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Wire Transfer??
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Author:  ftgokie [ Fri Mar 16, 2012 6:57 am ]
Post subject:  Wire Transfer??
Let me ask this.

If you use a wire transfer, you give them your bank routing number, and your account number.....I dont see how this is more secure because what is to say this person that has your bank info now, goes online and buys something using an online check?

I worked for 2 yrs in Direct Deposit for the Dept of Veterans Affairs and I cant tell you how many times I seen what can happen when an unauthorized person uses your bank rt # and acct #.


I have never used wire transfer so is this really more secure?
Author:  mboverst [ Fri Mar 16, 2012 7:47 am ]
Post subject:  Re: Wire Transfer??
Most dealers have a separate account set up for this with the minimum deposit in the account. Once the funds hit, they transfer into another checking account. Worst case, you send your wire transfer information and they use it to buy something or ACH the money out, it's usually covered by your banks fraud policy.
Author:  mfserge [ Fri Mar 16, 2012 9:46 am ]
Post subject:  Re: Wire Transfer??
When I give out my wire info to a prospective buyer I provide the bank info for an account that I usually keep less than $300 in. If I get jacked for $300 then so be it. As soon as I get the wire I withdraw the funds immediately leaving a balance of about $300.
Author:  sharkman [ Fri Mar 16, 2012 9:49 am ]
Post subject:  Re: Wire Transfer??
mfserge wrote:
When I give out my wire info to a prospective buyer I provide the bank info for an account that I usually keep less than $300 in. If I get jacked for $300 then so be it. As soon as I get the wire I withdraw the funds immediately leaving a balance of about $300.



:yeahthat Excatly what I do if I don't know the buyer. If I do know them, I really do not bother myself with it. On the other hand, everytime you hand someone a check, you are giving out the exact same numbers - routing and account.
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