Payment method

FIREMAN said:
So what is the deal with anything over 10 Grand? 
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The banks were tasked with letting the Gov know about any odd deposits. It's money laundering the Government is after, not a dude selling a sandrail. I literally pulled out $10k cash today. No form, no questions. Just counted and handed me the cash.

 
Bldrinker said:
Cash or cashiers check. 
 

just deposit it less than 10k at a time. 
 

Counting out large sums really sucks though. I had a buyer come up short $1000 and we had to count numerous times. 
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27k for me, first 5 bundles were short 100.00

i handed it back and said I don't have time for these games, get it right and call me.

He pulled to the end of the parking lot and I drove off. He had left the bank in Arkansas and drove in like 6 hours and the bank teller shorted him. He didn't count it because the bank said they ran it thru the machine. In a panic he ran to an atm and used 2 cards to get the 500.00 and had the bank call me to apologize they found the  missing money.

 
zilla68 said:
27k for me, first 5 bundles were short 100.00

i handed it back and said I don't have time for these games, get it right and call me.

He pulled to the end of the parking lot and I drove off. He had left the bank in Arkansas and drove in like 6 hours and the bank teller shorted him. He didn't count it because the bank said they ran it thru the machine. In a panic he ran to an atm and used 2 cards to get the 500.00 and had the bank call me to apologize they found the  missing money.
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It was 42k for me. When I counted it $1000 short. Buyer recounted it was correct. My wife counted it $1000 short. His wife counted it $1000 short.  
it was banded from the bank so he said it should be right. He went back to his AMG Mercedes and brought back another wad and counted off the $1000. 
 

It was stressful. 
 

probably counted on my trusting the bands from the bank. 

 
Pennywise said:
You can stop payment on a cashiers check! 
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This 

The only way I would take cashiers check is at my bank in person or as stated earlier if you trust them. I did take a cashiers check once on a sandcar sale for the last 30 percent he, paid the rest in cash and it was a good transaction. I sold a car and went to the buyers bank in our town and he wrote me a check on a business account and had the bank cash it for me then about 2 weeks later I get a call from the bank wanting my tax id info I told them no way was I giving out that info, they were trying to cover their butts with the IRS

 
I usually have sold stuff for cash and have done transactions up to $35k. I never thought of the phony money aspect, but luckily did not have that happen.

I sold a toyhauler for $40k and we went to his bank in the town I lived in and they gave me a cashiers check drafted from his account. I would never take one any other way because they can be counterfeited. 

I also sold a F350 to a guy who owned a used car dealership from Eugene (about 50 miles away). He paid with a business check.  I researched the guy and he was legit and been in business for a long time, his son was a cop in Eugene, and I talked to his bank with him standing next to me. It was for $62k and I was nervous, but it went through with no issues. 

Funniest one was when I sold a RZR to a guy from Humbolt CA and was a weed grower. He paid me $12.5k all in $5's and $20's. It took forever to count. My bank manager who I knew walked up while I was depositing it and asked if she should test it for illegal substances. I said I wouldn't recommend it, and she laughed and walked away. (it reeked of weed)

 
LegitDuner said:
I don't trust anything other than cash nowadays, and I even have a counterfeit money pen. If they can get a cashier's check, they can get cash. Meet at your bank so you can deposit the money ASAP so they don't come back and get you. 

I know it sounds a little paranoid but people are getting seriously desperate these days.
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FYI, if you stash old 100s like I have in a safe after a sale.. (not sure what year they are), but the damn pen didn't work. Gave my kid one of 'em cause I'm done with having cash (bank or safe).. inflation.. I want assets (different thread)... anyhow, she got refused by the 'pen' at Starbucks... Also, if you are BUYING and it's a large sum, be careful where you meet a stranger. Good way to get robbed/killed these days.

abc

PS. Oh... and I always take out my DL and ask the buyer/seller to take a picture, then I ask the same. Real good idea for safety and  making sure the pink slips match, etc. I must have 2 dozen photo IDs in my phone. Anyone who won't let you do it has something to hide (likely).

PPS. My DL is current until my 51st bday next year, photo is from 07…

00E927B0-0673-4CDD-9EE8-B5E9AB31F3E1.jpeg

 
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DTA said:
Sold a race trailer to a weed grower. 

