Someone is wiring me a low four-figure sum, and while I don’t believe there’s any fraud involved, I like to be cautious after reading too much on r/scams and understanding how things are nowadays. My plan is to receive the wire and hold the funds for a reasonable period before releasing the item being sold. The buyer is aware and agrees to this. What would be considered a reasonable amount of time?
Hello, Check with your bank to find out how long wired funds take to fully clear.
Hello, Hold for 5-7 days, as this is generally a safe timeframe to ensure the funds fully clear.
Hello, Confirm with the Buyer: Agree on a specific hold period with the buyer before completing the transaction.
Hey, Verify with your bank that no reversals or chargebacks are possible before releasing the item.
Hello, Consider consulting a legal professional to understand your rights and options moving forward.