What is wire transfer?

  1. I've heard about this method of payment to be "preferred" for larger amounts...

    does anyone know why or how is it safer for us?

    Would you guys recommend wire over paypal?

  2. Its just transfering money from your bank account to an overseas bank account
  3. Don't do it. Its transfering money from your bank account to theirs. There is basically no trace and no protection. I always pass on anything that wants only wire transfers.
  4. I would only use this method for someone i totally trust - and eBay does not come in to that category, IMO.

    eBay UK has banned the use of wire transfer payment methods simply because there were too many cases of sellers running off with innocent buyers money...and as bagsforme said^ there's no trace or protection.

    Better to use Paypal, or a credit card - at least you have some comeback.:yes:
  5. It doesn't have to be overseas. I would do it if you are the one receiving the money. I wouldn't pay for something that way. You would have to have all their banking information or vice versa to do one.
  6. NEVER do a wire transfer on eBay. It's not safe and you're not protected. If the seller scams you, your only recourse is to leave a neg. and that does nothing to get your money back.
  7. NEVER pay anyone by wire transfer. NEVER!!! There is absolutely no way of tracking your money. The seller can just run off with your money and send you nothing in return. It doesn't matter if you pay Western Union with your VISA or AMEX, you cannot dispute the fraud because you used a third party payer who had nothing to do with the sale.

    Basically you are handing off your cash to a complete stranger who's identity and whereabouts are unknown. It's like handing a stranger on the street a wad of cash and asking him to bring you back a purse from the boutique down the street. I know you would never do that.

    :heart: :heart: :heart: