Question bout Wire Transfers - Jemsite
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post #1 of 6 (permalink) Old 10-05-2010, 12:34 PM Thread Starter
 
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Join Date: Aug 2007
Location: Richmond VA, USA
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Question bout Wire Transfers

I have never done one and have only heard about them. A dude in Holland wants to buy my BSB and have me ship it to his friends in NYC. He does not have paypal and wanted to send a personal check but I said no to that.

How safe are wire transfers? What are the pros and cons if any of either. I am in no hurry to sell or trade the BSB.

Would like Western Union be how a wire transfer takes place or direct to bank account. i will not give my bank info out.

He is not a very long standing member of Jemsite but has said he has bought from Rich and had him ship them to NYC friends.

Basically I don't want to get scamed and since I have no experience with Wire Transfers I thought I would ask my Jemsite friends for advice on this.

Thanks,
Cos
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post #2 of 6 (permalink) Old 10-05-2010, 12:58 PM
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Re: Question bout Wire Transfers

Sounds like Martin, you'll be fine.
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post #3 of 6 (permalink) Old 10-05-2010, 01:00 PM
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Re: Question bout Wire Transfers

As long as you actually receive the funds, make sure to ship the BSB with delivery confirmation, insurance, etc. I would never send wire transfer payment, as there's no way to prove the seller recived it, but as a seller--I'd do it as long as I actually received payment.



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post #4 of 6 (permalink) Old 10-05-2010, 01:35 PM
 
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Re: Question bout Wire Transfers

A comment on the side, perhaps, but in this part of the world wire transfer is the only thing we use. PayPal and checks are "outdated". There is a chance the US and scandinavian banks treat wire transfers differently, but I can't see why it should be a hassle for you.

Make sure to find out if your bank charges anything for international wire transfers. You don't want to get hit by charges after payment is completed.
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post #5 of 6 (permalink) Old 10-05-2010, 02:22 PM
 
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Re: Question bout Wire Transfers

How strange the world can be!

Last time i bought a guitar in the U.S. the seller incisted a wire transfer,while i sugested paypal.

as long as the payment is fullfilled whats the deal?
First cash,then send
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post #6 of 6 (permalink) Old 10-05-2010, 06:03 PM
 
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Re: Question bout Wire Transfers

Quote:
Originally Posted by The Euphor View Post
A comment on the side, perhaps, but in this part of the world wire transfer is the only thing we use. PayPal and checks are "outdated". There is a chance the US and scandinavian banks treat wire transfers differently, but I can't see why it should be a hassle for you.

Make sure to find out if your bank charges anything for international wire transfers. You don't want to get hit by charges after payment is completed.
+1 International checks are costly to cash in and not worth the paper they are printed on. Paypal has its flaws and costs. A bank transfer to a satellite account (not your main account - a separate account limited to online trading) is the best way to seal a deal. Please remind the payer to tick the box "sender" when it comes to the bank charges or you will not receive the full amount. I have seen this many times...

And that's coming from a reformed corporate banker!
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