Query regarding bank transfer

Awec

Have sold an item to someone (though not on ebay but I recon I'll get a good answer here anyway) and they have requested to pay via bank transfer. I have never used a BT before and have no idea how they work.

What details do I need to give?
How long does it take from him sending to me getting?
Does the bank charge?
What sort of security do I get here?

Thanks in advance.

Smart_But_Casual

Awec wrote: »

Have sold an item to someone (though not on ebay but I recon I'll get a good answer here anyway) and they have requested to pay via bank transfer. I have never used a BT before and have no idea how they work.

What details do I need to give?
How long does it take from him sending to me getting?
Does the bank charge?
What sort of security do I get here?

Thanks in advance.

UK = Acc No and Sort

RoW = IBAN and Swift.

Take a day or so UK and up to 5 days RoW and it's free to receive.

Security isn't an issue.

asset2004

Ban transfer is the way to go.
Fast clearing and the best bit is no paypal fees!!

NotQuiteNorbert

julie_dennis wrote: »

I have sent payments several times in the UK, be aware that it takes several days to a different bank account, less for if you send to the same account. Hope this helps

A lot of banks now use Faster Payments, cutting transfer times down to a matter of hours (maximum) rather than days.

To find out which banks are sending and receiving Faster Payments, you can check on http://www.apacs.org.uk/sortcodechecker/index.html There's a sortcode checker on there, plus further down the page there are lists of which institutions are sending and receiving. Last update was December though, so may have changed slightly, but shouldn't have changed much.