If dealing with a new member and you are unsure of any details, try and determine if they are genuine or not.Stay safe when trading and try to be a responsible buyer. ... of money and the trader has asked for this via bank transfer. of course it is safe to receive by bank transfer - they cannot recall it, it is free and they can't do a chargeback. https://community.ebay.co.uk/t5/Archive-Seller-Central/Buyer-paying-by-bank-transfer-can-anything-go-wrong/td-p/5276987. Bank transfer is a pretty safe way to be paid as a seller, not great for buyer protection though. use your banking app to send money) is safe for the seller. How safe is PayPal for money transfers? Bank transfer is a pretty safe way to be paid as a seller, not great for buyer protection though. Stick to your timeline and don’t rush the transaction. This is a 100 percent fail-safe way to be paid for both the buyer and the seller. A wire transfer is an immediate form of payment. The vehicle buyer may have to pay a fee, but you’ll avoid a likely bigger one for taking a bad check that bounces. The advantages of sending a bank transfer are that you do not need to wait for anything to arrive in the mail, there are no cheques to cash, and the funds are available immediately upon receipt. This route involves other banks and financial institutions that are connected through an international network called SWIFT (Society for Worldwide Interbank Financial Telecommunication). As you will be posting it, you need to make sure you do it with the right level of insurance and tracked, that waythe seller is covered for an item not received claim. Keep possession of your car until the funds have transferred. Read on for more information, including how to make a bank transfer and what details you’ll need. Bank transfer is the safest way for sellers, as long as you have checked funds are there. Q I'm buying a small property for my daughter and her family and am fortunate enough to be able to pay for it in full.After my experiences with Northern Rock, Bank of Scotland and Irish Banks I am ... https://www.mumsnet.com/Talk/ebay/1642853-Buyer-wants-to-pay-via-bank-transfer. Is bank transfer safe if ur buyer?? I’m guessing that they’d want me to pay prior to collection (via electronic transfer), eg by a couple of days. Ensuring safe payment. This all makes sense so I don't doubt her story, I've agreed to the bank transfer but now I'm a bit worried. When you confirm an international transfer, your bank deducts the funds from your account. Seller requests payment via bank transfer to an eBay bank account. According to the FDIC, “Using a bank or a money transfer company to "wire" funds electronically is an … https://community.ebay.co.uk/t5/Archive-Seller-Central/Is-payment-via-Bank-Transfer-safe/td-p/2024968. But a faster payment made through online or phone banking may be more problematic, especially if the buyer decides that using someone else's log in … First, you’ll need to set up your international money transfer on TransferWise. The new rules come into force from June 30 Credit: Getty Images - Getty. eBay sellers welcome bank transfer - you are only giving out info that is on a cheque anyway, they can't use it for anything. Cheques – never let the buyer take your vehicle until the funds have cleared in your bank account. To be safe, verify checks with the issuing bank instead of waiting for the check to clear with your bank. I recently sold an item and the buyer contacted me stating they are having trouble with paypal and want to put money into my bank account. Hi I use paypal for all of my transaction. If you are not comfortable with that, you can set up a PayPal account properly at www.PayPal.com.au and I will make the payment through PayPal, this way, all I will need is your PayPal email address. Q I'm buying a small property for my daughter and her family and am fortunate enough to be able to pay for it in full.After my experiences with Northern Rock, Bank of Scotland and Irish Banks I am ... https://www.mumsnet.com/Talk/ebay/1642853-Buyer-wants-to-pay-via-bank-transfer. Check with your bank to ensure the … If your bank offers a e-savings account you can use those details so … 28-09-2013 11:02 AM. Meet at the Buyer’s Bank . While PayPal is generally safe, you still should not treat it as a replacement for a bank account. Thanks, Rebecca. https://www.thesun.co.uk/money/9631181/why-not-pay-bank-transfer-scammers-shop/. https://www.moneymag.com.au/bank-account-safety, ING Direct says it is safe to give out your details but it recommends you monitor your account for unauthorised transactions. If possible, complete the transaction at the buyer’s bank to be sure the funds