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 The Bird Lady
Posts: 6440
   
Location: The end of the Earth, SE AR | Okay, keep in mind I am very adamant about bank wire transfer. I want a secure safe no-scam deposit.
A guy messages me about one of our horses and wants to talk on the phone to me, so I call him and he says he, wants to buy her and is willing to make a deposit and pay in cash when he gets here. Agrees to signing a contract.
BUT
(there's always a "but" isn't there?)
He says and I quote "I don't have a bank here in South Carolina". I said "you can just call your bank" but he never replied to that.
So, he said, I can send a deposit "Western Union" and I thought "Oh lordie, that what the scam artists always do. I mentioned Walmart has a money transfer system and he said "Yes that's Western Union".
Now a horse will only leave our property without full payment over my dead body. And the guy says as soon as the weather clears next week he can come and get her.
So how should I accept the deposit?
Edited by rollingrfarm 2014-02-18 7:43 AM
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Hungarian Midget Woman
Location: Midwest | I thought Western Union was really safe to accept as a seller... you get cash, right?
I thought the scam was always that they would send you an overwrote check, and then you would have to send them the extra back via western union. The check they sent would be no good, plus you were out the money you sent them. But I could be wrong. |
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  That's White "Man" to You
Posts: 5515
| Wire transfer only, western unions are easily counterfit. |
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 Independent Cuss
Posts: 3978
Location: Dearing, GA | I had my parents transfer money to me via Wal-Mart when I lived out of state. It worked just fine and when you pick it up you get cash (or at least I did). No scams involved because when you go through Wal-Mart it's not like it gets deposited in an account or anything. It's just cash in your hand. |
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 Best of the Badlands
Location: You never know where I will show up...... | I have taken PayPal for deposits in the past. |
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 Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | I would take the Western Union payment, they will pay you in cash when you pick the payment up, not sure what the problem is. You are more at risk of fraud when you send money Western Union, recieving is no problem. |
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Veteran
Posts: 247
Location: Crossfield Alberta | Can you do E-Transfers in the States. They are really simple and the money goes right into your bank account. I do them up here all the time.
Kim |
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 Expert
Posts: 3165
| i recently started using this...
https://squareup.com/?gclid=CIK10vHPxLwCFW1nOgodHF4AGg
very easy! reasonable fee's. |
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Hungarian Midget Woman
Location: Midwest | Whiteboy - 2014-02-11 11:34 AM
Wire transfer only, western unions are easily counterfit.
I thought that was only cashier's checks or money orders that could be counterfit. Can they counterfit Western Union as well somehow?
I'm just wondering for future reference |
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The Advice Guru
Posts: 6419
| I can wire transfer to anywhere in the USA, so I can't see why he can't.
I would contact western union and see what their policy is.
If he is going to be there in a few weeks, would it be bad to hold the horse without deposit just to safe guard yourself?
Or are there more people interested?
If you are suspicious already my other concern would be counterfeit money, I might ask him to meet me at the bank to have the cash verified.
I might be paranoid though |
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That's White "Man" to You
Posts: 5515
| barrelracr131 - 2014-02-11 11:46 AM Whiteboy - 2014-02-11 11:34 AM Wire transfer only, western unions are easily counterfit. I thought that was only cashier's checks or money orders that could be counterfit. Can they counterfit Western Union as well somehow? I'm just wondering for future reference
I think it must depend. Our local western union gives the person a check, they can then bring the check to the bank and cash it. The local store writes a number on the check so that we can verify that it was actually picked up at our local store. The problem is that there are tons of fake western unions check floating around. I guess if you picked the check up from the actual western union location it might be fine. But we will not accept western union check (without the local number) here at the bank without a minimum 5 business day hold, because so many have come back as fraud. |
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Hungarian Midget Woman
Location: Midwest | Whiteboy - 2014-02-11 11:55 AM
barrelracr131 - 2014-02-11 11:46 AM Whiteboy - 2014-02-11 11:34 AM Wire transfer only, western unions are easily counterfit. I thought that was only cashier's checks or money orders that could be counterfit. Can they counterfit Western Union as well somehow? I'm just wondering for future reference
That makes sense, thanks |
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 Extreme Veteran
Posts: 357
| I dont know how long you are planning to hold the horse but recently just bought a horse that was just a few hours from me and they wanted a down payment send that day and it was chirstmas eve. I just sent a personal check and they held it till I picked him up. I bought all cash with me and she gave my check back to me. Actually never even opened the envelope i sent. Never recommend taking a personal check from anyone but that worked out great for both of us.. |
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Cat Collector
Posts: 1430
| Could he not do an email transfer of the funds to hold the horse? I wouldnt trust western union but thats just me |
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Red Hot Cardinal Fan
Posts: 4122
| I think if your getting it directly from Western Union or the Walmart money center then you should be fine.
