Money Fraud

Yozza

I have just avoided a fraud situation when selling my classic car. He intending paying me by cheque and await clearance before picking up my car but I have established to that this a con - stolen cheque bbok? After four weeks the money is taken out of your account by the fraud squad and you are not protected by your bank. The question I am asking is,when using web platforms to sell items should you ask the buyer to provide his bank contact details so you can verify he actually has an account? Or how safe from fraudulant money iare bank transfers. Any money that is involved in fraud can legitibly be taken from your account by the fraud squad,I believe.

JJ_Egan

Why are you posting in a section that is about feedback for this site ??

Suggest banking or Ebay forums .

soolin

Yozza said:

I have just avoided a fraud situation when selling my classic car. He intending paying me by cheque and await clearance before picking up my car but I have established to that this a con - stolen cheque bbok? After four weeks the money is taken out of your account by the fraud squad and you are not protected by your bank. The question I am asking is,when using web platforms to sell items should you ask the buyer to provide his bank contact details so you can verify he actually has an account? Or how safe from fraudulant money iare bank transfers. Any money that is involved in fraud can legitibly be taken from your account by the fraud squad,I believe.

Check out the 2-4-6 banking rule , as long as it is a legit high street bank signed up for the scheme you are safe against fraud, the fraud is usually that people don’t do HP checks and buy a car without checking if it is still on finance or stolen. 

If worried only take cash for a car, check money over carefully before handing over the keys. Remember to ensure you have all the correct details for buyers so you can complete the log book parts.

I’m also not sure at all what you mean about asking for buyers bank details, there’s nothing a buyer can give you to prove it’s their bank account is there? The cheque will have a sort code and account number in it, what else do you expect to get? 

martindow

soolin said:

I’m also not sure at all what you mean about asking for buyers bank details, there’s nothing a buyer can give you to prove it’s their bank account is there? The cheque will have a sort code and account number in it, what else do you expect to get? 

I suppose you could start the process for making a payment if you have account details.  This should show that the name matches the buyer's and obviously not continue with the payment.  As a buyer though, I would find asking for bank details a very odd request from the seller.

soolin

martindow said:

soolin said:

I’m also not sure at all what you mean about asking for buyers bank details, there’s nothing a buyer can give you to prove it’s their bank account is there? The cheque will have a sort code and account number in it, what else do you expect to get? 

I suppose you could start the process for making a payment if you have account details.  This should show that the name matches the buyer's and obviously not continue with the payment.  As a buyer though, I would find asking for bank details a very odd request from the seller.

Again though the cheque would show a name , sort code and account number- I’m at a loss to see what else a seller would ask for that could be useful?