Is it safe to use wire transfer?

[MeddyDuo]

Ok I partnered with someone from Hong Kong or Australia for a few days, and then he decided to partner with someone else, but when I get paid I owe him about $1000. He wants me to wire the money to him.
I was just wondering if this is safe, like if he says that he didn't get the money then can I prove that he did?

He doesn't seem too scammy, but I'm just not sure.

 

[AgentJean]

Eject Eject Eject.

Overseas and wire transfers = bad juju.

 

[WildHorse]

I use wire transfers all the time in business. Safe. (All of my business is "business - to - business, the majority of it is international)

The only thing is, the banks usually charge around $30 for it.

If it's of a more personal nature, like you paying to a personal acquaintance, then I don't have experience with that & can't comment. Maybe an interpersonal payment could be better handled as a transfer from your PayPal account into his?

 

[jpeyton]

Only to Nigeria.

 

[MeddyDuo]

It's not a Nigerian scam, but that's why I was worried when he said he wanted wire transfer. I might just do PayPal if he will accept it, but I don't know if he will.

Basically I gave him my password to one of my accounts which he used to make money, and then he said he found someone else's account to use. So I changed the password and now I have all the money. We are going to split it, but I don't want him to say he didn't get any money, so I need a way to track it.

 

[BigJ]

You'll be fine using a MO to send. Once the recipient picks it up, it's the safest way of doing business. Can't be cancelled, chargebacked, or have a refund requested.

 

[MeddyDuo]

Originally posted by: BigJ
You'll be fine using a MO to send. Once the recipient picks it up, it's the safest way of doing business. Can't be cancelled, chargebacked, or have a refund requested.

But then I can't see if he cashed it, and do I even get a receipt? And what happens if it gets lost or if he says he didn't get it?

 

[BigJ]

Originally posted by: MeddyDuo

Originally posted by: BigJ
You'll be fine using a MO to send. Once the recipient picks it up, it's the safest way of doing business. Can't be cancelled, chargebacked, or have a refund requested.

But then I can't see if he cashed it, and do I even get a receipt? And what happens if it gets lost or if he says he didn't get it?

With Western Union, you get a receipt and a MTCN. The MTCN shows the status of the MO and if it was picked up or not.

 

[MeddyDuo]

Originally posted by: BigJ

Originally posted by: MeddyDuo

Originally posted by: BigJ
You'll be fine using a MO to send. Once the recipient picks it up, it's the safest way of doing business. Can't be cancelled, chargebacked, or have a refund requested.

But then I can't see if he cashed it, and do I even get a receipt? And what happens if it gets lost or if he says he didn't get it?

With Western Union, you get a receipt and a MTCN. The MTCN shows the status of the MO and if it was picked up or not.

I live in a tiny town, so I don't have WE. I would have to go to my bank for the MO or wire transfer.

 

[Scarpozzi]

Wire Transfers are bad because there is little or no accountability on the other end. Meaning, almost anyone can pick up the money on the other side.

It's better to use means that end in a definite location, and or account number.

 

[BigJ]

Originally posted by: MeddyDuo

Originally posted by: BigJ

Originally posted by: MeddyDuo

Originally posted by: BigJ
You'll be fine using a MO to send. Once the recipient picks it up, it's the safest way of doing business. Can't be cancelled, chargebacked, or have a refund requested.

But then I can't see if he cashed it, and do I even get a receipt? And what happens if it gets lost or if he says he didn't get it?

With Western Union, you get a receipt and a MTCN. The MTCN shows the status of the MO and if it was picked up or not.

I live in a tiny town, so I don't have WE. I would have to go to my bank for the MO or wire transfer.

Send an international MO with the USPS (if you can to the country) and you'll get a confirmation number and receipt. Then send it via registered mail (whatever that is internationally).

With your bank, I'm not sure but you should get a receipt and a confirmation number.

 

[MeddyDuo]

Originally posted by: Scarpozzi
Wire Transfers are bad because there is little or no accountability on the other end. Meaning, almost anyone can pick up the money on the other side.

It's better to use means that end in a definite location, and or account number.

Well don't I need his bank account info? I have never done one of these before, but I think he wants it wired to his account.

 

[BigJ]

Originally posted by: MeddyDuo

Originally posted by: Scarpozzi
Wire Transfers are bad because there is little or no accountability on the other end. Meaning, almost anyone can pick up the money on the other side.

It's better to use means that end in a definite location, and or account number.

Well don't I need his bank account info? I have never done one of these before, but I think he wants it wired to his account.

You can wire to an account. Go to your bank and ask them about the details. They can tell you far more about what they offer than we can.

 

[WildHorse]

Originally posted by: MeddyDuo

Originally posted by: Scarpozzi
Wire Transfers are bad because there is little or no accountability on the other end. Meaning, almost anyone can pick up the money on the other side.

It's better to use means that end in a definite location, and or account number.

Well don't I need his bank account info? I have never done one of these before, but I think he wants it wired to his account.

Yes that's right. Your bank wires it (swift) out of your bank account and into his bank account. The wire transfer is "bank-to-bank" and fully traceable. It's the good secure way to move money. I do it all the time.

Scarpozzi is misinformed in saying "almost anyone can pick up the money on the other side." The only way to get the money is to withdraw it out of the bank account.

Ask the other guy to e-mail you his bank's routing number and account number, bank name & address, and give that to your sending bank. If he allows someone else to make withdrawals from his account, that's his problem, not yours. The fact that you paid into his account is fully documented & traceable, protecting you.

