Originally Posted by BoldAdventure
It's a bit unreasonable these days unless you are dealing with amounts under 10K USD. Withdrawals of cash over 10K will cause an IRS inquiry and a blip on the DHS radar. Basically your bank will make you fill out a form stating why you want this cash, and that you're not a terrorist or money laundering. Plus, who walks around with the kind of cash these things sell for.
I sold my previous "non-AS" trailer to a buyer in the US who found my ad on an internet forum for the make of trailer. (I am in Canada)
We had several phone conversations and he seemed a very genuine person - there was not a whole lot of $$ involved, about $8k as I recall.
After exchange of many JPEGS, he agreed to buy the trailer sight unseen, then we started to discuss payment.
I suggested a bank draft (I'm not really sure of the terminology) but he told me his bank had some problem in giving him one since the $$ was being sent out of the country. Seemed odd - he said his bank told him their policy related to changes made after 9-11.
So I suggested he bring cash as it wasn't that much, but he was reluctant to travel with the cash.
I spoke with my bank to see what they might suggest and they wanted me to be very cautious in view of frequent scams.
Seems that some forms of transfer that might seem totally legit but could result in me getting the $$ right away only to find out weeks later that it was a scam, then the bank would be after me to return the $ and I would be the one out of pocket!
What they finally suggested was for me to have the other party bring American Express traveller's cheques for the amount, then when he arrived at our place for both of us to come to my bank branch together with the cheques.
We did that, and when we arrived at the bank, the bank contacted American Express regarding the serial numbers of the cheques and confirmed to whom they were issued before they would accept them and turn over the cash to my buyer who then gave it to me!
It all seemed to work fine - I don't know if this is a commonly used method?
All through this, I felt very embarrassed to be dealing in this manner with the buyer as he seemed totally honest and indeed was. We have visited each others homes and still keep in touch years later!
He understood and did not take offense!
But you just never know!