Taillight Posted June 16, 2016 Share Posted June 16, 2016 I recently sold a seadoo and the person said that they would email me the money. (Canadian bank ) 1. how safe is it, can they cancel or reverse the payment? 2. how safe is paypal. can they cancel the paypal payment? or reverse the payment? or back charges? when I sell things, I always get the stupid email... I will paypal you the money and my associate will come pick it up. that screams scam to me, but how can they cxl the paypal payment? can bank drafts or certified cheques be cancelled also? Quote Link to comment Share on other sites More sharing options...
Stoney Posted June 16, 2016 Share Posted June 16, 2016 (edited) I have received & sent e-transfer money via emial, need the password as well. I do not know how they can reverse it, if you are sending one, the money comes out of your account right away once you process it online for the receiver to take. if you receive the money, it goes into your account right away....no way to reverse it, as far as I know. if I am selling something though to a stranger, not sure I would feel comfortable with this....come see the item you are buying with either cash in hand or certified money, otherwise, get lost. Bank drafts or certified are from the bank...when you request one, the bank takes your money plus the service fee and gives you one of their cheques written to the person you are giving it too.....at least that is how it has always been done for me. Edited June 16, 2016 by Stoney Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted June 16, 2016 Share Posted June 16, 2016 I use E-Transfer all the time, I have also sent money via Paypal. Don't think they can reverse it once funds have been transferred unless there is a claim. I have heard about scams where they are after shipping fees and such, never the asset in question Quote Link to comment Share on other sites More sharing options...
02sled Posted June 16, 2016 Share Posted June 16, 2016 I have used e-mail transfer quite a number of times. It has worked well for me. The bank has told me that they believe the transaction can be reversed but not easily and they have to initiate it with a lot of paperwork and possibly a police report as well I believe they said. The person I spoke to at the time had never done it and said they would have to speak with their branch manager to be sure. Quote Link to comment Share on other sites More sharing options...
Sedz Posted June 16, 2016 Share Posted June 16, 2016 e-transfers are about as safe as it gets as long as it is a legitimate one. Be sure you receive the password you will need to deposit it and make the deposit before your seadoo goes anywhere. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted June 16, 2016 Share Posted June 16, 2016 21 minutes ago, Sedz said: e-transfers are about as safe as it gets as long as it is a legitimate one. Be sure you receive the password you will need to deposit it and make the deposit before your seadoo goes anywhere. There is something like a 2 grand limit on the transfer. But if it works out then it is great. Quote Link to comment Share on other sites More sharing options...
dirtybeacher Posted June 16, 2016 Share Posted June 16, 2016 I use bank etransfer with no issues so far. These are some of the PayPal scams. 1 - they send you an email saying money has been sent but due to new security measures it will not be credited until you send the tracking info. So you send the item, email the tracking info, then check Paypal and there is NO money in your account. You call Paypal who tells you they never emailed you, there was no transaction and they NEVER ask for tracking info before crediting your account 2 - they send you money from a hacked Paypal account, you ship the item, then the real account holder discovers the theft, reports it to Paypal and the money is refunded from your account 3 - they send you a fake Paypal email saying money has been sent but you have to click on a link to verify the transaction - which leads you to a fake but real looking Paypal log-in page that you log into -- and you just got your account hacked 4 - they send you money from a real Paypal account, ask you to ship to a certain address, then file a chargeback. If you did not check with Paypal that the address they gave you was the "verified" address and you sent anywhere but the verified address, they claim they never received the item and Paypal refunds them. It doesn't matter if you have proof it was delivered to the other address along with an email from the buyer telling you to ship to that address. If you ship anywhere but the verified Paypal mailing address, you have NO protection and Paypal will always side with the buyer Quote Link to comment Share on other sites More sharing options...
Infernobuster Posted June 16, 2016 Share Posted June 16, 2016 I used it to sell my vette to a guy out of province. I was leary at first but found out that there is a 10 thousand dollar cap per day. He sent payment over a few days, and told him id hold onto the car to ensure it all clears and such. 5 days later told him he could get it. It takes trust on both parts .. Quote Link to comment Share on other sites More sharing options...
stealth bomber Posted June 19, 2016 Share Posted June 19, 2016 I won't take a certified cheque for a valuable item, because they can be reversed. A guy I worked with was into selling and transporting horses as a side gig. He sold and delivered one horse, lady was happy with it and paid him with a certified cheque. By Monday when he went to cash it, it was no good as she had canceled it, claimed the horse was not as many hands tall as she was led to believe, he had to travel a long distance to recover the horse. Another guy sold a Camaro for 10 grand. Same thing, by Monday the cerified cheque is canceled. Buyer claims the motor in the car is no good. Seller smells bullshit and says return the car then, buyer says no, he still wants the car, just not going to pay 10g, he will pay 7g. Seller contacts a lawyer and is told he's pretty much fucked, take the $7,000 while he has the chance. Fucking scammers. Quote Link to comment Share on other sites More sharing options...
StevieWonder Posted June 19, 2016 Share Posted June 19, 2016 Well certified cheques can only be withdrawn if there is fraud , the bank will need more than a sob story from someone with buyers remorse to pull back a cert cheque . That is the whole point of a cert cheque or bank draft . So , I would question this . I've taken and given cert cheques , never had a problem . Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted June 19, 2016 Share Posted June 19, 2016 18 hours ago, StevieWonder said: Well certified cheques can only be withdrawn if there is fraud , the bank will need more than a sob story from someone with buyers remorse to pull back a cert cheque . That is the whole point of a cert cheque or bank draft . So , I would question this . I've taken and given cert cheques , never had a problem . Have to agree, no way is a bank going to reverse a cert check cause the item isn't as expected. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted June 20, 2016 Share Posted June 20, 2016 That makes no sense. Couldn't have been a "certified" cheque. That's the entire point of certifying a cheque, it cannot be cancelled or withdrawn. Quote Link to comment Share on other sites More sharing options...
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