Can you get ripped off by giving someone your account # and Routing # ?I have someone who wants to buy something from me but the want to transfer the monies thru the routing #.I have never dealt this way ,and the person is from canada.He seems legit , I just have never dealt this way.
RIPPED OFF!!!
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1,781 Posts
I'd be cautious!!! Cause with that info, they can make withdrawls from your checking account. Its just like having them having a blank check!
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93,064 Posts
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No they can't because they don't have his password
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6,014 Posts
I have done it when I sold a 57 to a guy in Australia. No problems.
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4,697 Posts
That's true. It's not as uncommon as it seems. In order to make a withdrawal you need more than the account numbers. You need to show photo ID as well. If the bank lets someone withdraw $ from your account without checking for proper ID it is the bank's problem not yours.
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Your account number is on every one of your checks ........ The routing number is how the money gets into your bank ...... its also in your check number but some banks have instructions in the routing info ...... like courisponding banks (if your bank is owned by another larger bank)
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319 Posts
No need to worry. Jimmy's right, they can't send you the money without it and they can't take your money out.
I did the same deal selling a car that went to Amsterdam last year.
I too was a little apprehensive so I took an extra precaution and opened a new account.
Sent him that account info and the deal was done without fear that he could access my main account.
Good luck!
I did the same deal selling a car that went to Amsterdam last year.
I too was a little apprehensive so I took an extra precaution and opened a new account.
Sent him that account info and the deal was done without fear that he could access my main account.
Good luck!
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6,046 Posts
If that were true, then everyone you have ever written a check to could rob you. That's the only way to wire transfer money.
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1,664 Posts
I do alot of business overseas and have never had a problem.
As long as they don't have our password or don't sign on the account you will be fine.
As long as they don't have our password or don't sign on the account you will be fine.
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1,781 Posts
They can get online to purchase parts, and use your routing/account number. Have you never paid for something online with just a routing/account number off your check??
I sold the engine out of my 10.5 car and the guy wired $30,000 to my account.This happens a million times a day in the business world and has for decades.I never thought twice about it because a good friend works at a bank and said it's the safest way to send money.No worries....
By the way it isn't hard to put a stop payment on a cashiers check or money order.I've done both when the seller acted shady after payment was sent.
By the way it isn't hard to put a stop payment on a cashiers check or money order.I've done both when the seller acted shady after payment was sent.
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1,781 Posts
I would do as post 11 and 12 stated. I did do a transaction like this awhile back, but I let my bank contact his bank, and they handled the transfer.
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I've sold a bunch of stuff to guys is Australia and Canada and they paid with wire transfers..................never had a problem. I was also concerned at first and according to my bank what they could do with the info is use my account to pay thier bills over the phone. Whenever I've made a phone payment for stuff using my checking account they ask for the routing and account number and that's about it so I could see that as a potential risk. I ended up setting up a seperate SAVINGS account that I use just for wire transfers. I leave a few bucks in it to keep it active, watch when I know there's a wire coming, and then transfer the $$ to another account as soon as I see it come thru. I also found that it cost me around $30 in fees to get a wire transfer so factor that into your price if that's a concern.
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4,463 Posts
my gf is a supervisor at a Harris Bank. She highly recommends against giving that info out because the UNKNOWN buyer can set up direct payments with just those numbers... exapmle she said is if he has T mobile, he can walk in and setup auto withdrawls with just that info.
She said she has seen this happen before.... unfortuantely...
She said she has seen this happen before.... unfortuantely...
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