Method of payment?
Racer
Joined: Dec 2007
Posts: 354
Likes: 4
From: Grand Ledge Michigan
Advice for all
I used to print checks for a living. You would not believe how incredibly easy it is to forge incredibly good looking and functional checks with a bit of knowledge. 2008 technology makes it stupid-easy. My daughter works at a bank and runs into forged checks everyday.
WIRE TRANSFER ON LARGE AMOUNTS, POSITIVE I.D. OR CASH ON ALL OTHERS!
WIRE TRANSFER ON LARGE AMOUNTS, POSITIVE I.D. OR CASH ON ALL OTHERS!
Thread Starter
Drifting
Joined: Oct 2005
Posts: 1,507
Likes: 7
From: Palmetto FL
St. Jude Donor '07
wire transfer
How does the wire transfer process actually happen when the buyer agrees to buy my car? I'm sure he won't pre-wire the money before he even sees the car, so how does the money get into my account once he buys the car? I called my bank to get some info and their policy is that the person requiring the transfer must be at the bank at the time of the transfer, so if his bank has the some policy, the wire transfer won't cut it.
Drifting
Joined: Nov 2001
Posts: 1,658
Likes: 25
From: Rochester Minnesota
How does the wire transfer process actually happen when the buyer agrees to buy my car? I'm sure he won't pre-wire the money before he even sees the car, so how does the money get into my account once he buys the car? I called my bank to get some info and their policy is that the person requiring the transfer must be at the bank at the time of the transfer, so if his bank has the some policy, the wire transfer won't cut it.
The only other way is to require a certified check and then call the issuing bank to be sure it's good before signing the title over and giving the keys to the buyer. This is what I did when I sold a car on-line. I had also done some on-line searching to be sure the buyer lived where he said he did.
Thread Starter
Drifting
Joined: Oct 2005
Posts: 1,507
Likes: 7
From: Palmetto FL
St. Jude Donor '07
I suggest you go to your bank and talk to a manager. When I bought my AE on E-bay, I went to my bank and pre-arranged and signed a wire transfer to the seller's bank account. However, my bank did not execute the wire transfer until I called them AFTER I had inspected the car. Thirty minutes after I called my bank and authorized the execution, the seller had his money.
The only other way is to require a certified check and then call the issuing bank to be sure it's good before signing the title over and giving the keys to the buyer. This is what I did when I sold a car on-line. I had also done some on-line searching to be sure the buyer lived where he said he did.
The only other way is to require a certified check and then call the issuing bank to be sure it's good before signing the title over and giving the keys to the buyer. This is what I did when I sold a car on-line. I had also done some on-line searching to be sure the buyer lived where he said he did.
Thanks for shedding some light on the transfer process. Thanks.
Safety Car
Joined: Mar 2007
Posts: 4,353
Likes: 541
From: Sarasota FL
St. Jude Donor '25-'26
I used a debit card. The seller and I went to my branch bank located in another state. I gave them my debit card and the bank issued the seller a cashiers check. Worked great. I live in Minnesota and I bought the car in Sacramento, Ca.
