> > Why isn't it? Wire transfers are a common form of
> > payment for business transactions. If you purchase
> > something on e-bay and use pay-pal, aren't you are
> > paying via a wire transfer system.
Well sorta, but it's not the same as a bank-to-bank wire transfer. PayPal
is not a bank, which means they are not FDIC insured, and they are not
subject to banking laws. Among other things, that means they can seize the
contents of your PayPal account with little or no explanation or warning.
> > If someone wants to buy your car, and you request a
> > receipt of a wire transfer prior to transferring the car
> > (or goods) to the purchaser as a condition of the
> > purchase, why would you consider this unsafe?
IMO, that's as safe as anything. Nothing is 100% of course, but a
bank-to-bank transfer between US banks is about as good as you can get.
Even the fabled Swiss bank accounts are apparently no longer beyond the
reach of the law.
Randall
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