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Wiring money for rental?

Discussion in 'Buying, Selling & Renting Timeshares' started by Fishcoley, Sep 5, 2018.

  1. Fishcoley

    Fishcoley Guest

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    I have read posts that Western Union transfers are a big risk in renting. Just wondering if this is an opinion or the norm.

    Do any of you request direct bank transfers?

    Here is what the renter explained to me....

    “ I'm sorry, I do not use paypal. I have been receiving payment through bank and there has not been any problem. I understand your concern but you dont have to be weary, that is why I sent my original reservation confirmation to you so that you can verify my legitimacy. Tug do suggest paypal if the renter could not verify the reservation or when the owner could not provide the confirmation letter for the week.”
     
  2. grab

    grab TUG Member

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    Not knowing the renter in question I would be weary. Maybe it would be ok but probably not worth the risk.

    I do accept Zelle transfers and will pay that way if I know who I am dealing with but almost everybody pays me via PayPal.

    I had one person request payment for a purchase by me depositing money in their bank account. It might have been legit but I didn’t risk it.

    Do you have a contract in addition to the confirmation? Any insight to who the person is?
     
    TUGBrian likes this.
  3. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

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    Bank transfers give zero protection for the person renting. The same would apply to Western Union. There is no way to prove that the person that you are talking to is the owner even if they can produce the original reservation unless they are also providing a copy of their ID and even that they might obtain through identity theft. I would offer to pay an additional 4% to cover the paypal fees but for anything over $200 or some amount that I would be comfortable risky if it were a good deal, I would not pay through bank transfer. I have accepted bank transfers through google pay and Zelle but I would never insist on it from someone renting from me.
     
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  4. breezez

    breezez TUG Member

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    I would never wire money, I would agree to pay by PayPal, initially a deposit say $100-$150 and pay remaining balance once they send reservation to me in my name. This provides them funds for guest certificate fee and protects bulk of your funds till you see reservation. You also have Paypal and Credit Card Protection this way.

    Wire, once you hit send it’s gone, and you have little recourse if it was a scam.
     
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  5. DeniseM

    DeniseM Moderator

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  6. Fishcoley

    Fishcoley Guest

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    Thank you all! Not one person thinks this is an okay option so far. Thanks.

    I do have a contract, original reservation and have called to confirm the reservation and his ownership. All looks great. Obviously, I’m here though so I must not feel confident about it. I can find zero presence of this person online or social media and the wire is to his “accountant” under another name. I’m justifying this because maybe he is mature of age and doesn’t have an online presence. I won’t do it......
     
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  7. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    Zelle and other types of services don't offer much more protection against fraud either. They are not much different than wiring money. There is no buyer protection with Zelle.
    https://techcrunch.com/2018/02/16/z...-out-the-hard-way-theres-no-fraud-protection/

    It also doesn't look look like you can "technically" use PayPal for the sale or rental of timeshare intervals. This is only from the FAQ, nothing in their T&C stipulate anything about timeshare purchase or rentals.
    https://www.paypal.com/us/smarthelp...cy-regarding-the-sale-of-real-property-faq799

    Using a credit card with PayPal is a good option, as you can fall back on the credit card protections in the event of an issue where the renter does not deliver what was promised.
     
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  8. DeniseM

    DeniseM Moderator

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    This is a huge red flag: the wire is to his “accountant” under another name.
     
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  9. sue1947

    sue1947 TUG Member

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    Also, the misuse of the word "weary" instead of the correct "wary". Wouldn't touch this one with a ten foot pole.
     
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  10. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    My guess is that many well educated Americans misuse this word. Just like if the renter said "don't worry, you won't loose your money".

    Of course, I wouldn't proceed either.
     
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  11. davidvel

    davidvel TUG Member

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    Lots of typos/grammar issues:
    - wire to accountant
    - "I have been receiving payment through ____ bank" (lack of or misplaced articles (the) is typical for non-native English speakers/writers)
    - "Tug do suggest paypal if the renter could not verify"

    My opinion is don't do it.
     
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  12. echino

    echino TUG Member

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    I am not a native English speaker, and I had my fair share of potential renters responding to my ads run away when they learn my "scary" real name.

    Any timeshare sale or rental transaction involves some trust on both sides as it's impossible to completely eliminate risk for everyone.
     
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  13. bizaro86

    bizaro86 TUG Member

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    I would decline this opportunity, because of the numerous red flags. Ultimately if you send someone cash via wire you have no recourse if they scam you.
     
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  14. Fishcoley

    Fishcoley Guest

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    Thank you for your sage advice. I called the seller and after a discussion, he agreed to setup a PayPal account to proceed. Whew!!! I offered to pay a little more to cover fees. Thanks for this reccomendation.
    With his willingness to modify payment method, wouldn’t this be a moderately safe transaction even with the grammar issues & accountant?? Does that change the other flags? The contract also stated that the $$ would be paid to his accountant/trust and the reservation is under his trust name as well.
    Thanks for your patience & guidance with this today!
     
  15. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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  16. davidvel

    davidvel TUG Member

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    Just to clarify, did the renter originally want Western Union?
     
  17. Fishcoley

    Fishcoley Guest

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    He gave me his bank name, account and routing number to transfer funds to.
     
  18. TUGBrian

    TUGBrian Administrator

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    so many red flags on this...even with paypal you are still at such high risk of this being a scam given all the red flags above.

    there is no way I would have gone forward with this rental transaction. it is almost certainly a scam.
     
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  19. TUGBrian

    TUGBrian Administrator

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    didnt you mention above he didnt even give you that...but instead wanted you to wire the money to a 3rd party?

    the red flags just dont get any redder than this.
     
  20. theo

    theo TUG Review Crew: Veteran TUG Member

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    Just curious if the infamous "Samuel Kaplan" has returned as the alleged third party "accountant". :ponder:
    Run (don't just walk) away from this transaction.
     
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  21. Jan M.

    Jan M. TUG Member

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    I wouldn't consider renting from anyone who refused to take payment through PayPal.

    When paying someone for something through PayPal always pay with a credit card linked to your PayPal account, not your balance, your bank account nor your debit card. Paying with a credit card linked to your account gives you an additional layer of protection in addition to PayPal. People here on TUG have said that PayPal won't stand behind timeshare rentals. I know for a fact through personal experience that they don't have a choice when you file a dispute with your credit card company.
     
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  22. heathpack

    heathpack Tug Review Crew: Rookie TUG Member

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    Or “leery”.
     
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  23. DeniseM

    DeniseM Moderator

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    I recommend that you share the owner's name and email address here - we may recognize it.
     
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  24. Fishcoley

    Fishcoley Guest

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    Well folks...you sniffed this one out. The PayPal link he gave me(he didn’t set one up himself after all) is to yet a “different” 3rd party. Upon searching her name, there are reports of vacation scams with her as a partner in it. Where can I “out” this duo?
     
  25. Fishcoley

    Fishcoley Guest

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    Bo Jun, Tug listing 201634
    Email: home4rrest1@gmail.com
    Accomplices: Mavis Chaote(accountant), Donna Waddell(trusted friend with PayPal account)
    Update: Was able to identify a real person with this name and called him. He is the actual timeshare owner and this person online is impersonating him.
     
    Last edited: Sep 6, 2018
    jehb2, PamMo, Egret1986 and 3 others like this.

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