How does online money transfer work?Is it a scam?

Question

I posted some items on yahoo auctions and ebay for sale.received an email from a woman who said she lived in california and wanted to buy my items.She said she would pay by online money transfer.She said she had already paid Western Union.Received an email from so called Western Union which said that they had approved the payment order.they said they would send me the payment once I send them the tracking number. any body knows how this works?What will happen after I send the tracking number?

Answer 1

You MAY want to read this warning from eBay:

How to Recognize a Counterfeit Cashier's Check Scheme

Here’s a scenario where a counterfeit cashier’s check may be used:

* A seller of a high-priced item receives a request from a foreign bidder to accept a foreign cashier’s check as payment or deposit for the item.
* Cashier's check amount far exceeds the value of the seller's item.
* Buyer asks the seller to send the overpayment amount via instant cash wire transfer service (through Western Union or MoneyGram).

The problem is that the cashier's check is most likely fraudulent and it can often take weeks or even months for the seller's bank to know if a check is real. Some checks may appear to be from a U.S. bank. However, upon closer inspection, the check includes foreign country or city names.

If the cashier's check is fraudulent, the seller is held responsible.

You should never accept overpayments from buyers for items where the buyer is asking to be reimbursed for overpayment.

http://pages.ebay.com/help/tp/isgw-fraud-receiving-payments.html

Answer 2

Western union now holds the money! The lady paid! Now you must send the object, ask for the tracking number, take the tracking number to western union, they will check to make sure its shipped and give you your money! Aint no mystery to it! Its the SAFEST way! Nobody gets screwed unless you unscrupulously sent her some garbage in which case she checks and doesnt accept it. The western union will have YOU up on charges!!

Answer 3

I may not be of great help however I do know that money transfer through email is commen. My mother gets them all the time through Canada Trust. I dont know if I would trust someone over the internet but I do know that sending money transfers through email isnt a hoax.