We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!

Counter credit

Merrybrook
Merrybrook Posts: 19 Forumite
Tenth Anniversary 10 Posts Combo Breaker
in Budgeting & bank accounts
Hi
I have sold something via email to a fellow member of a motoring forum we both belong to. The buyer has done a bank transfer of the money and it is showing on my account (Barclays) as "Counter Credit". This was done earlier today.


When can I consider this to be safely in my account so I can release the goods?


Thanks


Graham

Comments

  • paragon909
    paragon909 Posts: 1,498 Forumite
    GrahamJeffs wrote: »
    Hi
    I have sold something via email to a fellow member of a motoring forum we both belong to. The buyer has done a bank transfer of the money and it is showing on my account (Barclays) as "Counter Credit". This was done earlier today.


    When can I consider this to be safely in my account so I can release the goods?


    Thanks


    Graham

    Instantly, "Counter Credit" is when they go to the bank and put the money in over the counter, Not bank transfer.

    Although you seem to have some sort of anxiety about selling stuff online....
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Counter credit normally means a cash deposit, not a bank transfer.

    I think a cash deposit is safe instantly.
    A bank transfer is never safe as theoretically it can be made from a hacked account.
  • Merrybrook
    Merrybrook Posts: 19 Forumite
    Tenth Anniversary 10 Posts Combo Breaker
    No anxiety - I just want to let the person have their goods quickly. What a strange response!


    They definitely did a bank transfer and not cash over the counter. I just think my account shows it that way...


    Graham
  • dr_adidas01
    dr_adidas01 Posts: 2,157 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    It means its already been payed into your account so go and send the buyer their items!!
    Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    GrahamJeffs wrote: »
    ... I just think my account shows it that way...
    I am curious - what bank is it? How are other incoming transfers shown?
  • Merrybrook
    Merrybrook Posts: 19 Forumite
    Tenth Anniversary 10 Posts Combo Breaker
    Barclays Bank
  • dr_adidas01
    dr_adidas01 Posts: 2,157 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Its probably Barclays as even if you do a faster payment it still shows as BGC
    Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:
  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 6 May 2015 at 12:41PM
    GrahamJeffs wrote: »
    Barclays Bank
    Yes, I see confusing 'counter credit' for a withdrawal from Paypal.
    So is a FP from my account in another bank.

    A withdrawal from a bookie shows as "credit payment".

    Barclays are good in creating confusion - once I even complained to Barclaycard about this.
  • Merrybrook
    Merrybrook Posts: 19 Forumite
    Tenth Anniversary 10 Posts Combo Breaker
    It happened the last time someone paid money in via a bank transfer too however that time I didn't need to send any goods out so didn't worry about how long it took to clear.


    Graham
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.9K Banking & Borrowing
  • 253.9K Reduce Debt & Boost Income
  • 454.7K Spending & Discounts
  • 246K Work, Benefits & Business
  • 602.1K Mortgages, Homes & Bills
  • 177.8K Life & Family
  • 259.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture