Question: When sending bank wires is...
 

Is there any form or action you can take if the other party doesn't fulfill your arrangement ie service, or product shipment?

Would you have to take out some sort of insurance or something ???? or do u just take it in the pooper?

I am sure someone has been in this boat before...


Keev

US Bank?

i send out around 10 wires a month. next to impossible to get your money back after it's been sent and received to an account.

hell, it's tough enough getting your money back on a fucked up wire, where the money didn't make it to an account due to some error in information.

wires are hard if you pay someone using a wire lube your asshole up just in case you are abiout to be fucked

ok more info about this

Its a international wire using a bank institution should i use some other provider that might give me some protection or pay up and use western union or something along those lines.. ?

I know a few good people in the extermination business if you have any problems.. lmk

use paypal if he fucks ou paypal will be on your side 100%

come on peeps help a bro out

you could always use an escrow service

I'll agree, I do about 2-3 wires a month. Once it's gone from your account via a wire it's like cash out of your wallet.

I'll pipe in.. I only make about half dozen wires per month...

I have had problems getting the money returned to my account when the bank csr missed a "0" on a transaction (00001 or something for a institution #)... that wire was for $45K US... they held my money for 30 days before returning it to me - even though they knew within a week what was wrong with the wire.

Pain in the ass to move assets around to be able to wire out another $45K on short notice. (oh wait, I have under 100000 posts, I must have no money :) )

At the time of this mix up, I was told I was lucky to even get my money back and that once you have signed the wire transfer papers, you are playing the banking equivalent of russian roulette.

If western union offers some form of protection and you are sincerely worried, go that route.

errrr this gots me in a bad position, never know what chinese exporters will do....

If I'm not mistaken you can open up a letter of credit with your bank. They guarantee the recipients bank the cash if the goods or services are delivered. I'm not sure if you have to have only one recipient per L.C. or if you can keep this open.

If that's not possible, I'd go the bank draft (way) and fedex it next day. May cost more and (is) more of a hassle, but once the cash is wired unless it's a Corresponding Bank (a reliable partner of your bank) then you can consider yourself f*cked.