(Topic ID: 94506)

Is wiring money safe?

By Choggard

9 years ago


Topic Heartbeat

Topic Stats

  • 37 posts
  • 25 Pinsiders participating
  • Latest reply 9 years ago by Collin
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    #1 9 years ago

    I've got a guy that wants to wire me money, but I told him I've always used paypal. He said he doesn't have a PayPal account and has wired money before for a pinball. I called my credit union today and they advised me that if I don't know the person to use paypal. They said giving someone your account number and routing number to wire money might not be safe. My credit union said they could possibly make fake checks up using my bank account..

    Just wondering what most people do in this case? I've also been told cashiers check aren't the way to go either..

    Any thoughts?

    #3 9 years ago
    Quoted from jgreene:

    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.

    Yeah I understand that, but I want to know what the consequences are from a sellers stand point..

    #5 9 years ago
    Quoted from o-din:

    You get the money!

    That's a consequence?

    #10 9 years ago
    Quoted from srmonte:

    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.

    That's a great idea! Thanks! I knew someone would have an idea... So I create an account and send him my name and routing number/account number for that account and he can send the money to it.. Right?

    #13 9 years ago
    Quoted from wdpvideo:

    Yes that is correct

    Thanks!

    #15 9 years ago
    Quoted from mrbillishere:

    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

    I wonder why my credit union would say that, I guess anything can happen..

    #23 9 years ago

    Guy just called me and said his bank needs my address too.. I already gave him my routing number and account number.. Does all this seem normal?

    #34 9 years ago

    Thanks everyone for all your input. The bank wire went through today to my temporary account and i withdrew the funds and closed the account.. That seemed pretty simple. Now I will setup the shipping on the machine on Monday..

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