Bank transfer - how safe for the seller?

tonyg_2

I have just sold an item. The buyer is going to pay me by bank transfer. They are a totally new ebayer with zero feedback. How safe is it for me to receive such a payment? Thanks!

herbal

Very safe.

g33za

the main advantages of a bank transfer is it cant be reversed as easily as a payapl transaction and also you dont get fleeced in paypal fees. Once you get the money just let it clear (couple of days) and then send out the item.

tonyg_2

g33za wrote:

the main advantages of a bank transfer is it cant be reversed as easily as a payapl transaction and also you dont get fleeced in paypal fees. Once you get the money just let it clear (couple of days) and then send out the item.

Does it take an extra couple of days for a bank transfer to clear AFTER it first appears in your bank account? Or once it shows on my online statement is it safe to send the ebay item out at that point?

Thanks Tx

soolin

tonyg wrote:

Does it take an extra couple of days for a bank transfer to clear AFTER it first appears in your bank account? Or once it shows on my online statement is it safe to send the ebay item out at that point?

Thanks Tx

The payment will take three or four working days to hit your account but as soon as it arrives it is clear.

As far as I know the transfer can never be clawed back, which makes it probably the best form of payment, for the seller, on ebay.

Soo

Patr100

Does it cost anything to set up or are there any charges for the buyer or seller? How would I arrange this both ways?


Questions.questions......

cafenervosa_2

I've had 3 or 4 bank transfers now and I am very impressed. My bank (Natwest) charge a small fee (£1), but i've still usually got the full money of the sale after that because the buyer has paid me a little to much a couple of times.

soolin

cafenervosa wrote:

I've had 3 or 4 bank transfers now and I am very impressed. My bank (Natwest) charge a small fee (£1), but i've still usually got the full money of the sale after that because the buyer has paid me a little to much a couple of times.

I have had bank transfers into three different accounts (I am greedy!) and have never been charged. The three accounts I have used are Barclays, Smile and First Direct.

I have also made transfers, but only to family members and not on ebay (I will only use paypal) and have never been charged for sending either.

Soo

paul_h

soolin wrote:

The payment will take three or four working days to hit your account but as soon as it arrives it is clear.

As far as I know the transfer can never be clawed back, which makes it probably the best form of payment, for the seller, on ebay.

Be careful.

A bank transfer can be clawed back up to 24hrs after it reaches your account. This is scam which has been discussed on the eBay Q&A board - seller sees money in account, buyer hassles seller to ship immediately, seller ships, payment disappears.
:eek:

It's something to do with the transaction appearing in your account before the funds are actually cleared. If you wait until the end of the next business day and the payment is still there, it is supposed to be totally safe to ship. If you are in any doubt, you could always check with your bank.

Once the payment is cleared after this period it is definitely the safest type of payment to accept, other than cash and POs.

paul_h

cafenervosa wrote:

I've had 3 or 4 bank transfers now and I am very impressed. My bank (Natwest) charge a small fee (£1), but i've still usually got the full money of the sale after that because the buyer has paid me a little to much a couple of times.

I've got current accounts with NatWest and an online bank and I've never been charged to receive BACS transfers. There are charges for CHAPS transfers which are same day though.

soolin

paul_h, I never knew that!

I always assumed that bank transfers were the bees knees, I don't like cheques, I don't take posstal orders and obviously although I love paypal do find the charges a little high. I really push bank transfers and always send my items out as soon as the money shows in my acocunt.

Hmm, may have to have a rethink.

Soo