ASKING for my bank details

coupon_king_2

Hi all , just sold an item on email and have received a message from him requesting my BANK,ACCOUNT NUMBER & SORT CODE so he says he can pay the money straight into my bank account ..... with so many scammers out there does anyone know is this another method they are now trying to get my details ....( i also have had LOADS of different spoof mail )......... I sent a rather abrupt reply REFUSING his request ......... Cheers !

soolin

Bank transfers are a handy way of taking payment, depending on the banks involved this can take from 0-4 days.

There is no problem giving out your bank acocunt number and sort code, haven't you looked at one of your cheques recently? That's exactly the information shown on there.

No other information is need though for a transfer, just sort code, 8 digit bank account number and name on account (exactly as on a cheque) then any high street or online bank can make a direct payment into that account. It is safe as it cannot be recalled, nor can anyone use that information to take anything from your account.

Soo

quoia

I have used this quite a few times "on both sides" of the deal, as a buyer and seller, making and receiving payments.

As pointed out by soolin, it is no different to handing over a cheque to somebody where you would be buying something.
The cheque has the name of the bank and the specific branch location details on it, as well as the branch sort-code, account number and account name.

I did ask about giving out these details at a branch of NatWest (my bank) only last week.
It was suggested that perhaps you shouldn't "advertise" these details to all and sundry (eg. put them on a website etc..) but that without further information (your date of birth, mother's maiden name etc.) there was NOT a security issue in doing so. As was pointed out, everytime you write a cheque you give out exactly this information.

If I receive a payment like this (usually to speed up the transaction - no postal delay and POTENTIALLY no "clearing time"), I request the following.

They should go into a branch of a NatWest bank AND pay CASH over the counter into my NatWest account.
The reason for this is that it is all but INSTANT.
With the NatWest, their desposit appears within a few minutes of it being made.

If they pay a cheque into your account IT STILL HAS TO CLEAR - just the same as if you had received it and paid it in yourself. (Usually doesn't appear on the account until the following day - i.e. after midnight - but can still be "withdrawn" if the cheque "bounces")

They could use the same details to do an ACCOUNT TRANSFER from another bank chain other than your own (eg. Barclays to NatWest - via internet banking or in a branch) but this usually does not save any time. It may take 3 to 5 working days before our account is credited with the payment.

EvilMonkey

Just echoing the previous 2 guys, I checked with my bank on this issue and its 100% safe (and as the other chaps said, its written on your cheques!)

I even given the international versions of the A/C number and sort code out under the assurance from the bank that again, they're 100% safe....

Hintza

Yep agree with the others.

I will offer a discount as well and save your PayPal fees or messing about with getting a cheque to the bank..

This will be the way forward for domestic sales hoefully in the near future.

EvilMonkey

Its actually a bit annoying when people refuse it as they think its dodgy.

For those with internet or phone accounts its SO easy and free too!

bleughbleugh

I'm a powerseller on ebay and use bank transfers all the time!

coupon_king_2

MANY THANKS ALL..... am wiser now if someone offers this method of payment in the future !!