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dangers of giving bank details to buyers?
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# 1
pedigreeblu
Old 02-12-2004, 9:24 PM
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Default dangers of giving bank details to buyers?

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???
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# 2
stavros
Old 02-12-2004, 9:52 PM
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Default Re: dangers of giving bank details to buyers?

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!
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# 3
Hintza
Old 02-12-2004, 10:31 PM
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Default Re: dangers of giving bank details to buyers?

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

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# 4
angelcake
Old 03-12-2004, 1:12 PM
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Default Re: dangers of giving bank details to buyers?

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.

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# 5
payless
Old 03-12-2004, 1:21 PM
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Default Re: dangers of giving bank details to buyers?

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 ?

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# 6
Hintza
Old 03-12-2004, 3:29 PM
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Default Re: dangers of giving bank details to buyers?

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).
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# 7
Jonni2bad
Old 04-12-2004, 2:24 PM
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Default Re: dangers of giving bank details to buyers?

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.
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# 8
fantasia
Old 04-12-2004, 4:12 PM
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Default Re: dangers of giving bank details to buyers?

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.
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# 9
Hintza
Old 04-12-2004, 4:16 PM
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Default Re: dangers of giving bank details to buyers?

Quote:

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
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# 10
Ferris
Old 08-12-2004, 4:23 AM
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Default Re: dangers of giving bank details to buyers?

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)?
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# 11
soolin
Old 08-12-2004, 9:41 AM
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Default Re: dangers of giving bank details to buyers?

Quote:
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
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# 12
Hintza
Old 08-12-2004, 12:09 PM
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Default Re: dangers of giving bank details to buyers?

Well with Barclays you get the option of puting in a ref name/number. You could ask seller to input the Ebay nimber or their user id.
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# 13
kilo
Old 09-12-2004, 2:31 AM
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Default Re: dangers of giving bank details to buyers?

For sellers who are still fearful of giving their account details, it might be worth opening a second account with your bank (typically a basic one). You can then run this account empty but receive payments through this and then transfer the payment to your current account online.
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# 14
Rhino666
Old 09-12-2004, 5:35 PM
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Default Re: dangers of giving bank details to buyers?

There is nothing wrong with giving out basic bank details ie. sortcode, account number and account name.
A cheque has the same information and more + your signature on it.

Ebay obviously don't encourage this because it sidesteps fees to paypal, which is owned by them. In my Ebay dealings I have come across a number of sellers who are reticent about using this method of payment which can be a little irritating if they don't take paypal, if a quick transaction is required. Posting cheques is a pain and the kind of ebayer who is not flexible enough to take a direct payment to their bank account may well wait the required time for my cheque to clear before posting out goods.

As a previous poster has already said this is a free risk free method of transferring money and the sooner people become enlightened about this the better.
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# 15
soolin
Old 09-12-2004, 6:51 PM
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Default Re: dangers of giving bank details to buyers?

Quote:
For sellers who are still fearful of giving their account details, it might be worth opening a second account with your bank (typically a basic one). You can then run this account empty but receive payments through this and then transfer the payment to your current account online.
kilo, there is no need for all this opening other accounts and stuff. I am happy for anyone to have my bank sort code and account number, like rhino says this is a perfectly safe way for a seller to receive payment. After all, what can a buyer do apart from willfully pay money *into* your account If having your sort code and account number available was a danger then surely they would have stopped us using cheques where this information is clearly shown, ages ago?

personally I like bank transfers where someone is reluctant to use paypal (I prefer paypal). I hate cheques with a passion. I *still* have an outtanding matter with a cheque in my account which has been going on now for over 6 weeks.

Soo


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# 16
MarkyMarkD
Old 10-12-2004, 12:15 AM
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Default Re: dangers of giving bank details to buyers?

Quote:
There is nothing wrong with giving out basic bank details ie. sortcode, account number and account name.
A cheque has the same information and more + your signature on it.

Ebay obviously don't encourage this because it sidesteps fees to paypal, which is owned by them. !In my Ebay dealings I have come across a number of sellers who are reticent about using this method of payment which can be a little irritating if they don't take paypal, if a quick transaction is required. !Posting cheques is a pain and the kind of ebayer who is not flexible enough to take a direct payment to their bank account may well wait the required time for my cheque to clear before posting out goods.

As a previous poster has already said this is a free risk free method of transferring money and the sooner people become enlightened about this the better. !
Oooh, all the conspiracy theory.

Obviously ebay encourage paypal because they own the business. But paypal also has some accountability and security for the buyer.

If you pay by direct bank transfer there is NOTHING to stop the recipient stealing your money and failing to deliver. OK you can give them bad feedback - big wow. But actually getting the money back will be murder compared to getting it back from paypal IMHO.
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# 17
bleughbleugh
Old 10-12-2004, 3:31 PM
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Default Re: dangers of giving bank details to buyers?

no dangers at all really

cheques have all your details (and signature for them to copy) anyway!

just plain account number and sort code and name are safe as houses

www.paypalwarning.com
www.paypalsucks.com
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# 18
veronarona
Old 10-12-2004, 7:26 PM
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Default !Re: dangers of giving bank details to buyer

Quote:

But paypal also has some accountability and security for the buyer.
Not unless the seller deigns to allow his PayPal account to be verified.

Generally, Bank Transfer is better than a cheque for the seller, carries the same risks as a cheque for the buyer, and is tons more convenient for both.

If eBayers are equipped to use eBay, then they are equipped to use online banking, what the hell's the matter with some of them?! They're confusing debit/credit card details with bank account details.

I'm fed up with sellers responding "I don't give my bank details out over the internet" and refusing to check with their bank before turning me down.

Rant-rant-rant!

veronarona
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# 19
welnik
Old 13-12-2004, 12:16 AM
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Default Re: dangers of giving bank details to buyers?

"But paypal also has some accountability and security for the buyer" Have to disagree with this. If a buyer uses a stolen credit card and you despatch the goods the same day. Its a couple of days before you get to find out and basically PAYPAL deducts the money back from you and washes its hands of the matter. No seller protection whatsoever!
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# 20
Jonni2bad
Old 17-12-2004, 9:09 PM
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Default Re: dangers of giving bank details to buyers?

Quote:
PAYPAL deducts the money back from you and washes its hands of the matter. No seller protection whatsoever!
Try Nochex - a British institution that operates in a similar way to PayPal, BUT they do not have chargebacks against the seller AND it's less expensive at 2.6% +20p - I think PayPal charge 3.4% ?? AND (do you need any more ANDs?) they transfer cash back to you in 3 - 4 working days, unlike PayPal's 7-9 days

enough, enough, enough......

I LOVE BANK TRANSFERS!!!
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