Quote:
Originally Posted by john70t
Even "verified funds" can be reversed AFAIK.
Sometimes weeks later.
When the funds originate from a PayPal account opened with a stolen credit card:
Between you and the bank, guess who loses? |
^^^^ THIS^^^^^^ Do not make the assumption the bank will absorb
any risk on your behalf. I don't care what they say in person, if the funding source is discovered to be false or have "zero" balance guess what the next step is? They immediately debit your account for that amount.
There was a factual story recently about this very subject where some person with a supposed verified account and routing number wires (from off shore) a substantial amount for a car / motorcycle. Seller sees $$$ arrived in his account, releases vehicle and title an shipper picks it up. Then something like 2-3 weeks later bank calls seller and says the account where the funding came form appeared to be legit but was not.
Now bank tells seller account is debited for entire amount need to work out how to address that. Vehicle is gone, with the title and seller is effed.....................don't think that won't happen. Last wire transfer I received was from Italy for a bike I sold on Ebay. In the ad I stated wire transfers
only for balance and I would hold it for 7 business days before releasing the bike to shipper. In most cases when shipping overseas there is some delay when the deal is complete and when the shipper arrives to pick it up.