Need Advice for payment with bank transfers

12 replies
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Hi.I recently start working on niche and found a supplier but once i made my order they asked me to pay by bank transfer .I usually paid to all my suppliers with paypal.Is it safe paying like that and what is the risk.They sent me the following email-

Payment: by SWIFT bank transfer in sender's local currency with bank transfer costs at sender expense, this takes about 1-3 work days. See bank details attached.

For payment by bank transfer, we kindly ask you to check your bank's "correspondence bank" (an intermediate bank for transfers to Thailand). Specifically, Deutsche Bank charges us an additional fee of 35 euro, without receipt, This is in addition to the SWIFT transfer fee you pay to your bank. If Deutsche Bank must be your bank's correspondence bank for transactions with Thailand, we are forced to invoice this amount as an (additional) transaction cost. It's best to avoid Deutsche Bank.
#advice #bank #payment #transfers
  • Profile picture of the author CandyxLand
    A bank transfer to Thailand? You're getting ripped off. Bank transfers are non-reversible, which is why scammers like them. Don't get me wrong, plenty of legitimate sellers take only non-reversible payment, but this has scam written all over it.
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    • Profile picture of the author RobinInTexas
      It's the same as sending cash except that the likelihood of it arriving is much higher. Once you push the button, the money is gone and you have no recourse.

      Only use it if you are certain of the person on the other end or you can afford to risk the loss of the amount.


      ...Even if you're on the right track, you'll get run over if you just set there.
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  • Profile picture of the author ares1980
    It looks reliable and very profesional but i havent done it before this way and as you said no security for the payment as paypal.Iam really wondering what to do in this matter.Is there any insurance i can make with this payment?
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  • Profile picture of the author ares1980
    I spent a couple of days preparing the order but didnt ask for the payment metod..
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  • Profile picture of the author Jute
    I think it is a scam. They use the basic scare tactics when they say if you use this bank you will be billed extra.... This is to look more "serious" I would never pay using bank wire!

    Say that you can not pay through bank wire and if they say that that is the only payment option then move on to another supplier.

    Good luck!
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    • Profile picture of the author agmccall
      Escrow, Escrow, Escrow

      The Flu? Not worthy of a mention here???
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  • Profile picture of the author Canadianajones
    Hi Ares,

    I have used swift bank transfer to Panama a few times and the intermediary bank (the one they all use for a clearing house) always charges a bit ($35 in my case) with a transfer of $1600. Typical time frame from Canada to Panama is 4 days.

    NOTE! I knew these guys personally because I had met them on a trip. I would never send money to anyone I did not have a good relationship with. As with our IM, you have to get to know them and feel comfortable prior to shelling out - or risk losing all you have sent.

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    • Profile picture of the author ares1980
      I sorted it out.I told that i havent used that way of payment so far and i dont want to.So they sent me a quick reply that say They asked for that payment because is cheaper and gave me their paypal or if i want to pay with credit card i can do it as well.So its ok.Thanks for the advices
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  • Profile picture of the author jedsonack2
    Completely untrustable. Better use Paypal again..
    Did they specify any reasons for Direct Bank transfer
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    • Profile picture of the author ares1980
      The reason was it was cheaper.But they agreed to send me secure paypal or credit card payment.
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  • Profile picture of the author thesweetspot
    Use Escrow or request that the buyer provide a bank statement on their end due to international processing policies. You should consider putting in international customer policies so that you can keep yourself covered and then if it happens again, you have their agreement that if they choose to do bank anything(you put in details accordingly) they have to submit proof of bank accounts or something to that effect.
    Drop Shipping Success
    How I Went From A Simple Idea To Processing Over $1,000 Dollars PER CUSTOMER!!!!!!!!
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  • Profile picture of the author vishwa
    When We doing Business and especially doing transaction Internationally, Then The Bank Transfer Option is not trustworthy. It has high Risk's Because When you done the transfer there is no way to get your Money Back. Better to stick with PayPal or any Payment option rather than irreversible.

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