bank transfer question

Ok so I have just sold a phone via the classifieds and the buyer can only do bank transfer and I have not got online banking setup as I usually use PayPal.

However I believe its possible for the buyer to pop into any high street bank and pay the money into my bank account that way? Obviously would need my details (account name number and sort code) is that all he would need to pay the money in?

Just a bit wary about giving my details out nobody can take all my money out my bank just from those details can they don't wanna get fleeced not saying the buyer will as he has good iTrader ratings but just always wary about giving bank detaila out.

So yeah in short can the buyer pay for the item that way? And once those funds have cleared I can send the phone?
 

aymank

Well-known Member
Natalie92 said:
Ok so I have just sold a phone via the classifieds and the buyer can only do bank transfer and I have not got online banking setup as I usually use PayPal.

However I believe its possible for the buyer to pop into any high street bank and pay the money into my bank account that way? Obviously would need my details (account name number and sort code) is that all he would need to pay the money in?

Just a bit wary about giving my details out nobody can take all my money out my bank just from those details can they don't wanna get fleeced not saying the buyer will as he has good iTrader ratings but just always wary about giving bank detaila out.

So yeah in short can the buyer pay for the item that way? And once those funds have cleared I can send the phone?

Just sort code and account number , perfectly safe.

BT is what I always use and online banking meaning its usually instant .

As for PayPal ... Now they are are a company who fleece millions of people "legitimately" :)
 

nheather

Distinguished Member
Yes he can go into any branch of your or his bank and pay the money over the counter - would be more efficient to do it in a branch of your bank.

Also he could do it from the comfort of his own home. The fact that you don't have online banking set up doesn't matter - it is the buyer that needs it not you.

Cheers,

Nigel
 
Thanks for the help guys appreciate it. Quick question and I know it sounds dumb but the.'account number' I send is that the 8 digit number or the lomg 16 digit one? Never done BT when selling things before always used paypal thought I had to have online banking set up haha
 

Chox1988

Distinguished Member
Thanks for the help guys appreciate it. Quick question and I know it sounds dumb but the.'account number' I send is that the 8 digit number or the lomg 16 digit one? Never done BT when selling things before always used paypal thought I had to have online banking set up haha

account is the 8 digit, sort is the xx-xx-xx, 16 digit is the card number- keep that one to yourself :)
 

PoochJD

Distinguished Member
Hi Natalie,

One thing I would recommend, is that once the funds are in your account, transfer them to another one, if you can.

The reason for doing this, is to stop the buyer of your phone initiating a reverse-transaction with their bank, and submitting a claim that you've never sent the phone, (when they have already received it), and recovering their money as well. (A typical and often-used manner of fraud, that occurs when people buy iPhones over the internet, so that the buyer ends-up with both their money back and your iPhone. :( )

Oh, and don't send the phone out to your buyer without using some kind of recorded or signed-for service, that also guarantees the cost of replacing the phone (or has insurance). No matter what the buyer asks or demands, use an insured and trackable service, even if it costs you more.


Pooch
 
Last edited:

ProgUK

Active Member
Hi Natalie,

One thing I would recommend, is that once the funds are in your account, transfer them to another one, if you can.

The reason for doing this, is to stop the buyer of your phone initiating a reverse-transaction with their bank, and submitting a claim that you've never sent the phone, (when they have already received it), and recovering their money as well. (A typical and often-used manner of fraud, that occurs when people buy iPhones over the internet, so that the buyer ends-up with both their money back and your iPhone. :( )

Oh, and don't send the phone out to your buyer without using some kind of recorded or signed-for service, that also guarantees the cost of replacing the phone (or has insurance). No matter what the buyer asks or demands, use an insured and trackable service, even if it costs you more.


Pooch

Have heard of people doing this if paying with paypal but not bank transfer?
 

gavpre

Active Member
When sending a phone, please send it by special delivery (insured, tracking, signed for) if using royal mail, as recorded signed for does not cover mobiles and valuables regardless of how much they are worth.
 
D

Deleted member 27989

Guest
So there are no dangers at all associated with someone knowing your address, you bank details etc...Surely that is enough information to apply for all sorts or set up a DD in your name etc...

I'm very wary of it having been a victim of bank fraud twice this year alone. I don't give any more details out...Or am I overreacting?
 

FZR400RRSP

Banned
dejongj said:
So there are no dangers at all associated with someone knowing your address, you bank details etc...Surely that is enough information to apply for all sorts or set up a DD in your name ?