And for what it's worth, I work at a bank and we can not do a wire via authorization over the phone. The customer has to be in our branch and sign paperwork to do the transfer. So if he has a smaller bank, what he's saying may be accurate and he may not be able to do the wire. |
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I Really Love Jeans
Posts: 3173
Location: North Dakota | He wants to put a deposit and pay for the horse when he gets it, thats the trick! You will never get the payment and he has a horse for a small deposit price. If he wants the horse he needs to pay in full and come get the horse! If you let a horse go without all the payment good luck getting it later! To go after someone for non-payment costs more money! Sorry but you are being scammed!!!!!!! |
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The Bird Lady
Posts: 6440
Location: The end of the Earth, SE AR | angelica - 2014-02-11 1:16 PM He wants to put a deposit and pay for the horse when he gets it, thats the trick! You will never get the payment and he has a horse for a small deposit price. If he wants the horse he needs to pay in full and come get the horse! If you let a horse go without all the payment good luck getting it later! To go after someone for non-payment costs more money! Sorry but you are being scammed!!!!!!!
How do I get scammed - I don't understand your scenario?
After I get a deposit that's legit, he pays for the rest of the horse in cold hard cash when he picks it up. So unless the cash is counterfit, I don't understand how its a scam? Lastly, I never let a horse leave here without full payment. |
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Red Hot Cardinal Fan
Posts: 4122
| angelica - 2014-02-11 1:16 PM He wants to put a deposit and pay for the horse when he gets it, thats the trick! You will never get the payment and he has a horse for a small deposit price. If he wants the horse he needs to pay in full and come get the horse! If you let a horse go without all the payment good luck getting it later! To go after someone for non-payment costs more money! Sorry but you are being scammed!!!!!!!
???? In her original post it states, " he's wlling to make a deposit and pay in cash when he gets here".
The way I understood it, he's putting a deposit to hold the horse until he can come get it and pay for the remaining balance in cash. Am I wrong here? |
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 Undercover Amish Mafia Member
Posts: 9992
Location: Kansas | Most scams I've seen...they never actually contact you. Sounds like you spoke with the man.......Not sure if it is a scam...but that's my 2 cents.
I would tell him if he wants to make a deposit, than he needs to send a money order...or whatever else, like a money order from his bank |
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Hog Tie My Mojo
Posts: 4847
Location: Opelousas, LA | hoofs_in_motion - 2014-02-11 1:32 PM Most scams I've seen...they never actually contact you. Sounds like you spoke with the man.......Not sure if it is a scam...but that's my 2 cents.
I would tell him if he wants to make a deposit, than he needs to send a money order...or whatever else, like a money order from his bank
I have recieved fake USPS money orders, they were pretty good fakes, if I didn't regularly deal in USPS MOs I would not have known they weren't real. |
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| GOOD LORD WHAT A LOT OF DRAMA .... lol
Just have him mail you a personal check for deposit or full payment and allow the 10 days hold at your bank before picking up the horse ...
If you pick up cash at Walmart or Western Union on deposit what is the problem?? If he shows up with cash let him take the horse if anything different pull out your concealed and run his butt off .....
I rarely have done deposits except at long term weaning times and have accepted personal checks or cash from strangers that showed up as planned to buy a horse without ever having a problem.
