Bank Transfer - Safe???

rabbit_burrow

I thought he was saying about paying into a bank not a transfer (not the Op, the responder I mean). The words 'paying in slip' gave it away, you don't use paying in slips for bank transfers (or at least, not when I was working in the bank). It would be instant that way.
I have never heard of anyone charging back the bank transfer, but like someone said, leave it for 24 hours just incase.
If the buyer could pay directly into your bank rather than doing a transfer, then there would be no possibility of a charge back.

Infidel

Is a bank transfer the same as a banks draft? I was wondering as a further point, if i wanted to pay someone via bank transfer/draft is this a free service? As if so i just wonder why people even bother sending cheques, which aside from taking ages to clear, are not even guaranteed to get to their destination.

frivolous_fay

Bankers draft is completely different, and there is a charge for using them.

Bank transfer is done at the bank counter (or via internet banking in my case)

Some people seem to be getting confused about paying money into someone's account with a paying in slip at a branch - that's not a bank transfer.

rabbit_burrow

frivolous_fay wrote: »

Bankers draft is completely different, and there is a charge for using them.

Bank transfer is done at the bank counter (or via internet banking in my case)

Some people seem to be getting confused about paying money into someone's account with a paying in slip at a branch - that's not a bank transfer.

A Bankers draft is basically a cheque which is written by the bank, but it has been known for there to be fakes, and it is wise to allow the same clearing period as a normal cheque (a Natwest B/D used to cost £12 to write).

They could pay you over the internet from their account, which would be free if they did it as a 'payment to a friend', but if they did a CHAPS payment done through the branch, it could cost them about £28

There was only one person getting confused with paying in over the counter (2 people were just commenting on it, myself included)

greenstreetprince

tommyprice wrote: »

Do you see much of a Drop in sales if you say you don't accept Paypal but do accept Bank Transfers?

depends on what you are selling.

if its something like mobile phones i can understand buyers needing the kind of protection paypal offers through the Buyer Protection Programme, and you may not chieve anywhere near the amount of sales as you would with paypal

on the other hand, if you are selling something unique, catering to a niche market then you may not notice much of a difference at all. it may also be worth offering both forms of payment and offering a discount to those buyers who pay via bank transfer

KathMeek

Just to clarify...

I just bought a tv on ebay where I thought I was going to be able to pay by paypal but I then found out I could only pay by bank transfer.
Is it safe to do so????
What happens if I don't receive my tv - do I stand to loose a lot of money?

Kath

cyberbob

On ebay they have to accept Paypal in the UK (except classifieds and motors). So if you are not happy to pay via BT dont. You are better covered as a buyer if you pay via Paypal.

if they refund you if you pay via paypal you can then report them as a NPS and give appropriate feedback

frivolous_fay

KathMeek wrote: »

Just to clarify...

I just bought a tv on ebay where I thought I was going to be able to pay by paypal but I then found out I could only pay by bank transfer.
Is it safe to do so????
What happens if I don't receive my tv - do I stand to loose a lot of money?

Kath

Hello,

All sellers on ebay are obliged to accept paypal.
If it is being delivered to you, DO NOT pay with bank transfer - this goes doubly so if it's an expensive TV!

Sellers are not allowed to refuse a paypal payment.

Mayday

This eBay review might help:

http://reviews.ebay.co.uk/Payment-by-Direct-Bank-Transfer_W0QQugidZ10000000002794069