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How safe is etransfer - selling big items?

With all the scams, swindlers etc out there, just thought I'd throw this out for anyone who may know more than I do:

For over 20 years I have had a totally rebuilt 348 Tri-Power for a 58 Impala. I always wanted to find a 58 Chev convertible for it, but never did. I just sold the engine on Kijiji yesterday. The buyer lives in the next province from me, so I have not met him. Everything was done by email.

He sent me a sizable deposit by etransfer to hold it until he can drive out and pick the engine up, at which time he will etransfer the balance. Ok, sounds good.

The question I am pondering is: How safe is etransfer? Funds are in my account. Can these be scammed? Can it be reversed somehow? I am leery of any transaction with a stranger for large amounts of money. Everything seems fine, but I believe in being very careful with Kijiji transactions.

Anyone have real life experience with this?
(Not looking for wild guesses - I can do those myself)

Thanks.
2007 GMC 3500 dually ext. cab 4X4 LBZ Dmax/Allison - 2007 Pacific Coachworks Tango 306RLSS
RV Rebuild Website - Site launched Aug 22, 2021 - www.rv-rebuild.com
30 REPLIES 30

midnightsadie
Explorer II
Explorer II
your very best info should come from your bank, ask them. on here a scammer could tell you anything. deal with your bank.