secure money transfers

W

wiggytelsta

Member
With the posting of possible scams and Wilber upgrading some of the safeguards, my question is, what is the best and safest way to receive payment for an on-line sale?
 
If it's someone I don't know and above a certain amount. I call and verify the money order or call the bank insuing the cashiers check and verify it before cashing. Not a big deal.

Hovis
 
If you live near a post office. A Postal Money order gets you instant cash. You hand them the M.O. - they hand you the money. No waiting period, no bank acounts, no phone calls.
 
Wire Transfer is usually the safest!
Easy, Usually Cheap, Fast and Secure.

Money orders and certified checks are easly forged and might not bounce for awhile.
 
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I vote for wire transfer as well. If you go that route, have your bank set up a separate account just for wire transfers, because you have to give the purchaser the bank routing number, name on the account, and account number. I would also not leave funds in that account after receipt.
 
Another account for a wire transfers is a little over kill.
Every check you write has your account number, bank routing number and most times your name as it appears on your account. This information alone can not be used to get into your account. If someone does without your authorization then your bank is on the hook and not you.:)
Now if you never check your bank deposits and withdrawals then that is another story!:eek:
 
USPS money orders.......

may not get cashed early in the day(no cash), may not late in the day(not enough cash). A bank is never, NEVER "on the hook", even if THEY make the mistake, because.......they never make mistakes!
 
Postal Money Order

is what I require when I sell something online. I doubt very much that they are easily forged. They are easy to deal with, every town has a post office. The chance of them not having the money is probably an issue if it's a small town PO and if it's a large Money Order. When I sell I take the Money Order to the PO cash the money order, your paid, mail the item.
 
Doug said:
Another account for a wire transfers is a little over kill.
Every check you write has your account number, bank routing number and most times your name as it appears on your account. This information alone can not be used to get into your account. If someone does without your authorization then your bank is on the hook and not you.:)
Now if you never check your bank deposits and withdrawals then that is another story!:eek:
Click to expand...

Your check number, on the check, and your actuall account number are rarely the same. The wire transfer is THE only bullet proof way, cashier's checks can be cancelled. The only way to do this is to e-mail, or fax the ABA # recieving institution, their account number, and then by phone you give the other party or sending firm you're account number for reciept. That number is security protected and you never send it by e-mail or fax. You are now protected, this can be verified same day or at latest next day. It only makes sense for more substantial transactions. I do and have done this for myself and clients. It is done on the Fed Reserve wire system.
 
We are not a small city, but our post office hardly ever has any cash! It is a pain in the a$$ to wait in a long line and find out they don't have enough funds to cash a MO. I had rather have a personal check from an honest person.
Butch
 
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