Bank Transfer

catgil

I have a buyer that wants to pay me by bank transfer. Can anyone tell me what info I need to give them and if its safe to do so?
Cheers
Kate

mah_jong

As a seller this is the best way to get the dosh! Very safe, I have heard!

Just give them your account and sort code numbers.

Wait for verification from others here........:D

mah

pennylane99

and no Paypal fees....;)

catgil

mah_jong wrote:

As a seller this is the best way to get the dosh! Very safe, I have heard!

Just give them your account and sort code numbers.

Wait for verification from others here........:D

mah

Do you mean the 16 digit card number or the account number?

mah_jong

Its the numbers on your cheques, bank statements etc

sort code is 6 digits often written in pairs .... 99-99-99 and then your account number, I know the last 5 of mine by heart, I think there are 3 numbers in front of it!

meerustar

Thanks for this ... I was just about to post the same question!!

Snooze_Control

Yeah, you'll need to give them :

* The person/company named on your account.
* The account no. (8 digits - usually the digits on the right on the bottom of your cheques in the scan strip)
* The sort code (6 digits - usually the digits to the left of the above)
* The name of the bank/building society.

SC

frivolous_fay

You can do a bank transfer with just sort code and account number.

I'm wary of telling people which bank I'm with as I've heard of people paying in a cheque instead of making a transfer. Very annoying if you don't accept cheques, or don't want to wait for them to clear!

Contains_Mild_Peril

As a seller, it's my preferred method for accepting payment. There's no risk of cheques getting lost in the post or bouncing, and no Paypal fees.

rsykes2000

frivolous_fay wrote:

You can do a bank transfer with just sort code and account number.

I'm wary of telling people which bank I'm with as I've heard of people paying in a cheque instead of making a transfer. Very annoying if you don't accept cheques, or don't want to wait for them to clear!

I normally ask, as I work near all the major banks. If the person isn't using the same bank as me it takes 3 days to clear via online transfer, paying cash over the counter means it 's in there and then.

AndyR_3

frivolous_fay wrote:

You can do a bank transfer with just sort code and account number.

I'm wary of telling people which bank I'm with as I've heard of people paying in a cheque instead of making a transfer. Very annoying if you don't accept cheques, or don't want to wait for them to clear!

They can work out the bank easily from the sort code. If it starts with 09 it's Abbey, if it starts with 20 it's Barclays, 30 is Lloyds, 40 os HSBC/First Direct etc. There are directories telling you which particular bank/branch any sort code belongs to. I think these are online, but if not any bank will have a copy and usually won't mind looking somthing up if asked.