are available. Electronic transfer via internet banking In-branch transfer with the buyer Cash You could take a bank cheque; however these are not entirely secure and can be cancelled. Could they do any kinds of chargback?Thanks. hi guys.. im always buying things off gumtree.. and most people ask for bank transfer then they will send goods.. so what protection level is there? launched a ‘super-complaint’ to push banks and regulators to better protect people who were increasingly falling victims to scams that resulted in them transferring money to fraudsters. Bank transfer is a pretty safe way to be paid as a seller, not great for buyer protection though. As you will be posting it, you need to make sure you do it with the right level of insurance and tracked, that waythe seller is covered for an item not received claim. In both of these examples, scammers are likely at play, so here are a few tips to help you avoid money transfer scams. Once a scammer has obtained the funds you wired in exchange for a check, the wire transfer cannot be reversed, even if the check is fraudulent. Getting money via wire transfer is for the most part safe. I’m buying at a distance from a major dealer and have paid a small deposit of a few hundred pounds on credit card with the intention of paying the rest by bank transfer. 28-09-2013 11:02 AM. Is it safe to give So, now I think I finally get it. The protective measures are designed to help stop customers from losing millions of pounds to bank transfer scams. https://www.thesun.co.uk/money/11973908/new-anti-fraud-rules-for-bank-transfers-come-into-force-june-30-heres-how-they-will-affect-you/. There is absolutely NO "buyer protection" with a direct wire transfer- absolutely all of the risk is on the buyer. https://community.ebay.co.uk/t5/Archive-Seller-Central/Is-payment-via-Bank-Transfer-safe/td-p/2024968. A bank transfer is when money is sent from one bank account to another. The new rules come into force from June 30 Credit: Getty Images - Getty. After my experiences with Northern Rock, Bank of Scotland and Irish Banks I am naturally nervous. Instead contact the company directly using a trusted email or phone number to check the request is genuine. Post Tweet Share Share with WhatsApp Share with Messenger Community Updates. Buying and selling Abroad ... compared to 3-7 days for a regular bank. Bruno_Eye 22. Stay safe when meeting in person When selling through Craigslist, be careful whom you invite to your home, says McGrath. The guy said he will pay via Bank Transfer. Whatever the circumstances of the sale, receiving payment by bank transfer is perfectly safe for you. Regarding the payment, I can pay you through direct bank deposit (EFT),using PayPal instant bank wire transfer service. Find your conveyancer to use Safe Buyer. A bank transfer, also called a wire transfer, is a way to send money from one bank account to another anywhere in the world. The only provision is to make sure the payment was an account to account transfer rather than payment from the buyer by cheque deposit. For simple money transfers to friends, PayPal is one of the safest platforms out there. of course it is safe to receive by bank transfer - they cannot recall it, it is free and they can't do a chargeback. Bank deposit or Australia Post money order are probably the safest methods of payment currently available when selling and the buyer cannot pay in person. Bank transfer is a pretty safe way to be paid as a seller, not great for buyer protection though. If your bank account is a participating financial institution, you simply log in to your online bank account, navigate to the section from Interac e-Transfers and follow the instructions to add … https://forums.digitalspy.com/discussion/1008535/is-it-safe-to-pay-via-bank-transfer-are-you-protected, From what I make out, a bank transfer is just that, its a transfer of funds with no specific purpose (if that makes sense - a debit/credit card payment has to be authorised by the bank and then sent - a bank transfer is initiated by the account holder), https://www.thesun.co.uk/money/11973908/new-anti-fraud-rules-for-bank-transfers-come-into-force-june-30-heres-how-they-will-affect-you/. Personal cheques can be cancelled too, but in addition there is no way to know if it will be honoured when deposited in your account. Bank drafts – are not as good as cash, so treat them in the way you would a personal cheque. Obscure the number plates in the photo(s) you use to advertise your car. Sometimes it takes from a couple of hour to a few days for the amount to show up in the receiver’s account. I've used wire transfers before as a buyer, and it's been pretty safe for me so far, even with biggish amounts of money. Credit card will be faster, but has higher fees. This is a 100 percent fail-safe way to be paid for both the buyer and the seller. Then it notifies the recipient’s bank and creates a route for the transfer. Cash is the safest, AP money order safe, cash at a bank branch safe, Internet transfer is pretty safe, cheques should be safe, as long as they clear before you send item. or is it once my money has gone to the other parties bank.i cant get anything back.if item is never sent and im conned. 