Bank Transfer Charges ?

Jack_Itin

While on the subject.....the bank transfer is to pay for an item on Ebay, so it will mean sending money to someone that I don't know, if things go wrong, is there any come back ?? or is it a case of once the money has gone, it's gone ?

eskbanker

Jack_Itin said:

While on the subject.....the bank transfer is to pay for an item on Ebay, so it will mean sending money to someone that I don't know, if things go wrong, is there any come back ?? or is it a case of once the money has gone, it's gone ?

Bank transfers don't offer any meaningful protection so it's better to pay by card if at all possible, but PayPal is also an option (all Ebay sellers used to be forced to accept this, don't know if that still applies) with some sort of buyer protection.

Jack_Itin

Thanks for that......I think they changed it for auctions, the seller can now specify their payment preferences, I think for Buy it Now items they still have to accept Pay Pal......I would much rather pay cash, but in this instance distance prevents this.....

born_again

Jack_Itin said:

Looking online it says that Lloyds Bank charges £30 to do a bank transfer to someone else......just been into the branch and they are telling me that there is NO charge to do this.....which is correct ??

CHAPS payment - same day transfer to accounts held at any other bank.

£30

https://www.lloydsbank.com/charges/services.html

jonesMUFCforever

CHAPS is meant for large transactions - I believe Lloyds can do a branch faster payment up to £250,000 free (subject to ID etc) - anything bigger to another bank will be charged £30 as per above post.

badger09

Jack_Itin said:

Thanks for that......I think they changed it for auctions, the seller can now specify their payment preferences, I think for Buy it Now items they still have to accept Pay Pal......I would much rather pay cash, but in this instance distance prevents this.....

AFAIK, apart from a very few categories (eg car), ebay sellers must accept Paypal, which is your safest payment method.

I've bought several items on auction basis, rather than BIN, and have always paid by Paypal

Jack_Itin

Thanks for that, the item in question is a moped, so classed as a vehicle.....I  understand that some sellers don't like Paypal  because  of the charges.....

ratechaser

Buying a moped, on eBay,  via bank transfer... 'bargepole' is the word that comes to mind!

soolin

Sorry had to jump in when I saw this was ebay. NO, do not send bank transfer arrange to go and collect item and agree either cash on collection or to phone your bank when you are with the bike to make a bank transfer. If you are new to online selling and buying then you might not recognise a scam, and bikes etc are a highly scammed area. 

If you send a bank transfer, then as above, you have no recall if you turn up and the address is wrong Or it is a hacked account. 

soolin

Jack_Itin said:

Thanks for that......I think they changed it for auctions, the seller can now specify their payment preferences, I think for Buy it Now items they still have to accept Pay Pal......I would much rather pay cash, but in this instance distance prevents this.....

Just to clarify this (and off topic) PayPal is a required option, and in fact for some categories and sellers the only option on all auctions and BINs. Motor vehicles are an exception as it is presumed you would pay cash on collection.  Sellers can add an additional Payment option in most categories, but not all, but PayPal cannot be refused and will show as the preferred payment option. If a seller tries to get you to pay by bank transfer or says anything like ‘their PayPal is broken’ it’s a scam.

although to complicate matters eBay is switching, at a very slow pace admittedly, to a managed payment system where buyers will have more choice of payment methods, including card payments. However, even then sellers cannot refuse buyer paying by a safe means.