p.1 #1 · Buying high ticket item on Buy and sell forum
Hi I am new to buying high ticked items on the internet - just some questions
1. Is it ok to meet seller in person in a SAFE place - like local police station or bank to complete transaction ?
2. Isn’t it better to show up with cash and pay in person after inspecting item rather than using other services ?
3. If I am selling I think I would want to offer to meet the person in person at bank/police station for mine and the buyers safety and complete transaction in cash ?
p.1 #2 · Buying high ticket item on Buy and sell forum
Question 1: Yes, absolutely.
Question 2: It probably depends on whether or not you feel safe carrying around a large amount of cash and of course, the person that you are dealing with. Using protected payment methods gives you protection in the event that there is an undisclosed issue with the equipment. Sometimes, honest people are also not aware that there may be some kind of problem with what they are selling, so keep that in mind as well.
Question 3: Really the same question as #1. It is safe there for both buyer and seller.
p.1 #5 · Buying high ticket item on Buy and sell forum
I no longer accept cash for high-value transactions, as there is too much counterfeit currency circulating these days, and the buyer may not know it. You could go to a bank with the other party and watch them withdraw the cash, which ought to be safe since you would hope the bank isn't passing bogus currency.
I don't know what the banking laws are in the US, but here in Canada if you deposit more than $10k in cash you are flagged as a potential money launderer.
You shouldn't use PayPal for in-person transactions, as there is no protection for either party without documented and traceable proof of delivery of the goods.
p.1 #6 · Buying high ticket item on Buy and sell forum
Venmo in person can be sketchy also. There's been a few incidents reported on FM where a buyer met in person, paid with Venmo, and then the buyer disputed the transaction.
p.1 #7 · Buying high ticket item on Buy and sell forum
Cliff L. wrote:
I don't know what the banking laws are in the US, but here in Canada if you deposit more than $10k in cash you are flagged as a potential money launderer.
.
Deposits of $10k are reported to the IRS...or at least they "were" a few years ago....
"Currency Transaction Report (CTR): Your bank files a standard form with the U.S. Treasury's Financial Crimes Enforcement Network ...."
Now while this is the "law", doesn't mean people can circumvent the procedure.
Dan
