International Bank Transfer? Your advice please.

[Versatile]

Hi Guys,

 

As i'm planning for a getaway this coming march, i have decided to book a villa located in phuket. However, this villa is not a hotel managed and it is managed by "agents"and private owner.

 

The payment mode is rather complicated. They requires bank transfer of 25% downpayment of the total sum and another 500USD as security deposit. My question is, is it safe? I've did my own diligence checks on and i don't find anything fishy. Agent replied in good english, they provide facebook page and many reviews from online.

 

The villa i'll be booking is this.

 

http://patonghill.com/5-bedroom-villa/ & http://privatevillarent.com/property/dvr29...g-luxury-villa/

 

They are actually the same villa but i believed managed by different agent as the quoted price is the same. Is there any insurance provided like ""paypal" where bank will provide some sort of protection against such claims if it happens to be a scam?

 

Checked with my banking friends and was told that normally bank will not protect against such claims and we have to do it at our own risk.

 

In fact, the agent did sent me the villa's owner banking details. I checked on the bank and it was indeed a vaild thailand based bank.

 

Anyone experience such international transfer before?

Edited January 16, 2012 by Versatile

[Tedlhw]

Hi Guys,

 

As i'm planning for a getaway this coming march, i have decided to book a villa located in phuket. However, this villa is not a hotel managed and it is managed by "agents"and private owner.

 

The payment mode is rather complicated. They requires bank transfer of 25% downpayment of the total sum and another 500USD as security deposit. My question is, is it safe? I've did my own diligence checks on and i don't find anything fishy. Agent replied in good english, they provide facebook page and many reviews from online.

 

The villa i'll be booking is this.

 

http://patonghill.com/5-bedroom-villa/ & http://privatevillarent.com/property/dvr29...g-luxury-villa/

 

They are actually the same villa but i believed managed by different agent as the quoted price is the same. Is there any insurance provided like ""paypal" where bank will provide some sort of protection against such claims if it happens to be a scam?

 

Checked with my banking friends and was told that normally bank will not protect against such claims and we have to do it at our own risk.

 

Anyone experience such international transfer before?

 

I have personally gone several times to such villas in Bali, so should be no problem.

In fact it was so nice, we actually sent our top clients on this getaway.

However, the contact for my case came highly recommended by a good friend doing the same thing as me.

They sent their clients to this place before, so i had no worries.

 

As for transfers, no, the bank does not gurantee such claims for sure.

The bank's only duty is to ensure the money reaches as per your instruction.

 

With many online reviews should be no problem.

If something did happen, it would suck, BUT not a life and death amount.

Dun lose sleep over it, go ahead and book.

Its very shiok one.

Edited January 16, 2012 by Tedlhw

[Versatile]

I have personally gone several times to such villas in Bali, so should be no problem.

In fact it was so nice, we actually sent our top clients on this getaway.

However, the contact for my case came highly recommended by a good friend doing the same thing as me.

They sent their clients to this place before, so i had no worries.

 

As for transfers, no, the bank does not gurantee such claims for sure.

The bank's only duty is to ensure the money reaches as per your instruction.

 

With many online reviews should be no problem.

If something did happen, it would suck, BUT not a life and death amount.

Dun lose sleep over it, go ahead and book.

Its very shiok one.

 

Thanks.

 

However, this bank transfer involve not only me but couples of them.

 

Friends of mine said not safe la.. scared scam la.. this la that la.. sian.

[Galantspeedz]

Thanks.

 

However, this bank transfer involve not only me but couples of them.

 

Friends of mine said not safe la.. scared scam la.. this la that la.. sian.

 

either you go ahead and take responsibility or choose one that does not involve bank transfer....

 

 

[Alim]

Hi Guys,

 

As i'm planning for a getaway this coming march, i have decided to book a villa located in phuket. However, this villa is not a hotel managed and it is managed by "agents"and private owner.

 

The payment mode is rather complicated. They requires bank transfer of 25% downpayment of the total sum and another 500USD as security deposit. My question is, is it safe? I've did my own diligence checks on and i don't find anything fishy. Agent replied in good english, they provide facebook page and many reviews from online.

 

The villa i'll be booking is this.

 

http://patonghill.com/5-bedroom-villa/ & http://privatevillarent.com/property/dvr29...g-luxury-villa/

 

They are actually the same villa but i believed managed by different agent as the quoted price is the same. Is there any insurance provided like ""paypal" where bank will provide some sort of protection against such claims if it happens to be a scam?

 

Checked with my banking friends and was told that normally bank will not protect against such claims and we have to do it at our own risk.

 

In fact, the agent did sent me the villa's owner banking details. I checked on the bank and it was indeed a vaild thailand based bank.

 

Anyone experience such international transfer before?

 

 

USD500 is not a big amount, should be ok.

 

Paypal offers buyer protection, should be ok as well.

 

I had a refund once for non-delivery of goods through PayPal.

[Versatile]

USD500 is not a big amount, should be ok.

 

Paypal offers buyer protection, should be ok as well.

 

I had a refund once for non-delivery of goods through PayPal.

 

I just called DBS, they said they don't offered any sort of "protection scheme" over such international funds transfer but however, we as the sender of the funds can raise a dispute claim if such "scam" happens.

 

Can paypal do international funds transfer to personal bank account? And, as for the buyer protection offered by paypal, i believed it applies for goods transcation and not for such transfer e.g. booking of hotel or security deposit?

 

 

[Versatile]

either you go ahead and take responsibility or choose one that does not involve bank transfer....

 

The problem is hotel managed villa doesn't have the space to accommodate all of us.

 

The only choice is to book via a private owner of the villa or via their rental agents.

