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Counter credit

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GrahamJeffs
GrahamJeffs Posts: 17 Forumite
Eighth 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.
  • GrahamJeffs
    GrahamJeffs Posts: 17 Forumite
    Eighth 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: 2,155 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?
  • GrahamJeffs
    GrahamJeffs Posts: 17 Forumite
    Eighth Anniversary 10 Posts Combo Breaker
    Barclays Bank
  • dr_adidas01
    dr_adidas01 Posts: 2,155 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 1:41PM
    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.
  • GrahamJeffs
    GrahamJeffs Posts: 17 Forumite
    Eighth 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
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