Easiest deal ever. He gave me the cash, I think around 18k at the time, then said I'll be back in a few weeks to pick it up.

I was super confused. I asked you're going to pay for the whole thing, leave without the trailer and without the pink?

He said yeah, see you in a couple weeks, and we shook hands.

Sometime later he called to pick it up and that was that. 

Otherwise cash is king, I bought a class 1 car in 2005 for $75k cash. I was about 20 years old. Had it all in a Manila envelope along with a pistol. Smooth deal. 

Sales are all wires, bank transfers or cash money.
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Bought the SCU for physical cash in '09. The seller and I were counting for a while. I'm sure someone was packing.. LOL

 
Barter is my preferred method of transaction. I traded my 1972 Prickfor in a three way deal for way more than it was worth. Adding a 1990 Ebola Vomit Hat, a life sized puppet collection of the band Digital Underground and a prized purebred Pug to my collection in exchange for an item I no longer used was way better than walking away with a grip of cash.

 
L.R.S. said:
The banks were tasked with letting the Gov know about any odd deposits. It's money laundering the Government is after, not a dude selling a sandrail. I literally pulled out $10k cash today. No form, no questions. Just counted and handed me the cash.
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10K is fine, it is anything over 10K.

10,000.01 and you would be filling out the Form 8300.

 
ANGRYBUTTCRACK said:
FYI, if you stash old 100s like I have in a safe after a sale.. (not sure what year they are), but the damn pen didn't work. Gave my kid one of 'em cause I'm done with having cash (bank or safe).. inflation.. I want assets (different thread)... anyhow, she got refused by the 'pen' at Starbucks... Also, if you are BUYING and it's a large sum, be careful where you meet a stranger. Good way to get robbed/killed these days.

abc

PS. Oh... and I always take out my DL and ask the buyer/seller to take a picture, then I ask the same. Real good idea for safety and  making sure the pink slips match, etc. I must have 2 dozen photo IDs in my phone. Anyone who won't let you do it has something to hide (likely).

PPS. My DL is current until my 51st bday next year, photo is from 07…

View attachment 39714
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I bet you also expect the name on the drivers license to match the name on the title. :)  That’s one of the questions I now have to ask over the phone before driving a couple hours to look at / buy vehicles. 

 
SLIM said:
https://www.cnet.com/personal-finance/banking/zelle-scams-protect-yourself-and-stop-thieves-in-their-tracks/
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Thanks for the link to that article.

Unfortunately, it's misleading. All of the scams they listed were all social engineering scams, none of them were specific to Zelle. They didn't point out a single example of any sort of security flaw in Zelle or a unique way to scam someone using Zelle. The person giving the money has to authorize the transaction. There is no way to fake it or get around it. If a person is dumb enough to fall for the scam, the payment method doesn't really matter, whether it's refillable visa cards, or money orders, or Zelle. 

I've sold items in person, accepted Zelle as payment and everything went well. No possibility of accepting counterfeit cash, it can't be faked like a cashier's check, it can't be stopped like a personal check. For purchases of $2,000 or less, that system works great. If a person gets scammed, it's because the item is not as advertised or something similar.

 
I always handle it at my bank.  Seller hands the money to my bank's teller and they count/deposit it.  

DTA said:
Sold a race trailer to a weed grower. 

Easiest deal ever. He gave me the cash, I think around 18k at the time, then said I'll be back in a few weeks to pick it up.

I was super confused. I asked you're going to pay for the whole thing, leave without the trailer and without the pink?

He said yeah, see you in a couple weeks, and we shook hands.

Sometime later he called to pick it up and that was that. 

Otherwise cash is king, I bought a class 1 car in 2005 for $75k cash. I was at least 21 years old. Had it all in a Manila envelope along with a pistol. Smooth deal. 

Sales are all wires, bank transfers or cash money.
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FIFY, since you're saying you had a pistol and all. :biggrin:

 
Wire transfer is best but if you take a check just make sure it clears before to give them the item and sign the title. DON~~~

 
Wire transfers.

I've used Zelle but it has limits.  

I don't take checks or cashier checks anymore.  Too easy to forge them.

I will sometimes take cash now but it's hard to get large sums of cash and once you have it...well...anything over $600 gets reported...#FJB.

 
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