Randy,
Electronic wire is not a deposit. The other party must had the fund in the bank to do the transfer. I transfer my money to other vender oversea. It a hassle process. But it is good for recieving party.
Your case is different. You give account to someone. They took their check and put in your account for deposit. That consider deposit.
So that is the same thing accepting bad check. The bank will take those money out of your account for none IFF.
That wide I like to accept money transfer from customer that I don't know. Specialy outside of the country.
Once the transfer was done. The money is in my account. The sending party can't reverse the transaction without the bank and my approval.
Creditcard is risky too. Their can reverse the transaction just by saying the never got the products.
Brg,
Tam
ORIGINAL: MACH2JETS
TAM: Hey buddy I don't mean to rain on your day but this is how I was ripped off with wire transfer up till a few months ago when I was selling jets I used to accept this means of payment. The scam works like this, you the seller give the buyer your account # the buyer deposites a fake check into your account you the seller then look at your account and notice that bingo you have funds into your account ( wrong) Mean while you think that the funds have been wired into your account you ship the airplane
and a week or two later the check bounces and you get nailed for the insuffant funds and you loose your aircraft. Guy's do not give anyone your account # for bank wire transfer unless you can verify and talk to a banker on the other end that can verify that the person has cash on hand. Its to easy to go to your bank with a supplied account # with a fake check and deposit it into your own account.... Take care Randy