tc61380
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posted on January 10, 2001 09:08:03 AM
I have an international buyer from bahrain who says he will "will make a draft in your name drawn on U.S. Bank in U.S. Currency. Draft means, we pay the amount in cash to the Bank here and the Bank will issue a draft instead. This is the normal procedure. When you present the draft at
your Bank, you will get the money."
Anyone heard of this? What if I gave them my online bank account? He also asked for my account name and account no.
Kinda worried about this...
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sharkbaby
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posted on January 10, 2001 09:17:52 AM
Talk about scary!!! Be afraid, be VERY afraid!
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sparkz
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posted on January 10, 2001 09:46:28 AM
Tell him you don't have a bank account. Your banking information is none of his business. Suggest he pay by Bidpay. It's faster, cheaper and a whole lot safer.
The light at the end of the tunnel will turn out to be an oncoming train.
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abacaxi
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posted on January 10, 2001 09:48:40 AM
They do NOT need anything but your name to have a "bank draft" ... he might be talking about a wire transfer, but do NOT give the account number and routing information out unless you know what they intend to do with it.
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yankeejoe
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posted on January 10, 2001 09:49:25 AM
I know of a lot of countries that use bank drafts like that. I still wouldn't give him the info though.
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bobbysoxer
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posted on January 10, 2001 09:50:50 AM
Please report the seller to [email protected].
not bobbysoxer on eBay
[email protected]
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pickersangel
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posted on January 10, 2001 09:59:56 AM
I don't believe he needs your account info to do a bank draft payable to you. He just needs your name and address, so that a cashier's check can be made out and mailed to you by the US bank on which he drafts the payment. If you have any question about this, I'd contact your bank and find out what's required for someone outside the US to use a bank draft to pay someone in the US.
always pickersangel everywhere 
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celebrity8x10s
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posted on January 10, 2001 10:59:38 AM
You will notice that quite a few international bidders will try to send payment this way. It is quite common overseas, as money orders can cost as much as $30 regardless of the amount of the payment. I either suggest using bidpay or have them send cash via registered mail. Just tell them you deal with a small bank that does not do electronic funds transfers. Better to play it safe, but I wouldn't jump the gun and think that the bidder is trying to access your bank account.
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lattefor2
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posted on January 10, 2001 11:10:20 AM
where is bahrain?
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mrjoker
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posted on January 10, 2001 11:12:26 AM
isnt it near iraq?
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brighid868
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posted on January 10, 2001 11:16:46 AM
my ex used to work in Bahrain, it's an extremely rich, tiny country in the Persian Gulf. Also known for being one of the Muslim countries with the most "relaxed" standards for women and religious tolerance, probably due to the fact that tons of people from the West live there and the influence trickles down. Having formerly worked for a company that imported from the Middle East and India frequently, I can tell you that wire transfers and bank drafts are really common between them and the US. With our Indian suppliers, this was because the mails were so slow and corrupt---lots of things got stolen en route and they felt safer going from bank to bank. I am not saying your buyer is definitely OK I am just saying that he is not asking for anything strange.
wire transfers leave a very distinct paper trail as they are transitioned from bank to bank (sometimes go through 4 or 5 before getting to the final destination bank). Not as easy to rip someone off as you'd think. Anyone you give a check to has your routing and account number by the way.
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codasaurus
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posted on January 10, 2001 01:40:02 PM
I think...
Drafts are a financial instrument of long standing. They are a bit like a cashier's check in that they are backed by the bank or business that issues them. The issuing institutuion ensures that the money is there by requiring payment from whoever purchases the draft. In the case of a business issuing a draft the business is formally committing itself to payment of the amount the draft is for.
Old commericial telegraph codes are full of references to various types of drafts. I recall references to "sight drafts" which I have always assumed to be honored by a bank when presented without any requirement that the presenter is the intended recipient of the money. A bit like a check written to cash.
I can think of no reason why someone wishing to pay by draft would require the payee's account info.
Perhaps there is just some miscommunication as a result of the two cultures of seller and buyer?
[ edited by codasaurus on Jan 10, 2001 01:41 PM ]
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