Bank Transfer as Payment

ianandjody

Good Morning all,

I have just sold an item on ebay last night for £130, I have bought and sold before but have never encountered this request.

The winning bidder wants to pay by bank transfer, he is asking for my bank details, just acc number and sort code, he owuld also like them texted to him to make the transfer.

Not sure but i just don't feel 100% happy with this at the moment. any of you have good advice either way for me?

This is his feedback he has used it for a while, the 1 negative im a little unsure of but it was a while ago and he has been buying expensive cars?

http://feedback.ebay.co.uk/ws/eBayISAPI.dll?ViewFeedback&userid=abuu100

Any thoughts woudl be appreciated

Ian

wigginsmum

I've accepted bank transfer before as payment, with no problems. But if you're unhappy with this and didn't offer bank transfer as a payment option, simply tell him he must use one of your specfied payment options.

Jules

pug_in_a_bed

You're only gving out the exact information which is on every cheque you issue, and by paying by bank transfer, you lose the threat of the dreaded paypal chargeback!

Jules is right though, if it wasn't one of your options, then don't be bulllied into it.

innovate

I would go for it, it is safer than taking a cheque, and you don't have to pay any Paypal charges either.

Hintza

This is the best form of payment for a seller. No chargebacks etc. The only thing to tell them is it can take 2-4 days to clear and you will post when the money is in your account.


This as a sellers dream....and poor for the buyer.

I offer a discount for bank transfer!!

impecunious

I totally agree with Hintza! Bank transfer is completely 100% secure - you both have a record of the transaction and, unlike Paypal, no one can do a chargeback. And best of all, of course, no one incurs any extra fees: Paypal charges, postage for sending cheques etc....

So why does hardly anyone accept this as a form of payment then? I accept it when I sell but I have asked countless times when i've bought and I have only been able to do it the once. I always get a suspicious feeling from the sellers that I'm somehow trying to delve into their bank accounts and syphon all their money away. Is it just the post-paranoia after the ID Fraud campaign????

soolin

impecunious wrote:

So why does hardly anyone accept this as a form of payment then? I accept it when I sell but I have asked countless times when i've bought and I have only been able to do it the once. I always get a suspicious feeling from the sellers that I'm somehow trying to delve into their bank accounts and syphon all their money away. Is it just the post-paranoia after the ID Fraud campaign????

You'll find most sellers are happy with this as a payment method, but few buyers are happy to use it as they get no cover whatsoever if the transaction goes wrong.

My end of auction emails contain all my bank details but I can't remember the last time anyone asked to use it, 95% of my buyers use paypal.

Soo

Voyager2002

soolin wrote:

You'll find most sellers are happy with this as a payment method, but few buyers are happy to use it as they get no cover whatsoever if the transaction goes wrong.
Soo

As a buyer I usually offer to pay by bank transfer. Very few sellers accept it! I can only assume that the bank details involved would enable someone to set up a phony direct debit. The way round this, of course, is to use a savings account to receive payments (since you can't do a direct debit from a savings account). How strange that most sellers prefer to pay fees to paypal rather than doing this.

richto

Direct debits are fully guranteed - if they are wrongly deducted the bank has to refund in full.

golddustmedia

ianandjody wrote:

Not sure but i just don't feel 100% happy with this at the moment.

For you as the seller bank transfer is ironically the SAFEST payment you could get!
Letting someone know your bank account number is risk free as they cannot do anything with it. Better still, if you tell him which bank you're with he may even go into a branch and pay cash over the counter which would be instant and you could post straight away.

I do understand your hesitancy, to overcome this you could consider giving the details of a savings account or one which you feel minimises risk. For example I normally use my ISA account since the money makes is better off in there for savings and it has a 45 day wait to withdraw so I remain confident it's safe.

But I would say, go for it. No paypal fees, could be instant and 100% safe.

bleugh

Bank transfer is 100% safe!, I use it all the time

do be slightly cautious though, only post when showing as cleared funds, if its pending, it can be bounced