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  • FIRST POST
    • Henry Parry
    • By Henry Parry 10th Mar 17, 4:44 PM
    • 2Posts
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    Henry Parry
    Safe to accept bank transfer payment?
    • #1
    • 10th Mar 17, 4:44 PM
    Safe to accept bank transfer payment? 10th Mar 17 at 4:44 PM
    Okay so I've listed something to gumtree and someone's asked to purchase it but they live in London. I don't have Paypal and I let them know this, they've offered to pay via bank transfer. The value of the item is £135.

    I'd like to know if this is safe for me to receive? Is there any way they could charge back? How can I be sure that the payment they've sent me is definitely a bank transfer and not a credit card payment or similar which can be charged back?

    Apologies if this is the wrong forum.
Page 1
    • Hasbeen
    • By Hasbeen 10th Mar 17, 5:18 PM
    • 886 Posts
    • 644 Thanks
    Hasbeen
    • #2
    • 10th Mar 17, 5:18 PM
    • #2
    • 10th Mar 17, 5:18 PM
    Gumtree is meant to be face to face for cash.

    But bank transfer is safe, wait until money is in your account before parting with item.
    • soolin
    • By soolin 10th Mar 17, 5:27 PM
    • 58,868 Posts
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    soolin
    • #3
    • 10th Mar 17, 5:27 PM
    • #3
    • 10th Mar 17, 5:27 PM
    Bank transfers are safe but always wait to post until the working day after receiving payment. if you are not clear when you check your bank statement online whether payment was sent as a bank transfer (and in reality most banks show this clearly) then phone your bank and check.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I'm a volunteer to help the boards run smoothly, and I can move posts there. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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    • paulc333
    • By paulc333 10th Mar 17, 6:15 PM
    • 188 Posts
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    paulc333
    • #4
    • 10th Mar 17, 6:15 PM
    • #4
    • 10th Mar 17, 6:15 PM
    Whilst I agree that bank transfer should be safe i'd also be asking myself a couple of questions.

    Is the item you are selling rare or unique in some way?
    Is it not possible for the buyer to get one nearer them for the same price?

    In short why are they willing to go more than the norm to get your item?

    If it's a unique or different item then fine,

    if not it would still worry me, even with bank transfer
    • Henry Parry
    • By Henry Parry 10th Mar 17, 6:53 PM
    • 2 Posts
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    Henry Parry
    • #5
    • 10th Mar 17, 6:53 PM
    • #5
    • 10th Mar 17, 6:53 PM
    Gumtree is meant to be face to face for cash.

    But bank transfer is safe, wait until money is in your account before parting with item.
    Originally posted by Hasbeen
    Bank transfers are safe but always wait to post until the working day after receiving payment. if you are not clear when you check your bank statement online whether payment was sent as a bank transfer (and in reality most banks show this clearly) then phone your bank and check.
    Originally posted by soolin
    Thanks guys. I phoned my bank and checked that the money had gone through (it was FPI) and asked whether it was safe for me to send, to which they replied that it was. I won't be dispatching it until Monday and it's being sent insured/tracked. I'll also be phoning my bank again for further confirmation on Monday before sending. Checked the guy out on Facebook and he has lots of religious posts which gives me further reason to believe that all is well.

    Whilst I agree that bank transfer should be safe i'd also be asking myself a couple of questions.

    Is the item you are selling rare or unique in some way?
    Is it not possible for the buyer to get one nearer them for the same price?

    In short why are they willing to go more than the norm to get your item?

    If it's a unique or different item then fine,

    if not it would still worry me, even with bank transfer
    Originally posted by paulc333
    The item isn't unique, but I listed it at a decent price.

    If I were to sell it on eBay I'd expect around £160, I listed it for £135 which is what I'd expect to get out of it after paying eBay/Paypal fees and postage. He was happy to pay postage on top of that though. I think the retail of what I'm selling is about the £200 mark.

