Safe Method of Payment (receiving) for NFA items?

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Wahnsinn
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Safe Method of Payment (receiving) for NFA items?

Post by Wahnsinn »

Hey guys, somewhat involving NFA weapons, thinking about selling my M11/9 :D When selling larger dollar items, what's currently considered to be the best/safest method of receiving payment for individual > individual to try and avoid a fraudulent payment? Postal money order, certified check, cashier's check, something else?

Thanks.
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doubloon
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Re: Safe Method of Payment (receiving) for NFA items?

Post by doubloon »

cash
http://www.youtube.com/watch?v=BDtd2jNIwAU MUSAFAR!
http://www.youtube.com/watch?v=8CrOL-ydFMI This is Water DavidW
Complete Form 1s http://www.silencertalk.com/forum/viewtopic.php?f=10&t=79895
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Wahnsinn
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Re: Safe Method of Payment (receiving) for NFA items?

Post by Wahnsinn »

doubloon wrote:cash
:D If only it were that easy, guessing they're not going to send me $5k in a box, maybe if it's face to face.
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doubloon
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Re: Safe Method of Payment (receiving) for NFA items?

Post by doubloon »

AFAIK it is technically possible to cancel a cashier's check

If you think you can't trust the guy it sounds like you need a 3rd party arbiter, if you think you can trust him then the form of payment doesn't matter unless you think he shouldn't trust you.
http://www.youtube.com/watch?v=BDtd2jNIwAU MUSAFAR!
http://www.youtube.com/watch?v=8CrOL-ydFMI This is Water DavidW
Complete Form 1s http://www.silencertalk.com/forum/viewtopic.php?f=10&t=79895
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Wahnsinn
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Re: Safe Method of Payment (receiving) for NFA items?

Post by Wahnsinn »

Makes sense, thanks.
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robpiat
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Re: Safe Method of Payment (receiving) for NFA items?

Post by robpiat »

Multiple Postal Money orders is probably the most common way. You could also request a wire transfer. The transaction will have a solid paper trail and you will still have the mac until both payment and the paperwork clears.
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L1A1Rocker
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Re: Safe Method of Payment (receiving) for NFA items?

Post by L1A1Rocker »

I'd go with a bank wire or cashiers check from a known bank that will verify by phone the checks validity (you want to call to verify that it's not a forged or altered check). Last time I was in banking (retired from it a number of years ago) you could not stop payment on them for 3 (or 6 my memory is fuzzy) months. You can check on this by calling any bank - the regs on CCs are all the same. Also, on a bank wire there are usually fees for both sending and receiving.
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Re: Safe Method of Payment (receiving) for NFA items?

Post by mbogo »

Bank wires are foolproof.

If don't bank online, notify your bank that you are expecting a specific amount via wire and ask them to notify you when it has arrived.

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Re: Safe Method of Payment (receiving) for NFA items?

Post by gunningbadger »

I wish I had the cash. I'd buy it from you right now!
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Re: Safe Method of Payment (receiving) for NFA items?

Post by jt526 »

I've only bought, but every time I've bought by sending a check (overnight from bank via online banking) and waiting for it to clear. So far I've never had a seller refuse that payment. Nothing is going to clear forever anyway. As I buyer I'd be way more concerned about non-existent NFA being sold. Is it possible to cancel a check after it clears? I wouldn't think so, but what do i know.
Stupid, stupid NFA items.
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Re: Safe Method of Payment (receiving) for NFA items?

Post by L1A1Rocker »

jt526 wrote:I've only bought, but every time I've bought by sending a check (overnight from bank via online banking) and waiting for it to clear. So far I've never had a seller refuse that payment. Nothing is going to clear forever anyway. As I buyer I'd be way more concerned about non-existent NFA being sold. Is it possible to cancel a check after it clears? I wouldn't think so, but what do i know.
If your concern is that the item doesn't exist, or that you may not receive it use some sort of escrow service. Of course such a deal should have been worked out PRIOR to the sale. The seller may not want to go that rout as it was not agreed to prior. No, checks cannot be "canceled" after they clear. Although I have heard of wires being reversed.
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Re: Safe Method of Payment (receiving) for NFA items?

Post by David Hineline »

There is no form of fake payment that won't be found as fake before the transfer is approved and occurs. Until you have over the gun you can cancle the transfer and get the $200 back.

The trust would be entirely on the buyer's end.
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Re: Safe Method of Payment (receiving) for NFA items?

Post by Kramer »

Wahnsinn wrote:
doubloon wrote:cash
:D If only it were that easy, guessing they're not going to send me $5k in a box, maybe if it's face to face.

It would be cheaper to send the 5k in a padded envelope. :lol:
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Re: Safe Method of Payment (receiving) for NFA items?

Post by mbogo »

Wire transfers are irreversible.

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Re: Safe Method of Payment (receiving) for NFA items?

Post by BIG_GUNNUT »

David Hineline wrote:There is no form of fake payment that won't be found as fake before the transfer is approved and occurs. Until you have over the gun you can cancle the transfer and get the $200 back.

The trust would be entirely on the buyer's end.

+1
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Re: Safe Method of Payment (receiving) for NFA items?

Post by jaredr »

wire transfer. For my last MG purchase, seller was actually using the same bank as me so I was able to simply deposit the money directly into his account online as an internal transfer - same effect as a wire but less paperwork and fees. Only viable if you're using the same bank and your bank allows that type of transaction.
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Re: Safe Method of Payment (receiving) for NFA items?

Post by 66427vette »

The seller holds all the power . The buyer should be the one worried as the seller can screw over buyer over at anytime in the process.
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Wahnsinn
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Re: Safe Method of Payment (receiving) for NFA items?

Post by Wahnsinn »

FYI, put my M11/9 up for sale with all the stuff I have for it on a few of the boards (Uzitalk/AR15/Sturm) if anyone is interested.
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ToyotaGuru
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Re: Safe Method of Payment (receiving) for NFA items?

Post by ToyotaGuru »

Silncerco had a recent blog about a new company to handle the payment. http://www.pistolpay.com/
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Re: Safe Method of Payment (receiving) for NFA items?

Post by Bendersquint »

It's FREE?
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Re: Safe Method of Payment (receiving) for NFA items?

Post by robpiat »

Bendersquint wrote:It's FREE?

Credit and Debit Card Transactions:
For transactions involving payments made using a Buyer’s Credit Card or Debit Card (MasterCard, Visa, Discover and American Express based payments), Pistol Pay will charge the Buyer 2.7% of the transaction value, and will charge the Seller 2.7% of the transaction value, for a total transaction fee of 5.4%.

ACH Transactions (Coming Soon!):
For transactions involving payments made using an Automated Clearing House (ACH) direct debit transfer from the Buyer’s checking or savings accounts, PISTOLPAY will charge the Buyer 1.6% of the transaction value, and will charge the Seller 1.6% of the transaction value, for a total transaction fee of 3.2%.

On an NFA transfer, this would be a non-starter. Cost plus waiting for the buyer to release the funds.
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Re: Safe Method of Payment (receiving) for NFA items?

Post by Bendersquint »

Was asking about the M11 setup, there is no price but a offer for sale so I will pay the transfer tax for him! ;)
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Wahnsinn
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Re: Safe Method of Payment (receiving) for NFA items?

Post by Wahnsinn »

lol no there is definitely a price didn't want to anger the forum watchers :)

ETA: Sold, ended up going for $5k to a local guy (he pays for the stamp). Fair deal for all I think.
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