accepting payment and avoiding getting ripped off

Discussion in 'Community Discussion' started by chstr, Jul 23, 2009.

  1. chstr macrumors 6502a

    chstr

    Joined:
    Mar 25, 2009
    #1
    I am selling my beloved slk230 :( hate to see her go but need the money. anyway, I have an interested buyer on ebay who would be coming from goergia to pick it up in nyc. Obviously I want the money in my account before handing over the keys. If I accept a certified check or money order, bring it to the bank and deposit it, is there anyway to still get the shaft? I have heard of some scam where they can actually take the money back out of the account, any truth to this? thanks
     
  2. AngryApple macrumors 6502

    Joined:
    Dec 25, 2008
    #2
    Some driving from Georgia to NYC? That sounds a little fishy, IMO. It would take a minimum of 15 hours of non stop driving. :eek: Just saying...
     
  3. Xavier macrumors 68020

    Joined:
    Mar 23, 2006
    Location:
    Columbus
    #3
    Yes. Money orders are a bad item. It is very possible that you could get scammed, especially on eBay. Be carful if you choose to take this path.
     
  4. chstr thread starter macrumors 6502a

    chstr

    Joined:
    Mar 25, 2009
    #4
    seems like the best route is to have them cash a check and use the cash to get a certified check in my name and then bring that check to my bank and deposit it. a hassle and I would cover fees but worth it for peace of mind.
     
  5. joro macrumors 68020

    joro

    Joined:
    Jun 11, 2009
    Location:
    NOVA
    #5
    Working in financial services, it can take up to 10 business days for a check to clear depending on the proximity of the banks, how large they are, and what Federal Reserve Branch they use to process items. Theoretically, the process is a littler faster since Check 21 where banks now send each other electronic debits instead of the actual paper check.

    The best way to know, for sure, it’s in the account is to do a wire from his bank (I would make sure it’s domestic) to your bank account as opposed to checks. It’s still possible a wire could be pulled back but the chances of that happening are fractions of a percent since money is pulled immediately from the sending account.
     
  6. yg17 macrumors G5

    yg17

    Joined:
    Aug 1, 2004
    Location:
    St. Louis, MO
    #6
    I think the safest route would be cash. I wouldn't trust any sort of check.
     

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