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The seller claims they don't see the transfer on their end, who keeps the car? Buying a car with a bank transfer is a great way to get scammed by someone selli

by rosnd 4y ago

The seller claims they don't see the transfer on their end, who keeps the car? Buying a car with a bank transfer is a great way to get scammed by someone selling the same car multiple times.

bonzini 4y ago
I don't know what kind of prehistoric banking system exists in the US, but that just won't happen. The buyer has a bank transfer id and both parts can check the status with their bank. There are also instant transfers that cost around 1€ of fixed commissions. They complete in about ten seconds after which the other side can check their account and the money will be there. And finally you can use a money order if you really don't want to do a bank transfer and prefer paper.
- benhurmarcel 4y ago
  Instant transfers are free in some banks already even.
- rosnd 4y ago
  >I don't know what kind of prehistoric banking system exists in the US I wouldn't know, given that I am European. > The buyer has a bank transfer id and both parts can check the status with their bank. Generally there is no quick and easy way to verify that the beneficiary has actually received their funds. >There are also instant transfers that cost around 1€ of fixed commissions. They complete in about ten seconds after which the other side can check their account and the money will be there. So what? There are lots of banks which do not support instant transfers, sometimes instant transfer money just doesn't show up instantly and there's very little visibility that end-users would have into that.
benhurmarcel 4y ago
The seller claims you haven’t actually given him the cash, who gets to keep the car?
thiht 4y ago
You give your bag of money to the seller. They take it and leave with the car. What do you do?
- rosnd 4y ago
  Do you not think that straight up robbing somebody requires a different level of commitment than fraud? The guy using a fake app to pretend that they didn't receive a wire transfer isn't going to end up in a fight, the guy robbing someone of their cash might. Not only that, bank transfers do not protect you from robbery. You can be forced to make a wire transfer, just as you can be forced to hand over cash.
B8MGHCBekDuRi 4y ago
> The seller claims they don't see the transfer on their end, who keeps the car you, if you transferred the money. the seller, if you did not.
- rosnd 4y ago
  How could that work? There's no way to tell if the sender or recipient is being dishonest. Another common scam involves the buyer using a fake bank app to pay for goods, seller sees the money transferred right in front of them but never receives it.

by rosnd 4y ago

The seller claims they don't see the transfer on their end, who keeps the car? Buying a car with a bank transfer is a great way to get scammed by someone selling the same car multiple times.

bonzini 4y ago

I don't know what kind of prehistoric banking system exists in the US, but that just won't happen. The buyer has a bank transfer id and both parts can check the status with their bank. There are also instant transfers that cost around 1€ of fixed commissions. They complete in about ten seconds after which the other side can check their account and the money will be there. And finally you can use a money order if you really don't want to do a bank transfer and prefer paper.

benhurmarcel 4y ago
Instant transfers are free in some banks already even.
rosnd 4y ago
>I don't know what kind of prehistoric banking system exists in the US I wouldn't know, given that I am European. > The buyer has a bank transfer id and both parts can check the status with their bank. Generally there is no quick and easy way to verify that the beneficiary has actually received their funds. >There are also instant transfers that cost around 1€ of fixed commissions. They complete in about ten seconds after which the other side can check their account and the money will be there. So what? There are lots of banks which do not support instant transfers, sometimes instant transfer money just doesn't show up instantly and there's very little visibility that end-users would have into that.

benhurmarcel 4y ago

The seller claims you haven’t actually given him the cash, who gets to keep the car?

thiht 4y ago

You give your bag of money to the seller. They take it and leave with the car. What do you do?

rosnd 4y ago
Do you not think that straight up robbing somebody requires a different level of commitment than fraud? The guy using a fake app to pretend that they didn't receive a wire transfer isn't going to end up in a fight, the guy robbing someone of their cash might. Not only that, bank transfers do not protect you from robbery. You can be forced to make a wire transfer, just as you can be forced to hand over cash.

B8MGHCBekDuRi 4y ago

> The seller claims they don't see the transfer on their end, who keeps the car you, if you transferred the money. the seller, if you did not.

rosnd 4y ago
How could that work? There's no way to tell if the sender or recipient is being dishonest. Another common scam involves the buyer using a fake bank app to pay for goods, seller sees the money transferred right in front of them but never receives it.