Sending an $8000 wire transfer

Hey guys,

I didn't know where to ask about this, so I'm just gonna shoot my question here. Hopefully you guys know how I should go about this.

I'm sending an $8000 wire transfer to some dude in the United States for an ultrasound machine. His company is called RC Medical and I looked it up and it's got a website and looks kinda legit.

But $8000 is big money. Is there a way to protect it from fraud, in case the guy takes the money and runs? Will my bank protect me? I don't want to do this over eBay or PayPal because of their fees and all that.

How can I make this go safely and smoothly without spending too much in transaction fees?

What are my options if he is a fraud?

 

Use escrow.com

Sue him in court.

 

Well, with Wire Transfer, there is really no recourse for the buyer. Once a payment is made, it cannot be reversed for any reasons at all. So there is nothing stopping him from not delivering the product and run with your money. The banks would not be in any position to assist you when that happens.

As for Paypal, there should not be any fees to the buyer but only the seller is charged a fee. But I would not recommend using Paypal for such a transaction, it is just too unprofessional.

I supposed to can search the internet about the company and maybe contact the company directly to see if the person you are dealing with actually works for the company.

 

Get the bank acount details of the bank you are transfering to.

Does the account name match the company name, is it in the same state as the company etc.

 

escrow.com is your best bet.

 

escrow is your best option, i have had many clients disappear after taking a product.
and believe me, its not too hard to make a legitimate looking website or even having dedicated phone lines for the same.
if the company you are buying from is big/good, they will definately have a credit card option, you can take that as well. it is relatively safer than wire transfer.

 

Use escrow, ask for a credit check on the company, call BBB on the company.

Ask for reference.

There are many ways to check on a company's record or credibility. If you are not too far, visit the company in person.

 

Best way is to go to your bank and ask them to open an L/C Payment for you.

http://resources.alibaba.com/topic/...ant_details_about_L_C_s_Letter_of_Credit_.htm

hope this helps you a lot. Good Luck for your machine.

 

What is the name of the site.

 

Use Dunn and Bradstreet to do a credit check on the company.

Check the whois of the domain to see if they match.

If you were sent an email, check that the MX records match the domain.

Ask them to fax you some details. Check the fax numbers.

If its a wire transfer like Western Union, then I would certainly be hesitant. Usually with legit companies you would send an International Bank Transfer with an IBAN number, then at least you have "some" form of tracking.

Even for me $8,000 is a chunk of dough and I would be very careful.

I would never ever send money via Western Union, it does not matter who it is.

 

Hi Areebb,

How is it going to be shipped? In any case, you should definitely look in the Letter of Credit as GRI suggested. Probably a couple of hundred dollars in fees, overall, but well worth it in your situation.

Good Luck!

 

Look him up at the Better Business Bureau. Also, why must he have it sent by wire? Western Union and other wired methods reek of fraud as you have no recourse to recover funds. Also, are you really sure they are legit and from America? There are numerous websites out their like Sciencelab.com that look legit, but its really some lady selling drug precursors out of her slum house and with no laboratory or medical training - they just keep your money and never send out the item figuring you won't go to the authorities because you shouldn't be ordering those items anyway. All one has to do is look up Sciencelab.com at the BBB (bbb.org) and they will see that it is a complete scam and there are hundreds of reports and warnings against them - but their website looks legit, does it not?
As always, trust, but verify! Anyone asking for wired money and if the price is too good to be true should be avoided. Real companies will accept credit cards, PayPal, etc...

 

Wow talk about some amazing responses!

You guys really helped!

Ok this is the situation: I asked to use a letter of credit or a credit card for the transaction and this was his response (Dr. Nasreen is my mom, I'm doing the emailing on her behalf):

I looked up rcultrasound.com at the better business bureau. No listings. I did a reverse phone lookup, no listings. I did a WHOIS on the domain name and this is what I see:

This Neal guy is the one that has been talking to me through email and he's got the domain registered under a hotmail account with the address and phone number being 1234567 lol. I know some companies want to protect their privacy or whatever, but it seems fishy to me. What do you guys think?

I have a feeling I just got saved from an $8000 scam.

 

No address on their website, lol.

I don't know what these things go for but if the price is too good to be true than that is the deal breaker right there.

 

You could also try searching at http://www.secstate.wa.gov/corps/search_advanced.aspx for his business.

You should let this doctor know that it is your policy to verify businesses that you are about to wire off $8000 to. Perhaps he can offer some sort of verification that you can re-verify for yourself.

 

Lol, legit business owners accept Letter of Credit as usual just like us. If the problem in his Credit Card process transaction that's why he refuses to do so. Let him register to PayPal with there busuness name. and before sendding the money make a Phone call for verification and clarificaion. If his mom is a legit business owner obviosly he will answer the phone call if they are legit. If refuses ignore him.

 

I'd suggest a Letter of Credit...L/C..They will charge you a nominal fee for this service...and will give guarantee to the bank , in which the merchant has an account...after you receive the machine..bank will deliver the amount automatically...consult your bank manager..or L/C related person for details

 

Neal Fazal Fraud

LOL
Care to join me in some anchor text?

We all brush with such people everyday without knowing.
I actually managed to get most of one of my transactions back, so perphaps they do have a heart
http://www.surrey.police.uk/area_item.asp?area=&itemID=9050&division=4

 

A credit card like amex, visa or master card is good for these type of purchases

 

If he's legit he will not turn down your offer for a L/C. I would do the same in your position. Ask him to go for L/C if not he will get nothing from you. I bet there are other shops for that product.