1. VSTAG is an advisory group eBay is part of, whose goal is to share best practices and advice to car buyers and sellers, with a special focus in … However, BT are the least safe method for buyers. 28-09-2013 11:02 AM. https://community.ebay.co.uk/t5/Archive-Seller-Central/Buyer-paying-by-bank-transfer-can-anything-go-wrong/td-p/5276987. Am I reading it right ? Transferring money from your bank account is usually fast, free and safer than withdrawing and paying in cash. Cashier's checks can be forged- PayPal payments can be reversed and disputed- even cash can be counterfeited- but a direct transfer is, literally, money in the bank. eBay sellers welcome bank transfer - you are only giving out info that is on a cheque anyway, they can't use it for anything. Banks or trusted organisations such as the police will never contact you asking for your PIN or full password, or to transfer money to a safe account. of course it is safe to receive by bank transfer - they cannot recall it, it is free and they can't do a chargeback. What is more, money transfer providers make it difficult for the sender to pull money back after it has Whatever the circumstances of the sale, receiving payment by bank transfer is perfectly safe for you. Seller requests payment via bank transfer to an eBay bank account. When making a purchase, be suspicious of any requests to pay by bank transfer or virtual currency instead of safer methods, such as credit card or payment services such as PayPal. As far as I’m aware, faster payments (ie. If a potential buyer asks why, explain how plates can be … The only provision is to make sure the payment was an account to account transfer rather than payment from the buyer by cheque deposit. I contacted Ebay for advice and got this response. (eBay does not ask buyers to pay into our bank account.) https://www.thesun.co.uk/money/9631181/why-not-pay-bank-transfer-scammers-shop/. If possible, it’s a good idea to meet the buyer at your bank to take payment, so you can pay in the money immediately and the cashier will check the notes are genuine. My bank has also indicated it is not safe. money is being transfered from lloydstsb to hsbc in UK anyone have any bad experience using bank transfer. According to this: which.co.uk/con…cam It is possible but according to some other threads it isn't. PayPal is generally safe, especially for buyers. PayPal is generally safe, ... Use a credit card as your funding method instead of a debit card or direct bank transfer (more on that below). The bank that initiates the process then facilitates the transfer through safe electronic methods life Fedwire or Swift. Very one sided protection. Buying a car with bank transfers? The only provision is to make sure the payment was an account to account transfer rather than payment from the buyer by cheque deposit. When making a bank transfer, after you've entered in the name, sort code and account number one of three things may happen. However, BT are the least safe method for buyers. Bank deposit or Australia Post money order are probably the safest methods of payment currently available when selling and the buyer cannot pay in person. Electronic transfer via internet banking; In-branch transfer with the buyer; Cash; You could take a bank cheque; however these are not entirely secure and can be cancelled. https://forums.digitalspy.com/discussion/1008535/is-it-safe-to-pay-via-bank-transfer-are-you-protected, From what I make out, a bank transfer is just that, its a transfer of funds with no specific purpose (if that makes sense - a debit/credit card payment has to be authorised by the bank and then sent - a bank transfer is initiated by the account holder), https://www.theguardian.com/money/2011/mar/30/protect-money-buing-house-cash. The bank that initiates the process then facilitates the transfer through safe electronic methods life Fedwire or Swift. The only provision is to make sure the payment was an account to account transfer rather than payment from the buyer by cheque deposit. In fact, it may actually be safer than normal bank transfers. 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