How safe are bank transfers for payment ?

shaz4paul

Ive always used bank transfers. Mostly because I cant wait for money to transfer from paypal, because Im broke and cant pay for the postage!!
One thing I found on one of my last transfers from a buyer, their local natwest branch, where they went to do the transfer, asked them in which town was my bank located... and because they didnt know.... the money didnt clear straight away, it cleared at midnight.
I found this very odd, but the buyer wasent lying because I rung that branch!
Only ever had it once, but was very odd!

mrsw

soolin wrote:

As a seller I love bank transfers, as a buyer I wouldn't touch then with a bargepole.

Although I offer them on all my auctions it is probably used only a couple of times a year on 1000+ auctions.

Soo

Why wouldn't you use them as a buyer?

soolin

mrsw wrote:

Why wouldn't you use them as a buyer?

For buyers bank transfers are the most insecure way of paying. You pay a bank account direct, which means if your items don't turn up you have absolutely no way of reclaiming your loss from the seller. If someone is out to scam then they just take a bank transfer, use a false address in ebay and you can never track them down. Sometimes you can spot the scammers, they hijack an account and then sell a lot of goods very quickly all by bank transfer, they then disappear and you wave goodbye to your money.

For me it is paypal backed by a credit card for every purchase. If a seller doesn't accept paypal then I don't even see their auctions as I browse purely for items where paypal is accepted.

I do still offer bank transfers though, and even with my high all positive feedback no one except for the ocassional newbie will use it.

Soo

doingwhatican

I also like the brank transfer or bank deposit. European users love to pay via bank transfer, and occassionally I have a UK person who has deposited cash into my bank. I just log on line, see the amount deposited and then sent them their item. The really best part is no Paypal Fees.
I too have paid money into a persons bank account when I have bought stuff of ebay. I am in town quite often and if I can save them a few quid by doing it then I will as it is no hassel at al really.

frivolous_fay

I'd be hesitant to tell a buyer which bank I use - what's to stop them paying in a dodgy cheque against my wishes?

doingwhatican

Thats the problem with cheques. If a cashier accepts a cheque then it would at least look valid. What is the difference with being sent a cheque to having one deposited for you?

frivolous_fay

That's not the problem I have... my problem would be if I'd decided not to accept cheques for an item, but armed with my bank details the winner had paid one in to my account anyway.

Not only do you have the added problem of waiting for the wretched thing to clear... plus the chance it would be cancelled... but for all you know your buyer has just nicked someone's chequebook!