Again, on your (the sender's) end, your own bank will typically charge you around $30.
On the receiving guy's end his bank will probably also deduct a small processing fee from his account too, typically around $10.

Look on your bank's web site & you'll probably see their wire transfer fees listed.

But for such a small amount of money, better just have him open a free PayPal account & pay from your PayPal into his. Easy!

Curious: What was your deal with that guy about, anyway?

edited for typos

 

[MeddyDuo]

Originally posted by: scott

Originally posted by: MeddyDuo

Originally posted by: Scarpozzi
Wire Transfers are bad because there is little or no accountability on the other end. Meaning, almost anyone can pick up the money on the other side.

It's better to use means that end in a definite location, and or account number.

Well don't I need his bank account info? I have never done one of these before, but I think he wants it wired to his account.

Yes that's right. Your bank wires it (swift) out of your bank account and into his bank account. The wire transfer is "bank-to-bank" and fully traceable. It's the good secure way to move money. I do it all the time.

Scarpozzi is misinformed in saying "almost anyone can pick up the money on the other side." The only way to get the money is to withdraw it out of the bank account.

Ask the other guy to e-mail you his bank's routing number and account number, bank name & address, and give that to your sending bank. If he allows someone else to make withdrawals from his account, that's his problem, not yours. The fact that you paid into his account is fully documented & traceable, protecting you.

Again, on your (the sender's) end, your own bank will typically charge you around $30.
On the receiving guy's end his bank will probably also deduct a small processing fee from his account too, typically around $10.

Look on your bank's web site & you'll probably see their wire transfer fees listed.

But for such a small amount of money, better just have him open a free PayPal account & pay from your PayPal into his. Easy!

Curious: What was your deal with that guy about, anyway?

edited for typos

Ok, thanks.

The "deal" with the guy is that I'm in an advertising program that he can't get in to because he is not a US resident, and it pays a lot more than the advertising program he is in. So he wanted to use my account to put ads on his site. Then I would keep 20% and send the rest to him (I get money without doing anything). But after 4 or 5 days he said he found a cousin that lived in the US and he was going to partner with him. So we are going to split the earnings 50/50.

 

[PokerGuy]

Wires are perfectly safe, and provide you with a trace of the payment, the only issue with a wire is that once it's gone, there is no way to recall, cancel, void etc. It's gone. That's why scammers love having their victims wire money to them, that way once the money is wired they are home free, no matter what you do after that.

 

[Blazin Trav]

Originally posted by: MeddyDuo
Ok I partnered with from Hong Kong or Australia for a few days, and then he decided to partner with someone else, but when I get paid I owe him about $1000. He wants me to wire the money to him.
I was just wondering if this is safe, like if he says that he didn't get the money then can I prove that he did?

He doesn't seem too scammy, but I'm just not sure.

That didn't make any sense, when you get PAID you OWE him 1k? WTF?

 

[minendo]

Originally posted by: MeddyDuo
It's not a Nigerian scam, but that's why I was worried when he said he wanted wire transfer. I might just do PayPal if he will accept it, but I don't know if he will.

Basically I gave him my password to one of my accounts which he used to make money, and then he said he found someone else's account to use. So I changed the password and now I have all the money. We are going to split it, but I don't want him to say he didn't get any money, so I need a way to track it.

Are you an idiot? This is a scam. Don't send him any money.

 

[jjones]

wow, lots of misinfo here about wire transfers. They are perfectly safe and completely traceable. They are bank account to bank account transfers so there is complete accountability. Given options of sending money internationally, wire transfers are the best if you don't mind the service fees.

 

[amdforever2]

After you give him his money back, what if he reverses the transaction that gave you the money in the first place? That would leave you negative.

 

[Double Trouble]

Originally posted by: jjones
wow, lots of misinfo here about wire transfers. They are perfectly safe and completely traceable. They are bank account to bank account transfers so there is complete accountability. Given options of sending money internationally, wire transfers are the best if you don't mind the service fees.

I don't think anyone is disputing whether wires themselves are "safe" in terms of getting money from point a to point b, the issue (as I pointed out in my post) is that wires leave you with no recourse once they are sent. Nothing wrong with that when you are doing a legitimate transfer, but if a private party requests that I wire money to him overseas, it raises all sorts of red flags.

 

[MeddyDuo]

Originally posted by: amdforever2
After you give him his money back, what if he reverses the transaction that gave you the money in the first place? That would leave you negative.

He can't, a third party pays me.

 

[FoBoT]

the FBI will be contacting you shortly as you have been involved in laundering money for a terrorist organization

 

[maximus maximus]

Originally posted by: MeddyDuo

Originally posted by: amdforever2
After you give him his money back, what if he reverses the transaction that gave you the money in the first place? That would leave you negative.

He can't, a third party pays me.

something does not feel right...
Its too risky...

I think when you are doing business internationally, it is good to have a legal agreement which is signed by both parties with adequate information and gaurantee (address, national identification, bank account info etc).

Here is a smaple business contract
http://contracts.onecle.com/vastera/ibm.oem.2000.03.30.shtml

Or take a lokk at this one, this is quite simple...
http://www.toolkit.cch.com/tools/agreeformbus_m.asp

This will help you if something goes wrong.

 

[CPA]

Originally posted by: Scarpozzi
Wire Transfers are bad because there is little or no accountability on the other end. Meaning, almost anyone can pick up the money on the other side.

It's better to use means that end in a definite location, and or account number.

A bank to bank wire transfer is as safe as it gets. Only the owner of the account has access to the money.