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Every day I want to share something important to save you from the hassle of a bad buying and selling experience. Let’s cover 3 common online scams that happen on a daily basis.
Whether you’re a buyer or seller you can get scammed and end up out of pocket. Here are a few scams to look out for.
If someone offers to pay you by cheque, especially a cheque that’s greater than the value of what you’re selling, walk away. This is a common scam and the cheque will be a fake, convincing enough for you to see the balance in your account for long enough to wire them the ‘remainder’, but when it bounces you’ll have lost the money. Don’t accept payment like this. Go to the bank with the buyer and ensure the funds are available. If the buyer asks you if a cheque works. Just ask them to bring cash. You as the seller are in control of the sale.
Money transfers (buyers)
If someone that you don’t know insists on a wired money transfer, walk away. Don’t do it. People do this sometimes and from experience, it doesn’t go well. Money transfers are effectively a cash transaction; there’s no comeback if the goods you’ve paid for never arrive. Only pay through a reputable payment provider with an actionable dispute process. I see many of these scams every day, from carpet cleaning services as well as other commercial services. What they do is they appear to offer a service of good value and then when the buyer contacts them or asks them for more information. They ask for money upfront. I have seen nothing but negative situations arise from this.
If you’re selling for cash then small-denomination notes are less likely to be counterfeited because the counterfeiters concentrate on the big bills for obvious reasons. Getting paid in used tenners might feel a bit Only Fools and Horses but it’s reasonably safe. If you want a bit of extra security, you can arrange to meet them at their bank and watch them get the money over the counter. That way you can be sure it’s legit.
Here at eMarketsafe, you will be dealing with the right buyers and sellers. People who respect one another to the point where these sort of scams shouldn’t happen. Nothing is 100 percent but knowing these sort of tips will protect you if the situation does happen. Protect you and your family. We are your buying and selling headquarters.