What's the best way to SEND a large sum of money to India that offers some protection

Discussion in 'Payment Processing' started by Diego79, Mar 3, 2007.

  1. #1
    Hey Guys,

    I'm considering making a very large purchase of sites, content, programming, etc from a company in India. The payment is being required up front for the project and will be delivered over a period of a couple month.

    I know that if I pay with Paypal since this is not a tangible item I am not really protected. This is thru an existing and established DP member but still if it's going to be for $xxxx I feel I need to have some security.

    If I use escrow.com how hard is it for the person in India to get the money?

    What do you guys recommend?
     
    Diego79, Mar 3, 2007 IP
  2. procrastinator

    procrastinator Peon

    Messages:
    1,718
    Likes Received:
    56
    Best Answers:
    0
    Trophy Points:
    0
    #2
    Why not get it done via bank ? Its pretty safe & legal.
    I am getting some money via bank transfer , i just needed to send across some route # details to the party in USA.
     
    procrastinator, Mar 3, 2007 IP
  3. eddy2099

    eddy2099 Peon

    Messages:
    8,028
    Likes Received:
    568
    Best Answers:
    0
    Trophy Points:
    0
    #3
    Wire transfer is secured but then there is no guarantee that the other party will actually deliver the web design, it just guarantees they get their money.

    I guess in this, you probably just need to trust the other party to make good the transaction. I guess doing part payment would reduce your exposure.
     
    eddy2099, Mar 3, 2007 IP
  4. arvind_srivastava

    arvind_srivastava Well-Known Member

    Messages:
    1,229
    Likes Received:
    153
    Best Answers:
    0
    Trophy Points:
    130
    #4
    Better to pay some advance and paythe rest in trances as the project continues.

    That way you are assured that the work will be completed within the timeframe and also the Indian counterpart will get an advance and can start work.

    I hope this helps.


    Al
     
    arvind_srivastava, Mar 3, 2007 IP
  5. mixke

    mixke Prominent Member

    Messages:
    5,917
    Likes Received:
    590
    Best Answers:
    0
    Trophy Points:
    310
    #5
    I believe he is actually looking to get some security/assurance for his project which should be completed once he makes the payment .

    Maybe both of you can sort out something like 60% upfront and rest of money after looking the progress of the project .
     
    mixke, Mar 3, 2007 IP
  6. dailyearner

    dailyearner Banned

    Messages:
    2,227
    Likes Received:
    11
    Best Answers:
    0
    Trophy Points:
    0
    #6
    eg is the best
     
    dailyearner, Mar 4, 2007 IP
  7. Diego79

    Diego79 Well-Known Member

    Messages:
    310
    Likes Received:
    12
    Best Answers:
    0
    Trophy Points:
    138
    #7
    Yeah, I agree with the above.

    Dealing with someone you can trust, hopefully good itrader, references, etc
    and then doing percentages based on completion of work.

    Anyone in India recieve money thru escrow.com?
     
    Diego79, Mar 4, 2007 IP
  8. mjesales

    mjesales Peon

    Messages:
    326
    Likes Received:
    16
    Best Answers:
    0
    Trophy Points:
    0
    #8
    I would normally suggest a wire transfer - quick legal and easy.

    if your worried about not getting what your paying for - why not use a credit card - that allows you charge back protection.

    otherwise pay half now and half on satisfactory delivery - and get it all in writing.
     
    mjesales, Mar 6, 2007 IP
  9. Outstrip

    Outstrip Peon

    Messages:
    182
    Likes Received:
    5
    Best Answers:
    0
    Trophy Points:
    0
    #9
    Wester Union is the best solution for you. That will help you to copy the passport ID and you can easily get the guy back if he scams.
     
    Outstrip, Mar 6, 2007 IP
  10. Kalyse

    Kalyse Peon

    Messages:
    1,221
    Likes Received:
    24
    Best Answers:
    0
    Trophy Points:
    0
    #10
    How can he get the money back with WU?

    He wont have any gaurentee.
     
    Kalyse, Mar 6, 2007 IP
  11. ablaye

    ablaye Well-Known Member

    Messages:
    4,024
    Likes Received:
    97
    Best Answers:
    0
    Trophy Points:
    150
    #11
    I don't know what to tell you. It's a big risk that you are taking. If you had met this guy at a freelance website, you could have used their escrow services. Here, you are out of luck.
     
    ablaye, Mar 6, 2007 IP
  12. jimkarter

    jimkarter Notable Member

    Messages:
    5,168
    Likes Received:
    347
    Best Answers:
    0
    Trophy Points:
    235
    #12
    Its not at all hard, it takes around 7 to 8 days to receive the money thru check. I have used escrow many times for selling websites and get money in India from escrow without any problem in 7 to 8 days after it is released from escrow.

    So my suggestion would to go only thru escrow if you want yourself to be safe (specially if it is your first transaction with the guy).
     
    jimkarter, Mar 6, 2007 IP
  13. dnk

    dnk Well-Known Member

    Messages:
    1,576
    Likes Received:
    23
    Best Answers:
    0
    Trophy Points:
    143
    #13
    Check if banks offer a service similar to L C
     
    dnk, Mar 7, 2007 IP
  14. chrisranjana.com

    chrisranjana.com Active Member

    Messages:
    132
    Likes Received:
    4
    Best Answers:
    0
    Trophy Points:
    58
    #14
    1. Check the indian company's references, Hopefully they should have some USA references
    2. Talk with them once or twice so that you get hold of their phone number and hence their postal address
    3. Nowadays Many legal firms especially indian owned firms in USA have their branches in India I know quite a few in Chennai (the city I live in) and even though the justice system in India is not as fast as in USA still justice is served. so you can enforce any breach of contract even if the other party is in India.
    4. Paying 50% advance is a good thing rather than paying in % and will make the company put in more effort in your project since they can rest assured that they are going to do the whole project.
     
    chrisranjana.com, Mar 8, 2007 IP
  15. grifter09

    grifter09 Guest

    Messages:
    94
    Likes Received:
    0
    Best Answers:
    0
    Trophy Points:
    0
    #15
    you can use ikobo or xoom.
     
    grifter09, Mar 8, 2007 IP
  16. saadahmed007

    saadahmed007 Admínistratör

    Messages:
    5,272
    Likes Received:
    869
    Best Answers:
    0
    Trophy Points:
    380
    #16
    escrow is best and safe option imo..
    Saad
     
    saadahmed007, Mar 9, 2007 IP
  17. w3bmaster

    w3bmaster Notable Member

    Messages:
    17,594
    Likes Received:
    416
    Best Answers:
    1
    Trophy Points:
    240
    #17
    Use and escrow or freelance site ....
     
    w3bmaster, Mar 9, 2007 IP