e transfers???

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Axelay2003
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e transfers???

Post by Axelay2003 » Sun Nov 17, 2019 5:45 am

I’ve never dealt with e transfers. One potential buyer would like to purchase from me and would like to pay via e transfer.

Any members here have bad/good experience and what do I need to do on my end to receive the funds?

Thanks!
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hoppyjr
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Re: e transfers???

Post by hoppyjr » Sun Nov 17, 2019 6:25 am

Most banks in the USA use Zelle. I’ve used/accepted it many times without incident. It appears a payment is final as long as (A) recipient has a confirmed Zelle account or (B) recipient claims or receives the funds.

I suppose the account owner/holder could later claim fraudulent use of their account, but it’s definitely more secure than PayPal or other forms of electronic payment.

I would not accept any other form of e-transfer.

Wire is still the safest way.


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Steve O.
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Re: e transfers???

Post by Steve O. » Sun Nov 17, 2019 6:33 am

As you may know, an eCheck (eTransfer) is an electronic transfer from a buyer's bank account to your PayPal account. It's like writing an electronic check. I've received this form of payment before, and while legitimate, can take up to a week for the funds to clear into your account. Not my preferred method. The only thing that you may have to do is "accept" the funds once available. Hopes this helps.

Edit: I misunderstood, thought you were asking about PayPal eTransfers.
Last edited by Steve O. on Sun Nov 17, 2019 6:36 am, edited 1 time in total.
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Chocodove
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Re: e transfers???

Post by Chocodove » Sun Nov 17, 2019 6:34 am

I’ve also used Zelle quite a bit. As I understand it, it’s as secure as a wire. Once the money shows up in your account it’s not going anywhere unless you transfer it somewhere else.
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BacoNoir
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Re: e transfers???

Post by BacoNoir » Sun Nov 17, 2019 7:22 am

I believe Zelle has a limit of somewhere around $2k to $3k
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jimyritz
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Re: e transfers???

Post by jimyritz » Sun Nov 17, 2019 8:28 am

Zelle is not a secure wire-- it is a person to person transfer via ACH ( automated clearinghouse). I would not use Zelle unless I was sending money to a friend. It is nearly impossible to get back. I would use eTRansfer via Paypal before Zelle or any P2P service.

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Axelay2003
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Re: e transfers???

Post by Axelay2003 » Sun Nov 17, 2019 9:13 am

jimyritz wrote:
Sun Nov 17, 2019 8:28 am
Zelle is not a secure wire-- it is a person to person transfer via ACH ( automated clearinghouse). I would not use Zelle unless I was sending money to a friend. It is nearly impossible to get back. I would use eTRansfer via Paypal before Zelle or any P2P service.
In my situation, the buyer is trusting me to deliver.

“Hi Gerald
Let me know how you want to proceed
I was hoping to do it through PayPal, unfortunately I lost my wallet, so I'm waiting on a new credit card, probably be here in a couple days
We could do e-transfer, that's me having trust in you
Would you like a payment now for the watch and then you find out the shipping or would you like it altogether?”

I’m gullible by nature. I think this guys is legit. Plus he is taking all the risk, unless I’m not seeing what is apparent to you all.

BTW he just signed up yesterday on WUS to inquire about a watch I have for sale. He has been looking for this particular watch for a long time. So, yes, zero post and no reference. He did provide all of his contact info, including address, phone, email, and eBay handle.
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matt.wu
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Re: e transfers???

Post by matt.wu » Sun Nov 17, 2019 9:28 am

Axelay2003 wrote:
jimyritz wrote:
Sun Nov 17, 2019 8:28 am
Zelle is not a secure wire-- it is a person to person transfer via ACH ( automated clearinghouse). I would not use Zelle unless I was sending money to a friend. It is nearly impossible to get back. I would use eTRansfer via Paypal before Zelle or any P2P service.
In my situation, the buyer is trusting me to deliver.

“Hi Gerald
Let me know how you want to proceed
I was hoping to do it through PayPal, unfortunately I lost my wallet, so I'm waiting on a new credit card, probably be here in a couple days
We could do e-transfer, that's me having trust in you
Would you like a payment now for the watch and then you find out the shipping or would you like it altogether?”

