Intersting Story

As some of you may know I have recently put my car up for sale. I have it posted it here as well as on the Samba. A couple of days ago I recieve an email from a gentleman in France (1st cautionary flag) expressing interest. He asks some questions and for a few additional photos. Long story short, today he emails and asks for my bank account info so he can wire the money. I responded and told him that is a huge red flag and that I'm not interested. He has a friend here in the states call me to "verify" his legitamacy. His friend procedes to tell me that he is an import/export car dealer and that they do that all the time. He also told me that he just arranged the sale of a 1970 Charger for $20,000 (thought it seemed kind of low, but whatever). I just wanted your opinion on the subject. I'm convinced it's shady but if I've been too quuick to judge I'd like to know. Thanks for your input.

Never EVER give out your bank account number to anybody!!! EVER!!!!

They will drain you faster than starving vampire. If you want to test them out and are willing to lose a small amount, open up an account with the absolute minimum and give them that info. My guess is that it'll disappear and you'll either never hear back, or they'll call you and ask why you don't trust them. If not, hey, you lucked out.

I do wire transfers all the time, your bank will supply a SWIFT number that his bank will use to send to your bank, then the account can be accessed. Or better yet ask for an Irrevocable letter of credit and have it clear before you release the car. Money is transferred all the time around the world, contact your bank and explain what they can offer that is 100% safe for both parties.

Chris:

Very much like your paycheck you can have the bank provide you with the necessary set-up to allow only a deposit on your account via transfer. It does not however I think ensure that they will not use that account number in another way. Just my two cents. I sold a 69 Porsche to a guy in the Netherlands and had him send me a bank check, and I sent him the car. Play it safe no matter what. Better to lose the sale than lose the car.

B.rgds
Andres D.

Mike is correct, a bank SWIFT number is necessary to deposit funds into your account,
I have used this secure wire transfer method a number of times inclusive of the Gazelle I bought at Carlisle and sold to a collector in Denmark.

If you are really suspicious go to a bank that you do not usually do business with and open a new account....

Ahh... Wire transfers... You really think they are safe, huh?

We bought an engine off ebay - 3.0 911 engine. Guy wanted a wire transfer to his bank account - a legit US bank. So we did.

Kissed it goodbye. Not only are we out the $3,500 or whatever it was dollars, his bank refused to release any information to either me even with a police report. No address, no social security number, no phone number, no driver's license. Our local police department point blank told me that their computer crimes division is not going to bother with this because they are short staffed and would be better off spending time on child pornography.

Actually, I agree with them... But the point is, that a wire transfer is the equivalent of folding your money into a paper airplane and throwing it out the window. The other bank says "yeah we got it," but you have nothing. No way to confirm the authenticity of the guy on the other end etc.

Do an escrow account for large quantities, even if you have to pay the charges for the account you will be money WAY ahead. Any legitimate seller would accept an escrow account.

Otherwise, only transfer what you can afford to lose. As for me, I wound up selling our ski boat to pay for an engine. I definately could not afford it...

I realize you are selling, but the same rules apply.
angela

Thanks for all the input. I felt uneasy about it and that was enough for me to put the breaks on.

that would be BRAKES

Your on the safer side of the transaction. I would do as stated above, open a new account and give that information. The bank can and will protect your information so all that can happen is money goes in... I dont see a whole lot of risk. There is a guy in Germany that is buying up Cobra replicas and using wire transfers to do it. I personally would have no problems with somone from europe transferring funds by wire into my account (not my personal checking mind you) and once its confirmed, transfer the money out and into your own personal account. Its not like those certified checks that take weeks to confirm authenticity.

James

Like Mike says...SWIFT number is the way to do this. Be aware of the fees you will be charged for your side of the transaction because if they are significant you need to consider that. Also, be sure its in US $ and not an equivilent amount of Euros because your bank will nail you on the exchange.

You're in the driver's seat on this one as you'll have the money...unlike Angela's unfortunate experience. But don't give out your bank info.

Not only was I not in the driver's seat, I think I was actually under the wheels...
angela

Angela,
I would get a higher authority i.e. the FBI involved. That's grand theft and with a bank institution involved, it's a federal crime.... Pound on some doors that's a lot of jingle.

Second Alan, Angela. A friend got hosed by a hacker using Ebay and he was told that the FBI has jurisdiction.