[Happily1986]

I just called DBS, they said they don't offered any sort of "protection scheme" over such international funds transfer but however, we as the sender of the funds can raise a dispute claim if such "scam" happens.

 

Can paypal do international funds transfer to personal bank account? And, as for the buyer protection offered by paypal, i believed it applies for goods transcation and not for such transfer e.g. booking of hotel or security deposit?

 

Paypal works by linking to either a bank account or a credit/debit card. So for first question yes. However as Paypal is the middleman of sorts, it will hold the funds in ledger on behalf of the payee. At the point when the recipient intends to withdraw, it will levy the recipient a percentage of the amount transferred as an admin charge. So for the very same reason, the fella could request you to top up your "transfer amount" in the hope that you cover that admin fee.

[Happily1986]

I just called DBS, they said they don't offered any sort of "protection scheme" over such international funds transfer but however, we as the sender of the funds can raise a dispute claim if such "scam" happens.

 

Can paypal do international funds transfer to personal bank account? And, as for the buyer protection offered by paypal, i believed it applies for goods transcation and not for such transfer e.g. booking of hotel or security deposit?

 

Are you doing a TT? Once it goes through, really nothing you can do much to be honest. At least when you pay by credit card, the money will be held in ledger by the bank for about a week, assuming the merchant does not raise a claim to the amount so quick, therefore there is a crucial period of a few days to a week whereby you can signal the bank to freeze the money if you manage to discover any fishy things happening during this period. However once they got their hands on the $$$, there is little the bank can do.

Edited January 16, 2012 by Happily1986

[Galantspeedz]

The problem is hotel managed villa doesn't have the space to accommodate all of us.

 

The only choice is to book via a private owner of the villa or via their rental agents.

 

guess you can inform your other companions the constraint and ask them come up with a decision by voting..

 

anyway the way you say like alot people going.. about 8 thereabouts? each only 60-70usd..... so kiam siap meh

[Versatile]

Are you doing a TT? Once it goes through, really nothing you can do much to be honest. At least when you pay by credit card, the money will be held in ledger by the bank for about a week, assuming the merchant does not raise a claim to the amount so quick, therefore there is a crucial period of a few days to a week whereby you can signal the bank to freeze the money if you manage to discover any fishy things happening during this period. However once they got their hands on the $$$, there is little the bank can do.

 

Am i right to say that using Credit Card would be safer for such case? As mentioned, credit card's credit will be held in ledger for the receiver by the bank instead of conventional ways of transfer like funds transfer where funds will automatically be transferred once it is approved?

 

And let's say if no invoice or whatsoever is received for me, i have the rights to recall and freeze the amount transferred?

[Versatile]

guess you can inform your other companions the constraint and ask them come up with a decision by voting..

 

anyway the way you say like alot people going.. about 8 thereabouts? each only 60-70usd..... so kiam siap meh

 

11 pax actually haha.

 

Not kiam, is scared.. you know singaporeans.. all kia xi la bro.

[Versatile]

Paypal works by linking to either a bank account or a credit/debit card. So for first question yes. However as Paypal is the middleman of sorts, it will hold the funds in ledger on behalf of the payee. At the point when the recipient intends to withdraw, it will levy the recipient a percentage of the amount transferred as an admin charge. So for the very same reason, the fella could request you to top up your "transfer amount" in the hope that you cover that admin fee.

 

Sorry don't quite get what you mean by levy the recipient a percentage of the amount transferred as an admin charge.

[Happily1986]

Sorry don't quite get what you mean by levy the recipient a percentage of the amount transferred as an admin charge.

 

like if agreed amount is $500, paypal earn their cut by charging recipient rather than payee. The exact percentage (or the formula used) i am not so sure, but confirmed charge the guy who receive your moolah. So when he makes arrangement to draw the $$$ from PP, PP will deduct the charge and give him the difference. So many times when i deal using PP, the merchant often jack up the original amount to make me absorb the difference.

[Happily1986]

Am i right to say that using Credit Card would be safer for such case? As mentioned, credit card's credit will be held in ledger for the receiver by the bank instead of conventional ways of transfer like funds transfer where funds will automatically be transferred once it is approved?

 

And let's say if no invoice or whatsoever is received for me, i have the rights to recall and freeze the amount transferred?

 

credit card might be safer lah but only if say the fella does not hand quick leg quick, straightaway try to make a claim on your money. I am not entirely sure of the minimum compulsory period for the fund to be held in ledger but i think it is 1 or 2 days. So if you detect something funny you ask your bank to freeze the money.

[Versatile]

like if agreed amount is $500, paypal earn their cut by charging recipient rather than payee. The exact percentage (or the formula used) i am not so sure, but confirmed charge the guy who receive your moolah. So when he makes arrangement to draw the $$$ from PP, PP will deduct the charge and give him the difference. So many times when i deal using PP, the merchant often jack up the original amount to make me absorb the difference.

 

Is it possible to check the percentage paypal will be charging the recipient? In any case, if the recipient aint willing to absord the charges by PP, he can always claim from the 500USD security desposit by us..

[Versatile]

credit card might be safer lah but only if say the fella does not hand quick leg quick, straightaway try to make a claim on your money. I am not entirely sure of the minimum compulsory period for the fund to be held in ledger but i think it is 1 or 2 days. So if you detect something funny you ask your bank to freeze the money.

 

PP said normally funds transferred once approved and received, it's like immediate wired over. :(

 

In fact, it think PP works like bank policy too.. dispute after transferred..

[Happily1986]

Is it possible to check the percentage paypal will be charging the recipient? In any case, if the recipient aint willing to absord the charges by PP, he can always claim from the 500USD security desposit by us..

 

try this

 

Paypal calculator