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    1. KevinTW is offline

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      #1

      Are wire transfers safe as a form of payment?

      Are wire transfers safe as a form of payment? Lemme know what you think. Anyone had any bad experiences?
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    2. Christopher05 is offline

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      #2
      In my opinion wire transfer is one of the safest methods of payment. I never had any problems. This payment method is used especially in the European Union. The great thing about wire transfer is that once you receive the money they can’t be reversed or charged-back. There are some tips you need to keep in mind when you are using wire transfer:

      1. Create a special account for receiving payments. I always transfer the money to my regular account as soon as I receive a payment. This way I will not risk losing my money if anyone knows my number.

      2. Call your bank and ask what information you need to give to the buyer. Most banks will require the swift code, routing number, checking account number and name. It’s not necessary for you to provide your address.

      3. Ask the bank about the fees for international bank transfers. Most banks are charging between $12 and $18. If you do a good research you can even find a bank which will not charge any fees for wire transfers.
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    3. KevinTW is offline

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      #3
      Is there a way to avoid any extra charges? I don't wanna have any deductions from the amount sent by the buyer.

    4. Christopher05 is offline

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      #4
      In order to avoid any extra charges you need to ask the buyer to specify that he is paying the charges. The buyer should make the following mention in his payment: ‘’All charges ours’’. Another tip to avoid losing money is to ask the buyer to send the money in US dollars. This way you will not have to pay any fees for currency converter.

    5. MTP85 is offline

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      #5
      My bank has no swift code. Can I still use wire transfer as a payment method?

    6. Christopher05 is offline

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      In case your bank can’t provide a swift code you can just use the routing number.

    7. Tweet33 is offline

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      #7
      I’m still not very sure that wire transfer is safe to use. Can anyone tell me when the wire transfers are reversible?

    8. Christopher05 is offline

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      #8
      Wire transfers can be reversible only in the following situations:

      • In case of a bank error. This means that the money weren’t supposed to be sent to your account.

      • In case of terrorism activities

      • When the sender and the receiver agree to reverse the transfer

      I would recommend wire transfer to anyone. These are the only situations when you can have your money reversed. The sender can’t send money anonymously. This is why I consider wire transfer as one of the safest payment methods.

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