    Thanks everyone for your input.
    Last edited by Henry Parry; 10-03-2017 at 6:56 PM.
    • theonlywayisup
    • By theonlywayisup 10th Mar 17, 7:53 PM
    • 10,590 Posts
    • 7,108 Thanks
    theonlywayisup
    • #6
    • 10th Mar 17, 7:53 PM
    • #6
    • 10th Mar 17, 7:53 PM
    Thanks guys. I phoned my bank and checked that the money had gone through (it was FPI) and asked whether it was safe for me to send, to which they replied that it was. I won't be dispatching it until Monday and it's being sent insured/tracked. I'll also be phoning my bank again for further confirmation on Monday before sending. Checked the guy out on Facebook and he has lots of religious posts which gives me further reason to believe that all is well.



    The item isn't unique, but I listed it at a decent price.

    If I were to sell it on eBay I'd expect around £160, I listed it for £135 which is what I'd expect to get out of it after paying eBay/Paypal fees and postage. He was happy to pay postage on top of that though. I think the retail of what I'm selling is about the £200 mark.

    Thanks everyone for your input.
    Originally posted by Henry Parry
    "But they live in London" - is that relevant? You haven't said where you live in relation to London.

    Religious posts on FB? How is that reason to believe all is well?
    • forgotmyname
    • By forgotmyname 11th Mar 17, 1:21 AM
    • 25,292 Posts
    • 10,036 Thanks
    forgotmyname
    • #7
    • 11th Mar 17, 1:21 AM
    • #7
    • 11th Mar 17, 1:21 AM
    Lots of religious posts.. A massive warning to me.

    All the Nigerian scam emails are all religious and trusting and did i mention religious? Because they often mention it several times as they try to extract money from you.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • LadyDee
    • By LadyDee 11th Mar 17, 1:39 PM
    • 2,332 Posts
    • 2,444 Thanks
    LadyDee
    • #8
    • 11th Mar 17, 1:39 PM
    • #8
    • 11th Mar 17, 1:39 PM
    Accepting bank transfer is safe for you as the seller. I would never pay by bank transfer if I was buying anything from a stranger as there is virtually no way to get my money back if things go wrong.
    • Silvertabby
    • By Silvertabby 11th Mar 17, 2:02 PM
    • 1,258 Posts
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    Silvertabby
    • #9
    • 11th Mar 17, 2:02 PM
    • #9
    • 11th Mar 17, 2:02 PM
    £135? Beware of receiving £1,350 and then an e-mail from your customer saying 'whoops - hit an extra digit - please refund the extra £1,215 immediately or I'll not be able to feed my kids this weekend'............ Then the full £1,350 is pulled back from your account.

    I know not all people are crooks, but it's a sad reflection of the times we live in that we have to be so aware of possible scams.
    • glentoran99
    • By glentoran99 11th Mar 17, 2:05 PM
    • 4,394 Posts
    • 3,241 Thanks
    glentoran99
    £135? Beware of receiving £1,350 and then an e-mail from your customer saying 'whoops - hit an extra digit - please refund the extra £1,215 immediately or I'll not be able to feed my kids this weekend'............ Then the full £1,350 is pulled back from your account.

    I know not all people are crooks, but it's a sad reflection of the times we live in that we have to be so aware of possible scams.
    Originally posted by Silvertabby
    on what basis?
    • soolin
    • By soolin 11th Mar 17, 2:29 PM
    • 58,868 Posts
    • 41,696 Thanks
    soolin
    £135? Beware of receiving £1,350 and then an e-mail from your customer saying 'whoops - hit an extra digit - please refund the extra £1,215 immediately or I'll not be able to feed my kids this weekend'............ Then the full £1,350 is pulled back from your account.

    I know not all people are crooks, but it's a sad reflection of the times we live in that we have to be so aware of possible scams.
    Originally posted by Silvertabby
    As per Glentoran this scam no longer works as a bank transfer is safe. If seller received too much it can't be withdrawn purely on the say so of the sender.

