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Another wire transfer question...

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Dona

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I'm sorry if I appear to be ignorant on this subject...but first time doing this.

I received a wire transfer to pay for a purchase...but it had $25.00 deducted for the "wire transfer fee". Wasn't expecting this. Does the seller "eat" this....or is it the responsibility of the buyer? Don't know what amount to write out the receipt for.
 
S

small herd

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In my opinion the buyer should pay for it. Yes, there are charges for wire transfers.
 
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kaykay

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im suprised the bank even let them do that! everytime i have wired funds i had to pay the fee as the buyer. very odd
 

shminifancier

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small herd said:
In my opinion the buyer should pay for it.  Yes, there are charges for wire transfers.
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Sure is just like selling something on E Bay These company's have to make a little on each transaction, you bet.. Nut as a selling I ate mine..I wasn't going to ask for the amount over that the percentage was..
 

Vertical Limit

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Dona,

My buyers ask me to find out what the fees will be and send the extra. I would say if no arrangements were made it's your responsibility. Just remember next time to keep it in mind. But I would gladly pay the fee. Small price to pay, IMHO
 
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Minimor

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I checked with my bank the other day, because a buyer was wanting to do a bank wire into my account. I was told that the buyer will have to pay a bank fee at her end (my bank couldn't say what that fee would be of course) and then my bank charges me a fee of $9 (Which I expect the buyer to cover.) So, there are fees at both ends.
 
L

Lisa-Ruff N Tuff Minis

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Personally I pay the fees on my end and might even offer to not have them pay above the fee on there end if it is worth it for the 30 bucks to me to have the money right away and not have to worry about a check clearing
 

justaboutgeese

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Its not the buyers fault your bank charges a fee. There are banks that do not charge these excessive fees and if you choose to use a commercial bank as opposed to say a credit union the fee on your end should be the sellers not the buyers problem. Buyer should pay for the transaction so your bank recieves the full sale price. You should recieve the full sale price less your bank fees.
 

Minimor

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There are banks that do not charge these excessive fees and if you choose to use a commercial bank as opposed to say a credit union the fee on your end should be the sellers not the buyers problem.
My "bank" is a credit union, and they still charge the $9 on my end....maybe $9 doesn't seem like a lot, but on a price which has been discounted by a fair amount---making it a low selling price---it's enough. Add to that the fact that it is the buyer who is wishing to do it this way--personally I prefer to have a Canada Post money order sent to me via Express Post!!---then the buyer can darned well pay any & all bank fees.
 

shminifancier

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I have even sold as low as 200 dollars and still did not ask the buyer to pay Any Fee. I do however do not do any other things like no health papers no coggins etc. THAT is the business of the buyer at those prices if anything wants to get done. If they feel comfortable without any papers fine and dandy the horse goes without anything being done then on those type of low prices..That way I feel I Don;t have to ask for any additional fees to cover the bank fees etc.
 

Thunder

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To be honest with you Dona, for me, it would depend on how well the purchase has been going and how well I knew the person. Do I feel comfortable discussing things with them, as far as, the transaction.

Had I been talking to them over a period of time, let's say a year or more. Had I previously purchased from them or sold to them before. Do they seem to be fair in their dealings or do they always seem to be all about making the best deal for themselves. You know what I mean, I hope.

I try to discuss the fees before the wire occurrs. If I specifically ask for the money to be wired I pay all the fees. If they offer to wire they pay all the fees. If that isn't acceptable then it is a negotiation point. Then it might be time to suggest that we each pay the fees required by our own banks.

I know it can be kinda distressing when you've never done it before and your caught off guard. Just think you've learned something new. Seems like everyday you learn something with these little guys!
 

Ashley

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When I had mine done, I ate the price. IT was only like $15
 

Dona

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Thanks everyone. My money was $25.00 short. My wire transfer fee was $15.00. So, I'm assuming the person who wired the money, had a $10.00 fee that was taken out of the amount sent?

Since this wasn't discussed beforehand...I do plan on just letting it go. Live & learn.
 
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