7 Things You Should Never Accept From An Online Buyer

November 5, 202614Views

Minutes Read

You finally listed that dresser, the golf clubs or the old riding mower. Within an hour a buyer messages and says they want it, no haggling.

That is exactly when to slow down. The Federal Trade Commission has warned for years about fake check scams, and the agency’s advice (2013) reads like a checklist for anyone selling online.

Here are 7 things you should never accept from an online buyer.

Each one comes from the agency’s own warnings, and each one takes about a minute to remember. A minute is cheap compared with losing the full amount of a sale.

Never Accept A Check For More Than Your Selling Price

This is the classic. According to the FTC, a buyer responding to your classified or online auction listing sends a check for more than the price and asks you to wire back the difference. The check bounces, and you are liable for the full amount.

The FTC’s advice is direct: “Never accept a check for more than your selling price.” Ask for the correct amount, and if the buyer refuses, return the check without sending the merchandise.

It sounds polite to say yes and send back the extra, especially when the buyer has a sad story about a delivery driver or a family emergency. The FTC treats it as the signature move of the scam.

Never Agree To Wire Money Back To The Buyer

The FTC’s 2020 fake check infographic puts it in one line: “Never send money back to someone who sent you a check.” Once you wire cash, it is gone.

That is the whole trick. The scammer needs your real money to go out before the bank discovers the fake check coming in.

The FTC adds that if a buyer insists you wire money back, you should end the transaction immediately. Its words: “Legitimate buyers don’t pressure you to send money by wire transfer services.”

Never Trust A Check Just Because It Looks Official

The FTC explains that counterfeit checks can be cashier’s checks, money orders, or corporate or personal checks. Scammers often use real bank names and routing numbers, and the check can still be fake.

The agency’s own advice (2013) says some fake checks look so real that bank tellers are reporting being fooled. A crisp, official-looking check proves nothing.

If a stranger hands you a check, treat it like a promise from a stranger until your bank has fully confirmed it.

Never Treat Available Funds As Proof The Check Is Good

Here is the part that trips up careful people. Under federal law, banks generally must make funds from official bank checks available the business day after deposit, and for other checks the first $200 must be available the next day, with the rest by the second business day.

But the FTC says available funds do not mean the check is good. Until the bank confirms the funds have been deposited into your account, “you are responsible for any funds you withdraw against that check.”

The FTC’s 2020 infographic adds that spotting a fake check can take weeks, and by then the scammer has your money and you may have to repay the bank.

Never Give In To Pressure To Act Right Now

The FTC’s advice to sellers includes resisting urgency. Its 2004 consumer alert about overpayment scams also lists buyers who push you to “act now” as a warning sign.

The agency’s point is simple: if an offer is good now, it should still be good after the check clears.

Never Use A Payment Service You Have Not Checked Out

The FTC suggests an escrow or online payment service, and in the same breath says to research any unfamiliar service first. It recommends looking at the service’s website, terms, privacy policy and customer service before you use it.

If something about a buyer’s suggested service makes you uneasy, the agency says to skip it.

Take your time with the research. A reputable service will not mind you reading the fine print first.

Never Rely On A Phone Number Or Address The Buyer Gives You

The FTC recommends verifying a check by calling the issuing bank, and it says to find that number through directory assistance or a trusted website, not from the check or the buyer.

The agency’s 2004 alert also advises verifying the buyer’s name, address and phone number independently. If you take a check, choose one drawn on a local bank or one with a nearby branch so you can check it in person.

If you think you have been targeted, the FTC says to report it to the agency at ftc.gov/complaint. It also lists the U.S. Postal Inspection Service and your state or local consumer protection agency, and says state attorneys general can be found at www.naag.org.

What should you do instead? Use a method where the money is confirmed in your account before you hand over the item. Cash in person is a simple option, and the FTC suggests escrow or an established online payment service for sales at a distance.

Also tell family members who sell online. The people who get burned are usually generous, trusting folks who want to do the buyer a favor by sending back a little extra.

The FTC’s most useful line for any seller is the shortest one. If the buyer wants money back from you, the deal is not what it seems.