What's best ..bank draft ???!?

[mooseburger]

Selling a truck to a guy from Utah, not sure which is the safest way to do business with this guy.
Need a little advise on how to receive my money.
How this thing should work etc.

Thanks for taking time to read / respond to this thread..Mb

[Dean2]

Bank drafts can be forged but you can also verify their legitimacy before releasing the goods. Before you give him the truck, go to your bank and have your bank call his bank and verify the draft is legit BEFORE they deposit it to your account. It works better if you set this up in advance by talking to your bank so you are sure both banks are open and you have verified the other bank's phone number off the web, not the bank draft you receive.

The other option is to have him wire the funds from his bank to yours. Those are guaranteed funds.

Final choice is Cash, but again you need to ensure it isn't counterfeit.

[JRP]

Have you talked to this guy?

Call me paranoid but i don't trust people who buy vehicles sight unseen, granted i don't really have the full story. For me most time its just scammers i get off Kijiji. All i can say is err on the side of caution before you send any goods.

[Twisted Canuck]

Cash is good when dealing with someone from another country. Or gold bullion.

As said, bank drafts can be faked, and your vehicle will be long gone when your bank charges your account back for the full amount, plus an NSF fee to add salt to the wound.

The only problem with an electronic transfer is you are giving up banking info to a stranger. I never feel comfortable doing that.

[Stinky Buffalo]

Originally Posted by JRP

Have you talked to this guy?

Call me paranoid but i don't trust people who buy vehicles sight unseen, granted i don't really have the full story. For me most time its just scammers i get off Kijiji. All i can say is err on the side of caution before you send any goods.

I have to admit that this crossed my mind as well. One of the common scams is that the buyer "overpays" with phony funds and you send the difference back in valid funds... They get your vehicle and change.

[JRP]

Originally Posted by Stinky Buffalo

I have to admit that this crossed my mind as well. One of the common scams is that the buyer "overpays" with phony funds and you send the difference back in valid funds... They get your vehicle and change.

Im used to the one where they are unavailable to view it but take your word and will give you full price and get their moving company to come box it up and take it away for you free of charge.

[bobtodrick]

Our company does a lot of web sales.
One thing that always alerts us to fraud is cross border (even provincial).
I would think that there would be lot of used trucks, at likely great deals in Utah, just because of the much greater population base.
Why is he going to all the trouble of buying from Edmonton.
Unless you know the guy...or your truck is something rare I would be very leery.

[creeky]

Originally Posted by Dean2

Bank drafts can be forged but you can also verify their legitimacy before releasing the goods. Before you give him the truck, go to your bank and have your bank call his bank and verify the draft is legit BEFORE they deposit it to your account. It works better if you set this up in advance by talking to your bank so you are sure both banks are open and you have verified the other bank's phone number off the web, not the bank draft you receive.

The other option is to have him wire the funds from his bank to yours. Those are guaranteed funds.

Final choice is Cash, but again you need to ensure it isn't counterfeit.

X2 on wire transfer

[sikwhiskey]

Definitely wire transfer, doesn't matter if you give out bank account number, they can do nothing with it. Just like a cheque, bank account info is on every cheque. Bank drafts can and do get faked..... had a friend sell an escalade with bank confirmation that all was clear, 2weeks later no funds. Made the news in Calgary.

[Okotokian]

How much are we talking about? In most cases I'd say cash. I bought a boat for $25,000. Went to the local bank, got cash, put it in the guy's hand. Tell him to do that. I'm afraid I don't know the intricacies of an American getting Canadian cash. He can't bring a lot (in either currency) over the border without declaring it and all the hassle that goes with that.

[Gary K]

Originally Posted by Okotokian

How much are we talking about? In most cases I'd say cash. I bought a boat for $25,000. Went to the local bank, got cash, put it in the guy's hand. Tell him to do that. I'm afraid I don't know the intricacies of an American getting Canadian cash. He can't bring a lot (in either currency) over the border without declaring it and all the hassle that goes with that.

So that sign at the boarder, if you have over 10,000 Canadian in Monterey instruments. It INCLUDES bank drafts, cheques, cash, and all other monetary instruments (debit cards etc)

I was coming back from the USA with some cheques for our us company, our accounting is located in Canada. So figured I better declare.

Had a chat with the boarder agent at YYC After. He said thanks for declaring but it's a joke rule. No one declares what the should. As most people have access to 10k or more. But if you got 10k in your bank account your supposed to declare it crossing both ways.

They'll never hassle you for this, only cash to help eliminate drug payments. But I found it interesting.

And to the OP. Don't use PayPal if that comes up!

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[TylerThomson]

Just use an transfer through your online banking. The only details exchanged are email address or phone number. Literally takes 20 minutes at the most to go though

[Newview01]

Originally Posted by Gary K

But if you got 10k in your bank account your supposed to declare it crossing both ways.



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False.