dangers of giving bank details to buyers?

pedigreeblu
pedigreeblu Posts: 61 Forumite
in Ebay, auctions, car boot sales, post & parcels
ive recently started selling on ebay, everything has gone very smoothly with people paying either with cheques, cash or usually paypal, but i have had one lady who demands my bank details, ie account number and sort code, so she can deposit the money she owes me in her bank , i asked my bank and they said i should be careful, so i wont give her the details. am i being unreasonable, i realise that the details she needs would be on one of my cheques, what are the dangers???
Titch :)
«13

Comments

  • stavros_2
    stavros_2 Posts: 772 Forumite
    First Post First Anniversary Combo Breaker
    What methods have you put in your listing for payments?? If I were you I would just tell them they have to pay by what's specified there! It's up to them to read the auction properly and you've done nothing wrong....stand your ground! :)
  • Hintza
    Hintza Posts: 19,420 Forumite
    First Post Combo Breaker
    Do not be alarmed by this all the details you give out are the same as those on a cheque.

    I offer a discount to encourage buyers to pay me this way to avoid the high PayPal charges and the hassle of Cheques.

    This is the best, easiest and safest way to receive money for Ebay sales.

    Leaves the buyer at a disadvantage a little bit though. Once you have the money it is yours can not be reversed or cheques cancelled.

    GO FOR IT
  • angelcake
    angelcake Posts: 4,496 Forumite
    How does this work? Do the buyers physically go into your bank and write out a payment slip etc...sorry to be dumb but I can relate to OP's anxiety over this!

    OP - I would stick to your auction methods tell her to send a cheque or cash in a recorded, until you are more confident on other methods.
    :p:p Angel :p:p
  • payless
    payless Posts: 6,957 Forumite
    Name Dropper Combo Breaker First Post First Anniversary
    some pay in bank with a slip, most via their online banking

    I find it can sometimes be instant ( if they use same bank) or 2/3 working days

    I prefer this method - cheaper and safer ( for seller) than chewue or paypal - OK they know your bank details , but is that just a big thing ?
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • Hintza
    Hintza Posts: 19,420 Forumite
    First Post Combo Breaker
    Mostly online.

    But best otherway is for them to go into their local branch of your bank and pay it in over the counter. Will result in an instant credit assuming cash.

    There is nothing to worry about in this form of accepting payment.

    I strongly feel too many people have such a long list of DO' and DON'ts on EBay the more welcoming and easier you make it to trade the more success you will have. The scamsters are few and far between (fingers crossed).
  • Jonni2bad
    Jonni2bad Posts: 562 Forumite
    HSBC told me there is no harm in giving out your sort code and acc number, as it is of no use to someone trying to take money OUT of your account.

    I push this method of payment very hard in my eBay sales, as it saves an enourmous amount of time and trouble, and is cost free to both buyer and seller (although I don't go as far as giving a discount).

    You won't find eBay promoting it though, because they have a vested interest in you using PayPal, the world's biggest rip-off!! I use NOCHEX for card payments, much better than PayPal, far cheaper and money is transferred back to your account quicker.
  • fantasia_2
    fantasia_2 Posts: 123 Forumite
    I paid someone for a playstation from my account to theirs via bank transfer. They have not replied since payment went through & their phone number is now disconnected. Police say it is a civil matter and wont do a thing - they said it's best for me to send a solicitors letter (which will probably cost more than the PS2).

    Safe ? very safe for the seller.
  • Hintza
    Hintza Posts: 19,420 Forumite
    First Post Combo Breaker

    Leaves the buyer at a disadvantage a little bit though.  Once you have the money it is yours can  not be reversed or cheques cancelled.

    GO FOR IT

    I did point this out in the above message
  • Ferris
    Ferris Posts: 471 Forumite
    if you are selling more than one thing at a given price, is there any way a particular buyer can be identified on your bank statement if they pay directly into your account (or via online banking)?
  • soolin
    soolin Posts: 72,193 Ambassador
    Photogenic Name Dropper First Post First Anniversary
    if you are selling more than one thing at a given price, is there any way a particular buyer can be identified on your bank statement if they pay directly into your account (or via online banking)?

    Some banks allow a short identifiable code to be used, a surname maybe. However many don't so if you have a lot of things ending at the same price then direct bank transfers can be confusing.

    Soo
    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 forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
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