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03-17-2015, 12:38 PM   #1
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Is it a scam?

So I sold my Canon 70D to a guy (not on the forum) who did a wire transfer to my account (Wells Fargo to Chase). I accepted the wire transfer with an email confirmation yesterday (with clearxchange) and it'll appear in my account within a couple if days. Is this a scam or no? Can he cancel the wire transfer at anytime or complain about it and get his money back? I haven't sent the package yet, but I will later on when things are more clear.

03-17-2015, 12:43 PM   #2
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Wire transfers may take time to clear. Just wait, and you also can call the bank to consult how it works.
03-17-2015, 12:47 PM - 1 Like   #3
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Just make sure that money is yours (check with the bank) before you ship anything.
03-17-2015, 01:30 PM   #4
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Depending on what promises you made on speed of delivery, can you simply wait until the money is in your account before sending the package?

03-17-2015, 01:55 PM   #5
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Once the receiving bank (in this case, your bank) accepts a wire transfer, it cannot be reversed.

But are you *sure* it's an actual wire transfer? Because a quick google of ClearXchange makes it sound like an ACH, which is not the same thing, despite looking very similar to someone outside the bank.

ACH is more like an electronic check. It's a more common method for moving money around between banks. Your employer probably pays via ACH. Paypal uses ACH to transfer funds from your linked checking account. If you use online bill payment, it probably uses ACH.

ACH *can* be reversed for a small number of reasons.
03-17-2015, 02:04 PM   #6
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I've used clearXchange and it took 3 or 4 days to clear, if I'm not mistaken. Not speedy.
03-17-2015, 02:25 PM   #7
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QuoteOriginally posted by narual Quote
Once the receiving bank (in this case, your bank) accepts a wire transfer, it cannot be reversed.

But are you *sure* it's an actual wire transfer? Because a quick google of ClearXchange makes it sound like an ACH, which is not the same thing, despite looking very similar to someone outside the bank.

ACH is more like an electronic check. It's a more common method for moving money around between banks. Your employer probably pays via ACH. Paypal uses ACH to transfer funds from your linked checking account. If you use online bill payment, it probably uses ACH.

ACH *can* be reversed for a small number of reasons.
It didn't seem like an online check :3 as long as I know it's safe and I get my money
03-17-2015, 02:26 PM   #8
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QuoteOriginally posted by Hmong_Xiong Quote
So I sold my Canon 70D to a guy (not on the forum) who did a wire transfer to my account (Wells Fargo to Chase). I accepted the wire transfer with an email confirmation yesterday (with clearxchange) and it'll appear in my account within a couple if days. Is this a scam or no? Can he cancel the wire transfer at anytime or complain about it and get his money back? I haven't sent the package yet, but I will later on when things are more clear.
Just be sure to wait until you see the money before shipping anything. I'd call your bank to make sure, too.


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03-17-2015, 03:28 PM   #9
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QuoteOriginally posted by sergysergy Quote
Just make sure that money is yours (check with the bank) before you ship anything.
What he said. In the moment that the money are on your bank account, you can ship without problems. Never ship after seeing a receipt.
03-17-2015, 03:45 PM   #10
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Remember too that wire transfers bank to bank usually carry a bank charge. Depending on amount and banks involved, it may be a fixed amount or a percentage. Also it may be charged by either or both banks. So make sure the amount credited to your account is the amount agreed and not such amount minus the bank charge or commission.
03-18-2015, 05:49 AM   #11
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If your purchaser was "Otis Squirrel" you had better hold on to that camera, he knows every way on earth to scam a buyer. Ask any buyer on E-Bay that paid $250. for a truckload of premium roasted peanuts...and goat a toy truck with 4 peanuts in it.

Regards!
03-18-2015, 06:35 AM   #12
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Don't send it until you see it clear. Let the buyer know that you see the notification, and will ship it once it clears. Better safe than sorry
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