bacs payment

Ergates

Takmon wrote: »

I have accepted payments by bank transfer for larger amounts from private sellers for cars and so have other people I know without any issues.

People often talk of the risk of it coming from an account they have accessed unlawfully but I've never heard of anyone losing out from this or getting any kind of fraud marker. If anything did go wrong you would have correspondence showing it was a legitimate sale.

The difference with cars is that they have a registered owner - so it's somewhat harder to take the goods and disappear.

jonesMUFCforever

Takmon wrote: »

Do you have any source showing this has ever happened?

What do mean by source?
Google is your friend and you can also search other threads on these boards for people who have been scammed.

Takmon

jonesMUFCforever wrote: »

What do mean by source?
Google is your friend and you can also search other threads on these boards for people who have been scammed.

I've never seen anyone report they have had the money taken away from them after handing over the goods and certainly haven't seen anyone get a CIFAS marker because of it. So as you are the one making the claim it's down to you to show proof....

xlnc99

I think its quite ridiculous to give advice not to take bank transfers as a source of funds. Its just insane and bizzare. This is what banks are for and how people transfer funds. Cash is much more dodgy then bank transfer. Bank Transfer is the safest method.

If the person who transfers the cash uses a fake account or dodgy money then its on them not the person recieving it. Any bank will understand this

People putting panic in the OP's eyes for no reason at all.

As long as the OP is innocent then there will be no comeback on him

Zanderman

xlnc99 wrote: »

I think its quite ridiculous to give advice not to take bank transfers as a source of funds. Its just insane and bizzare. This is what banks are for and how people transfer funds. Cash is much more dodgy then bank transfer. Bank Transfer is the safest method.

If the person who transfers the cash uses a fake account or dodgy money then its on them not the person recieving it. Any bank will understand this

People putting panic in the OP's eyes for no reason at all.

As long as the OP is innocent then there will be no comeback on him

Except that he may no longer possess either the lens or the money. No comeback maybe but no asset possibly..

xlnc99

Zanderman wrote: »

Except that he may no longer possess either the lens or the money. No comeback maybe but no asset possibly..

Yes that could be a small possibility but there are holes in every method. Nothing is fool proof. But bank transfer is still the safest method, millions and millions of transfers are done everyday. Nothing is going to be perfect there is always that small chance of something going wrong. However, it is a tiny tiny percentage 99.9% of transfers come through without a hitch or issues.

Its like advising someone not to take a plane and drive to another country due to the risk of a plane crash. Logic is the same

Ben8282

xlnc99 wrote: »

I think its quite ridiculous to give advice not to take bank transfers as a source of funds. Its just insane and bizzare. This is what banks are for and how people transfer funds. Cash is much more dodgy then bank transfer. Bank Transfer is the safest method.

If the person who transfers the cash uses a fake account or dodgy money then its on them not the person recieving it. Any bank will understand this

People putting panic in the OP's eyes for no reason at all.

As long as the OP is innocent then there will be no comeback on him

I disagree with what you have written.

xlnc99

Why do you disagree? Do you not think a bank transfer is safe? Ive bought and sold plenty of goods via bank transfer with people i dont know and never had major problems. I had some slight issues in the past but the banks were very quick to resolve it and i did not lose out. They offer good protection despite what people may think.

If the person is buying or selling goods to anyone and is totally an innocent party if things go wrong then he will not lose out

Ben8282

xlnc99 wrote: »

Why do you disagree? Do you not think a bank transfer is safe? Ive bought and sold plenty of goods via bank transfer with people i dont know and never had major problems. I had some slight issues in the past but the banks were very quick to resolve it and i did not lose out. They offer good protection despite what people may think.

If the person is buying or selling goods to anyone and is totally an innocent party if things go wrong then he will not lose out

In the specific scenario posed by the OP of this thread, this would be very high risk both considering the value of the item and also because.it is the equivalent of accepting a telephone order by credit card and alowing the goods to be collected, something I lerned 30+ years ago was very unwise.

I would agree that there are scare stories and exaggerations in the 'the bank blocked my account' type threads found in this forum. However, unlike a credit card telephone order where the merchant should be able to verify the cardholder address and retain proof of posting of the item to that address, in the case of bank transfers no such verification is possible. The goods certainly should not therefore be just handed over especially if of high value.

jonesMUFCforever

Takmon wrote: »

I've never seen anyone report they have had the money taken away from them after handing over the goods and certainly haven't seen anyone get a CIFAS marker because of it. So as you are the one making the claim it's down to you to show proof....

Here is one I have been commenting on....

https://forums.moneysavingexpert.com/discussion/comment/76586075#Comment_76586075