Buyer wants to do wire transfer, Is that safe for me?

Barmakianbags · Jul 24th, 2008, 12:51 PM

I have a buyer who purchased two bags from me. They seem to be having problems with their paypal account and asked if we could just do a wire transfer. I have never done this before. I think i remember reading that this is safe for seller and not for buyer. Im not sure. Any input on this would be great. And can someone tell me how i would go about doing this? Thank you!

CallMeObsessed · Jul 24th, 2008, 01:02 PM

I had a buyer want to do this before as well and I wouldn't do it. They had 0 FB and all I've heard are how you are not to do it, so I stayed away from doing so. I would maybe call your bank and ask about it if you are seriously considering it.

ShoeFanatic · Jul 24th, 2008, 01:41 PM

I've done it once to London..because I wanted the item SO bad and for so long..
shortly after the transaction the member became unregistered and the
tracking # was showing it was sent to Germany..
I thought for sure I was being scammed..
she turned out to be the one the nicest members..
even called me and tried to ease my fears..
I received my item, I don't know why tracking showed to Germany..
I had a good experiance..but I've heard of bad..

ladyisobel · Jul 24th, 2008, 01:45 PM

yup, its pretty safe for the seller, no fear of chargebacks either ! you might get charged a fee if its international though, i've paid this way and been paid this way and never had any probs .
the info you give to them is pretty much the same as whats on the front of a cheque, just phone your bank and ask what info you need to give the buyer ie BIC and IBAN codes (for international )

i'm sure some will say differently though

prisca · Jul 24th, 2008, 02:49 PM

^^^
what she said...safe for the seller. This payment method is common in Europe, more so than Paypal.

livethelake · Jul 24th, 2008, 04:02 PM

It's absolutely safe and quite frankly, I prefer it over paypal. No chance of charge back, the fee to accept a wire transfer is small (my bank does not charge for domestic wire transfers and only $15 for an international transfer.)

My only suggestion is that you make sure that your buyer instructs her bank to charge her directly for her fee to send the transfer. Some banks will automatically deduct their fee from the amount being transferred. If this happens, your payment will be short.

Just call your bank and ask them what information you need to receive a wire transfer. The bank will give you all the info necessary.

Good Luck!

Barmakianbags · Jul 24th, 2008, 05:02 PM

THank you everyone for your help! I appreciate it!

declaredbeauty · Jul 24th, 2008, 07:56 PM

I've always wondered this: If you do a wire transfer to your bank account, is this your checking/savings account number? Or another number?

alliemia · Jul 24th, 2008, 08:02 PM

isn't there a concern with the wire transfer initially going through, but then 'bouncing' as in a bad check. or is that not an issue? i think i'd stick to paypal, as i don't know enough about wire transfers. even if you take the money out right away, if it's a 'bad account' or whatever, i think it can bounce back at you.

skigirl73 · Jul 24th, 2008, 11:22 PM

If you have the buyer send it through Western Union you don't have to provide your banking info. They just need your name, city and state, country, and a contact#. You can then go to WU and pick up the cash, and the fee goes to the buyer not you. It's perfectly safe and no risk to you. I've accepted WU before and it's really easy. I wouldn't give out my banking info, so this is a great alternative.

Jul 24th, 2008, 12:51 PM	#1
Barmakianbags Member Joined: Mar 2008 Location: California Posts: 1,299	I have a buyer who purchased two bags from me. They seem to be having problems with their paypal account and asked if we could just do a wire transfer. I have never done this before. I think i remember reading that this is safe for seller and not for buyer. Im not sure. Any input on this would be great. And can someone tell me how i would go about doing this? Thank you! __________________ ~God grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference~ Looking For Marc Jacobs Petrol Elise Marc Jacobs MP Amythest Marc Jacobs Emerald Bleecker If you see any of these on eBay Please PM me!

