How to safely receive money selling on Facebook?

Beksybob

I'm selling something on Facebook that's for collection. Someone has messaged asking if they could pay by bank transfer now and collect tomorrow. They don't want to bring cash. Is there any way this could be a scam? Something about it feels dodgy.

Brie

I wouldn't be comfortable with that.  What happens if they don't show up, changes their mind and asks for the money back and then tells their bank that the transfer to you was fraud and they pull the money back?  

OH was trying to sell things and got the "I'll do a bank transfer and send a courier to pick up the item" which is a known scam.  So cash only for us.  Even if it's high value.  

eddddy

Where a bank transfer is done by the legitimate account holder - it's safe and cannot be reversed.

But, for example, if somebody has hacked into somebody else's online bank account and does a transfer, that can be reversed - when the genuine account holder reports the hacking to their bank.


It becomes an even bigger scam when this happens...

• You are selling something for £200

• A scammer using a hacked-into bank account 'accidentally' transfers £2000 - instead of £200

• So the scammer apologises and asks you to return the £1800 overpayment in cash (or some other way)

• Then the genuine account holder reports the hacking to their bank - and the £2000 transfer is reversed

In those cases, the scammer might not even bother to collect the £200 item - all they were interested in is the £1800 cash.




Edit to add...

I think it's less likely that a genuine account holder would lie to their bank and say their account was hacked-into when it wasn't.

The risk of being found out would be much too high.

Beksybob

Thank you. I couldn't understand how a bank transfer could be a scam but now I see. I'll say thanks but no thanks. It's a £300 item and this is making me nervous.

bluelad1927

Marketplace is awash with scammers. Cash on collection only for me.

A friend has recently been scammed for a lot of money on his own doorstep with somebody using a fake banking app

Beksybob

Just a thought...if there was a fraud claim does the bank not claim that back from it's own insurance?

eddddy

Beksybob said:

Just a thought...if there was a fraud claim does the bank not claim that back from it's own insurance?

There's no need for the bank to do that, because the bank doesn't offer any guarantee that bank transfers won't be reversed.

(And the bank would probably be 'self insuring' anyway.)

As an example, it's different for shops that accept credit cards. The bank guarantees that if a card is used with a PIN, the payment to the shop will not be reversed.


I guess it would be nice for consumers, if the banks introduced some kind of guarantee that bank transfers cannot be reversed. But that's not the case at the moment.