Bank transfer for Gumtree sale - safe?

Juzza12

Hi, I have an item worth £1500 so I'm a little wary of taking cash on collection as it's a lot to check.

Is bank transfer still safe? I know there have been some changes lately to protect people from scams when using this method, but not sure if it would be relevant to something like this.

retiredbanker1

Do you mean someone pays you before you send the goods out?

If so they IMO would be incredibly stupid as you could be scamming them.

You could receive a payment into your account and it may well show up as cleared BUT if the sender has hacked into someone else's account you may find your bank wanting to debit it back if it is fraudulent.

If it was me it would be cash on collection only - and buy one of those pens that can check for forged notes.

Juzza12

https://forums.moneysavingexpert.com/discussion/comment/82069402#Comment_82069402

I've edited my post, it's for an item that's being collected. Thanks.

retiredbanker1

https://forums.moneysavingexpert.com/discussion/comment/82069404#Comment_82069404

I would still go for the cash on collection.

Gumtree is renowned for Scams.

GrubbyGirl_2

Another alternative is to ask them to send Paypal Friends and family at the point of collection. That helps both to know they are not being scammed as the buyer gets to see the item before paying and Paypal F&F prevents them from reversing the transaction. Failing that definitely cash on collection and an honest buyer will not mind you counting it

Newbie_John

I think cash on collection of £1500, that's 75x£20 that they can grab and run away is much riskier.

Id prefer a bank transfer - show them the item where they can't steal it, but outside the house if possible, maybe have a friend with you, if they're happy then bank transfer - but avoid any excuses like "why not showing in your bank app but it shows in theirs", or any excuses that they transfered to wrong account etc. no money no item.

Also from buyer point of view, I wouldnt buy an item that required me carrying £1500 to unknown location 😅

Exodi

Gumtree and bank transfers are two extremely common words in the context of scams, we see threads on this forum all the time of people that have been scammed.

A common scenario where the victim is the buyer is where the victim is encouraged to send the money in advance by bank transfer, maybe in the context of the item being posted - but the item never arrives and the seller disappears. You can usually spot these out because the scammers list products at 'too good to be true' prices but insist on delivery for one reason for another (e.g. the latest iPhone for £150).

A common scenario where the victim is the seller is where the item is collected and the bank transfer is made in person. The scammer shows you their phone while they input your details and send you the money. The money doesn't show in your account instantly, but the app does mention it can take up to two hours and you saw them send the money so you let them take the item. Turns out the app they used was a fake app and no money was ever sent.

Both of these I have seen in threads on MSE this month.

This is a little bit different, as it sounds like you are the one suggesting bank transfer as you don't want cash (I think this is a mistake personally), but I would definitely be cautious if it was originally their suggestion.

If you do go through with bank transfer, do NOT let them leave with the item while the money is not showing in your account, regardless of how much they pressure you.

The changes you are referring are not relevant to something like this, they are mainly to protect the bank (banks now plaster transfer pages with warnings so if someone decides to ignore the warnings and send money to a scammer, they will argue they are not liable as they warned you).

Juzza12

https://forums.moneysavingexpert.com/discussion/comment/82069466#Comment_82069466

They could still say that their Paypal account was hacked.