money order and either cancel it that day or wait to hear from the seller that they just deposited the money order at a bank (The buyer would just go to the Post Office with their receipt and say they lost/destroyed the original money order and new ones with different numbers would be issued to them and the originals cancelled.)

By this point you would have likely shipped the pin and are left trying to get your money from the seller once your pin is gone.

In theory the Post Office will cash a money order for you, but they are not going to have that kind of cash on hand for a pinball purchase unless you are in some usual area where a bunch of people are coming in with lots of cash to buy money orders. So I think the only really safe way to to take a postal money order is to treat it like a personal check and wait the required amount of time to verify the it has actually cleared the bank.

I have bought and sold $20k plus watches using wire transfers many times. As a seller, they are probably the safest form of payment you can receive after actual cash. Once the money lands in your account it is there to stay unless there is provable fraud like that the money was sent by someone who wasn't the account holder, but I've never heard of this happening. Banks take this stuff pretty seriously.

PayPal is a lot less safe for sellers, especially where credit cards are involved. I pretty much never accept it for large purchases unless the buyer is someone I know and trust 100% and they are willing to pay the fees.

This isnt correct, the routing number is the same as whats listed on your checks. Thats how the check makes it back to your account when its deposited else where. The number on the deposit slip where the routing number is on the check isnt the same, and sometimes banks do have different routing numbers for incoming wires.

he needs the address of the bank - not your address - although he needs your address for the shipping company anyway. receiving money by wire is the safest thing there is for the seller. for the buyer he is the one taking all the risks as once the money is sent he can't call it back

thanks ed

Yes this is standard. Both the bank and the recipients address. Anti-money laundering laws since 911.

Wire transfer is definitely safe for you, the seller.

Also, when you send anyone a personal check, your address, routing and bank account number are clearly visible.
So I'm not really sure why your Credit Union was concerned.

Marcus

I recently wired $ for the first time, buying a new pin. $30 fee, which the seller offered to pay. I did need a special wire routing # from his bank, not the one on his checks. I also asked him for a photo of his driver's license for ID since he was a Pinside stranger to me. It went through the same day and the pin shipped quickly rather than waiting for $ to clear. IMO, the buyer takes all of the risk with a wire transfer.

Inbound wire transfers are completely safe for the seller. I have been accepting them for over 7 years with customers from many different countries as well as US customers. I use a different account at a larger bank for the International wires because my own bank doesn't have a SWIFT number. I also send wire transfers several times a month.

I have never lost any money from them. Nobody has ever faked my bank accounts and sucked money out of them.

I have lost money from PayPal fraud a few times and credit card fraud more often than that.

I don't think your credit union knows much about wire transfers. That is more of the function that a bank offers and larger banks have better connections and better experience.

You do need to tell the sender that they must pay all transfer fees. When I started doing this, I found that there are options for the sender to pay the fees, the recipient to pay the fees, or you both split the fees. That could cost you about $50.

Domestic transfers should happen within an hour. International transfers can take several days. You also need to specify currency for International transfers.

I'm going through an international wire transfer myself now too as a seller.

I just got this info from my bank yesterday.

What's needed:

Beneficiary: Bank name and address receiving the funds
ABA #: This my bank's number that they use for money wires
Account #: This is my account receiving the funds
My name
My address

Couple things:

If you belong to a smaller bank or credit union it has to go through a large bank first (exp. Chase) if it's an international money wire - they give you a special code for that bank.

The buyer needs to have guaranteed funds in his account for a period of time prior to the money wire. They will not wire the money if that amount was just put in the account prior to the wire.

"If you belong to a smaller bank or credit union it has to go through a large bank first (exp. Chase) if it's an international money wire - they give you a special code for that bank".

That explains why I have been unable to wire transfer to PBR!!

nope not safe at all, the bank takes a cut-

Wire me some money and I will let you know if it is safe .

I did this a number of years ago when I sold my BBB spot to someone in Australia. My bank set up a temporary account that the money was wired to. As soon as the money was received into that account, it was transferred to my regular account and the temporary one was closed.

Just for comedy's sake, I think it would be funny if you had posted that now that you've received the money and it's non-returnable, that you're keeping the machine and screwing the buyer.
I kid! I kid!!!

That probably entered his mind. I wouldn't be shocked if he acted on that. Scamming asshole.

Another sale that involves you shipping a game to someone, eh? Who's getting fucked next?