Send the man to my barn and I will take his money and send you a finders fee ... lol |
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 Expert
Posts: 2161
Location: NW. Florida | If he sends you a money order from the post office you can cash it at the post office the day you receive it and would know if it's good before he picks the horse up. |
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 A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | Have him send you a personal check for a deposit it should clear in 5 working days and if not then you know he dont have the money to buy your horse, if check clears awesome, when he comes for the horse cash all the way, no ands, ifs, or buts about it cash only for the whole amount that he owe's you. Simple I have done this a few times.  |
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The Bird Lady
Posts: 6440
Location: The end of the Earth, SE AR | I have been selling horses for about 15 years.
I have learned some things in my time. Fortunately, never got screwed out of money. Or a horse.
The only deviation from my time tested rules that I am asking about is the desposit. And since then I have read that at both Walmart and Western Union I can recieve the money directly in cash. I have emailed him and given him those options, plus the option of a money order or a bank check with the stipulation that he can't pick up the horse until I notify him that my bank said it cleared and was good.
I require a deposit because I left a Texas vacation 3 days early to meet a horse buyer who was picking up a horse of mine she just had to have, only to come home and wait and wait and she never showed up.
I explained to the buyer that for me to take the horse off the market I needed a deposit. If he was concerned that someone else would put a deposit down on her or come get her before he got here, he'd need a deposit. He told me he wanted to put down a 20% deposit.
You obviously have no idea who I am, or who my husband is if you think we'd let you or anyone else drive out of here with my horse without paying me in cash. (Except for Three4Luck, I let her pay by check but then I know where she lives, and where her parents live, where her husband works, and what her darling children look like). We have plenty of guns in the house, in the barn, in our trucks (and who know's where else my husband stashes them) that there is no way anyone could get out of here with a horse and not pay cash as required. I have no problem telling someone who shows up here and "forgets their money" to turn around and drive the 2 hours or 2 days home. And if my biatchy attitude and are guns don't send them running home, Ruger my 223lb mastiff will help send them on their way.
Edited by rollingrfarm 2014-02-11 2:50 PM
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A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | rollingrfarm - 2014-02-11 2:48 PM I have been selling horses for about 15 years.
I have learned some things in my time. Fortunately, never got screwed out of money. Or a horse.
The only deviation from my time tested rules that I am asking about is the desposit. And since then I have read that at both Walmart and Western Union I can recieve the money directly in cash. I have emailed him and given him those options, plus the option of a money order or a bank check with the stipulation that he can't pick up the horse until I notify him that my bank said it cleared and was good.
I require a deposit because I left a Texas vacation 3 days early to meet a horse buyer who was picking up a horse of mine she just had to have, only to come home and wait and wait and she never showed up.
I explained to the buyer that for me to take the horse off the market I needed a deposit. If he was concerned that someone else would put a deposit down on her or come get her before he got here, he'd need a deposit. He told me he wanted to put down a 20% deposit.
You obviously have no idea who I am, or who my husband is if you think we'd let you or anyone else drive out of here with my horse without paying me in cash. (Except for Three4Luck, I let her pay by check but then I know where she lives, and where her parents live, where her husband works, and what her darling children look like). We have plenty of guns in the house, in the barn, in our trucks (and who know's where else my husband stashes them) that there is no way anyone could get out of here with a horse and not pay cash as required. I have no problem telling someone who shows up here and "forgets their money" to turn around and drive the 2 hours or 2 days home. And if my biatchy attitude and are guns don't send them running home, Ruger my 223lb mastiff will help send them on their way.
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 Roan Wonder
Location: SW MO | Have him do a pay pal deposit or over night you a personal check. |
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 Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | Oh wow, I feel special now. LOL. I think some of y'all are trying to make it more complicated than it is. I can kinda understand the issue with wire transfers--my bank doesn't do them either but they will facilitate a 3rd party transfer. Big PIA and it never goes through on time. I have an online account with another bank, but I don't keep money in there anymore and it takes 3 days to transfer money in. Not all of us live in the 21st century.  |
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 Horsey Gene Carrier
Posts: 1888
Location: LaBelle, Florida | Bank Certified check...guaranteed to be good.
