Help!!!!!!!!!!!!!
 

Hey guys i need your help asap, so i sold my car and the guy i sold it to gave me a wire transfer for the money from his to my account on Friday of last week, and its still not in my account. how long does this usually take? this is a legit guy not some scam man, went to his office at the world bank and met his kids etc, but hes currently in japan and will be back this weekend. btw havent gave him the title

thanks guys for your help

I would call your bank and specifically ask them how long it should take. It was a holiday weekend and things may be a bit slow.

As long as you still have the title you should be o.k., Since it was a holiday weekend it should be a bit longer for the bank to process the transfer.

How do you know he wire transferred it? Do you have some confirmation number or a printed receipt? Please tell me you did not give him the car and title before you had the money?

Did you do a title transfer? In most states that means he had to show a notary his driver's license. Get his address from the notary and be ready to sick the cops on him if the money does not appear in your account by Friday morning (that's 3 business days).

Don't cancel your car insurance until you have the money. If this is a scam (and I hope its not), then report it to the police - its theft by deception and fraud. Then take the police report to your insurance company and get some recompense.

Good luck
Alan

i have the title, he sent a fax and i saw it, he confirmed it and sighed it.

As long as you have the title, you are OK>
Once the money hits your account, move it to another account and keep amounts in the receiving account extremely low [so they can't remove the money]
Keep your For Sale listings active until the bucks are in.

I used to do wire transfers all the time a few years ago. Unless it's changed, it's a surprisingly manual process. It can take a business day or two depending on the cut offs at the banks involved. I wouldn't worry about a 1 day delay. Any longer and I would call the bank.

it takes about 2 business days from my previous experience but might be a little longer because of the holiday weekend.

So you have the title, who has the car?

Its a long story, to make it short they havent started the transaction, i looked up his name and info and hes pretty important a the world bank, ex, hes got pics, and articles on google so im no TOOO worried

Dude, you are so screwed! :eek:

haha....just kidding. I do wire transfers all the time so maybe I can help.

Was this an international wire transfer or a national one?

If it was national it should not take more than 24 hours and 48 at the most. So the money is probably lost by the bank. Just have him call his bank and trace it. If they lost it then they will find it as it is their responsibility not yours.

If it was an international one it usually takes 2-3 days. Once I saw it take 5 days with no explanation. With international transfers there is often an intermediary bank so that is why it takes longer, I think.

I once did a transfer and my bank manager put the wrong account number as the destination. So when the money did not arrive she just called the receiving bank and moved the money. It was no big deal.

I am pretty sure that once a wire is sent it is impossible for the sender to ask for it back assuming the correct person received it.