posted on May 20, 2001 05:47:16 AM new
Goodmorning
I have a buyer who lives in Scotland, and he said "he only pays with
a wire transfer from his bank to my bank account.
I asked him if he could pay me threw Bidpay, he said He doesn't have a credit card.
Can anyone tell me how they feel about wire payments and would it be OK if I were to accept payment that way?
I have never done payment this way before. I also was wondering, Can he
get an International Money Order in Scotland?
posted on May 20, 2001 04:53:56 PM new
Greetings ...... My bank charges a hefty fee for wire transfers, so unless the item in question sold for a hefty amount, it might be best to find out what the WT costs will be.
If WT's aren't mentioned in the sellers TOS, then I see no reason why they should get tagged with the fee.
posted on May 20, 2001 05:53:44 PM new
I can ask my UK Bank to wire US$ to your US Bank account. Assuming we agree who picks up the fees, I see no problems. The UK does trade World Wide!
posted on May 20, 2001 06:00:48 PM new
Never heard of a charge to receive a wire transfer. Most banks/credit unions charge to send a wire transfer (often around $10 for a domestic transfer, $20 for an international transfer).
I use wire transfer quite often with my overseas business partners. Though it's a bit pricey, it's quick, safe & reliable.
The problem is that you will have to give the buyer your checking account number for them to be able to make the transfer. If you don't feel comfortable doing this, then I'd ask for an international money order.
While I'm perfectly comfortable sharing my account number w/my business partners (as they are with me), I'd hesitate to give this information to a bidder on ebay. Unless you want to set up an account strictly to receive this type of payment & it doesn't have a tie in to any other accounts you may have.
BTW, you'll most likely have to provide other information including:
Contact Phone Number
Name of Your Bank
City & State of Your Bank
ABA # (your bank can supply this)
Possibly the Fax, Phone Number & Telex Number for your Bank
There's also a possibility you might have to supply your social security number for your account.
These are the items I have to supply when I use wire transfers. I think they are also beginning to require DOB & Driver's License info on the latest transfers.
posted on May 20, 2001 06:10:11 PM new
Eventer ..... What can I say, I live in Kanada. On the plus side, my bank does not charge me a fee for NSF checks.
posted on May 21, 2001 05:56:52 AM new
International wire transfers are fine, in fact it's the preferred way I as a seller like to get paid. My bank charges $15 on incoming International, and the buyer's bank will probably charge as well, so it has to be a big enough amount to make it worth it. You will NOT have to supply your SS#. You will have to supply bank name and address, account number and ABA number. From Scotland it should take 24-48 hours from the time sent until it's received in your account.
posted on May 21, 2001 04:53:52 PM new
To answer your other question - your buyer can buy an International Money Order over the counter in many banks. They charge a fee of around £8 ($12) for this service. He can pay in cash if it isn't his bank or straight from his account if it is.
posted on May 21, 2001 08:09:46 PM new
Thank you all for responding with information that helped me make a decision on which way would be better for me.
I have decided to ask my buyer to purchase
an International Money Order. He agreed and I feel much better doing payment this way rather then a wire transfer.
I didn't feel comfortable give my bank information out to someone I don't know.
That's why I love this message board, we all help each other out with our
knowledge and experience, that to me is what makes a community a good one.
tonimar1
On the plus side, my bank does not charge me a fee for NSF checks. 