bank transfer ...safe ?

elisebutt65

I love paying by bank transfer - Doesn't actually make much difference to me how I pay but when I've sold stuff in the past, I always resent paying paypal fees.

So easy with internet banking as well - I can't see any comebacks either, after all I pay for various things by cheque still and never had anyone nick my identity from that - LOL

greenstreetprince

elisebutt65 wrote: »

I love paying by bank transfer - Doesn't actually make much difference to me how I pay but when I've sold stuff in the past, I always resent paying paypal fees.

So easy with internet banking as well - I can't see any comebacks either, after all I pay for various things by cheque still and never had anyone nick my identity from that - LOL

its not ID fraud which prevents people from paying using bank transfer, its the buyer protection that paypal offers, if you dont get your item you get your money back in most cases with paypal, with bank transfers your moneys gone whether you get your item or not.

soolin

elisebutt65 wrote: »

I love paying by bank transfer - Doesn't actually make much difference to me how I pay but when I've sold stuff in the past, I always resent paying paypal fees.

So easy with internet banking as well - I can't see any comebacks either, after all I pay for various things by cheque still and never had anyone nick my identity from that - LOL

Ebay no longer give any protection for non paypal sales, so using a method of payment that is not refundable can be risky especially while there are still sellers out there who refuse to understand that it is up to them to get packages to the buyer.

Whilst as a seller I love bank transfers to bits and wish everyone would pay using them, as a buyer I wouldn't risk it even on the smallest item.

foreversomeday

I would have thought if people have your acct number/sort code and your name they can go into a branch and take out your money!!! Obviously I was wrong...

soolin

foreversomeday wrote: »

I would have thought if people have your acct number/sort code and your name they can go into a branch and take out your money!!! Obviously I was wrong...

if it were that easy the banking system would collapse.

Every time you write a cheque you give out your bank sort code, your account number PLUS your signature and details of the name the account is held in. So next time you pay someone by cheque remember that they have all that info and can even practice forging your signature.....luckily though banks don't easily give out money and most require ID and pin numbers even over a counter as well as a signature.

Time2Go_25

soolin wrote: »

especially while there are still sellers out there who refuse to understand that it is up to them to get packages to the buyer.

I hope that's not a dig at my earlier question:grouphug:

Is there much difference in paying by cheques as opposed to bank transfer, as people seem quite happy to send cheques, but are scared by the thought of bank transfers.

soolin

pdel61 wrote: »

I hope that's not a dig at my earlier question:grouphug:

.

Not at all, by co incidence I'm browsing ebay at the moment and in the category I am searching I have already turned up 2 sellers who have that sort of silly statement in their listings. One of them I wouldn't have dealt with anyway as they have poor feedback, but the other has fair feedback and takes paypal and I'm just not sure whether I want the hassle of dealing with them if it gets nasty. Decisions decisions..I might just go to Tesco and pay a bit extra there instead.....

frivolous_fay

pdel61 wrote: »

Is there much difference in paying by cheques as opposed to bank transfer, as people seem quite happy to send cheques, but are scared by the thought of bank transfers.

Bank transfer is faster, but the downside is: pretty much zero chance of any comeback if the seller turns out to be dodgy. Some people are unnecessarily paranoid about giving their details out to be paid by bank transfer, but there's really no need.

Ebay won't protect you either way, so stick to credit card funded paypal for payments.

impecunious

It's about time to seriously challenge this monopoly that Ebay has created for itself whereby it will only protect buyers using its own payment system - Paypal. In today's supposedly open market place, I find it is extraordinary that Ebay continues to get away with this. As everyone should be aware, payments by credit card, for instance, are already protected for purchases between £100 and £30,000 under Section 75 of the Consumer Credit Act.

Most incredible to me, is that it is the buyer that forces the seller to pay for its own protection!!! And what protection does the seller really get? Sweet FA! Is it just me, or does that sound bizarre to others?

I dare say that this has been mentioned before, but it does irk that as a seller, I'm forced to pay twice for the same thing - to sell my goods. Ebay should have its own protection incorporated into its charges and that payments, such as bank transfer which are perfectly safe, should be covered, instead of touted as unreliable and unsafe.

I think I'd better get off my soapbox now......!!!

frivolous_fay

impecunious wrote: »

Most incredible to me, is that it is the buyer that forces the seller to pay for its own protection!!!

Not sure what you mean by this - surely the seller pays to use paypal?

impecunious wrote: »

And what protection does the seller really get? Sweet FA! Is it just me, or does that sound bizarre to others?

Paypal protection works fine if the rules are adhered to.

impecunious wrote: »

I dare say that this has been mentioned before, but it does irk that as a seller, I'm forced to pay twice for the same thing - to sell my goods.

Ebay charges a fee to use its services. Paypal charges a fee to use its services. Many companies do this - you just happen to have decided to use two of them for the same transactions.

impecunious wrote: »

Ebay should have its own protection incorporated into its charges and that payments, such as bank transfer which are perfectly safe, should be covered, instead of touted as unreliable and unsafe.

Ebay have control over paypal - they have no control over the banks. Try going into a branch of your own bank to say that you sent a bank transfer payment to someone who turned out to be a scammer - they'll tell you what they'll do about it. (Hint: the answer is 'nothing') If the banks can't or won't deal with bank transfers to frauds, why would ebay be willing to leap in and swallow the costs when they can tell you to use paypal instead, and make more profit, AND give you some protection?

impecunious wrote: »

such as bank transfer which are perfectly safe, should be covered, instead of touted as unreliable and unsafe.

As above, bank transfer as a payment method is extremely unsafe for buyers. It should not be touted as 'safe', because scammers love it.

When selling, we need to protect ourselves by making sure paypal's requirements are covered. When buying, we need to make sure we're buying with trustworthy users and not paying via methods which will not protect us from fraud. If we're unwilling to protect ourselves using the tools available to us, ebay's not for us.