Safest way to accept funds for long distance sale?

[EarlyPorsche]

Originally Posted by Zeke

I took a 1000 deposit on a car thru PP and then drained the account.

I hope you're aware that if you have a verified account with bank information on file then Paypal will just get whatever they want from there. PayPal is super extra ultra safe for buyers and it's the ONLY way to buy online but for sellers there are still risks.

[KFC911]

Originally Posted by RWebb

wrong - fake banks have been set up before

That'd be an interesting read...got any links? I'm pretty sure that a buyer or seller (or anyone on the "outside") isn't gonna set up a "fake bank" without a thorough knowledge of the Federal Reserve System and get away with it for a "sale" . Literally trillions are transferred every single day...hundreds of billions alone for the outfit I worked for years ago...it's MUCH safer than any viable option imo...YMMV.

[RWebb]

No links - it is was my banker told me when I was doing a transaction.


Oh, BTW - they are often offshore, tho may look "domestic."

[nostatic]

Another downside to Paypal (other than the fees) - if you do more than a certain amount of transactions they start bugging you for a SSN so they can report to the govt.

You still can get around their fees though if you use the "gift" option. You do lose buyer protection (such as it is), and if you don't have money in your account and hit a cc you'll be charged the cc fees.

[KFC911]

Originally Posted by RWebb

No links - it is was my banker told me when I was doing a transaction.


Oh, BTW - they are often offshore, tho may look "domestic."

I did a quick Google search and saw some of what you're referring to re offshore banks, etc. that's started in recent years. Thanks! A little dilligence is probably required...(i.e. using reputable mega-banks, etc.).

ps: I would also be comfortable using a cashiers check drawn on a mega-bank and having "my" bank call to verify it's authenticity before continuing the transaction (i.e. releasing a car, etc.). Or maybe a briefcase of Bens and a .45 is the way to go...

[RWebb]

ah.. my banker told me they never call the phone number printed on the bank check!

they look up the bank by its name and call THAT phone number

[KFC911]

Originally Posted by RWebb

ah.. my banker told me they never call the phone number printed on the bank check!

they look up the bank by its name and call THAT phone number

Absolutely!