I just did one for a deposit on a puppy. |
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The Advice Guru
Posts: 6419
| Southtxponygirl - 2014-02-11 2:46 PM
Have him send you a personal check for a deposit it should clear in 5 working days and if not then you know he dont have the money to buy your horse, if check clears awesome, when he comes for the horse cash all the way, no ands, ifs, or buts about it cash only for the whole amount that he owe's you. Simple I have done this a few times.
I don't know about your area but if I get a check from out of province, they check issuer has 30 days to dispute it, so for people accepting check please ask your bank when the check is free and clear no disputes |
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 Extreme Veteran
Posts: 392
Location: CA | cheryl makofka - 2014-02-11 2:36 PM Southtxponygirl - 2014-02-11 2:46 PM Have him send you a personal check for a deposit it should clear in 5 working days and if not then you know he dont have the money to buy your horse, if check clears awesome, when he comes for the horse cash all the way, no ands, ifs, or buts about it cash only for the whole amount that he owe's you. Simple I have done this a few times. I don't know about your area but if I get a check from out of province, they check issuer has 30 days to dispute it, so for people accepting check please ask your bank when the check is free and clear no disputes
I want to add I took a personal check for a saddle and told the buyer I would hold it for 10 days, BUT when I deposited the check my bank told me they could not call the other bank and verify the funds were there due to confidentiality issues. They also told me they had up to 30 days for the check to be returned as NSF, and they could not tell me when they actually received the funds into my account. I did not and still do not know why my bank could not tell me when THEY received the funds. I ended up asking the buyer to send me a copy of her processed check, luckily everything worked out and the buyer was legit. |
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A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | cheryl makofka - 2014-02-11 4:36 PM Southtxponygirl - 2014-02-11 2:46 PM Have him send you a personal check for a deposit it should clear in 5 working days and if not then you know he dont have the money to buy your horse, if check clears awesome, when he comes for the horse cash all the way, no ands, ifs, or buts about it cash only for the whole amount that he owe's you. Simple I have done this a few times. I don't know about your area but if I get a check from out of province, they check issuer has 30 days to dispute it, so for people accepting check please ask your bank when the check is free and clear no disputes
Really, I'm in Texas and never heard of this  |
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| rollingrfarm - 2014-02-11 3:48 PM I have been selling horses for about 15 years.
I have learned some things in my time. Fortunately, never got screwed out of money. Or a horse.
The only deviation from my time tested rules that I am asking about is the desposit. And since then I have read that at both Walmart and Western Union I can recieve the money directly in cash. I have emailed him and given him those options, plus the option of a money order or a bank check with the stipulation that he can't pick up the horse until I notify him that my bank said it cleared and was good.
I require a deposit because I left a Texas vacation 3 days early to meet a horse buyer who was picking up a horse of mine she just had to have, only to come home and wait and wait and she never showed up.
I explained to the buyer that for me to take the horse off the market I needed a deposit. If he was concerned that someone else would put a deposit down on her or come get her before he got here, he'd need a deposit. He told me he wanted to put down a 20% deposit.
You obviously have no idea who I am, or who my husband is if you think we'd let you or anyone else drive out of here with my horse without paying me in cash. (Except for Three4Luck, I let her pay by check but then I know where she lives, and where her parents live, where her husband works, and what her darling children look like). We have plenty of guns in the house, in the barn, in our trucks (and who know's where else my husband stashes them) that there is no way anyone could get out of here with a horse and not pay cash as required. I have no problem telling someone who shows up here and "forgets their money" to turn around and drive the 2 hours or 2 days home. And if my biatchy attitude and are guns don't send them running home, Ruger my 223lb mastiff will help send them on their way.
Just out of curiosity, when you say cash, do you "check" the cash to be sure it's not counterfeit? I only ask because we are in the business of buying/selling equipment. We sell anything from small tractors and backhoes to the biggest loaders, dozers, graders etc. and we now make sure we check the cash unless it's someone we know well While we're finishing paperwork or loading onto trailers and checking trailer connections etc. someone else has the cash in the office checking it for legitimacy. We've never had a problem ourselves but are aware it has been known to happen to others in the business. I would think the horse business would be just as susceptible.