Jeremy Clarkson famously once gave his bank account details out in a newspaper, so convinced was he that the system was safe and all people could do was pay in, not take out.
Someone set up a DD for £500 to Diabetes UK.
:)
Google 'Clarkson stung after bank prank'
 
Just sort code and account number , perfectly safe.

Actually, to do a BT you will need the Recipient's:

1. Name with Initials: AB Smith
2. Bank Sort Code: XX-XX-XX
3. Bank Account Number: 8-Digits

Just to reassure you, all of this information is on any and every cheque that gets written out.

If the giving out of this information was 'unsafe' then no one would ever pay for anything by cheque.

These days a BT will go by 'Faster Payments' and from start to finish will usually take less than 2 hours. More often than not a Faster Payment is 'virtually instant'.
 

IronGiant

Moderator
It's optional and more for the payers records than security.
 
D

Deleted member 27989

Guest
Jeremy Clarkson famously once gave his bank account details out in a newspaper, so convinced was he that the system was safe and all people could do was pay in, not take out.
Someone set up a DD for £500 to Diabetes UK.
:)
Google 'Clarkson stung after bank prank'

That is exactly my thinking....and as I said before I've it happen twice (still don't know how) to me this year. The bank was good and refunded quickly, but still the shock of being thousands lighter was not pleasant.
 
D

Deleted member 13294

Guest
FZR400RRSP said:
Jeremy Clarkson famously once gave his bank account details out in a newspaper, so convinced was he that the system was safe and all people could do was pay in, not take out.
Someone set up a DD for £500 to Diabetes UK.
:)
Google 'Clarkson stung after bank prank'

That wasn't really a big deal. The Direct Debit guarantee would return your money immediately on telling your bank.
 

DPinBucks

Distinguished Member
agreed - some systems even allow you to put in a reference for your own purposes

some *even* make it clear which is which :)

Why they can never say:

Enter what will appear on their statement ______
Enter what will appear on your statement ______

is a mystery :)
I agree. A few banks let you do the first, but not mine (LLoyds TSB). It's a damn' nuisance.

Some payees quite reasonably ask you to enter the invoice number or reference on each transaction, so I have to set up a new payee every time, which these days means an automated phone confirmation. Luckily, I have negotiated a fixed reference number with most suppliers, but this is yet another nail in the coffin of my relationship with LTSB. With any luck I'll be one of those transferred to the Co-op (or is that a frying-pan-fire situation?)
 

simonblue

Distinguished Member
So there are no dangers at all associated with someone knowing your address, you bank details etc...Surely that is enough information to apply for all sorts or set up a DD in your name etc...

I'm very wary of it having been a victim of bank fraud twice this year alone. I don't give any more details out...Or am I overreacting?

I do this quite a lot,not had any problems so far,their are other check my bank does,that only i know.

I am with the co-op :)
 
Ok well i gave the buyer my sort code name and 8 digit account number and he paid yesterday checked my bank and the money had gone in so i am ok to send the phone now via special delivery?

I've never heard of someone being able to reverse a transaction via a bank transfer?, i thought that was just through paypal?, as they are putting money directly into your account?
 

vinny41

Well-known Member
I do my BTs online and have never had to put in recipient name.

some banks do require the recipient name as they will cross check to confirm that the name matches the account number and sort code
without the name you could be putting the money into someone else's account if a single digit on the account number is incorrect and its a nightmare to get money returned
 

Mr Noble

Distinguished Member
Ok well i gave the buyer my sort code name and 8 digit account number and he paid yesterday checked my bank and the money had gone in so i am ok to send the phone now via special delivery?

I've never heard of someone being able to reverse a transaction via a bank transfer?, i thought that was just through paypal?, as they are putting money directly into your account?

depends how it was funded if it's a credit card it can be reversed almost immediatly, personally i think you are worrying over nothing ;)

the money's in your account so your now able to send the phone if it's over £45+send special delivery :smashin:

if people were going to start doing chargeback's i'd rather they did it via bank instead of paypal , at least you know with your bank there is a chance you will get your cash back without jumping through hoops :rolleyes:

I've just had a buyer of my 3D glasses that i sold a while back on ebay reverse the paypal payment on the 44th day,scamming cow bought some cheap sunglasses on her account and tried to tell paypal that i sent her those instead.

A few calls to paypal though offering all evidence to the contrary and my momey was back in, some people just a shame i can't NEG the fool :mad:
 

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