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Can etransfers bounce? ?

I’m selling a couple guitars across the country to some guy on craigslist who’s interested in them. He said once I figure out the shipping costs, he’ll pay for the guitars and the shipping costs through an etransfer. I’ve never done an etransfer before with a stranger and I’ve heard something about etransfers can sometimes not be safe. Is this still the case? 

2 Answers

  • 3 months ago
    Favorite Answer

    Don't send the goods until you check your bank account and see the money showing as a deposit. It doesn't take long. I deposited an e-transfer this morning and it shows in my account as a deposit now, 6 hours later. Googling 'can an e-transfer bounce' gives the answer 'no', because as soon as the sender initiates the transaction the funds are set aside to complete it, like with a certified cheque. If the funds aren't there, they aren't going to be able to send an e-transfer

  • 3 months ago

    An etransfer can be perfectly safe. Here's the scam- someone buys something from you. They tell you that they are trying to get some money to a friend, so they're going to send you more than the cost of what they bought, and would you take out the extra and give it to the friend who will meet you someplace? The transfer shows up, so you take out the money, give it to the friend, then get notified from your bank that the funds were not in the original person's account, so they are debiting your account. Then you're out the money you gave the "friend". If he doesn't pull something like that, it should be fine- although I don't know why he doesn't just use PayPal like a normal person. 

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