Edited by runs4fun 2014-02-11 5:13 PM
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 Night Watchman
Posts: 5516
Location: Central Montana | I work in banking. I would never ask anyone to deposit via wire transfer unless you have an account set up specifically for that and nothing else. As soon as someone has your account number and routing number let the fraud begin. Also, due to the Dodd Frank act you legally cannot send a wire if you are not present in the sending branch and receive disclosures for the wire.
A person has to buy a cashiers check, they have already spent the money to get the piece of paper in their hands. They go to the teller line and purchase the cashiers check with cash or a withdrawal from their own account. Once it is purchased it is a negotiable item and unless it is lost, stolen, or destroyed and they are willing to sign an affidavit that can be used against them in court the buyer is not getting their money back once the check leaves their hands.
The bank I work for has a 1-800 number that a person can call to verify if a cashiers check or bank money order is real or not. Do not go by the phone number on the check, look it up on the bank's website and call to verify a cashiers check.
Cash is always the best way to go. |
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 Extreme Veteran
Posts: 405
| GoinJettin - 2014-02-11 10:11 PM I work in banking. I would never ask anyone to deposit via wire transfer unless you have an account set up specifically for that and nothing else. As soon as someone has your account number and routing number let the fraud begin. Also, due to the Dodd Frank act you legally cannot send a wire if you are not present in the sending branch and receive disclosures for the wire.
A person has to buy a cashiers check, they have already spent the money to get the piece of paper in their hands. They go to the teller line and purchase the cashiers check with cash or a withdrawal from their own account. Once it is purchased it is a negotiable item and unless it is lost, stolen, or destroyed and they are willing to sign an affidavit that can be used against them in court the buyer is not getting their money back once the check leaves their hands.
The bank I work for has a 1-800 number that a person can call to verify if a cashiers check or bank money order is real or not. Do not go by the phone number on the check, look it up on the bank's website and call to verify a cashiers check.
Cash is always the best way to go.
I know that personal checks all have your account and routing number printed on them. So anytime you pay with a personal check, whether it be for a saddle, hay, etc., that person will have your account and routing number. Is there something about a wire transfer that increases the chances of fraud over writing personal checks to someone? |
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| okkritter - 2014-02-12 12:58 AM GoinJettin - 2014-02-11 10:11 PM I work in banking. I would never ask anyone to deposit via wire transfer unless you have an account set up specifically for that and nothing else. As soon as someone has your account number and routing number let the fraud begin. Also, due to the Dodd Frank act you legally cannot send a wire if you are not present in the sending branch and receive disclosures for the wire.
A person has to buy a cashiers check, they have already spent the money to get the piece of paper in their hands. They go to the teller line and purchase the cashiers check with cash or a withdrawal from their own account. Once it is purchased it is a negotiable item and unless it is lost, stolen, or destroyed and they are willing to sign an affidavit that can be used against them in court the buyer is not getting their money back once the check leaves their hands.
The bank I work for has a 1-800 number that a person can call to verify if a cashiers check or bank money order is real or not. Do not go by the phone number on the check, look it up on the bank's website and call to verify a cashiers check.
Cash is always the best way to go. I know that personal checks all have your account and routing number printed on them. So anytime you pay with a personal check, whether it be for a saddle, hay, etc., that person will have your account and routing number. Is there something about a wire transfer that increases the chances of fraud over writing personal checks to someone?
That was my first thought: anyone you give a personal check to, or business check for that matter, has your account and routing numbers. In our business, we do quite a few wire transfers ($15 bucks a pop!) and find that is the safest way to receive money. |
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Pig-Bear Dog Lover
| He can call his bank and have a certified/teller check mailed straight to your address over night, I believe it cost $2-$5 regardless of the amount. This is my favorite way to pay, very simple and unlike a personal check it is certified and you know it will cash. I think walmart money gram is an OK way, though it cost quite a bit to send. I wouldn't be dealing with it, give him the options that suite you and hopefully he can make one of them happen. I would not take the horse off the market either, rather hold off any interested parties by telling them the sale is pending, because technically she is not SOLD and you shouldn't be expected to take her down completely until the deal is done. It may save you the hassle of having to re list her, IF god forbid something was to fall through, for whatever reason. ETA I have wired money from another state to another account without being present in the branch. That sounds odd, but I'm happy my bank will make anything happen that I need to.
