Quick! Any harm in giving out bank account info for a wire transfer?

[Hampshire]

@Really Not All That Bright

Well, plenty, if you aren’t paying attention. There’s nothing to stop someone with your account and routing numbers from creating their own checks, which will draw on your account given a reasonable facsimile of your signature.

Sometimes they won’t even need that.

But that would mean each and every time you write a check to someone for something they now have your account/routing numbers and you’re at risk.
If it was that easy you would think it would happen a lot more than it does.

[Santo_Rugger]

@Dr. Woo

I’d go with the money order too. The wire will cost the remitter a bunch - at least $30, and it will cost you as well.

Plus, I can’t imagine why the remitter wants to pay $30 when a postal money order costs, what, $5?

Personally, I’d be more comfortable with a wire transfer, both in giving and receiving. An ACH (sp?) transfer is completely free to initiate at my bank, so the $30 argument is moot. Second, if somebody were to try to fake a money order, I’m pretty sure it’d be a lot easier than to fake a wire transfer.

[Really_Not_All_That_Bright]

@Hampshire

But that would mean each and every time you write a check to someone for something they now have your account/routing numbers and you’re at risk.
If it was that easy you would think it would happen a lot more than it does.

Every time you use your credit card you give the store’s employees the ability to charge stuff to it, too. All they have to is manually key in the number.

[Mr.Slant]

@Athena

He’s in the US. I think his motivation for doing the wire transfer is speed - he really wants the item as quickly as he can get it.

Regardless, Mr. Athena decided to go with having him send a check of some sort. Thanks for all the replies.

Most scammers in a big hurry. Just thought I’d mention that.
Western Union is pretty safe for you, too…

[Mr.Slant]

@CookingWithGas

Couldn’t hurt to ask your bank.

Also note that counterfeit postal money orders are not unheard of. They are particularly nasty because your bank will usually credit the deposit to your account right away but they can take up to a month to bounce, long after you have delivered merchandise. However, the usual scam is to overpay using a money order then ask for the overpayment back in cash.

There is an 800# you can cell to validate USPS money orders. It’s posted somewhere on the USPS site.

[Athena]

@Mr. Slant

Most scammers in a big hurry. Just thought I’d mention that.
Western Union is pretty safe for you, too…

Yeah I know. But Mr. Athena is pretty good at checking up on people. He sells a LOT of big ticket items via various message boards (he’s a gear head) and has yet to be scammed, so I think his Scam-fu works well.

[Otto]

@butler1850

If it’s speed of funds transfer that he’s after, why not use PayPal? The buyer can even use a credit card (with a slight additional fee to someone, if I recall correctly from the last time I used it).

I’ve sent money via PayPal with a credit card (debit card actually but I don’t think PayPal knows the difference) several times over the last couple of weeks and neither I nor the recipient has been charged a fee.