How safe is a bank transfer?

Guys.

I have sold something on ebay, winning bidder has contacted me & asked if they can do a bank transfer, they need my sort code & account number!
How safe is this? I know that if I write a cheque my sort code & account number are on the bottom??
I am just a bit concerned... I worry about everything...:confused:
So I was just looking for some advice.

Sorry to ramble

Thanks

Ginga
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Comments

  • Browntoa
    Browntoa Posts: 49,281
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    plus side it's quick and easy

    downside, it its an expensive item theres no reversing it
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  • Did you list Bank Transfer as a method of payment?

    If not, then remind the buyer that when they bid that they accepted the conditions of the sale and that you will require payment by one of your listed methods.

    Personally I would not give out my account details seeing as they also hold your home address through eBay.
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  • soolin
    soolin Posts: 71,978
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    Grab the payment quickly before buyer changes their mind. This is the absolutely safest way to accept a payment as it cannot be recalled at all by the buyer, ever.

    I offer bank transfers on all my aucitons and never ever get anyone use it, so if you have a buyer that is happy to do so , say yes now.

    Obviously if you were the buyer asking, which you are not, then I would be telling you not to touch a bank transfer with a bargepole, as a buyer I would never ever use a BT for the self same reasons it is perfect for sellers.
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected] views are my own and not the official line of MoneySavingExpert.
  • sham63
    sham63 Posts: 1,063
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    No PayPal fees :T

    No chargeback worries :T


    I love it when a buyer asks if they can pay by bank transfer!!

    As you say, your bank details are on cheques anyway (plus the cheque has your signature) and you wouldn't worry about sending a cheque.
  • gingababe
    gingababe Posts: 1,040
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    Thanks for al your help, I just got worried when they offered to pay by BT, I mean can they do anything with my account, ???? will the bank charge me??? Am I sure its safe???

    I know I am rambling don`t know why I am worried.
    Thanks
    Ginga
  • They can't really do anything except pay money in, it won't cost you anything and it's more or less instant! Do you write cheques? Every single detail that the buyer is asking for is on a cheque anyway.
    "Beautiful young people are accidents of nature, But beautiful old people are works of art."
    -- Eleanor Roosevelt
  • gingababe
    gingababe Posts: 1,040
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    I know you are all right, I just worry !!!!
    Thank you all for your help

    Ginga
  • frivolous_fay
    frivolous_fay Posts: 13,302
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    Check out just one fortnight's worth of poeople happy to put their bank details in Private Eye:

    http://www.eyeadvertise.co.uk/?section=classified&catid=13
    My TV is broken! :cry:
    Edit: refunded £515 for TV 1.5 years out of warranty - thank you Sale of Goods Act! :j
  • smartie1976
    smartie1976 Posts: 1,984 Forumite
    A direct debit can be set up actually, with your details.
    As Jeremy Clarkson found to his cost.

    http://news.bbc.co.uk/1/hi/entertainment/7174760.stm
    It's BOUGHT (to Buy), not BROUGHT (to bring) AND you cannot be frauded, only DEfrauded.

    Please do not buy animals from a pet store. Visit your local sanctuary or centre and give a good home to an unloved or abandoned animal.
  • soolin
    soolin Posts: 71,978
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    A direct debit can be set up actually, with your details.
    As Jeremy Clarkson found to his cost.

    http://news.bbc.co.uk/1/hi/entertainment/7174760.stm

    If you read the rest of that saga the bank were happy to refund JC in full, but he decided to let the donation stand.

    Fraudulent DDs are fully covered by the direct debit guarantee.
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected] views are my own and not the official line of MoneySavingExpert.
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