Jul 24th, 2008, 01:02 PM	#2
CallMeObsessed Member Joined: Oct 2007 Location: Midwest ~ Illinois Posts: 49	I had a buyer want to do this before as well and I wouldn't do it. They had 0 FB and all I've heard are how you are not to do it, so I stayed away from doing so. I would maybe call your bank and ask about it if you are seriously considering it. __________________ STEPH

Jul 24th, 2008, 01:45 PM	#4
ladyisobel Member Joined: Mar 2006 Location: devon uk Posts: 1,193	yup, its pretty safe for the seller, no fear of chargebacks either ! you might get charged a fee if its international though, i've paid this way and been paid this way and never had any probs . the info you give to them is pretty much the same as whats on the front of a cheque, just phone your bank and ask what info you need to give the buyer ie BIC and IBAN codes (for international ) i'm sure some will say differently though __________________

Jul 24th, 2008, 04:02 PM	#6
livethelake Member Joined: Feb 2006 Posts: 2,797	It's absolutely safe and quite frankly, I prefer it over paypal. No chance of charge back, the fee to accept a wire transfer is small (my bank does not charge for domestic wire transfers and only $15 for an international transfer.) My only suggestion is that you make sure that your buyer instructs her bank to charge her directly for her fee to send the transfer. Some banks will automatically deduct their fee from the amount being transferred. If this happens, your payment will be short. Just call your bank and ask them what information you need to receive a wire transfer. The bank will give you all the info necessary. Good Luck! __________________ So I whipped out my credit card and ordered it............

Jul 24th, 2008, 05:02 PM	#7
Barmakianbags Member Joined: Mar 2008 Location: California Posts: 1,299	THank you everyone for your help! I appreciate it! __________________ ~God grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference~ Looking For Marc Jacobs Petrol Elise Marc Jacobs MP Amythest Marc Jacobs Emerald Bleecker If you see any of these on eBay Please PM me!

Jul 24th, 2008, 01:41 PM	#3
ShoeFanatic Member Joined: Sep 2006 Posts: 94	I've done it once to London..because I wanted the item SO bad and for so long.. shortly after the transaction the member became unregistered and the tracking # was showing it was sent to Germany.. I thought for sure I was being scammed.. she turned out to be the one the nicest members.. even called me and tried to ease my fears.. I received my item, I don't know why tracking showed to Germany.. I had a good experiance..but I've heard of bad..

Jul 24th, 2008, 02:49 PM	#5
prisca Member Joined: Mar 2006 Posts: 229	^^^ what she said...safe for the seller. This payment method is common in Europe, more so than Paypal.

Jul 24th, 2008, 07:56 PM	#8
declaredbeauty LV.Chanel.JC <3 Joined: Nov 2007 Location: Southern California Posts: 545	I've always wondered this: If you do a wire transfer to your bank account, is this your checking/savings account number? Or another number? __________________ To Buy List: LV Mahina XL or XXL, Damier Azur Berkeley, Keepall 55 or 60, & of course Galliera GM.

Jul 24th, 2008, 08:02 PM	#9
alliemia purse-crazy mommy Joined: Jun 2008 Location: NY Posts: 328	isn't there a concern with the wire transfer initially going through, but then 'bouncing' as in a bad check. or is that not an issue? i think i'd stick to paypal, as i don't know enough about wire transfers. even if you take the money out right away, if it's a 'bad account' or whatever, i think it can bounce back at you.

Jul 24th, 2008, 11:22 PM	#10
skigirl73 Member Joined: Jun 2007 Location: Denver, CO Posts: 1,161	If you have the buyer send it through Western Union you don't have to provide your banking info. They just need your name, city and state, country, and a contact#. You can then go to WU and pick up the cash, and the fee goes to the buyer not you. It's perfectly safe and no risk to you. I've accepted WU before and it's really easy. I wouldn't give out my banking info, so this is a great alternative. __________________ 20% off Xengevity for tPF members. Contact me to find out how. www.myxengevity.com/vickibruno