Tell us what you think! Private ****, dangerous or not?
  • Never mind, do as supplier suggested
  • Insist on sending payment to the company's bank account only
  • If the account name is the same as the contact person, you should send payment to this personal account
8 127
Private ****, dangerous or not?
Post 1 of 26
Admin Moderator
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It is very risky to wire payment to a personal ****. If any problems occur with this transaction, your payment cannot be used as evidence to prove you have dealt with this company. In short, your payment isn’t protected. Ensure your payment is only transferred to a company’s ****. Avoid sending payments to a personal ****. Find more tips here.

06 Jul 2008 23:59
Post 2 of 26
Ken Huang_1984
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Never pay to any private account ! Why need us to try such a risky way to do our business? A legit company won't refuse to offer their company account.
13 Aug 2008 19:49
Post 3 of 26
Unfortunately past international wired transactions to personal accounts have resulted in multiple scams which are usually ignored by local authorities and therefore untraceable.
 
I can understand why some legitimate suppliers would prefer personal accounts, due to tax reasons, business structure, fees, etc..but unfortunately there have been too many bad dealings/scams which have placed a sense of mistrust amongst local & international importers/buyers.
 
Other trusted pay alternatives:
 
Direct Company deposit
Paypal
Moneybookers
Letter of Credit
Bank Guarantee
 
Avoid these transactions unless you have a solid and trusting business relationship with foreigners.
 
Western union or any similar third party money transfer
personal bank accounts
 
15 Aug 2008 09:34
Post 4 of 26
tonyyyyy938
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Quoting from[Admin]:

It is very risky to wire payment to a personal. If any problems occur with this transaction, your payment cannot be used as evidence to prove you have dealt with this company. In short, your payment isn’t protected. Ensure your payment is only transferred to a company’s  Avoid sending payments to a personal Find more tips

 

 

 

 

 

 



Dear Admin

So what?

I have some of my good clients and they always give me their orders and send the money to my personal account .I arrange good quality and service for them.

So what?They trust me and I trust them.

The point is that why some buyers get scamed because most of them only care about the best price.What does best price mean?Great traps.For example,a piece of bread costs USD2.00,but scarmmers will sell you USD1.00.Do you think that it is right price? and it is all stupid to deal with them and then cry for that piece of bread.

Secondly,all buyers have chances to meet with a good supplier.It is not all mean that they must be from trade companies.So what?There are still many cases that buyers have problems with them.The point is that buyers once find a reliable seller,justtrust him and go on working with him.Why notjust do this?It is workable and you will not miss your money and products.So what if the price is a little higher?

 

16 Aug 2008 19:23
Post 5 of 26
GentlemanSheridan
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Quoting from [westspectrumtrade]:

This is an interesting topic. I have actually had contacts at companies in China get mad and almost yell at me because I will not send payment to a person. This is definitely a BIGGIE when talking about sending payments to companies and contacts that are legit. ONLY send payment to a company, never to a personal account. I agree!

No matter what, never deal with people that request or demnand that you pay to a private account. Always do safe business with safe companies, and even then do not be in haste. Wait, and check before you make any deal.


20 Aug 2008 18:02
Post 6 of 26
it also depands on the business type. If its an individual business, and the company is dealing directly to its owner, no harm to direct the payment to his/her personal account.

Just my 2 cents worth thoughts.
29 Aug 2008 21:47
Post 7 of 26
Sometimes it happens to me that my supplier (who I have known well and trust) asks me to send a portion of the payment to his private account. For me personally it would be OK, I have to pay anyway. However there are some points against it, like:

1. In many countries it is illegal to transfer large amounts of foreign currency to private persons from a company account. It is considered money laundering and has quite bad consequences.

2. Your partner asks you for this to avoid taxing in his own country which is also illegal. If it would be his own business I would not mind but today the tax bureaus of several countries - especially in the EU - cooperate to screen transfers like these and I can get into trouble if it turns out.

Additionally, it happens more often that the bank does not accept such transfer commissions at all (they have to check the target accounts first). I would definitely not transfer a penny to a private account of a new supplier I do not know.


c[]


19 Nov 2008 06:10
Post 8 of 26
Quoting from [tonyyyyy938]:

Quoting from[Admin]:

It is very risky to wire payment to a personal. If any problems occur with this transaction, your payment cannot be used as evidence to prove you have dealt with this company. In short, your payment isn’t protected. Ensure your payment is only transferred to a company’s  Avoid sending payments to a personal Find more tips

 

 

 

 

 

 

 




Dear Admin

So what?

I have some of my good clients and they always give me their orders and send the money to my personal account .I arrange good quality and service for them.

So what?They trust me and I trust them.

The point is that why some buyers get scamed because most of them only care about the best price.What does best price mean?Great traps.For example,a piece of bread costs USD2.00,but scarmmers will sell you USD1.00.Do you think that it is right price? and it is all stupid to deal with them and then cry for that piece of bread.

Secondly,all buyers have chances to meet with a good supplier.It is not all mean that they must be from trade companies.So what?There are still many cases that buyers have problems with them.The point is that buyers once find a reliable seller,justtrust him and go on working with him.Why notjust do this?It is workable and you will not miss your money and products.So what if the price is a little higher?

 i agree. most buyer send to person back account. just based on trust.

while some clients they want to have a cheapest price. how come . and dont care about the softness, and the quality aslo the workmanship.  just sell them a cheap cheap price. faint.

if you only deal with cheap price, for material, for quality. you know nothing. sorry i cant work with you.


27 Nov 2008 19:12
Post 9 of 26
Quoting from [Ken Huang_1984]:


Never pay to any private account ! Why need us to try such a risky way to do our business? A legit company won't refuse to offer their company account.


yes
03 Feb 2009 23:11
Post 10 of 26
Quoting from [pee rmohamead]:

Quoting from [Ken Huang_1984]:



Never pay to any private account ! Why need us to try such a risky way to do our business? A legit company won't refuse to offer their company account.



yes


Yes I agree. Its very risky to wire payment to a person. Donot send to a personal account

I prefer to sending payments to companies account.

26 Feb 2009 05:48
Post 11 of 26
Quoting from [pee rmohamead]:

Quoting from [Ken Huang_1984]:



Never pay to any private account ! Why need us to try such a risky way to do our business? A legit company won't refuse to offer their company account.



yes
i have a plan to buy somethink to china , thay ask me to pay via western union .


is that safety ??
27 Feb 2009 21:40
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