|Don's Home Social Fraud-Scams Common Payment Scam|
I listed a vacation home for rent on eBay and around half of the responses were overpayment scams.|
I listed a stereo cabinet for sale on craigslist for $750 and 14 of the first 15 responses were various payment scams.
PayPal scams usually involves sending extra money to pay a shipper who buyer is sending.
These scams include several forms of payment:
Personal checks, Cashiers Checks, Money Orders, Paypal
They work on the fact that banks have to show a certain amount ($200 for a personal check or the whole amount for a cashiers check) as available in your account even though the check has not cleared thru the payers bank.
They take a variety of forms.
Cleared Checks - Risks, Scams, and Confusion
It's essential to know that a check can bounce after you deposit it - even if your bank allows you to withdraw cash from that deposit.
Unfortunately, the term "clear" sometimes gets used prematurely. An item has really only cleared after your bank has received funds from the check writer's bank.
It's best to ask for a check drawn on a local bank or a bank with a local branch. You can visit that bank branch to determine if the check is legitimate.
I got a bad check (below) from Citibank DE and went to a Citibank branch in NJ and told them I thought it was bad. They checked it out and said it was good and I could deposit it and open a new account to get a cash reward.
It's not clear exactly how long you should wait before spending the money, but you might want to wait at least 30 days. If the check is from a foreign bank, you should wait a little longer.
You might be tempted to ask your bank whether or not a check has cleared. While this is quite reasonable, it may not be as helpful as you'd hope. Bank employees often don't know exactly what your concerns are with the check, and sometimes they don't even know that checks can bounce long after they've been deposited. They don't understand the banks systems and assume if the money shows up in your account the check is good, which is not true. Sad!
If you're worried about bouncing checks, request payment in different forms. The safest way to get paid is via wire transfer. The money will only show up if it really exists, and the transaction cannot be reversed.
Cashiers Check Scams:
There are several sources:
Money Order Scams:
Money Orders can also be fake.
U.S. Postal Service Money Orders have security features that distinguish them from other financial instruments. Learning to recognize them will protect you from being victimized by the scheme. Postal Money Orders have special inks, watermarks, and security threads.
1. A watermark of Benjamin Franklin will show up when held up to the light.
2. A dark security thread running (top to bottom) to the right of the Franklin watermark, with the tiny letters "USPS" facing backward and forward.
Counterfeit Money Orders - Fraud Guides
Sellers Beware! - Paypal payments CAN 'Bounce'! | eBay
It turns out that a payment can be reversed for several reasons. I will give you a few:
Another paypal scam is send you a phony email indicating the payment has posted.
You've got moneyHave the buyer specify "Goods and Services" and not "Personal Payment" when sending the PayPal payment.
From: PayPal <email@example.com> [Be sure to verify this from address!]
Hello, You John Doe sent you $200.00 USD Transaction Details Transaction ID: 5NB33326HN011491G September 26, 2016
You should then see the following on your PayPal account:
John Doe"Print shipping label" will give you the option to print a UPS or Post Office label.
Money Received $200.00
OK to ship. What's next? Print shipping label | Add tracking info
"Add tracking info" - PayPal will provide tracking information (In process, On hold, Shipped, ...) to the buyer via email.
I talked to PayPal's dispute resolution department. They said:
PayPal Customer Support
PayPal Seller Protection for Merchants - PayPal US
PayPal user agreement "protection for Sellers" PayPal Dispute Resolution Process
Tips to help avoid disputes and chargebacks - PayPal
How to respond to a dispute, claim or chargeback - PayPal
Canceling a payment
Escrow services are services that act as payment intermediaries. They accept payment from the buyer, then notify the seller that the buyer has indeed paid; once the item is delivered, the buyer notifies the escrow service that all is well and the funds are released to the seller. In this way, both buyer and seller enjoy an increase in the measure of protection that they enjoy—the seller knows that the funds are both available and good, and the buyer knows that the seller won’t actually receive any money until a satisfactory item has been received.
Other Warning Signs:
A fake check I got for vacation home rental. I took it to a local Citibank branch and they checked it out and said it looked good and OK to deposit.
See overpayment scams.
Scammer1:<BR> Eathen Allen cabinet - $750 (Martinsville) ..Hello! Do you have Still have it for sale? I'm Sally
to me Thanks for the prompt response to text. I will be buying this from you, kindly withdraw the advert from LIST and considered it sold. My payee will be overnight the payment asap but he will be paying with a certified check from his Bank and it will deliver to you via United Parcel Service (UPS), so I'll need you to provide me with the following information to facilitate the mailing of the check... And am offering additional $50 with the original price to have this asap.
I will make arrangements for the pick up as soon as you have your check clear, due to my work frame and my Kids, I will not be able to come with the cash and pick it up myself , so my payee will mail the check and have someone pick up the item after the check clear., Reference to your List post am completely satisfied with it and the payment will be deliver within 24hours.. God Bless.
Hello I appreciate your quick response sorry for late respond and am happy you are selling to me. I got your details and have forward it to my secretary, payment Will be issue out to you and it will be delivered to you soon. I will email you with the tracking number for confirmation as soon as am provided with it. I will also like to let you know that shipping funds was included with your payment due to i might not be around once the payment arrive to you, Once the payment arrive you will go ahead and have the check cash then you deduct the money for your item with additional $?30 for your Gas and running around then you have the rest of the money send to my shipper via western union or money gram then I will contact shipper to get ready to come over for pick up immediately. LET ME KNOW IF I CAN trust you with this transaction.
Note you are not responsible for shipping as soon as you have the check and have it cashed my shipper will be coming over for pick up.Hope to hear back from you soon. I will email you more on what to do? Once you have the check.. you don't have to worry.. ?
Thanks for the prompt response to text. I will be buying this from you, kindly withdraw the advert from LIST and considered it sold. My payee will be overnight the payment asap but he will be paying with a certified check from his Bank and it will deliver to you via United Parcel Service (UPS), so I'll need you to provide me with the following information to facilitate the mailing of the check... And am offering additional $50 with the original price to have this asap.
Full Name: Address: Not P.O.BOX City: State: Postal Code: Total amount for the item Phone Number: That i can send textI will make arrangements for the pick up as soon as you have your check clear, due to my work frame and my Kids, I will not be able to come with the cash and pick it up myself , so my payee will mail the check and have someone pick up the item after the check clear., Reference to your List post am completely satisfied with it and the payment will be deliver within 24hours.. God Bless.
Receiver's Name:- .... ......... City:- Dallas State:- Texas Zip Code:- 75201Kindly get back to me with the Money-gram Transfer details after you might have send the money, such as;
8 Digit Ref #
Sender Name and Address as written on the receipt
Exact Amount that you send after you deduct the transfer charges
NB: Let me know if the address you gave to me is the same address for the pickup location?
Thanks, as i wait to read from you soon
Car, Auto, Truck Buying Scam - How it Works - a Real-life Example
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Common eBay scams and how to avoid them
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