Most secure way to send money?

[DHW]

Hey guys,

Is there a method of sending money where you can dispute the transaction if you don’t get the item or it is damaged aside from PayPal? I’m about to send a guy a shit ton of money for a set of wheels for my 02 Corvette, but I want to use a method of paying him comes with more than just a hope and a prayer that the wheels are what he says. He is a well known member of the Corvette forum, it would just make me feel better if I knew there was some kind of protection for me.

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[Pinion]

You're at the mercy of his reputation. I'd try to meet them half way. Otherwise, no deal.

 

[DHW]

You're at the mercy of his reputation. I'd try to meet them half way. Otherwise, no deal.

That’s the problem. He’s in Seattle, I’m in Atlanta, and the wheels are impossible to find.

 

[jludave]

Is there a method of sending money where you can dispute the transaction if you don’t get the item or it is damaged aside from PayPal?

Check out the terms and conditions for Venmo or Zelle.

 

[GATORB8]

Check out the terms and conditions for Venmo or Zelle.

https://venmo.com/purchaseprotection/

And, of course, use a credit card and you open up the charge back option.

 

[ArcadeTracks]

Make sure you do not use the friends option on any of them. It's a business transaction. If there is an extra cost, figure it into the deal. You'll get more protection. Screen shot everything. (Product listing, messages, etc.) And when you pay, include notes -- "For wheels in excellent condition" or whatever. Definitely use a credit card if you can, for an extra layer of protection.
You might be able to do some sort of escrow service, but I've never dealt with those beyond real estate.

 

[Chocolate Thunder]

Make sure you do not use the friends option on any of them. It's a business transaction. If there is an extra cost, figure it into the deal. You'll get more protection. Screen shot everything. (Product listing, messages, etc.) And when you pay, include notes -- "For wheels in excellent condition" or whatever. Definitely use a credit card if you can, for an extra layer of protection.
You might be able to do some sort of escrow service, but I've never dealt with those beyond real estate.

This. Never send any more money than you’re willing to lose as friend/family. Pay the fee to send as a goods/services transaction and document everything. Pay with credit card, not debit card or balance.

 

[grimmjeeper]

You can google escrow services.

You put money in to the account. Seller gets the go ahead and ships the product. When they arrive you release the funds and the seller is paid. If there is a problem you can back out and get the money back.

 

[dragoneggs]

You can google escrow services.

You put money in to the account. Seller gets the go ahead and ships the product. When they arrive you release the funds and the seller is paid. If there is a problem you can back out and get the money back.

I was going to suggest an Escrow service as well. Blind vehicle purchases have been done this way. I don’t know what kind of dollars the OP is dealing with here so it might not rise to the level of Escrow but worth looking into.

 

[DHW]

Thanks everybody, the guy agreed to accept PayPal so I’m good.

 

[Mx5red]

I read an article blasting Zelle and related apps, that were established by the big banking companies. The point was that they operate under different laws, which lets the banks skirt hundreds of millions in refunds for this sort of thing compared to credit cards, so they were starting to encourage people to use them instead.

Venmo as was mentioned has the business option, I don’t believe it fell under that umbrella.
I have not tried Zelle etc so can’t comment on them personally, but reading that made me much more cautious about all this online stuff.

 

[Mx5red]

https://arstechnica.com/tech-policy...the-rise-and-many-victims-are-denied-refunds/

 

[DHW]

I read an article blasting Zelle and related apps, that were established by the big banking companies. The point was that they operate under different laws, which lets the banks skirt hundreds of millions in refunds for this sort of thing compared to credit cards, so they were starting to encourage people to use them instead.

Venmo as was mentioned has the business option, I don’t believe it fell under that umbrella.
I have not tried Zelle etc so can’t comment on them personally, but reading that made me much more cautious about all this online stuff.

Other people recommended Zelle but a quick google search showed Zelle offers no buyer protection.

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