should I accept a bank transfer a spayment method?

tillybilly_2

Hi all, I have been ebaying for some time now and never really had and issues. Today I was asked if i woul daccept bank transfer as payment for an item as the buyer has no paypal account set up yet and does not want to send a cheque n case th eitem gets lost. I have never coe across this before,obviously I hae used bak transfers myself for sending money to friends and famiy etc but am not sure how safe it would be to send details to a stranger....does anyone else accept this method of payment?
Thanks n advance
T.

soolin

Bite their hand off before they change their mind! All they need is your sort code and account number.

When payment arrives in your bank leave it to clear to close of business and then send item next day, the payment cannot be recalled for any reason so it is the safest payment method for a seller.

I offer bankt ransfers on all my auctions and have not had it used now for years and years.

windra

Be careful giving away your bank acount details, its not hard to set up a paypal acount (5mins) it sounds very suspect to me.

You should point out to the buyer that there is such a thing as 'recorded delivery' and that it is perfectly safe to send a cheque or postal order.

Paying by cheque and bank transfer has the same risk if an item is lost in the post...the person is obviously trying to find an excuse.

soolin

windra wrote: »

Be careful giving away your bank acount details, its not hard to set up a paypal acount (5mins) it sounds very suspect to me.

You should point out to the buyer that there is such a thing as 'recorded delivery' and that it is perfectly safe to send a cheque or postal order.

Paying by cheque and bank transfer has the same risk if an item is lost in the post...the person is obviously trying to find an excuse.

I assume therefore that you never use cheques then? All the OP has to send the buyer is his bank account number and sort code, whereas if you use cheques the person you give the cheque to has all that info plus the bank name plus a copy of your signature.

It is impossible to set up and use a paypal account with just a bank account and sort code number, yes there are scams out there but it is a good idea to know how things work rather than panic about things that can't happen.

frivolous_fay

Item lost in post isn't relevant here. The buyer obviously wants to know the payment will get there fast, and NOT get lost. In my office, recorded delivery stickers are known as 'Please steal me' stickers!

By paying with bank transfer, the risk is entirely the buyer's. The chances of them being a fraudster is remote.

Hintza

I used to offer 4% discount for bank transfers.....ah those were the days!!!

Windra you are just scaremongering.

justpaper

windra wrote: »

Be careful giving away your bank acount details, its not hard to set up a paypal acount (5mins) it sounds very suspect to me.

very wrong to say, do you work for paypal?

bank transfer payment are secure, like Hintza, I use to offer cheaper postage if payment was paid via bank transfer, for 135£ paypal take 6£ odd, :mad:

lightisfading

soolin wrote: »

whereas if you use cheques the person you give the cheque to has all that info plus the bank name plus a copy of your signature.

the bank name? the sort code is the bank name/branch in numerical format :P not that i'm disagreeing with you, after working in a bank i completely distrust cheques myself

frivolous_fay

lightisfading wrote: »

the bank name?

On direct debit forms IIRC you're generally expected to write in the bank branch details and address.

ArmitageShanks

Anyone who advocates paypal over BACS, must either work for paypal or have the misfortune of been brainwashed by them and ebay.

Worth remember cross bank transfers from HSBC and Barclays go through instantly any time of the day.

soolin

lightisfading wrote: »

the bank name? the sort code is the bank name/branch in numerical format :P not that i'm disagreeing with you, after working in a bank i completely distrust cheques myself

I was being a little pedantic. My cheques show the name of the bank 'First Direct' and the address..as well as sort code and account number and a copy of my signature.