Vintage Mustang Forums banner

1 - 10 of 10 Posts

·
Registered
Joined
·
1,103 Posts
Discussion Starter #1
I'm a novice to this: im about to buy my wheels and didnt like the idea of sending a money order for over $700 via mail, so ive seen this wire transfer option. From what i can see i just go to the bank and 'wire' the money from my account to the companies. (right?)

Question:

How on earth do you normally tie an order to the money transfer?

Any thoughts on this welcome

(also my 400th post /forums/images/icons/smile.gif)

Gary
 

·
Registered
Joined
·
102 Posts
Yes, can go to your bank and they can wire (electronically transfer) money to someone else's account. Keep in mind that with a wire transfer once you send the wire the money is gone and you have no way of getting it back it there is a problem. I would recommend using a credit card if this is a business you are dealing with.
 

·
Registered
Joined
·
1,634 Posts
hello gary,i normally go to my bank and transfer money into the company account.i would speak with someone at the place your buying wheels and explain to them you would rather do a bank transfer.failing that visa etc.regards javed
 

·
Registered
Joined
·
1,103 Posts
Discussion Starter #4
I figured money order was the most 'dangerous' payment method, seeing as how if it disappeared, well thats it!.

Credit card definitly not. Im just looking for a fairly safe, reliable way and i was told wire transfer was the best.

The worst thing is i have TWICE e-mailed 'the-company-who-i-probably-shouldnt-mention' for a total cost and they keep saying "ABOUT", so i cant get a definite figure to pay, either way!

Thanks,

Gary
 

·
Registered
Joined
·
10,587 Posts
AFAIK, there's no way to tie a invoice number or description to the wire transaction. Depending on the transfer vendor, there may be a small area to provide a reference but it would still be up to the recipient to match the transfer to your purchase.

Another option you could use is Western Union's BidPay, which sends a money order to the recipient, and you pay via CC. I recall there being a dollar limitation but their web site should spell it all out.

I routinely receive checks and MO's in the mail in the mid 3 figures (2-4K) for business and haven't had any problems in the 15 years or so I've been doing it.

You could always send a USPS MO via certified mail with return receipt...this or the BidPay option should be the same or less expensive than a wire transfer.

Good luck!
 

·
Registered
Joined
·
1,103 Posts
Discussion Starter #6
Thanks,

Well i have sent MO's over $100, but 700 is a different story. It may be the fact that i have a mistrust of big companies, but i would rather not send a money order that large 3,000 miles by post. Wire transfer is beginning to sound like not-the-best option.

I have contacted the company in question, and hopefully they can advise me how best to transact the money.

BTW, they do not deal with this Western Union thing, according to their website.

Thanks,

Gary
 

·
Premium Member
Joined
·
19,169 Posts
Wiring money is easy and painless. Contact your bank, who will then contact the bank they are going to send the money to, and find out the account number. You can get the account number from your seller. Wires can only work one way: transferring money in, not out. Your bank initiates the transaction, and they must have specific information as to the account it goes to. They get verification once the wire is processed.

I've wired money hundreds of time from one bank account to another, especially when I have moved locations or change banks. Piece of cake. The most it has ever cost me was $10, and usually zero, if it is from Credit Union to Credit Union.

I highly recommend wire transfers.
 

·
Registered
Joined
·
10,587 Posts
Gary, as you're in Ireland, I would think WU or BidPay would be a great way to do an international transaction. You could either do a straight WU wire transfer or have WU USA send the company a MO from their processing center.

Is the seller in the USA??

I've used WU and bank wire for money transfers in Eastern Europe with good success; if the recipient had a registered bank account and didn't want to go to the WU office to pick up their money, I'd wire it directly to their account.

I've also wired money to myself, when travelling in years past (before ATM's) and picked it up locally at the WU office in the country I was travelling to..

Your seller should be able to help you here...if not, I can direct you to information sources which can help. The online auction forums are replete with international transaction issues and solutions...

Let us know if we can help further......
 

·
Premium Member
Joined
·
5,293 Posts
Gary - Wiring money in the US is perfectly safe and easy if you feel you can trust the other side. The recipient will have to match your wire to your order. To help them in that, each wire has a trace number that you can give to them.

My firm is charged $10 to send wires, and we pass that cost along to customers. As the money is securely sent the same day, I think that's a pretty good deal considering money orders from the same bank can be $5 and still need to be mailed, etc..

To send money to a US bank account, you'll usually need the full name of the bank, main location, ABA routing number, account name/title, and full account number. Good luck - Dickson
 
1 - 10 of 10 Posts
Top