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How safe is a bank transfer?
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# 1
gingababe
Old 24-02-2008, 9:47 AM
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Default 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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# 2
Browntoa
Old 24-02-2008, 10:03 AM
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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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# 3
twistedeagle
Old 24-02-2008, 10:09 AM
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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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# 4
soolin
Old 24-02-2008, 10:16 AM
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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.
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# 5
sham63
Old 24-02-2008, 11:29 AM
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No PayPal fees

No chargeback worries


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.
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# 6
gingababe
Old 24-02-2008, 4:14 PM
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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
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# 7
eyelinerprincess
Old 24-02-2008, 7:35 PM
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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.
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# 8
gingababe
Old 24-02-2008, 8:03 PM
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I know you are all right, I just worry !!!!
Thank you all for your help

Ginga
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# 9
frivolous_fay
Old 24-02-2008, 8:14 PM
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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/?secti...ified&catid=13
My TV is broken!
Edit: refunded 515 for TV 1.5 years out of warranty - thank you Sale of Goods Act!
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# 10
smartie1976
Old 25-02-2008, 9:30 AM
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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
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.
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# 11
soolin
Old 25-02-2008, 9:42 AM
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Quote:
Originally Posted by smartie1976 View Post
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.
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# 12
pdel61
Old 25-02-2008, 12:24 PM
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Quote:
Originally Posted by smartie1976 View Post
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
In which case cheques are even worse as not only do they contain all your details but they have your signature as well.
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# 13
smartie1976
Old 25-02-2008, 2:12 PM
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I'm simply pointing out it is possible for fraudulent action to be taken, whether covered by the DD guarantee or not, which is then a hassle to sort out.
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.
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# 14
f1re_cr4cker
Old 25-02-2008, 2:16 PM
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personally i never use cheques or bank transfer for ebay- paypal only or cash on collection!!!
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# 15
frivolous_fay
Old 25-02-2008, 2:45 PM
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Quote:
Originally Posted by f1re_cr4cker View Post
personally i never use cheques or bank transfer for ebay- paypal only or cash on collection!!!
Seems strange that you'd accept a medium risk payment method, and refuse one of the safest of all
My TV is broken!
Edit: refunded 515 for TV 1.5 years out of warranty - thank you Sale of Goods Act!
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# 16
gingababe
Old 25-02-2008, 2:47 PM
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Another query, they have paid it is showing on my account, but the amount has been rounded up by 70p, what shall I do now???
Thanks

Ginga
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# 17
soolin
Old 25-02-2008, 4:22 PM
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Ask them if they have paid extra for recorded delivery.
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# 18
gingababe
Old 25-02-2008, 6:15 PM
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It was being sent first class recorded anyway that was on the listing.
Thanks
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# 19
golddustmedia
Old 26-02-2008, 2:17 PM
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Quote:
Originally Posted by gingababe View Post
asked if they can do a bank transfer, they need my sort code & account number!
How safe is this?
It's absolutely bullet proof!

Safe, reliable and fast. Should take about 3 days and is then totally reliable. Grab the payment and bask in the glory that you're not paying paypal 3.5% for the privelidge of taking payment!
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# 20
golddustmedia
Old 26-02-2008, 2:19 PM
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Quote:
Originally Posted by gingababe View Post
Another query, they have paid it is showing on my account, but the amount has been rounded up by 70p, what shall I do now???
Thanks

Ginga
how about keep quiet? You've been paid extra AND saved on paypal fees and nobody has complained about it. That's the way ebaying SHOULD be done, enjoy it!

If they buyer is happy you should be too!
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