is wire transfer safe?

[Varchar]

hello,

I've approached by an interested buyer and he had committed to buy a domain of mine for a low $x,xxx amount. Problem is, originally he agreed to pay with escrow and then paypal, now he is requesting to pay with wire transfer and he is asking me for my bank account information. I never give out my bank account info. Is it safe to give it out to him so he can pay me? I know there are a lot of wire frauds out there, what can I do to protect myself?

Thanks.

 

[Rarethings]

I think wire transfers are pretty safe, given that the only info you supply should be your routing number(s), and/or ADA number(s). The thing to watch out for is buyers who agree to wire a little more than the expected price, under which you are to send them the difference back after the transaction. If he is willing to do a wire transfer, why not tell him to do it through escrow.com, where they accept wire transfers from buyers?

 

[Anthony Ng]

Why did he back out from using escrow? I would strongly recommend using e.g. escrow.com for over $1,000, esp. with someone you're not 100% comfortable.

 

[Varchar]

Originally we agreed to use escrow.com. After a little more than 2 weeks, he contacted me and want to pay through wiring. I guess what I am afraid of is that if it is possible for him to take money from my bank account knowing my account number and signature? I believe he also wants a contact for the sale which will usually contain the signature of both parties.

 

[Dr. Domaining]

...

 

[Nova]

If he is willing to do a wire transfer, why not tell him to do it through escrow.com, where they accept wire transfers

Sounds more or less doubtful that you have a real buyer here. I vote for more.

It's a bit surprising you haven't already received enough posts telling you to walk away and don't look back. So, someone says they want to simply wire you $x,xxx if you will only give them your bank account information. Better yet, why not just transfer the name to them and trust they'll wire the $x,xxx? :ranger:

I believe he should be able to clean you out with the account and routing #'s.

Looking fishy for sure. It's escrow, paypal, whatever, or nothing.

Walk, don't run. 180 degrees. :wink_smile:

 

[Rarethings]

www makes an excellent point.

There is absolutely no reason why he can't wire the money to you through escrow.com, or send it 5 other ways. (through escrow.com)

 

[Varchar]

Yes, that's exactly what I suspect. Just want to confirm on the risk. Thanks.

 

[denny007]

Once money arrives to your account you are safe. What he might do send you a receipt and try to convince you to push the domain before the money arrives. Otherwise is totally safe.

BTW why everyone think escrow.com is safe ??? Is totally unsafe, if I am a scammer I can scam as a buyer (after getting the domain change whois and claim the domain has not been transfered) as well as a seller (change the whois and claim the domain has been pushed). Escrow.com has no way to check with registrars if domain has been really pushed and to which account.

The ONLY SAFE escrow is Moniker, because the domain is transfered in their system and they can verify reality of the transfer.

 

[wiwineguy]

Who was paying the escrow fee? If it was him, he may have just wanted to save a Hundred bucks. Wire transfer is perfectly safe and fast, transfering out of your account takes a differents set of numbers and goes through the banks numbering system after you approve it.

Cheers!

WineGuy

 

[Nova]

http://www.google.com/search?hl=en&lr=&q="bank+account+and+routing+number"&btnG=Search

 

[Anthony Ng]

Who was paying the escrow fee? If it was him, he may have just wanted to save a Hundred bucks.

I always split the escrow fee. It isn't much, but gives the impression that you are "fair".