Selling overseas

-
Lildart

Lildart

Well-Known Member
Joined
May 18, 2018
Messages
110
Reaction score
96
Location
Missouri
Question for the ladies and gentleman.
When you sell a car from the USA to over seas. What process do you use for completion of the financial transaction? I have a gentleman in New Zealand that wants to purchase one of my cars. He has a broker in the US who handles the electronic money transfer. My bank gave me a routing number and a generic account number that would flag the bank when it arrived. The broker attempted to transfer the money but says they need my personal account number to complete the transfer. I am not willing to disclose my account number to anyone.

Please don’t think I am being scammed, he is a member of this board and a stand up guy. But I am not comfortable having my account number with brokers and the brokers banking institution.

How do you folks handle this? My bank has informed me that they will no longer be involved in this transaction.
 
6pk2goDemon said:
Why does he need a broker to handle the $$ transfer? This is what sounds fishy to me...
Click to expand...

Because he is in New Zealand. He said it is easier to do the wire transfer within the USA. I have never done this and was relying on my bank for help.
 
The easy way is to open an account in your bank for this transaction and after it arrives you transfer into your account.
 
69conv said:
The easy way is to open an account in your bank for this transaction and after it arrives you transfer into your account.
Click to expand...


I tried that, bank said the new account must be open for 30 days before any electronic transfer can take place.
 
6pk2goDemon said:
Why does he need a broker to handle the $$ transfer? This is what sounds fishy to me...
Click to expand...
And he is going to have to transfer to the broker anyway? So why not direct. I bought my vette in US and just did a simple electronic transfer into the seller bank . I also transfer directly to other countries and use XE which is a international transfer agency and can convert and transfer. There is a lag using XE .However, all of this needs a bank account number for the money to land
 
You might need a different bank, or go to the top. Did you explain the money is only coming in? Alternatively if you consider a new bank most will bend over backwards for a new customer.
 
I sold a car the Germany. My bank set up a new account for the Money to be sent to. When everything cleared I just transferred the money to my other account.
 
Your account number is on every check you write.. I've done several overseas money transfers selling cars .. they had my bank routing number and account number from my checking account.. very little in there.. money sent to account, car picked up within a week ...no problems
 
Last edited:
I'm the buyer in question. I use these guys to send money overseas multiple times www.hifx.co.nz
They give you a far better price than the banks and their rate to do so is only $12 regardless of the amount.
They deposit in Bank of America who then deposit it into your account via your banks head branch.
If your local branch has told you to use an account that doesn't correlate with the info at head office then head office sends the money back stating that that account does not exist which is what happened in this instance

The person whom you're sending money to has to use an account where all the details match up
Here's a car i bought on here recently, using the same process which was seamless.
Capt46 will likely join in [SOLD] - 1956 BelAir post
 
Last edited:
Lildart said:
I tried that, bank said the new account must be open for 30 days before any electronic transfer can take place.
Click to expand...

Open a new account and transfer everything you currently have to the new account.

Use the existing account to accept the transfer (assuming it's been open for 30 days). Once it hits, transfer it to the new account.

I have one account that I use strictly for sending and receiving online, I keep a minimal balance it in.
 
Lildart said:
Question for the ladies and gentleman.
When you sell a car from the USA to over seas. What process do you use for completion of the financial transaction? I have a gentleman in New Zealand that wants to purchase one of my cars. He has a broker in the US who handles the electronic money transfer. My bank gave me a routing number and a generic account number that would flag the bank when it arrived. The broker attempted to transfer the money but says they need my personal account number to complete the transfer. I am not willing to disclose my account number to anyone.

Please don’t think I am being scammed, he is a member of this board and a stand up guy. But I am not comfortable having my account number with brokers and the brokers banking institution.

How do you folks handle this? My bank has informed me that they will no longer be involved in this transaction.
Click to expand...

Normally when i buy US cars to ship to Australia i use Amex Foreign exchange fast & cheap they take from my account & deposit directly into your account
Takes 1 to 2 days .
 
Lildart said:
Question for the ladies and gentleman.
How do you folks handle this? My bank has informed me that they will no longer be involved in this transaction.
Click to expand...
I have lived and worked internationally for a number of years. The banking process can be quite complicated. My concern would be that you bank has refused to participate. That's a red flag.
 
44070dart said:
Your account number is on every check you write.. I've done several overseas money transfers selling cars .. they had my bank routing number and account number from my checking account.. very little in there.. money sent to account, car picked up within a week ...no problems
Click to expand...

^^^^^
This
 
The update to this is my broker transferred the money to a different bank yesterday and Lildart informs me that the money is in his account today.
 
dart6 said:
The update to this is my broker transferred the money to a different bank yesterday and Lildart informs me that the money is in his account today.
Click to expand...
Good news!

I do wire transfers between the US and Australia (and vice-versa) regularly as a part of my job. We are an Aussie owned company operating in the US. Sometimes the details are a bit of a pain, but we always manage to get it done.

Glad it worked out for you.
 
I bought an a-body vert from the US for some years ago. The seller opened a temporary account in the bank of New York which my bank here in Sweden transfered the money to.
 
You must log in or register to reply here.
-

Back
Top