scam ll....wire transfers and checks.

[claybill]

wire transfers...everytime you write a check to someone your account number is on the check !.....so anyone who has your check has your account number. how can they draw money out of your account?

now that selling and buying is treacherous with scammers and cheats...

is cash money the only answer.....

my feeling is WAIT let time cash the check free and clear...

any other ideas ?

bill

[Norm's Coupe]

Bill,

Thats correct. If you send someone a personal check, they then have your account number and bank routing numbers. And yes, they can then use those numbers to either make up phony checks or electronically withdraw your money. Welcome to modern technology. That's why I only send money orders if I buy something off ebay, etc. It's also why I try not to buy off ebay, etc.

And yes, cash is the best. We don't have a time card or debit card tied to our accounts anymore. The only checks we write is to pay the bills. Everything else we buy is cash. About the only time we use a credit card is for ordering the wife's prescriptions and when on vacation.

If you give the check a good 30 days after you deposit it, it should have cleared by then. You can always verify when the check has cleared by calling your bank, or possibly the bank it was written on.

[oldmopar]

Cash is good if your the buyer now if you are the seller and when you get to the bank you find out its counterfeit then you lose again. The whole thing can make you crazy.

[48mirage]

With counterfiet money the US Treasury takes that very personal. They will be very anxious to find the ol' boy who gave you the funny money.

[oldmopar]

True but I will still be out the money and maybe a ebay deal could be tracked down. But other deals are I give you the money I get the car. No one ever asked me for any proof of who I am they just take the money.

[Normspeed]

But, I don't think they will reimburse you with real bills for the ones they confiscate from you.

[48mirage]

I'll bet when that "new" car gets registered some one will come a knocking.

[48mirage]

No, they won't replace the money, but there might be an opportunity to reclaim the car.

[JerseyHarold]

FWIW, when I sell stuff on eBay I refuse to take personal checks just because my account number, routing number, and signature are on the BACK of the check which then gets returned to the buyer.

Also, I bought a counterfeit-detector pen at Staples so any cash I get locally (like from selling on Craigslist or area classified boards) can be checked.

You can't be too careful these days!

[Norm's Coupe]

Bill,

I guess after all this discussion on the subject in both threads, in the end it's up to you.

We all may have sounded a little overly cautious. I don't know about the others, but I have good reason to be cautious. Back in 95 I was a victim of debit card fraud. It's very easy for that to happen. All my wife did was buy a pair of shoes at the mall for it to happen to us. The clerk wrote down the wifes number, then gave it to a friend who went on a buying spree at the Gap For Kids store. So........that pair of shoes ended up costing us right around $1,000 before they got caught. Yes, the bank and card company did eventually refund all the money. However, that took about 2 or 3 months and several trips to the bank to fill out paperwork, not to mention the trips to the DA's office. Luckily, we didn't have to go to court because the women pleaded guilty, so there was no trial. Otherwise, we would have had to make trips to court as a witness. That's when we canceled the debit card and time card, and went to cash for just about everything and limited the use of any credit cards.

Bottom line. No matter how you handle your sale you could end up on the short end of the stick. As mentioned, look into the ins and outs of each method with your bank. Also get as much information as possible on the individual buying your car. One thing you could do to help insure he's on the up and up is to ask for the name of his bank, the name of his banking officer that he contacts, the banks phone number and the account number he's writing the check off of. Once you have that, call that bank and get the bank officer on the phone. Then, explain why you are calling and give him all the information. They won't tell you how much money he has, but should tell you how long he's been a customer and if the account is in good standing. They will also tell you if he has enough money to handle a check in the size he'll give you. Before you call the bank he gives you, check to make sure it's really a bank in the location he said it was. That's easy, just call telephone information and ask for the general telephone number for that bank, in that location. That will verify if the bank is really where he claims it is, and the fact it is really a bank or not. In addition, the bank may even call their customer to verify your call. That's a good thing because if someone tapped into his account to make the buy, it will stop the possible fraud immediately. So really, it's protection for both of you. Also, keep in mind if the buyer is on the up and up he shouldn't mind you doing this.

[Captain Neon]

Why not only accept gold and silver coins in payment?

[claybill]

went to the bank and asked abut wire transfers......when they do that the bank does not reveal your account number if requested, to the buyer/seller.

also money from your account MUST be initiated from your bank. cant be from another place. seems like the best way so far..

the $$$$ arrives this afternoon and my beautiful car is GONE. this one might have been a mistake to sell. it is a beauty! but 7 years...spending money on it and ridin' it...hmmmmmm.. nope

bill

[Young Ed]

Bill which car did you end up parting with? I remember a while back you were trying to decide.

[BobT-47P15]

Ed, I think he's selling the P15 convertible.