\Why You Don't Pay Cash For Cars From Strangers

[Billohio]

I asked my bank about wire transfers and they acted like the money could be with drawn back to the sending bank. They were not 100% sure. I thought i should get a separate account to have the deposit made then put in my account.
Anyone have any ideas?

[whitetop]

I just spoke to my friend about this earlier. He checked with his bank before the transfer from Japan..He said the bank sending the money honors the transaction and once transferred it cannot be pulled back.

Maybe different levels of wire transfers..i.e. if a guy gives a bank a check from another bank (A) to bank (B)and (B) transfer the money to (C) and then the check bounces B pull it back form (C)

..but my friend said his bank told him as soon as it was in his account it was as "good as gold" per his bankers terminology.

[427TJ]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Billohio</div><div class="ubbcode-body">I asked my bank about wire transfers and they acted like the money could be with drawn back to the sending bank. They were not 100% sure. I thought i should get a separate account to have the deposit made then put in my account.
Anyone have any ideas? </div></div>

I set up a separate account, tell the buyer the account number and any other routing info and wait for the money to move. Once it's all there the car is free to go. As soon as the money's in my account I move it out of that account into another account. My bank has never heard of someone &quot;taking the money back&quot; after it's been wired.