To my surprise, my seller also let me leave a personal check and take the horse home (across state lines) when we were leaving a show (PPE was complete). My bank app sent me an alert saying essentially “is this for real” and I clicked yes, and the funds were available very quickly. Probably before the blood work was back, which was the only remaining contingency in the contract but we were all very confident about it (and I’m a lawyer, so they knew I wasn’t messing around about that lol). Both sides felt very confident about the match and the deal, but I was still surprised they let me leave a check and take the horse!
1 Like
I just got a horse end of April and paid via wire transfer. It went through in less than 24 hours so she still had the horse before someone could transport him. I wasn’t really worried about the seller taking the money and running. She has a great reputation and came with many good references.
Seconded. American banks need to get their $h1t together for e-transfer so Americans can use it, too.
We worked through wire transfer for my last 2 transactions. Super easy. Just need account # and routing number. Usually there’s a routing number specifically for wires/ACH.
Last one went through wells-fargo on each side and took me about 10 mins in the branch. I think there’s a fee on one or both sides when it goes outside the bank, but given the size of the transfers, I’m fine with the $15-30 to ensure it gets there safely and timely.
Wire transfer - I find it’s a lot faster than it used to be!
I think in the majority of cases there is going to be a period of time where the seller has both the money and the horse. It may be a day or so, or weeks depending on the situation (such as importing). I was shipping one from Canada and there were probably 7 days where seller had both money and horse.
I would never do that without a contract signed by both parties. If the seller fails to deliver the horse, then you have legal recourse. I also am not going to send money off to someone I’ve only exchanged a few facebook messages with online.
Not to mention, I wouldn’t let a horse get on a trailer without the check clearing which probably isn’t going to happen in the hour or so between a buyer showing up with the trailer and the horse being ready to leave.
1 Like
So much great info here, I really appreciate all the replies! I’m going to go with wire transfer. Do most go through in 24 hours or less these days?
A domestic wire transfer is usually less than 10 minutes (with the funds in that account but usually fully credited to the receiving account at midnight when receiving bank closes it books for the day)
2 Likes
This has been my experience both sending and receiving wired funds for sales domestically… happens within minutes.
1 Like
I mean, cash is preferred 
but wire transfer, cashiers check, PayPal, personal check (if I know the buyers or the horse is staying with me until the check clears) all work and are methods I’ve used in the last year.
With the shift away from allowing trials, I think wire transfer is the fastest and most reliable.
It works well with paid trials also, as they already have the info, they typically have a contract, and then can just sign a bill of sale and wire the remaining if they proceed with buying horse.
Yes, cash is king, but I think most people aren’t comfortable walking around with high-5 or 6 figure amounts!
2 Likes
many people have had cash taken from them by the good old police who need no reason other than they believe you are running drugs and You Have No Recourse when they take your assets
and
(The $20 bill is the most commonly counterfeited banknote in the U.S.)
2 Likes
Wire transfers for all horse sales. I don’t care how low or high, I want a really solid transfer method, whether here or abroad.
PayPal with purchase protection for any items over $1k
Venmo if you’re ok with risk, but I personally keep it below 1k.
Em
3 Likes
Wire or bank cashiers check from local bank. Venmo if a small amount (maybe a show trial) And horse doesn’t leave property without being paid in full.
Wire transfer through my bank for within the US. However, my small, local bank royally f-d up an international wire transfer I did last year and, while I did eventually get my money back, if I ever do another international transfer I will use Wise.
1 Like
Well that’s absolutely horseshit, name a recent event where that has happened.
5 Likes
well you must be watching CNN or some other none news source as this is occurring very often
3 Likes
Still didn’t prove a recent case, just define it, which I know - so to take a page from the hyperbole book, you think criminals should keep the proceeds of their crime? It has to be proven by LE that the person was involved in crime, not just “because.”
3 Likes
well do as you wish