I’m gullible by nature. I think this guys is legit. Plus he is taking all the risk, unless I’m not seeing what is apparent to you all.

BTW he just signed up yesterday on WUS to inquire about a watch I have for sale. He has been looking for this particular watch for a long time. So, yes, zero post and no reference. He did provide all of his contact info, including address, phone, email, and eBay handle.
Lots of red flags to me. Can you afford to take a whole loss on the watch? How bad do you want/need the sale?

He may be legit, but he also may not be...
:htfu:

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Axelay2003
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Re: e transfers???

Post by Axelay2003 » Sun Nov 17, 2019 9:31 am

matt.wu wrote:
Sun Nov 17, 2019 9:28 am
Axelay2003 wrote:
jimyritz wrote:
Sun Nov 17, 2019 8:28 am
Zelle is not a secure wire-- it is a person to person transfer via ACH ( automated clearinghouse). I would not use Zelle unless I was sending money to a friend. It is nearly impossible to get back. I would use eTRansfer via Paypal before Zelle or any P2P service.
In my situation, the buyer is trusting me to deliver.

“Hi Gerald
Let me know how you want to proceed
I was hoping to do it through PayPal, unfortunately I lost my wallet, so I'm waiting on a new credit card, probably be here in a couple days
We could do e-transfer, that's me having trust in you
Would you like a payment now for the watch and then you find out the shipping or would you like it altogether?”

I’m gullible by nature. I think this guys is legit. Plus he is taking all the risk, unless I’m not seeing what is apparent to you all.

BTW he just signed up yesterday on WUS to inquire about a watch I have for sale. He has been looking for this particular watch for a long time. So, yes, zero post and no reference. He did provide all of his contact info, including address, phone, email, and eBay handle.
Lots of red flags to me. Can you afford to take a whole loss on the watch? How bad do you want/need the sale?

He may be legit, but he also may not be...
I could afford to lose this watch. I don’t need the sale that bad. I was in a similar situation when I first ventured in buying a watch from forums with having only a couple of posts and no reference.
It's a beautiful world! Gerald.
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toxicavenger
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Re: e transfers???

Post by toxicavenger » Sun Nov 17, 2019 9:57 am

a ton of red flags for me. pass

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CGSshorty
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Re: e transfers???

Post by CGSshorty » Sun Nov 17, 2019 2:12 pm

My law enforcement opinion is that guy is shady as fuck.
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hoppyjr
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e transfers???

Post by hoppyjr » Sun Nov 17, 2019 2:22 pm

Knowing the history of how PayPal sides with the buyer, there is zero chance I’d accept any form of PayPal for any sale - unless I’m fully prepared to take the entire loss.

While Zelle is an electronic transfer via ACH, it doesn’t allow the transaction unless the sender has available funds in their account. Once accepted or transferred the transaction is not reversible.

I suspect a Zelle transaction could be reversed if the account holder claimed fraudulent use of their account, but to fake that is some next level shit, certainly more effort and more risky for the account holder than making a PayPal claim. Bottom like; Zelle is more secure than PayPal for a seller, PayPal better for a buyer. Wire is best.

While Zelle has daily limits, they are not the same for ever user. I’ve had buyers make payments on consecutive days to ensure I get the full amount without issue. I always wait until the next business day to ship also.

Edit: to be clear, Zelle isn’t a PayPal alternative, it’s the electronic protocol/provider that most of the U.S. banks have chosen to facilitate a consistent electronic banking transfer. Chase Bank used to have “Quick Pat by Chase” and they replaced it with Zelle.

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Re: e transfers???

Post by River Rat » Sun Nov 17, 2019 2:50 pm

Have him pay with a money order after the money order is cleared and the money is good send him the watch. Another sure way but old fashioned if he don't like it he can keep looking for this watch from another seller. Just a idea and he is the only one that has to trust you and you don't have to worry trusting him.

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Re: e transfers???

Post by toxicavenger » Sun Nov 17, 2019 3:22 pm

i am sure the next excuse from him is he is using his wife's email address. That usually the way it works when they are scamming people. I have heard the "lost my wallet and can't use paypal" excuse way to many times. If this shit is linked to you bank acct you do not need credit cards or a wallet.

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Axelay2003
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Re: e transfers???

