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 > How safe is etransfer - selling big items?

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Bird Freak

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Posted: 08/25/22 01:03pm Link  |  Quote  |  Print  |  Notify Moderator

If he is coming to pick it up have him bring cash. No problem.


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BobsYourUncle

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Posted: 08/25/22 01:41pm Link  |  Quote  |  Print  |  Notify Moderator

As mentioned, I already have a sizeable deposit by etransfer


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SoonDockin

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Posted: 08/25/22 01:57pm Link  |  Quote  |  Print  |  Notify Moderator

If you do opt to have the transaction in front of the police station, do not tell them about any cash trading hands. Never know if they will confiscate the funds. Personally I prefer to do it in a bank or right on the steps of my bank.


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time2roll

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Posted: 08/25/22 03:07pm Link  |  Quote  |  Print  |  Notify Moderator

BobsYourUncle wrote:

As mentioned, I already have a sizeable deposit by etransfer
Yes. Low risk for the recipient.

Sending money is a bigger issue and that is on the buyer.


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Posted: 08/25/22 03:47pm Link  |  Quote  |  Print  |  Notify Moderator

In the case of something not very expensive, like an engine, I'm not sure why he couldn't pay the balance in loonies. I mean, what is it, a couple grand, tops?

But good luck getting a real world review of online funds transfers from a group of senior citizens....


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free radical

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Posted: 08/25/22 08:28pm Link  |  Quote  |  Print  |  Notify Moderator

SoonDockin wrote:

If you do opt to have the transaction in front of the police station, do not tell them about any cash trading hands. Never know if they will confiscate the funds. Personally I prefer to do it in a bank or right on the steps of my bank.

Hes in Canada ,police here dont steal honest people money.

free radical

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Posted: 08/25/22 08:33pm Link  |  Quote  |  Print  |  Notify Moderator

BobsYourUncle wrote:

With all the scams, swindlers etc out there, just thought I'd throw this out for anyone who may know more than I do:

For over 20 years I have had a totally rebuilt 348 Tri-Power for a 58 Impala. I always wanted to find a 58 Chev convertible for it, but never did. I just sold the engine on Kijiji yesterday. The buyer lives in the next province from me, so I have not met him. Everything was done by email.

He sent me a sizable deposit by etransfer to hold it until he can drive out and pick the engine up, at which time he will etransfer the balance. Ok, sounds good.

The question I am pondering is: How safe is etransfer? Funds are in my account. Can these be scammed? Can it be reversed somehow? I am leery of any transaction with a stranger for large amounts of money. Everything seems fine, but I believe in being very careful with Kijiji transactions.

Anyone have real life experience with this?
(Not looking for wild guesses - I can do those myself)

Thanks.

Why not go thru the bank? Much safer imo.

If you know his name maybe you could find out all about him and where he lives etc.
Google has info on everyone.

Jack_Diane_Freedom

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Posted: 08/25/22 08:38pm Link  |  Quote  |  Print  |  Notify Moderator

I have used etransfers for years for big items and small items. I never use cash or cheque. Cheque for instance is the most insecure method you can use. It shows your name, address, bank account number, branch and signature. All easy to copy. Set up your etransfers for direct deposit and it goes immediately into your bank account and is encrypted very well. The Canadian experience is much different than the US experience with major differences in the banking system. If you have the purchaser make the final payment in front of you using cell phone or computer it will be in your account the second he presses send and then you can release the engine. No need for going to police station or anything like that.

BobsYourUncle

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Posted: 08/26/22 06:18am Link  |  Quote  |  Print  |  Notify Moderator

Thanks for the input everyone.

I've never had an issue with etransfer, and I use it all the time. Fast and easy.
I'm not sure when he is going to be able to make the trip to pick the engine up. Its several hundred miles from here.

The arranged plan was to do the second half payment when he gets here.

From his point of view etransfer gives him a record of the payment too.

Johnny G1

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Posted: 08/26/22 11:47am Link  |  Quote  |  Print  |  Notify Moderator

No problem here with the latest etransfer and it was done in minutes, as the money was in the account in less than 10 mins. quite a big one too in the thousands.


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