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Advice appreciated: new member contacted me for sale

RonJ
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Syrte Syrte
I never realized that. Thanks for the info.
Then it means there is no way to eliminate the risk for criminal activity on the web— if you want to be completely safe you should not transact on a high value item on the internet with a completely unknown person.
That would be my conclusion.
My first sale through the forum was to a relative newbie, I had no problem- and I know others had the same.

I too am surprised to hear that PayPal F&F transactions might be a problem.
I've been the Buyer on two watch deals this year and used PayPal F&F both times to send the money.
It was the fastest and easiest way to send the money and I thought it was completely safe for the Seller.

Not sure how the "Buy the Buyer" due diligence process can work in the future if Sellers become concerned about bank wire transfers and PayPal F&F payments.
.
 
bgrisso
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Evitzee Evitzee
A transfer made by the ACH (Automated Clearing House) system in the US looks like a wire but it is different. There is a time period, I believe it is midnight of the day of sending, where it can be cancelled. One of the scams is for someone to agree to buy a watch and then he sends the ACH payment to the seller's bank and asks him to immediately send the watch that day. Seller sends the watch, tells the buyer it is on its way, and the buyer then cancels the ACH payment. You need to know which kind of payment is deposited, if it is a true wire transfer it can't be recalled for all intents and purposes. If it is unclear or marked ACH call your bank and find out what kind of deposit it is, there may be a time period when it is not totally cleared. Fortunately most people don't even know about the ACH system so they go to the bank and send a true wire payment, so the receiver is good, the money is his as soon as it hits his account.

These days most banks don't want to open and close special accounts for these kinds of payment purposes, especially if foreign agents are involved. It creates paperwork and potential scrutiny from Homeland Security under the Patriot Act. Many eyes are on banking activities now for subversive and illegal activities. Selling or buying a watch isn't illegal, but you don't want the government nosing around about it.

This is the key info in this thread. Important to understand the difference between ACH and regular wire. Transferwise and similar are sometimes using ACH and you might not even be aware. ACH are reversible under some situations, as per the laws in your country.
 
janice&fred
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I'll take my chances. So far so good. I can't spend my life worrying over such stuff.
 
Widows Son
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Ron J makes some good points. In a former life I was a police officer and investigated fraud. I myself was a victim once. I noticed $1500 missing from my checking account. Someone had got ahold of my checking account account number and routing numbers. They then printed up new checks using my account info and started paying their bills. I had to file a police report and then do the same at the bank. It would have been easy to investigate this. All the bank would have had to to was see who the checks were written to, they didn't want to bother, they just flagged the account and redeposited the money.
 
Widows Son
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Another tip. Don't put your paid bills in your mailbox with the flag up. People have been known to steal mail in order to get checks with your account info.
 
janice&fred
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Yesterday I noticed someone had switched our mail box with an exact replica. I would also be wary of imposters posing as mail men/ladies complete with lookalike mail trucks.
 
Widows Son
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janice&fred janice&fred
Yesterday I noticed someone had switched our mail box with an exact replica. I would also be wary of imposters posing as mail men/ladies complete with lookalike mail trucks.
Funny.
 
Dan S
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If we are opening up this thread to other financial scams, I once had my debit card skimmed at an ATM in a bank lobby in Venice. But the vast majority of the financial fraud to which I have been subjected has involved hacking of the financial sites themselves (PayPal, etc.) or simply unapproved use of cc numbers.
 
Archer
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Widows Son Widows Son
Another tip. Don't put your paid bills in your mailbox with the flag up. People have been known to steal mail in order to get checks with your account info.

Someone broke into a community mailbox in our area, and it just so happened that a neighbour had ordered in new cheques, and they were stolen. Several cheques were written on the account before it was stopped.

It happens.
 
Dan S
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Shabbaz Shabbaz
Why are people still using checks!?! We're past 1983! Thank god!

Oh, I love it when the person in front of me at the supermarket breaks out the check book to pay.
 
Archer
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Shabbaz Shabbaz
Why are people still using checks!?! We're past 1983! Thank god!

Up here we use cheques...completely different. 😉
 
janice&fred
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Checks are still quite popular here in Ct as well. We use them to pay all our household bills.
 
Joe_A
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Anyone else see the irony in a wearer of yesteryear's technology mechanical watches poking fun at people who still use checks?

Mr. Pot, may I introduce you to Mr. Kettle? 😉

Personally, I use a fountain pen now and then and I turn my nose up at people who do not leave two spaces after a period!
 
Shabbaz
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Joe_A Joe_A
Anyone else see the irony in a wearer of yesteryear's technology mechanical watches poking fun at people who still use checks?

I just dont understand why you would use checks if you can use a card. We have the technology. Why do people in the north of france use checks? Tradition, a different concept of time? I'm probably to much effected by the city. Everything needs to be fast.

It’s the same with a fax machine. I still have to use that in my work. But a couple of years ago we had a trainee in his early 20's and he asked me what the hell is a fax machine. I explained: "You put a paper in with some text and somewhere else a paper comes out with the same text." He was quiet for a minute and then asked me: "why dont you use email?"
 
airansun
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Joe_A Joe_A
Personally, I use a fountain pen now and then and I turn my nose up at people who do not leave two spaces after a period!
👍
 
TexOmega
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Dan S Dan S
Oh, I love it when the person in front of me at the supermarket breaks out the check book to pay.


Was he in a go-cart wearing a bucket hat?


Sorry, that was me.☕
 
Albe100
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Sorry if I've missed this in the thread, but if the OP is worried about providing the banking details for a transfer, why not use PayPal Friends and Family? The buyer takes on all the risk at this point, no way of recovering funds or starting a case with paypal which removes the risk to the seller posed by the regular PayPal Invoice and pay. The only information provided would be an email.
 
TexOmega
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Albe100 Albe100
Sorry if I've missed this in the thread, but if the OP is worried about providing the banking details for a transfer, why not use PayPal Friends and Family? The buyer takes on all the risk at this point, no way of recovering funds or starting a case with paypal which removes the risk to the seller posed by the regular PayPal Invoice and pay. The only information provided would be an email.


Re-read a few posts and I believe you will find reasons to question your statements.
 
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