    This used to be a cheque based scam before the 2 4 6 system in that a cheque payer would deposit too much into a recipient's account and ask for the over payment back, and then of course the whole lot would bounce later. With the 2 4 6 system even this no longer works.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I'm a volunteer to help the boards run smoothly, and I can move posts there. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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    • Silvertabby
    • By Silvertabby 11th Mar 17, 9:49 PM
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    Silvertabby
    Well, I'm happy to stand corrected !
    • martindow
    • By martindow 12th Mar 17, 11:50 AM
    • 7,077 Posts
    • 3,907 Thanks
    martindow
    The scam would still work with a foreign cheque. If a generous Nigerian prince sent a large sum of money and asked for some change. I'm not sure if you can tell that a foreign cheque has ever cleared.
    • soolin
    • By soolin 12th Mar 17, 1:49 PM
    • 58,868 Posts
    • 41,696 Thanks
    soolin
    The scam would still work with a foreign cheque. If a generous Nigerian prince sent a large sum of money and asked for some change. I'm not sure if you can tell that a foreign cheque has ever cleared.
    Originally posted by martindow
    That's true, foreign cheques take an age to clear for fraud so they are best not accepted unless you know the recipient.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I'm a volunteer to help the boards run smoothly, and I can move posts there. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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    • jonesMUFCforever
    • By jonesMUFCforever 12th Mar 17, 2:32 PM
    • 23,829 Posts
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    jonesMUFCforever
    The scam would still work if the account the money has been sent from was hacked or fraudulent.
    In this instance the OP's bank might block his account and ask for proof of source of funds if this happened.
    In today's banking world it would seem that you are guilty until proven innocent so take care.
    What goes around - comes around
    give lots and you will always receive lots
    • soolin
    • By soolin 12th Mar 17, 3:34 PM
    • 58,868 Posts
    • 41,696 Thanks
    soolin
    The scam would still work if the account the money has been sent from was hacked or fraudulent.
    In this instance the OP's bank might block his account and ask for proof of source of funds if this happened.
    In today's banking world it would seem that you are guilty until proven innocent so take care.
    Originally posted by jonesMUFCforever
    Not for a UK High Street bank where the 2 4 6 rules apply. Working day 6 - the cheque clears absolutely for fraud.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I'm a volunteer to help the boards run smoothly, and I can move posts there. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
    New to Forum? Guide
    • jonesMUFCforever
    • By jonesMUFCforever 12th Mar 17, 6:49 PM
    • 23,829 Posts
    • 11,032 Thanks
    jonesMUFCforever
    Not for a UK High Street bank where the 2 4 6 rules apply. Working day 6 - the cheque clears absolutely for fraud.
    Originally posted by soolin
    Not when it is fraud.
    What goes around - comes around
    give lots and you will always receive lots
    • shaun from Africa
    • By shaun from Africa 12th Mar 17, 6:56 PM
    • 9,284 Posts
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    shaun from Africa
    Not for a UK High Street bank where the 2 4 6 rules apply. Working day 6 - the cheque clears absolutely for fraud.
    Originally posted by soolin
    Not when it is fraud.
    Originally posted by jonesMUFCforever

    The only time that fraud matters is if the person receiving the payment from the cheque was aware or suspected that it was fraudulent.
    If the cheque was forged, stolen or written without the account holder's knowledge and this is discovered more than 6 working days from when it was presented, it is the bank that takes the loss and not the payee.
    • soolin
    • By soolin 12th Mar 17, 7:07 PM
    • 58,868 Posts
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    soolin
    Not when it is fraud.
    Originally posted by jonesMUFCforever
    The terminology is fraud , if you mean that the recipient was in on it then yes, it is as Shaun from Africa says.

    However, if the recipient was not part of the fraud then they are safe on working day 6 :

    https://www.chequeandcredit.co.uk/information-hub/faqs/2-4-6-cheque-clearing-timescales

    What happens if a cheque is found to be fraudulent after the end of the sixth working day after I have paid in my cheque?
    You are protected and can keep the funds from the cheque provided you are not a knowing party to fraud. If there is a dispute, each case would be looked at on an individual basis, and you can seek redress through your bank or building society's own formal complaints procedure. Under BCOBS (the Banking Conduct of Business Sourcebook) all banks and building societies are obliged to tell their customers how to go about this. Failing satisfactory resolution, you can refer your complaint to an independent assessment by the Financial Ombudsman Service.
    I'm the Board Guide for the Ebay Board , Charities Board , Dosh & Disability , Up Your Income and the Local MoneySaving-England board which means I'm a volunteer to help the boards run smoothly, and I can move posts there. However, do remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com
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    • john2054
    • By john2054 2nd Apr 17, 9:41 PM
    • 163 Posts
    • 29 Thanks
    john2054
    I wouldn't because the buyer can still ask for a refund. Whether the bank would grant this however, i don't know.
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