Edited by SwishMiss 2014-02-12 9:15 AM
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 Expert
Posts: 1302
Location: California | I have done wire transfer with a local girl that I knew but when I sold my good horse a couple years ago they sent a personal check in the mail as the down payment. No issues what so ever. |
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That's White "Man" to You
Posts: 5515
| Checks can be sent back up to 90 days after the end of the month that the check was processed. What happens if they give you a check with someone elses account number encoded on the bottom? If you aren't willing to give the horse away, I would not take a check from someone I didn't know. I could give you hundreds of horror stories about this.
Edited by Whiteboy 2014-02-12 9:59 AM
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I Need a Xanax!
Posts: 2774
| Yall are really freaking me out about selling anything over a couple hundred dollars ever again!!! |
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 Another Barbossa
Posts: 2187
Location: Central Iowa, surrounded by corn! | I did a wire transfer when I bought my gelding last spring! I gave the gal my banks # along with the website to check the number and make sure it was legit! She called them herself and gave them her banking info so I was not involved in that part at all! Money was in her account by the end of the day! |
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Rad Dork
Posts: 5218
Location: Oklahoma | GoinJettin - 2014-02-11 10:11 PM I work in banking. I would never ask anyone to deposit via wire transfer unless you have an account set up specifically for that and nothing else. As soon as someone has your account number and routing number let the fraud begin. Also, due to the Dodd Frank act you legally cannot send a wire if you are not present in the sending branch and receive disclosures for the wire.
A person has to buy a cashiers check, they have already spent the money to get the piece of paper in their hands. They go to the teller line and purchase the cashiers check with cash or a withdrawal from their own account. Once it is purchased it is a negotiable item and unless it is lost, stolen, or destroyed and they are willing to sign an affidavit that can be used against them in court the buyer is not getting their money back once the check leaves their hands.
The bank I work for has a 1-800 number that a person can call to verify if a cashiers check or bank money order is real or not. Do not go by the phone number on the check, look it up on the bank's website and call to verify a cashiers check.
Cash is always the best way to go.
How is that banks can get around this?
I did a wire a few weeks ago over the phone with our "larger" bank. Our "smaller" bank will only do a wire if you are in person. I had to call them off a number listed on my account, provide security answers and account information and answer a call back on a specific number. Never had to sign a thing or be there in the flesh. I was glad they let me do it since I'm a 30 minute drive from the physical bank. Was this illegal? Not trying to get my bank in trouble, just curious! |
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That's White "Man" to You
Posts: 5515
| Longneck - 2014-02-12 11:17 AM GoinJettin - 2014-02-11 10:11 PM I work in banking. I would never ask anyone to deposit via wire transfer unless you have an account set up specifically for that and nothing else. As soon as someone has your account number and routing number let the fraud begin. Also, due to the Dodd Frank act you legally cannot send a wire if you are not present in the sending branch and receive disclosures for the wire.
A person has to buy a cashiers check, they have already spent the money to get the piece of paper in their hands. They go to the teller line and purchase the cashiers check with cash or a withdrawal from their own account. Once it is purchased it is a negotiable item and unless it is lost, stolen, or destroyed and they are willing to sign an affidavit that can be used against them in court the buyer is not getting their money back once the check leaves their hands.
The bank I work for has a 1-800 number that a person can call to verify if a cashiers check or bank money order is real or not. Do not go by the phone number on the check, look it up on the bank's website and call to verify a cashiers check.
Cash is always the best way to go. How is that banks can get around this?
I did a wire a few weeks ago over the phone with our "larger" bank. Our "smaller" bank will only do a wire if you are in person. I had to call them off a number listed on my account, provide security answers and account information and answer a call back on a specific number. Never had to sign a thing or be there in the flesh. I was glad they let me do it since I'm a 30 minute drive from the physical bank. Was this illegal? Not trying to get my bank in trouble, just curious!
The laws are very vague. Banks are left to interpret the laws to the best of thier abilities. Over regulation is a huge problem in the banking industry. The Dodd Frank includes over 3000 new laws that were passed before the laws were written. Banks dont understand them and neither do regulators.
