Is it safe to use wire transfer?

[loic2003]

I just bailed someon out who was about to do a wire transfer through ebay. Turns out it was a scam.

 

[fuzzybabybunny]

Originally posted by: 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.

This basically means you really need to know the owner of the bank account. There are so many bad things that can happen with this little thing though.

1. You send money to bank account, owner picks it up, does not ship you products. You're screwed. There's no "chargeback."

2. You send money to bank account provided by seller. Bank account does not actually belong to seller, but is a cohort and he collects your money and both seller and cohort run off.

3. You send money to bank account provided by middleman. Middleman says bank account is a business account owned by an overseas distributor of the product and the payment should be wired to Account #1234 under the name of XYZ Corporation. Bank wires money to Account #1234 but the account actually belongs to Bill Bob or a fake XYZ Corporation. They run off with your money and both you and the middleman are screwed.

 

[MeddyDuo]

Originally posted by: 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.

He said he was going to get his lawyer to write one, and he was telling me how it would cost $3K, but then a couple days later he "found a cousin in the US" so he's not getting a contract written.

I'm just not sure about him. He legitimately makes $500-$1000 per day from his website, so I don't see why he would need to scam me. Plus we have tons of emails and chats (though I didn't save the chats) so he seems legit that way. But then he says he's a student in Australia, but when I get online at 9 or 10 in the morning, he's online, and that is 3am or 4am where he supposedly lives. So that just doesn't seem right.

 

[iroast]

It is safe to get the $ go where it should. However, you don't have any safety net. If he bails, you won't see the money again.

 

[maximus maximus]

Originally posted by: MeddyDuo

Originally posted by: 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.

He said he was going to get his lawyer to write one, and he was telling me how it would cost $3K, but then a couple days later he "found a cousin in the US" so he's not getting a contract written.

I'm just not sure about him. He legitimately makes $500-$1000 per day from his website, so I don't see why he would need to scam me. Plus we have tons of emails and chats (though I didn't save the chats) so he seems legit that way. But then he says he's a student in Australia, but when I get online at 9 or 10 in the morning, he's online, and that is 3am or 4am where he supposedly lives. So that just doesn't seem right.

why the heck would a lawyer charge $3k for a contract. You dont even need a lawyer for a contract like this.

Just type a small document with all the relevant points outlining how the deal would go through. Ask him to fax his identification, drivers id, a copy of his electricity / phone bill (with his home address on it) and you should send him the same. This is just to make sure that you cover your ass.

Dude.. with $1k per day, he must be making like $250 mill a year at least. A student earning $250 mill sounds too good to be true, IMHO.

 

[MeddyDuo]

Originally posted by: maximus maximus

why the heck would a lawyer charge $3k for a contract. You dont even need a lawyer for a contract like this.

That's what I told him, but he said that with as much as he makes, $3k isn't too much for him.

Dude.. with $1k per day, he must be making like $250 mill a year at least. A student earning $250 mill sounds too good to be true, IMHO.

Isn't 1k a day 365k per year??? Anyways, when he was using my account he had high days of almost 1k, but I think the average day was around $700. I asked him why he is going to school if he's making this much and he said:
1. parents want him to
2. girls and beer
3. backup plan

 

[Beattie]

Why are you even dealing with this person in the first place?

 

[MeddyDuo]

Originally posted by: Beattie
Why are you even dealing with this person in the first place?

Because I was making $100+ a day without doing anything... I think I was actually averaging around $150 a day. He said we would probably partner for at least 4 months.

 

[FoBoT]

this sounds illegal

you are probably breaking some laws


<forwards URL of this thread to the FBI>

 

[MeddyDuo]

Originally posted by: FoBoT
this sounds illegal

you are probably breaking some laws


<forwards URL of this thread to the FBI>

Yeah we are breaking so many laws... wait which ones? :roll:

 

[Mill]

JESUS CHRIST. Partnered doing WHAT? You never told us HOW you were making money with this clown. Were you selling child porn or something?

 

[MeddyDuo]

Originally posted by: Mill
JESUS CHRIST. Partnered doing WHAT? You never told us HOW you were making money with this clown. Were you selling child porn or something?

Advertising program for websites... Put ads on your sites and you get paid. So he put my ads on his site and then we split the profits.

 

[Double Trouble]

None of us know the details of your setup and what you guys have worked out, but to me it sure as heck smells like a scam. Quacks like a duck, walks like a duck, odds are it's a duck. I'd stay away from any wire transfers since you'll have no recourse when things go awry.

 

[MeddyDuo]

Originally posted by: tagej
None of us know the details of your setup and what you guys have worked out, but to me it sure as heck smells like a scam. Quacks like a duck, walks like a duck, odds are it's a duck. I'd stay away from any wire transfers since you'll have no recourse when things go awry.

Yeah I know it's kind of complicated for people that don't understand website advertising stuff.
I think I might email him and ask for his ID or something, and then use PayPal to send him the money. I know he has PayPal because he sent me $100 before I gave him my password, so I would trust him (I made him do that).

 

[minendo]

Originally posted by: MeddyDuo

Originally posted by: Mill
JESUS CHRIST. Partnered doing WHAT? You never told us HOW you were making money with this clown. Were you selling child porn or something?

Advertising program for websites... Put ads on your sites and you get paid. So he put my ads on his site and then we split the profits.

I find it quite hard to believe that your website riddled with subpar reviews and a membership of a mere 22 was able to generate $2000+ in advertising revenue.

 

[FoBoT]

especially without ever giving away free ipods

 

[MeddyDuo]

Originally posted by: minendo

Originally posted by: MeddyDuo

Originally posted by: Mill
JESUS CHRIST. Partnered doing WHAT? You never told us HOW you were making money with this clown. Were you selling child porn or something?

Advertising program for websites... Put ads on your sites and you get paid. So he put my ads on his site and then we split the profits.

I find it quite hard to believe that your website riddled with subpar reviews and a membership of a mere 22 was able to generate $2000+ in advertising revenue.

I find it quite amazing that you have been here since 2001 and you can't read.

And fobot, remember I put the poll up here for what to give away, and the Wii got the majority vote