Need Help ASAP Please (Wire Transfer ?) - Chicagoland Sportbikes
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post #1 of 21 (permalink) Old 08-22-2008, 10:40 AM Thread Starter

 
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Need Help ASAP Please (Wire Transfer ?)

So I've been dealing with someone for a little about buying my motorcycle. He's a WERA guy, seems legit, but from out of state. He has worked out shipping for the bike through that Ubid/uship process or whatever, where the truckers bid on additional cargo on their routes, and the guy is leaving tomorrow...so we had planned a cashiers check, but now wire transfer the money to my bank account as its last minute for the shipper. (no this is not Jabaro from Nigeria with extra money through Western Union).

My questions are:

Are bank to bank wire transfers ok when you don't know someone?

Could he possibly "take" his money back, for example say he never got the bike then have his bank reverse the transfer?

Anything I should do to make this safer for myself?

Any experiences like this?

Thanks in advance for any responses.
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post #2 of 21 (permalink) Old 08-22-2008, 10:42 AM
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I would never sell something to someone outside the states. you are setting yourself up for a scam.

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post #3 of 21 (permalink) Old 08-22-2008, 10:43 AM
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Quote:
Originally Posted by PolishPete View Post
So I've been dealing with someone for a little about buying my motorcycle. He's a WERA guy, seems legit, but from out of state. He has worked out shipping for the bike through that Ubid/uship process or whatever, where the truckers bid on additional cargo on their routes, and the guy is leaving tomorrow...so we had planned a cashiers check, but now wire transfer the money to my bank account as its last minute for the shipper. (no this is not Jabaro from Nigeria with extra money through Western Union).

My questions are:

Are bank to bank wire transfers ok when you don't know someone?

Could he possibly "take" his money back, for example say he never got the bike then have his bank reverse the transfer?

Anything I should do to make this safer for myself?

Any experiences like this?

Thanks in advance for any responses.
Quote:
Originally Posted by Drama View Post
I would never sell something to someone outside the states. you are setting yourself up for a scam.




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post #4 of 21 (permalink) Old 08-22-2008, 10:46 AM
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Wires are fine.

Yes he can reverse it, so take the money out.

Get it in writing that he will transfer, confirm receipt of transfer, remove the money. Get it in writing that he is buying it as is, NO REFUNDS, period.

Bill of Sale, etc...

So re the Wire

You need the following format to give his bank:

Credit to (BANK NAME) for the benefit of (ACCOUNT OWNER _ YOU)
BANK STREET ADDRESS
BANK CITY< ST< ZIP
ABA Routing Number for (BANK NAME) - #(ROUTING NUMBER)
Account Number – (ACCT (NUMBER)
INSERT NUMBER voice, INSERT NUMBER fax

===========
Great Quote - One would think that the Secret Service was smart enough to get serviced secretly.

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post #5 of 21 (permalink) Old 08-22-2008, 10:51 AM
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The best answer is to call your bank and ake them this question.

From wikipedia

http://en.wikipedia.org/wiki/Wire_transfer

Security
Bank-to-bank wire transfer is considered the safest international payment method. Each account holder must have a proven identity. Chargeback is unlikely, although wires can be recalled. Information contained in wires is transmitted securely through encrypted communications methods. The price of bank wire transfers varies greatly, depending on the bank and its location; in some countries, the fee associated with the service can be costly.

Wire transfers done through cash offices are essentially anonymous and are designed for transfer between persons who trust each other. It is unsafe to send money by wire to an unknown person to collect at a cash office: the receiver of the money may, after collecting it, simply disappear. This scam has been used often, especially in so-called Nigerian letters, also called advance fee fraud or 419 scams.

International transfers involving the United States are subject to monitoring by the Office of Foreign Assets Control (OFAC), which monitors information provided in the text of the wire to ascertain whether money is being transferred to terrorist organizations or countries or entities under sanction by the United States government. If a financial institution suspects that funds are being sent from or to one of these entities, it must block the transfer and freeze the funds.[4]


Methods

Western Union
One of the largest companies that offers wire transfer is Western Union, which allows individuals to transfer or receive money without an account with Western Union or any financial institution.[5] Concern and controversy about Western Union transfers have increased in recent years, because of the increased monitoring of money-laundering transactions, as well as concern about terrorist groups using the service, particularly in the wake of the September 11, 2001 attacks. Although Western Union keeps information about senders and receivers, some transactions can be done essentially anonymously, for the receiver is not always required to show identification.[6]

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post #6 of 21 (permalink) Old 08-22-2008, 10:51 AM Thread Starter

 
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Thanks for the quick responses guys. Any other opinions?
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post #7 of 21 (permalink) Old 08-22-2008, 11:32 AM Thread Starter

 
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Tripod, you're right, the best/first choice should be to call the bank...but...

