Selling to CEX

strangeotron

I've done it before, so I'm familiar with the company.

However despite having membership, for a long time, they are now claiming that, if you want to sell something, as opposed to trade, I have to provide them with bank details.

Is this right? Is it from some new legislation? I can't say I'm keen to hand over my bank account information to CEX of all people!

donnajunkie

strangeotron wrote: »

I've done it before, so I'm familiar with the company.

However despite having membership, for a long time, they are now claiming that, if you want to sell something, as opposed to trade, I have to provide them with bank details.

Is this right? Is it from some new legislation? I can't say I'm keen to hand over my bank account information to CEX of all people!

i think it is because they pay you through your bank account. i have heard of people not getting paid. personally i wouldnt do it.

silvercar

It is only the information that can be found on a cheque.

strangeotron

donnajunkie wrote: »

i think it is because they pay you through your bank account. i have heard of people not getting paid. personally i wouldnt do it.

That must be a new policy then, they always used cash from the till before.

strangeotron

silvercar wrote: »

It is only the information that can be found on a cheque.

I've no idea what specific info they want. I was asked to give them my bank details, which obviously ain't happening and is possibly illegal. They said nothing about cheques - and who uses those anymore?

want_to_save

do you sell to them online or at a shop?

strangeotron

want_to_save wrote: »

do you sell to them online or at a shop?

Shop. Who in their right mind would send stuff to these people in the hope of a payment?

silvercar

strangeotron wrote: »

I've no idea what specific info they want. I was asked to give them my bank details, which obviously ain't happening and is possibly illegal. They said nothing about cheques - and who uses those anymore?

My point was that in the dim and distant past people wrote cheques and gave them to people without worrying about the information on them. Giving your bank details ie account number/ sort code/ bank name is no different to passing a cheque that contains those details.

I don't see what is illegal about asking for your bank details. If that is their method of payment then how else do you expect to be paid other than by giving them the means to do so.

DCFC79

strangeotron wrote: »

I've no idea what specific info they want. I was asked to give them my bank details, which obviously ain't happening and is possibly illegal. They said nothing about cheques - and who uses those anymore?

Why possibly illegal ?

Last time i sold something I was given cash, nothing about bank details. I cant see them changing the business model, maybe you misunderstood what they said.

strangeotron

Not really sure how any of this answers my question.

If you want to trust CEX of all people with your bank details, that's up to you. I'm certainly not giving them my account number and sort code. I'd be hard pressed to give that to anyone

strangeotron

silvercar wrote: »

My point was that in the dim and distant past people wrote cheques and gave them to people without worrying about the information on them. Giving your bank details ie account number/ sort code/ bank name is no different to passing a cheque that contains those details.

I don't see what is illegal about asking for your bank details. If that is their method of payment then how else do you expect to be paid other than by giving them the means to do so.

because as i explained they used to pay in cash from the till.