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Old 11 May 2020, 01:38 AM   #1
WatchesinSF
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Transferwise for international purchase

Hi there, I have a buyer in Netherlands that is interested in a watch I'm selling for $4.5k. He offered to pay via Transferwise. Looks pretty legit, but this is an international transaction, so I'd like to be cautious. Anyone have advice on Transferwise? Anything to be on the lookout for as a seller?
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Old 12 May 2020, 08:44 PM   #2
jtambiah
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I can confirm it is a safe form of international payment transfer. Itís become my go-to method for sending and receiving money from abroad (I am US based). The downside is, it is not instant, and can take up to 4 days for funds to clear.


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Old 13 May 2020, 01:27 AM   #3
CorradoBrit
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I would only do bank transfer for an international purchase. No point taking the risk with so many bad apples out there.
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Old 13 May 2020, 01:43 AM   #4
tudorbaja27
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Transferwise (as a paying tool) is solid and you can pay the fee for immediate transfer
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Old 13 May 2020, 03:35 AM   #5
WatchesinSF
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Is there anyway to reverse payment after it is made, like Venmo? Any risk once you have received payment in your account?
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Old 13 May 2020, 04:15 AM   #6
Doc Savage
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Forbes did a positive story on Transferwise fairly recently. I have also used them without any trouble. You can pay via CC, debit card, or bank transfer, but I don't want to give anyone else direct access to my checking account, so I use the CC option. You'll pay a higher fee using your CC on Transferwise, but to me, it's worth it.
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Old 13 May 2020, 02:17 PM   #7
Myzi88
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It is good for tge seller - risky for the buyer ��
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Old 23 May 2020, 07:26 AM   #8
byr0nic
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Transferwise is as legit as any other bank account (in fact, it is a bank account, or at least their 'borderless account' product is); it's simply a sensible ways to get a decent forex rate (what he's probably optimising for if primary currency is EUR, hence why he wants to use it), so I'd simply view it as a signal that you're not dealing with an idiot, and that's pretty much it! ;-)

Everything else should still apply re: the transaction and your assessment of its safety, of course, however TW in itself is not a vector that should raise concern.

The _only_ thing I'd say that is odd here is why it even required the buyer to mention it in the first place; as above, it's akin to a regular bank account (as has been noted, how you add funds can be via debit/credit card, or another bank account), so assuming you're sharing your bank details to have funds transferred directly by the buyer, whether Transferwise is being used to send the funds or not is immaterial from your POV (apart from a few convenient notifications sent via the TW system)... all that will happen is funds are added as per any other local bank transfer, even if Transferwise is used to send them.
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Old 25 May 2020, 12:45 AM   #9
southtexas
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Can a transferwise transaction be reversed or disputed by the seller? If he pays with CC, can he file a dispute with CC company which could force transfer wise to reverse the money out of the recipient account?


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Old 25 May 2020, 01:24 AM   #10
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Quote:
Originally Posted by southtexas View Post
Can a transferwise transaction be reversed or disputed by the seller? If he pays with CC, can he file a dispute with CC company which could force transfer wise to reverse the money out of the recipient account?


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pretty sure it is counted as a cash advance/ cash withdrawal.
https://transferwise.com/help/15/pay...-charged-extra

Way safer than let's say a paypal imho
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Old 29 May 2020, 06:47 PM   #11
Austin in Japan
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My friend lost about 2.5 grand through Transferwise. It's been over a year and still no luck getting it back.
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Old 1 June 2020, 03:22 AM   #12
WatchesinSF
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My friend lost about 2.5 grand through Transferwise. It's been over a year and still no luck getting it back.
Could you give more details?
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Old 4 June 2020, 02:04 AM   #13
Bardamu74
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Only harms the buyer

As a seller you donít need to worry, transferwise can only be harmful to the buyer thatís what he meant. Iíve used it twice and it was spotless, very easy and takes about a day or 2 for the money to be available.

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Could you give more details?
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Old 7 June 2020, 02:00 AM   #14
sp006
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Used Transferwise on 2 separate transactions with sellers in Australia and everything was flawless.


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Old 7 June 2020, 11:45 PM   #15
james272
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Simple use AMX to pay using this form of payment- you have the protection AMX offers. You can dispute the charge if things aren’t right. Please please DON’T send anyone a bank wire - you will be begging to get cheated- period! This is a simple solution- if you have to pay a little extra using a CC - do it! Cheap insurance.
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Old 7 June 2020, 11:48 PM   #16
james272
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Whoops , sorry I thought you were buyer OP. As seller sure do bank wire or this thing but DO Not send out piece until funds clear you bank! Simple .
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Old 8 June 2020, 12:29 AM   #17
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Quote:
Originally Posted by james272 View Post
Simple use AMX to pay using this form of payment- you have the protection AMX offers. You can dispute the charge if things arenít right. Please please DONíT send anyone a bank wire - you will be begging to get cheated- period! This is a simple solution- if you have to pay a little extra using a CC - do it! Cheap insurance.
There he is, my man!!
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Old 15 June 2020, 02:01 AM   #18
TempoKing
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I do all my money transfers with transferwise.com
just send to my daughter 50
from my USA account to her account in England ...

.she got the gift in 4 (four) SECONDS !!....fantastic service - cheapest way to sent money
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