Accepting Payment

[halehouse]

Does anyone have an opinion on accepting payment by an electronic/wire transfer from bank to bank? We put a car on eBay and it sold to a buyer in Canada. I had numerous communications via email and two phone conversations. The buyer has hired a broker (I have seen his website) to handle the shipping and customs. I am pretty comfortable with the buyer, but is there any risk with a wire transfer? My initial thought is that it is better than Paypal due to not having fees. I can't think of anything that can be counterfeited like could be with a money order or maybe even a cashier's check. The $ is going straight from bank to bank and the car wouldn't leave until the funds were in my account. Anything I might be overlooking?

[TomFromJersey]

Nope...there is usually a $10-$30 fee going into or out of an acct.
TFJ

[halehouse]

Yeah, everything I read says it's pretty much secure. I know there is a fee to send money from my bank, but I think it is free to receive money.

[collecture]

They usually get you at both ends - fee to send and fee to receive.

[halehouse]

They usually get you at both ends - fee to send and fee to receive.

From what I am reading on my credit union's website, it there is no fee to receive $. I'll double check it.

[vintage-air]

I have used a wire transfer many times and always been safe. There is a fee incurred for sending money ($15) at my bank but no fee to receive money. It is very secure and no wait time for the money to clear... like a certified check. Of course, cash is KING!

[SIGNGUY]

I use wire transfers for all my overseas and some inland transactions and never a problem.. my bank does charge 20 bucks or so to recieve on, but that will vary from bank to bank I'm sure.

[cokemachinesandmore]

very safe once the money is received in your account. It cannot be reversed, unlike paypal. 

[halehouse]

Ok. I'm comfortable with it. Thanks!