Item buyer scam or not?

Tartu, Estonia

#1 Aug 2, 2014
Recently i planned on selling my camera, i live in europe, and the buyer lived in america, we talked it out, and he told me this solution, that he will go to bank, send the money (but it will be holded by bank), then the bank would send me email that the buyer "sent" the money and now its my turn to go package and send the item to him, and then i will take picture of the receipt and send the picture with tracking code to the bank of america email i got the notification earlier, then the bank will send the money to my bank.
Ive never heard of this before, and just want to ask some americans who know is this possible to do? does this even excist and is used often?

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