Is WireTransfer Safe for Domain Sales??

[jdenwar]

Hello everyone,

Recently I made a deal with a company based on Bahamas.
He first want to pay me on paypal, but i didnot allowed himm as its kind of risk.

How safe is Wire Transfer? I heard that it cannot be reversed..

Do you guys have made any deal with wire/bank transfer.. How safe is it..

Please advise..

Thanks
-James

 

[Sameh]

Yes, it cannot be reversed. the only risk is they will have your bank account details.


Why you don't use Escrow.com, Sedo or any other escrow service?

 

[Domagon]

Bank wire is very safe.

Bank transfer (ie. ACH deposit) not safe - is reversible much like PayPal is.

If the sales amount is under $2900, I'd suggest having the buyer pay with Western Union. Same benefits as bank wire (after pickup; do not transfer until after picking up the cash first), but more private - no banking info needed.

Ron

 

[jdenwar]

Thanks EG domains and Domagon for your quick help!. Rep+ for your time.

The buyer doesnot want to use Escrow.com, as he says.. "I will have to use bank wire or transfer. so it gets delayed.. for days and days.I want the domain fast"

I think I should go over with Western Union.

-J

 

[EGS]

Better watch out..he seems quick to buy and this is typical with scammers.

 

[tech4]

Do you have a purchase agreement, like ...buyer agrees to sell domain dot com for x amount to ....and seller makes the same agreement to sell.

Once you have the agreement in email it becomes binding.

then you check the whois, ask the buyer or seller to send an agreement via email. If the sale amount is large enough ask for an expedite written agreement with the address and confirmation to be sent within 1 day via expedite mail. The next day, you have the USPS confirmation, the physical address.

You have -written agreements
physical adresss-
match it with whois info
-get usps confirmation

should anything goes wrong if the amount is large enough you can actually track via usps confirmation and address along with paypal.

 

[barefoottech]

The buyer does not want to use Escrow.com

WARNING BELLS , Triple ALARM

You are selling the name , You make the Transaction Rules.
Plus I wouldn't use Western Union either.

 

[jdenwar]

WARNING BELLS , Triple ALARM

You are selling the name , You make the Transaction Rules.
Plus I wouldn't use Western Union either.

Thanks BarefootTech for your alarm.

Is Western Union Safe?

I wont push the domain until I receive full money in my pocket.....

:red:

 

[VisionEdger]

If the buyer is willing to pay for the domian via Wire transfer do it as its as good as cash to you. As soon as it hits your acct. withdraw the funds because in some countries there is however a grace period where the sender can reverse the w/t within say a week of the transfer only IF that is in the banking laws from the sender country.


WT is cheap and fast if you are receiving the $ it has 0 risk to you. The risk is for the SENDER!!

 

[interestedenough]

Be careful to give your bank information, once a scammer has that information, they might be able to clean your bank account.

 

[cache]

watch out. They may ask you to refund small part of the money before you receive the funds.

 

[DomainNameWire]

My take is don't go through with it if they don't want to use Escrow.com. You can complete an escrow.com transaction in literally 1 day.

 

[labrocca]

Don't do it imho. Or at least open a new account somewhere with like $10. Do not use your regular checking account.

This sounds like a real scammer to me. Anyone in a hurry to get a domain is full of crap. There is no such thing as "need right now" for domains. Does he have a site built already? I doubt it. Tell him to start escrow and you can alter DNS for him so site can go where he needs.

 

[mjnels]

bank wire transfer = as good as cash AND even safer than escrow.com for the seller.

not sure what all these other people are going on about... just wait until the wire hits your account and is cleared the "pending" phase, and then maybe wait another 2 days for good measure.

 

[Domagon]

Do you have a purchase agreement, like ...buyer agrees to sell domain dot com for x amount to ....and seller makes the same agreement to sell.

Once you have the agreement in email it becomes binding...

Good luck trying to sue a scammer, let along collecting. Or suing and collecting from someone who basically owns little to nothing.

But even if the other party is legit and has assets, enforcing a purchase agreement may be prove difficult unless one has already received a deposit on the purchase.

On a related note, requiring lots of paperwork is a sure way of losing a lot of sales - many buyers prefer a quick, confidential, no hassle transaction.

In regards to PayPal, sending some paperwork, such as a contract, with signature confirmation that can be tracked on-line may qualify the sale under PayPal's Seller Protection Policy (SPP).

However, SPP is not a sure thing, since the "item" (the domain) itself is intangible - PayPal could potentially try to weasel out paying, especially in a chargeback situation; that can happen upwards of a year later!

Ron

 

[VisionEdger]

Be careful to give your bank information, once a scammer has that information, they might be able to clean your bank account.

This is a total crap statement!

I am an exporter and in 10 + years have given my companies bank info to hundreds of people and NOT 1 ISSUE! This is simply a statement made out of ignorance of how banking works and mass fear !

Ill give you my bank info now and lets see who can access the acct. Get REAL man!

 

[mjnels]

i mean, people can try stuff with your account information... could always make fake checks or something.. but most banks protect against this sort of nonsense so you wouldn't be liable.

bank wire transfer IS the closest thing you can get to paying somebody in person with real cash... anyone who says otherwise doesnt know what they're talking about.

 

[jdenwar]

I agree with that What can a guy can do with my bank details.....
He will need my full name, account number and zip code....
Is it kind of risk....

so BANK WIRE TRANSFER IS SAFE.. right????

 

[mjnels]

its safer than escrow.com for a seller.... because there are some tricks that can be pulled with escrow... way more tricks than a bank wire transfer.

i too have received many bank wire transfers over the years and never a problem. i've come across several people in other countries who prefer this method and are willing to trust me and sometimes dont even really know me.

just make sure it is a bank wire transfer and not a cash/check deposit at the counter like somebody said above. if you cannot tell from you account details online - just call your bank and they'll tell you.

 

[VisionEdger]

I agree with that What can a guy can do with my bank details.....
He will need my full name, account number and zip code....
Is it kind of risk....

so BANK WIRE TRANSFER IS SAFE.. right????

Look mate you still have to give them your name , bank acct, # bank address, aba routing #, swift code of course to accept the wt.

This is standard operating procedure people to accept a wire!

If you are so paranoid and unsure what a basic wire is about tell your bank what you want to do and they will help you understand the prodcdure.

When the sender wires the funds to you simply ask for their bank confirmation that its done so you know it is done.

If people wre willing to send me wire transfers for domains I would accept them all day long no questions asked!

Simple simple simple!