That being said, I'm with a small bank and we will do wires over the phone, but we must do a call back to the customer (on the number we have on file) to verify the information. |
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Rad Dork
Posts: 5218
Location: Oklahoma | Whiteboy - 2014-02-12 1:44 PM Longneck - 2014-02-12 11:17 AM GoinJettin - 2014-02-11 10:11 PM I work in banking. I would never ask anyone to deposit via wire transfer unless you have an account set up specifically for that and nothing else. As soon as someone has your account number and routing number let the fraud begin. Also, due to the Dodd Frank act you legally cannot send a wire if you are not present in the sending branch and receive disclosures for the wire.
A person has to buy a cashiers check, they have already spent the money to get the piece of paper in their hands. They go to the teller line and purchase the cashiers check with cash or a withdrawal from their own account. Once it is purchased it is a negotiable item and unless it is lost, stolen, or destroyed and they are willing to sign an affidavit that can be used against them in court the buyer is not getting their money back once the check leaves their hands.
The bank I work for has a 1-800 number that a person can call to verify if a cashiers check or bank money order is real or not. Do not go by the phone number on the check, look it up on the bank's website and call to verify a cashiers check.
Cash is always the best way to go. How is that banks can get around this?
I did a wire a few weeks ago over the phone with our "larger" bank. Our "smaller" bank will only do a wire if you are in person. I had to call them off a number listed on my account, provide security answers and account information and answer a call back on a specific number. Never had to sign a thing or be there in the flesh. I was glad they let me do it since I'm a 30 minute drive from the physical bank. Was this illegal? Not trying to get my bank in trouble, just curious!
That being said, I'm with a small bank and we will do wires over the phone, but we must do a call back to the customer (on the number we have on file) to verify the information.
Thanks! I was curious if it had anything to do with the amount. The smaller bank wires have always been 6 figures, but the one we did recently with our larger bank was only 15k. Didn't know if that might have been the difference. |
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 BHW's Lance Armstrong 
Posts: 11134
Location: Somewhere between S@%&# stirrer and Saint | If he can't wire the money then forget it. Wiring means he has to wire from an account and he is traced. Just move on. |
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BHW's Lance Armstrong
Posts: 11134
Location: Somewhere between S@%&# stirrer and Saint | Or better yet. Tell him no money down, and he can do yearly payments at $500 per year. Guaranteed he still won't show up to get the horse. |
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| Longneck - 2014-02-12 12:17 PM GoinJettin - 2014-02-11 10:11 PM I work in banking. I would never ask anyone to deposit via wire transfer unless you have an account set up specifically for that and nothing else. As soon as someone has your account number and routing number let the fraud begin. Also, due to the Dodd Frank act you legally cannot send a wire if you are not present in the sending branch and receive disclosures for the wire.
A person has to buy a cashiers check, they have already spent the money to get the piece of paper in their hands. They go to the teller line and purchase the cashiers check with cash or a withdrawal from their own account. Once it is purchased it is a negotiable item and unless it is lost, stolen, or destroyed and they are willing to sign an affidavit that can be used against them in court the buyer is not getting their money back once the check leaves their hands.
The bank I work for has a 1-800 number that a person can call to verify if a cashiers check or bank money order is real or not. Do not go by the phone number on the check, look it up on the bank's website and call to verify a cashiers check.
Cash is always the best way to go. How is that banks can get around this?
I did a wire a few weeks ago over the phone with our "larger" bank. Our "smaller" bank will only do a wire if you are in person. I had to call them off a number listed on my account, provide security answers and account information and answer a call back on a specific number. Never had to sign a thing or be there in the flesh. I was glad they let me do it since I'm a 30 minute drive from the physical bank. Was this illegal? Not trying to get my bank in trouble, just curious!
Edited by runs4fun 2014-02-12 3:11 PM
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The Bird Lady
Posts: 6440
Location: The end of the Earth, SE AR | Well, you will all have to bite your nails and sit on the edge of your seat, he texted me yesteray saying that his town in SC was virtually closed down by the snowstorm and he has no electricity. I'll have to make my wild and crazy western union deal another day. |
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Night Watchman
Posts: 5516
Location: Central Montana | Sorry it took so long to get back. Yes, anytime you write a personal check the person receiving it has access to your account number and routing number too. I almost never write checks. ACH fraud is hard to stop once it starts except to totally close your account and get a new one.
