If you ask for a transfer of funds directly into your bank account, it basically becomes a "cash" transaction and as it is "their" bank transfering it's (the banks) money into your bank, then to your account, the actual transactions are the responsibilities of the banks, your account is credited and their account is debited (or they can do it by taking cash to the bank and having the bank do the transaction even if they don't have a bank account). The old way (but still used by many) was that they took money (cash) to the post office and the post office would electronically forward it to your nearest PO where, with the appropriatre idetification, you could pick up the cash. problem solved! Deal as close to "cash" as possible, and there are less potentual problems (unless your worried about counterfiet money?)
Darryl

I've gotten a couple of these "bonus" checks....I contact the bank they are drawn on to confirm they are bogus then forward them to the internet fraud coordinator at the Tampa office of the FBI.

I just got this scam offer on my ad. I told him I only deal in cash. Do you think his agent will show up with the money?

I just got an offer on my add as well. What was the area code the call came from?

I already deleted it, but he claimed to be in Switzerland and would mail me a cashiers check for $3100 more than the price, to be deposited in an account to take care of the shipping. After the funds are all transferred , his "agent" would come and pick up the boat. I'm still waiting for his "agent" to come over with the cash.

Sorry to break in, but I would advise not to sell even if his "agent" shows up with cash. Don't try to outsmart him using whatever you think is a safe system to sell the boat. This person wants to rob you and your greed is his main weapon, so don't WANT to sell to him. Report to the authorities (there is indication of how somewhere in this thread) and refrain from doing ANY business with him. Avoid ANY contact.
Take care,
Luiz Schechter

Luis is absolutely correct -- these are criminals. I have heard reports where they have threatened violence. Just stay clear of them.
Rick

When I was selling my boat I was getting almost 5 scammers emailing me a day. It is almost enough to make me want to stop trying to sell on the web. Then when I wanted to purchase a Columbia 28 in North Carolina, I sent an email to the guy saying I would send him a cashiers check for the amount of the boat plus 2 months slip fee, because I wouldn't be able to make up there for a few months. he backed out and my guess is he thought I was trying to scam him. This is really ashame and all of us suffer.

Try again with a wire transfer. Avoid checks.

Have you ever read the actual text of a check? I don't remember the exactg words, but it means more or less the following:

To: Bank
Please debit my account with yourselves the amount of yyyy dollars and pay to Mr. xxx or the person he designates.

Essentially, the problem is that the check is only an instruction for the bank to pay someone - but it is NOT the actual payment.

A cashiers check is a check issued by the bank instructing itself to pay someone an amount. It is safer, but again, it is an instruction to pay - not the payment.

A wire transfer is the payment in itself and almost as good as cash. Note: almost.

Luiz,
What did you mean by a wire transfer is as good as cash "ALMOST"? In what cases would it not be as good as cash?

We have an unusual situation which just arose today.

We have an old Hobie Wave, with no rudders, for sale for $1,200. A guy in Belgium wants to buy it and says he will have a shipping company pick it up. He paid for it with a direct wire transfer into our bank account. The catch is that instead of sending $1,200, he sent $12,000.

We e-mailed him and told him of this apparent "error." He expressed surprise and gratitude that we are so "honest," but said this error was going to be a major hardship on him and his associate, and can we, as soon as possible, wire (bank transfer) back the $10,800 that was in excess of the purchase amount.

If this is a scam, it is a variation on the usual theme that involves a cashier's check, since this one involves an electronic transfer. And in the check cases they tell you up front that they are sending a check for more than the amount; whereas, in this case he is just saying it was an honest error.

I can't quite figure out how it works to the benefit of the scammer, since the whole $12,000 is in our account.

From what I have read, it could be part of a money-laundering operation where they are not really trying to get any money from us but just using a boat purchase as an excuse to move money around.

But if their $12,000 really is in our account, it puts us in an awkward position. We don't want to send the guy $10,800 unless we are absolutely sure we have the money -- like go to the bank and get the money in our hands and then send the $10,800 (or the whole $12,000, as far as I am concerned), because I can't believe the guy really wants this boat.

But if it turns out that the $12,000 he sent came out of someone else's account because of identity theft, would we be liable sometime in the future to reimburse the $12,000 to the true owner of the money?

On the other hand, if he really is the true owner of the money, we need to give it back to him.

And on the other other hand, if he is a crook using us to launder his money, if we give it back to him, we would be, in effect, aiding and abetting a criminal.

Has anybody else encountered this particular situation?