Bank transfers - how?

Discussion in 'General Chat' started by T0M, Apr 24, 2007.

  1. T0M

    T0M
    Active Member

    Joined:
    Nov 15, 2006
    Messages:
    1,810
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    51
    Ratings:
    +90
    Planning on selling some DVDs in the relevant 'for sale' forum but not sure whether to accept paypal or bank transfers, if paypal then i'll get stung with their fees which I would rather avoid.

    So, how does BT work; Do I just PM my Bank sort code / account number? and how do I tell if I have received payment as I may be selling multiple items under the one thread? do they have to complete a reference field - if so they could enter their name? How long does payment take to appear?

    Sorry for being so dumb! :)
     
  2. Setenza

    Setenza
    Well-known Member

    Joined:
    Jun 17, 2002
    Messages:
    3,349
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    86
    Ratings:
    +226
    Bank transfers usually take 3 working days (4 for Scottish banks), which is the same as a cheque.

    If you bank online it is a quick process to administer. Funds may appear in your account the same day, but are not available until cleared.

    However, if the the funds being transferred are from an account with the same bank as yours, then it should be done within 24 hours.

    Oh and yes, you will have to send your account number and sort code to your prospective customer. So bang goes your annonimity if thats important to you.
     
  3. Mr_Wistles

    Mr_Wistles
    Distinguished Member

    Joined:
    Mar 11, 2004
    Messages:
    12,109
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Essex
    Ratings:
    +3,035
    The person who sends the payment can attach a reference so you could ask them to add their forum name or the dvd purchased as the reference.
     
  4. T0M

    T0M
    Active Member

    Joined:
    Nov 15, 2006
    Messages:
    1,810
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    51
    Ratings:
    +90
    Xusia Of Delos: Thanks. Answered everything apart from how do I know that an individual has paid, obviously the money will appear (I do bank online) but if there are lots of deposits into my account for the same ammount I need to know who paid what?

    e.g. if I sell three DVDs all priced at £10 and after four days only two deposits of £10 appear I need to know who hasn't paid so I don't send out the goods.

    Thanks.
     
  5. T0M

    T0M
    Active Member

    Joined:
    Nov 15, 2006
    Messages:
    1,810
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    51
    Ratings:
    +90
    Superb! you just beat me to it! :)

    Question answered then!

    I think I will offer both PayPal and BT but ask for an extra 50p per DVD if PayPal is used.
     
  6. Woodywizz

    Woodywizz
    Distinguished Member

    Joined:
    Aug 18, 2005
    Messages:
    12,396
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Manchester
    Ratings:
    +6,132
    Sorry for the off-topic TOM but loving your avatar - very clever :smashin:

    Back on topic - as a Bank Manager then I agree with everyone's answers, however I will add that people could pay in over the counter of your bank and - if they pay in cash - then it will be cleared funds immediately, they would need to ask the cashier to put their forums name as a reference for you.

    Matt
     
  7. Woodywizz

    Woodywizz
    Distinguished Member

    Joined:
    Aug 18, 2005
    Messages:
    12,396
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Manchester
    Ratings:
    +6,132
    Not so, cheques can take up to 6 working days to clear, though the recipient bank will generally start paying interest on it from the 3rd day.
     
  8. Knyght_byte

    Knyght_byte
    Well-known Member

    Joined:
    Nov 4, 2004
    Messages:
    11,033
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    136
    Location:
    Harrow, NW London
    Ratings:
    +600
    you can ask them to get the bank to fax a receipt to you....most banks will oblige....failing that they can fax it to you themselves...
     
  9. T0M

    T0M
    Active Member

    Joined:
    Nov 15, 2006
    Messages:
    1,810
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    51
    Ratings:
    +90
    Looks like i've got all my bases covered now! :thumbsup:

    Thank's everyone ... time to sell !
     
  10. Setenza

    Setenza
    Well-known Member

    Joined:
    Jun 17, 2002
    Messages:
    3,349
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    86
    Ratings:
    +226
    Do you tell people this at parties ;)

    And before you mention pots and kettles (as I work in IT), I always say that I'm a marine biologist............
     

Share This Page

Loading...