The federal regulations are fairly new. Our bank does not take many chances especially when it comes to federal regulations. If a person wants to send a wire they are going to sign for it and sign that they received the disclosures. In an audit all the paperwork will be in order to show the regulations are being followed. |
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The Bird Lady
Posts: 6440
Location: The end of the Earth, SE AR | Well here's what happened.
I faxed the contract to him Friday and he signed it and faxed it back.
He said he'd send the money through Walmart's money transfer service Moneygram on Monday. I was fine with that as I didn't feel like driving 30 miles to Wallyworld on a Friday.
Monday I went to Walmart on my way back from taking an injured eagle to the zoo vet in Little Rock. I filled out the form using the number they gave me, showed them my ID and they gave me the $1000 deposit in cash.
He said he'd look at the weather predictions for this coming week and next and figure out when he will come get the filly. |
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Roan Wonder
Location: SW MO | rollingrfarm - 2014-02-18 7:47 AM Well here's what happened.
I faxed the contract to him Friday and he signed it and faxed it back.
He said he'd send the money through Walmart's money transfer service Moneygram on Monday. I was fine with that as I didn't feel like driving 30 miles to Wallyworld on a Friday.
Monday I went to Walmart on my way back from taking an injured eagle to the zoo vet in Little Rock. I filled out the form using the number they gave me, showed them my ID and they gave me the $1000 deposit in cash.
He said he'd look at the weather predictions for this coming week and next and figure out when he will come get the filly. I'm very glad it's all working out for you!!! |
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The Bird Lady
Posts: 6440
Location: The end of the Earth, SE AR | Thanks Crossspur, Just hope I can get her momma sold before the beginning of March because rather than leave her open, we'll have to breed her. We are supposed to be done breeding but if we leave her open folks will wonder what's wrong. I wish she'd go to a good home - she's got a great pedigree, I dropped her price below reasonable - I just don't know what's wrong.
Edited by rollingrfarm 2014-02-18 8:22 AM
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Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | rollingrfarm - 2014-02-18 8:20 AM Thanks Crossspur, Just hope I can get her momma sold before the beginning of March because rather than leave her open, we'll have to breed her. We are supposed to be done breeding but if we leave her open folks will wonder what's wrong. I wish she'd go to a good home - she's got a great pedigree, I dropped her price below reasonable - I just don't know what's wrong.
I think people are still backed off breeding. The ones knowledgeable enough to want a good mare like her anyway. I'm praying I don't run out of hay because they have been eating twice as much as usual with the bad winter we've had and the spring grass is late. |
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A Somebody to Everybody
Posts: 41354
Location: Under The Big Sky Of Texas | Good deal that he got the money wired to you hope that you get your mare sold too, with the way things are looking the hay is going to get outta hand with the prices with no rain happening in our part of the world, hopefully the right person will come along and buy her.  |
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The Bird Lady
Posts: 6440
Location: The end of the Earth, SE AR | Three 4 Luck - 2014-02-18 9:00 AM rollingrfarm - 2014-02-18 8:20 AM Thanks Crossspur, Just hope I can get her momma sold before the beginning of March because rather than leave her open, we'll have to breed her. We are supposed to be done breeding but if we leave her open folks will wonder what's wrong. I wish she'd go to a good home - she's got a great pedigree, I dropped her price below reasonable - I just don't know what's wrong. I think people are still backed off breeding. The ones knowledgeable enough to want a good mare like her anyway. I'm praying I don't run out of hay because they have been eating twice as much as usual with the bad winter we've had and the spring grass is late.
Same here, we are alternating feeding a bale of 2 summers ago hay and then last summers hay. They are not happy with the older hay. I have gotten prices from some folks that still have great hay and for what they are asking, there should be a 5 carat platinum and diamond ring in each bale. I've even thought of backing off feed and just buying and feeding the platiunum and diamond hay. Stupid Weather!!!!!! |
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Says he can't do wire transfer, how do I accept deposit UPDATE!