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The buyer can have his bank transfer the cash directly to your bank. Contact your bank for the details. You'll have to provide the buyer with your bank's routing number AND your account number. Contact YOUR bank to find out how to prevent funds from going the OTHER direction!!

I've used this method before to sell an instrument to an overseas buyer. It worked well.

Good luck,

The buyer can have his bank transfer the cash directly to your bank. Contact your bank for the details. You'll have to provide the buyer with your bank's routing number AND your account number. Contact YOUR bank to find out how to prevent funds from going the OTHER direction!!

I've used this method before to sell an instrument to an overseas buyer. It worked well.

Good luck,

Assuming you are both in the US, give the buyer your bank account and routing numbers. Then the buyer can wire transfer the money directly to your account. The buyer may have to pay his own bank a $10-20 fee.

Working at a bank, I would have to suggest the cashier's check or money order method. Both are fairly inexpensive (where I work, a cashier's check is only $5, and that's probably on the high side.), and are a safe, guaranteed way of transferring money; they've already been paid for. The money orders are cheaper, but are only valid up to $1,000 (which means for a transaction over $7,000, you save money with the check.) I would not suggest wiring the money...any situation that requires you to give a complete stranger your account number...I just wouldn't feel comfortable with it.

Hope that helps.

I've used cashier's checks on several occasions and they work very well. In addition, since I have an "senior citizen's" account package at my bank, they're free for me.

Whatever instrument you use, however, be sure you send it via Fedex, Airborne or one of the other express services that certifies delivery. Reclaiming a lost check often involves a waiting period (30 days or more) and some paperwork.

Service fees for international wire transfer are not regulated and can vary wildly involving substantial charges on both sides of the transaction, so check ahead of time.

Before accepting a certified, or cashier's, or a teller's (issued by credit unions) check, please understand the risk that these checks may have stop payment orders placed, leaving the person who accepted such a check feeling a drastic financial pinch when the check bounces. (Please see Uniform Commercial Code section 4-403(2) in most states.)

Also, when selling, beware of the scam where the buyer sends a cashier's or other check for more than purchase price (for any number of very sad and compelling reasons), asking the seller to send "change" by a postal money order or such.

At any rate, definitely telephone the buyer, and if you have the slightest doubt, ask the buyer to fax copies of IDs.

...and beware of forged cashier's checks and money orders. Usually, they're the product of the crook buying a lower-value document and then altering it. If it is ultimately rejected by the issuer, you're the one left holding the bag. So be careful.

I believe PayPal transfers are free if you first move the money from your checking or savings (not credit card) to your PayPal account (takes almost a week) then separately transfer it to the other person's PayPal account

A stop payment shouldn't be a problem...at the bank where I work, wemake the customer sign something, letting them know that we will NOT issue a stop payment on any cashier's checks issued.

DP wrote:

Dean E wrote:Before accepting a certified, or cashier's, or a teller's (issued by credit unions) check, please understand the risk that these checks may have stop payment orders placed, leaving the person who accepted such a check feeling a drastic financial pinch when the check bounces. (Please see Uniform Commercial Code section 4-403(2) in most states.)

Risk?? What could be said is "beware of accepting a cashiers check and not taking it to your bank anytime soon." . . .

You are exactly right.

However, a scammer would not be using a legitimate bank, but rather would be sending either a stolen or forged cashier's check blank, which often has been run through a fancy, multi-color-ink printer to make it look authentic. The goal is to get the seller's merchandise shipped before the seller becomes suspicious.

Also, within the banking industry, certain small banks are known for their occasional inability to honor their own cashier's checks.

It would be wise and businesslike to make sure a cashier's check clears before delivering the merchandise.

Why not just BARTER when buying tubas and sousaphones? How can anyone counterfeit or stop payment on a cow?

Counterfeit or stop payment, no. But I'd be worried about the revolution.

Doug@GT wrote:

Why not just BARTER when buying tubas and sousaphones? How can anyone counterfeit or stop payment on a cow?

Counterfeit or stop payment, no. But I'd be worried about the revolution.

Oooooh....you're SO right. If the REVOLUTION happens, he's going to NEED that tuba so he can convert it to a CANNON.

MA