Money Transfer

bububassboner · Post by **bububassboner** » Sun Dec 16, 2007 2:49 am

So I'm making a large tuba purchase in a day or so and have 2 questions for the TNFJ. One, how do you pay for the horn(ie Check, bank transfer, cold hard cash ect). And two, I heard if I write a large check there is a chance that the recievers bank will report it as fraud. Is this true and if so how do I avoid that. Thanks in advance.

thedeep42 · Post by **thedeep42** » Sun Dec 16, 2007 8:43 am

your best bet is to ask the seller directly how they prefer to be paid...

1. most people like to have immediate funds and cheques don't usually cover that. i find most people typically honour cold hard cash. if you are in a rush (ie making a trip and have one day to test the thing, make your decision and pay for it) cold hard cash is about the only way unless they accept credit card or something. a bank draft is good if they can get to be bank that day.. but of course if you plan to barter, you'll have to be pretty clever with how you work that... also if you visit on a weekend or holiday it can be hard.

2. i have heard about problems with cheques but never experienced it.. banks keep a watch on any unusual activity and will regard any random massive transfer as suspicious. once i tried to pay for a large repair bill on my visa and it was denied until i called the credit card company and verified that it was me and they let it through. so... if you're not usually making large transactions, some caution is advised.

iiipopes · Post by **iiipopes** » Sun Dec 16, 2007 11:46 am

What you're probably referring to is the requirement that banks have you fill out a form for cash transfers in excess of $10,000. This doesn't apply to transactions by draft or EFT, because the point is to get a handle or paper trail on the transfer just in case it is questioned later.

I don't think a one-time tuba transfer is anything to worry about, especially since you can demonstrate the product.

Teubonium · Post by **Teubonium** » Sun Dec 16, 2007 1:00 pm

I have used cashiers check, Paypal, and a credit card. Had no problems with any of them. Credit card was best for me as I get a 1% rebate on charges.

KevinMadden · Post by **KevinMadden** » Sun Dec 16, 2007 2:37 pm

If you're planning on using a credit card and paypal make sure paypal will let you do it first. I was told I hadn't built enough credit with paypal to make a large purchase on a credit card. (even though had enough credit on the actual card!

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BavarianFanfare · Post by **BavarianFanfare** » Mon Dec 17, 2007 1:33 am

In the past, when I have purchased my horns, I bought them from the Woodwind & Brasswind. I paid for mine via Western Union Quick Collect. It is quick, safe, and easier than other means. However, it does depend on who the seller or dealer is, and what types of payment forms they accept. This means has worked for me.