Wire Payments - Are they safe?

Free Member
maz07
Posts: 9
Joined: 01 Sep 11
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5 Oct 11 01:07:37 pm
hi, i want to buy an item from a supplier but he accept only money gram and western union. I'm afraid of being scam, do you think that if i ever get scam..how can i get my money back through this two payments method? Explain please.


mazwen@gmail.com
Site Admin
richelle_salehoo
Posts: 5226
Joined: 20 Oct 08
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6 Oct 11 02:43:41 am
Hello maz07,

When you pay via wire transfer like Moneygram and Western Union, there is NO way of ever getting your money back unless your supplier will voluntarily refund you and return your money.

So unless you know the supplier and have been doing business with for a number of years I strong recommend avoiding wire transfer payments.

Hope this helps!


Richelle

Customer Support Manager
SaleHoo Group Limited
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fudjj
Posts: 5913
Joined: 27 Jul 07
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6 Oct 11 04:20:38 am
Just to back up Richelle's point!

Never, never use a wire transfer unless you have 100% faith in the supplier, because you are leaving yourself wide open to loosing your cash as there is no way of getting the cash back once it is collected.

While it is a form a payment used by genuine suppliers, it is very popular with scammers because of the ease in which they can make off with your cash, with no come back on them.

Where possible, use credit card as this gives you the chance to file a charge-back if something goes wrong with the transaction. Credit card should always be your number one choice, and I would suggest that the PayPal gateway is a great number two option.


Mark (fudjj)

Community Manager
SaleHoo.com

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Free Member
maz07
Posts: 9
Joined: 01 Sep 11
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6 Oct 11 05:35:10 am
Hi, thank you guys. ok. i did offer to pay via Paypal but they said that they only accept Paypal payment on bulk orders. I'm really confused of all this mess. Can i pay western union by Paypal?


mazwen@gmail.com
Site Admin
richelle_salehoo
Posts: 5226
Joined: 20 Oct 08
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7 Oct 11 01:39:17 am
Hello again maz07,

Unfortunately you cannot do a Western Union payment via PayPal.

To help you choose the correct payment options and avoid the ones that are NOT safe, I have coped this list from our Help section for your reference -

Safe payment methods that are offered by suppliers and wholesalers include:

1. Credit Card: One of the most recommended methods, especially on first trades and for sample orders, as most credit card companies are able to complete a chargeback if they or you believe there has been fraudulent activity on the card.

2. PayPal: Another highly recommended payment method. PayPal verify member's addresses and banking information when they join. Members are also required to have a credit card listed on their account. These stringent regulations make it almost impossible for would-be scammers to carry out fraudulent activity. However, we advise caution when using suppliers whose PayPal status is unverified, as this means they have not gone through the above process. As a rule of thumb, check with PayPal to confirm that the supplier is a verified member before you trade. However, most of the time this information will be stated when you are going through the payment process.
See Link hidden: Login to view for more information.

3. Escrow.com: A safe third party option that holds money in a trust account until the buyer receives the goods. Once goods have been cleared by the buyer, the money is released to the seller. Note that you should only use Escrow.com and no other services advertising as 'escrow'.
See Link hidden: Login to view for more information on this method.

4. Letter of Credit (LC): This is similar to an escrow service except your bank is the third party. How does this work? You go to your local bank and request a letter of credit for the amount you are wishing to send to the seller. Usually you will need the Pro Forma invoice to do this. The bank will hold this cash in your bank account and issue a letter to you and the seller's bank verifying that they are holding the money. When delivery of goods to you is confirmed, the bank will transfer the funds to the seller's bank account.

5. Cash on Delivery (COD): You pay the freight or delivery company directly when the goods are delivered to you. The freight company then gives the funds directly to the seller. Please note that the shipping company will not leave the goods with you unless you pay them at time of delivery.

Payment Methods that are NOT recommend by SaleHoo:

We do not recommend using the following payment methods unless you have had prior dealings with the supplier or wholesaler and everything went smoothly. These methods offer very little security for the buyer and are almost impossible to trace in the event of a fraudulent transaction. If you must use these methods, please be cautious and consider reducing the size of your order to minimize the risk.

Western Union: We do not recommend using this method of payment unless you have had successful prior dealings with a supplier. There is NO security for the sender using Western Union and you are also required to pay fees to send the money. Western Union itself issues this warning: "Make sure you know to whom you are sending money. If you are purchasing goods or services and paying through the Western Union network, it is your responsibility to verify the reputation and legitimacy of the seller. Western Union is not responsible for the non-receipt or quality of any goods or services."

Telegraphic Transfer/ Wire Transfer (TT): This is an interesting method of payment that can float between being a good option and a bad one! To start with, it has no safety benefit or security for the buyer. Once the money is wired into another bank account it is VERY hard to get it back. In saying that, this is often the only payment method larger manufacturers will accept - otherwise the risk of fraudulent charge backs (etc) is too great. Sometimes they may ask for a 10-20% deposit through bank wire, with the rest of the money payable on delivery of the goods. Common sense is paramount when using this method. To stay safe, spend time checking out the supplier's company, request some references and only place a small order at first.


Hope this helps :)


Richelle

Customer Support Manager
SaleHoo Group Limited
Sell more with your own professionally designed and search optimized e-commerce website. Check out Link hidden: Login to view now!
Free Member
maz07
Posts: 9
Joined: 01 Sep 11
Karma: 
7 Oct 11 08:07:06 am
Thank you so much Richelle. Now i understand more on each of this payment.


mazwen@gmail.com

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