Post by Axelay2003 » Sun Nov 17, 2019 3:29 pm

This would not be a PayPal transaction. He was the one who mentioned e-transfer. I definitely can see how the buyer has the higher risk in this transaction. I’ll ask him if he would consider money order.
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hoppyjr
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Re: e transfers???

Post by hoppyjr » Sun Nov 17, 2019 4:05 pm

Axelay2003 wrote:This would not be a PayPal transaction. He was the one who mentioned e-transfer. I definitely can see how the buyer has the higher risk in this transaction. I’ll ask him if he would consider money order.
Money orders are counterfeited all the time, just like checks.

It seems you are looking for risk.....

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Re: e transfers???

Post by River Rat » Sun Nov 17, 2019 4:12 pm

hoppyjr wrote:
Sun Nov 17, 2019 4:05 pm
Axelay2003 wrote:This would not be a PayPal transaction. He was the one who mentioned e-transfer. I definitely can see how the buyer has the higher risk in this transaction. I’ll ask him if he would consider money order.
Money orders are counterfeited all the time, just like checks.

It seems you are looking for risk.....
You wait till it clears and the cash in your account before you ship watch easy. It won’t clear if it’s a fake one no risk that way.

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Axelay2003
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Re: e transfers???

Post by Axelay2003 » Sun Nov 17, 2019 4:25 pm

River Rat wrote:
Sun Nov 17, 2019 4:12 pm
hoppyjr wrote:
Sun Nov 17, 2019 4:05 pm
Axelay2003 wrote:This would not be a PayPal transaction. He was the one who mentioned e-transfer. I definitely can see how the buyer has the higher risk in this transaction. I’ll ask him if he would consider money order.
Money orders are counterfeited all the time, just like checks.

It seems you are looking for risk.....
You wait till it clears and the cash in your account before you ship watch easy. It won’t clear if it’s a fake one no risk that way.
I’ve had a money order experience that was good. I waited until it cleared and then I sent the watch.
It's a beautiful world! Gerald.
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Re: e transfers???

Post by Selym » Sun Nov 17, 2019 6:25 pm

Seems sketchy. When in doubt, move on. It isn't worth the drama.

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Re: e transfers???

Post by matt.wu » Sun Nov 17, 2019 6:56 pm

Money order (or check deposits, etc...) are even worse. Lots of times it will clear, and then your bank will find out it’s counterfeit weeks later, and guess who’s out the money?

(It’s not the bank)
:htfu:

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hoppyjr
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Re: e transfers???

Post by hoppyjr » Sun Nov 17, 2019 6:58 pm

matt.wu wrote:Money order (or check deposits, etc...) are even worse. Lots of times it will clear, and then your bank will find out it’s counterfeit weeks later, and guess who’s out the money?

(It’s not the bank)
This was my point, but I guess I wasn’t specific enough. It’s a terrible idea to accept check or money order - unless you know and trust the buyer.


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Re: e transfers???

Post by River Rat » Sun Nov 17, 2019 7:27 pm

There are phone numbers to call to verify money orders easy to find on the net. You call with the serial number of it and other info like the amount and who it’s for.
US Post Office money order
866-459-7823
There are other numbers for wester union and MoneyGram that do money orders and call the bank if it came from if a bank one but get number on the net not one on the money order. After they tell you it’s legit then cash it they will have a record of it if legit. There are ways to protect your self.

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Re: e transfers???

Post by para13cord » Sun Nov 17, 2019 8:13 pm

Joined recently and has been looking for your specific watch for a long time? Unlikely.

Take payment in some kind of crypto or cash otherwise I wouldn’t do it.

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Re: e transfers???

Post by toxicavenger » Sun Nov 17, 2019 9:00 pm

matt.wu wrote:
Sun Nov 17, 2019 6:56 pm
Money order (or check deposits, etc...) are even worse. Lots of times it will clear, and then your bank will find out it’s counterfeit weeks later, and guess who’s out the money?

(It’s not the bank)
I found this out years ago!! Freaking a week later I was out $300. :banghead:

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Steve O.
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Re: e transfers???

Post by Steve O. » Sun Nov 17, 2019 9:02 pm

Depending on how large the amount, you can cash a Postal money order right at the post office. It's on them to authenticate. Once you have money in hand, you can ship the watch.
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