Wire Transfer Account Protection

[Defiancekofb]

When you are selling an item, and are going to receive a wire transfer from the buyer, do you usually create a dummy account, that's specifically for receiving wire transfers only? Instead of sending the buyer the information to your primary checking or savings account, So that you are protected in the event of fraud? Any information would be wonderful, thanks!

[Terry Newton]

They have to route the money to your bank first, then to your account. I never set up a dummy account when I sold a watch. The transaction went smoothly and the money was put in my account safely. It's an easy process. You give the person your bank's routing number (call bank for this), then your routing number to your account.

Terry Newton

[Defiancekofb]

Oh I see thanks alot for the information terry!