There's just no pride in peoples work anymore. People used to be in professions and know everything about them. Now people jump from job to job so only learn what they need to to get by.

I called, asked the lady if she was familiar with wire transfers, she said oh yes, but then stumbled on everything and seemed very unsure of herself.

So I'm just looking for some opinions on people who have been through this.
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post #8 of 21 (permalink) Old 08-22-2008, 12:36 PM
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I wire transfer monthly. What remaining questions do you have?

===========
Great Quote - One would think that the Secret Service was smart enough to get serviced secretly.

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post #9 of 21 (permalink) Old 08-22-2008, 01:01 PM Thread Starter

 
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Quote:
Originally Posted by Wink View Post
I wire transfer monthly. What remaining questions do you have?
Is is safe to be giving this guy my bank info/personal info to complete the transfer? Not sure he could do much with it, but just not positive.

How long does it take for the money to be in my account/posted?

Thanks Wink.
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post #10 of 21 (permalink) Old 08-22-2008, 01:17 PM
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Wire transfers are seller preferable. Reversing a wire is very time consuming and often impossible if you don't have good relations with your bank. The transfer is close to instant as well. Since you're the seller I would recommend either doing it through wire, or if you are overly paranoid, use a service like escrow.com.
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post #11 of 21 (permalink) Old 08-22-2008, 01:18 PM
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Quote:
Originally Posted by PolishPete View Post
Is is safe to be giving this guy my bank info/personal info to complete the transfer? Not sure he could do much with it, but just not positive.

How long does it take for the money to be in my account/posted?

Thanks Wink.
The information you provide is about as useful as giving someone a check. Harm is possible but very unlikely. You should have the money showing in your account within the hour, but up to eight depending on the banks policies.
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post #12 of 21 (permalink) Old 08-22-2008, 02:34 PM
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Use Western Union, then there is nothing to charge back

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post #13 of 21 (permalink) Old 08-22-2008, 02:45 PM
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Quote:
Originally Posted by tripod View Post
Use Western Union, then there is nothing to charge back

YUP !


Western Union - cash in hand, he has no recourse.


Tom


I personally would NOT give that level of bank info to ANYONE
I didn't know well.

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post #14 of 21 (permalink) Old 08-22-2008, 02:51 PM
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If your that unsure about the guy don't sell to him

go time traveler style and go back in time, fuck his grandma, then shoot forward in time and then fuck his mom. Then return back to present state and call him a the product of two incest whores and hes your son and show video of you plowing the both members of his family. .
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post #15 of 21 (permalink) Old 08-22-2008, 02:54 PM Thread Starter

 
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Quote:
Originally Posted by C2M View Post
If your that unsure about the guy don't sell to him
I'm not that unsure of him. He's a WERA guy, seems very legit, but I'm just trying to cover all my bases.


Thanks to insomniac, tripod, wink and all you guys for the responses.
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post #16 of 21 (permalink) Old 08-22-2008, 03:13 PM
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My previous employer accidentally wired money on my bank account and they could not reverse the transaction, so they had to beg me to return the money.
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post #17 of 21 (permalink) Old 08-22-2008, 03:28 PM
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Quote:
Originally Posted by PolishPete View Post
I'm not that unsure of him. He's a WERA guy, seems very legit, but I'm just trying to cover all my bases.


Thanks to insomniac, tripod, wink and all you guys for the responses.
So he is a weras guy? he races and that has no bearing on his outside the track character. don't be blinded by that.

In all honesty I wouldn't sell to anyone out of state. second I would request a wire transfer thru western union that way the cash was in hand.

Good luck on the sale tho

go time traveler style and go back in time, fuck his grandma, then shoot forward in time and then fuck his mom. Then return back to present state and call him a the product of two incest whores and hes your son and show video of you plowing the both members of his family. .
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post #18 of 21 (permalink) Old 08-22-2008, 03:37 PM
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I bought my Tuono recently from a guy in CT and wired him the money from my bank. I had no problems at all. It's all about trust. If you trust the guy, then do it. You're the seller, so you have a lot less risk than I did.

Mike

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post #19 of 21 (permalink) Old 08-22-2008, 03:48 PM
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Make him aware that you have access to many firearms and that you're a crack shot, that will help convince him not to fuck with you. If you can gracefully slip into a conversation that you're able to castrate a squirrel at 300 yards without it dying, he probably won't cross you.

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post #20 of 21 (permalink) Old 08-22-2008, 05:00 PM
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I bought my KWS bike via wire transfer fwiw.

===========
Great Quote - One would think that the Secret Service was smart enough to get serviced secretly.

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post #21 of 21 (permalink) Old 10-21-2008, 02:41 PM Thread Starter

 
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Just wanted to update this thread for anyone searching on the subject later on.

The wire transfer went through fine, and the shipper picked-up and delivered the bike fine.
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