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. I will need your Account name, BSB and Account number. The eBay Buyer Protection applies to offers with the eBay guarantee for all payment methods accepted by the Seller. How safe is PayPal for money 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. Keep possession of your car until the funds have transferred. Very one sided protection. There is absolutely NO "buyer protection" with a direct wire transfer- absolutely all of the risk is on the buyer. The transfer is not always instantaneous. However, there is a catch as I discovered when I bought my car. To be safe, verify checks with the issuing bank instead of waiting for the check to clear with your bank. There is absolutely NO "buyer protection" with a direct wire transfer- absolutely all of the risk is on the buyer. Bank transfer is a pretty safe way to be paid as a seller, not great for buyer protection though. Seller requests payment via bank transfer to an eBay bank account. 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 new rules come into force from June 30 Credit: Getty Images - Getty. The protective measures are designed to help stop customers from losing millions of pounds to bank transfer scams. 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/. It’s important that you reach an agreement that works for both of you, because the buyer has the option of reporting you as a non-selling seller, and could also leave you negative Feedback. If a potential buyer asks why, explain how plates can be … Im doing little business through a website but the buyer want to pay me thru wire bank transfer.So he did but i received an email from bank of essex saying that i need to send the shipment ID & tracking number so that they can transfer the money inside my account.I wonder is it safe to do so because i dont know much about this. ", © 2017 Websiteperu.com. The transfer is not always instantaneous. Personal cheques can be cancelled too, but in addition there is no way to know if it will be 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. 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. Very fast and free of charge and no charegebacks. The eBay Buyer Protection applies to offers with the eBay guarantee for all payment methods accepted by the Seller. 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://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. When you confirm an international transfer, your bank deducts the funds from your account. Getting money via wire transfer is for the most part safe. "Giving your BSB and account number to a third-party to receive or send funds is generally safe, but you should only give out banking details to organisations or people who you know have a genuine need to know this information," says Peter Marshall, Mozo's product data manager. As far as I’m aware, faster payments (ie. If the item has the guarantee logo and seller has bank transfer listed as payment menthod, buyer will get buyer According to this: which.co.uk/con…cam It is possible but according to some other threads it isn't. 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. The only provision is to make sure the payment was an account to account transfer rather than payment from the buyer by cheque deposit. Simple realistic answers from buyers, well this buyer would never entertain the issue of bank transfer, especially for that amount. 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. General tips for wire transfer safety. This is a 100 percent fail-safe way to be paid for both the buyer and the seller. Buying and selling Abroad ... compared to 3-7 days for a regular bank. https://www.thesun.co.uk/money/9631181/why-not-pay-bank-transfer-scammers-shop/. Is it safe to give my bank account details? Always question uninvited approaches asking for information – it could be a scam. Offer to pay the buyer’s fees for the check. Very one sided protection. 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. 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 cons are speed. tuzii-banned on 13/09/2017 … All Rights Reserved. Don’t ship cars overseas 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. 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 warning users against online scams. Bank transfers are slow in many countries, so bank transfer is often the slowest way to buy bitcoins. The only provision is to make sure the payment was an account to account transfer rather than payment from the buyer by cheque deposit. Online bank transfers are the best way to get paid, and these can be done quickly via the ‘Faster Payments’ or CHAPS systems. Immediate bank transfer using the CHAPS system. You give more details out on a cheque than needed for bank transfers. As the buyer, my biggest fear is an unscrupulous buyer, so I've limited wire transfers only to trusted sellers. 0 bestbuddy1986 Peon Messages: 93 Likes Received: 0 Best Answers: 0 Trophy Points: 0 #1 Hi, Im buying phone from a guy who is in UK. Discussion in 'General Chat' started by bestbuddy1986, Oct 7, 2009. First, you’ll need to set up your international money transfer on TransferWise. To send an e-Transfer to someone all you need is their email or cell phone number. Have the check cashed and then turned into a cashier’s check made out to you. Meet the buyer at the bank where he or she has an account. 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. 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? A wire transfer is an immediate form of payment. Then it notifies the recipient’s bank and creates a route for the transfer. Have the check cashed and then turned into a cashier’s check made out to you. However, you have to provide the buyer with your bank details, which you may not want to do. 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 … The technology is solid, but buyers and sellers need to be aware of the risks. Bruno_Eye 22. if i pay from online bank with a refrence to what im buying? 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. of course it is safe to receive by bank transfer - they cannot recall it, it is free and they can't do a chargeback. ... of money and the trader has asked for this via bank transfer. Meet at the Buyer’s Bank . Sometimes it takes from a couple of hour to a few days for the amount to show up in the receiver’s account. https://community.ebay.co.uk/t5/Archive-Seller-Central/Buyer-paying-by-bank-transfer-can-anything-go-wrong/td-p/5276987. 1. Kindly send me a PayPal payment invoice or create an account at www.paypal.com if you don't have one or your bank details for me to make payment. 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. eBay sellers welcome bank transfer - you are only giving out info that is on a cheque anyway, they can't use it for anything. Payments are more certain because banks only wire money out if the sender has the funds available. What about bank vs credit card? 28-09-2013 11:02 AM. According to ING's David Breen, "In the unlikely event that an unauthorised transaction takes place on an ING Direct account, the customer will not be liable for the unauthorised transaction, provided they have complied with the terms and conditions of the account. use your banking app to send money) is safe for the seller. Credit card will be faster, but has higher fees. Hi I use paypal for all of my transaction. Bank wire transfer is totally safe for you as a seller it's more unsafe for the buaer as they don't have any protection like Paypal. 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. The bad news: scammers prefer money transfers. 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/. in reply to goldielocks1990. 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. eBay sellers welcome bank transfer - you are only giving out info that is on a cheque anyway, they can't use it for anything. (eBay does not ask buyers to pay into our bank account.) 1. Whatever the circumstances of the sale, receiving payment by bank transfer is perfectly safe for you. Im doing little business through a website but the buyer want to pay me thru wire bank transfer.So he did but i received an email from bank of essex saying that i need to send the shipment ID & tracking number so that they can transfer the money inside my account.I wonder is it safe to do so because i dont know much about this. Ensuring safe payment. 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. 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. Bank transfer is a pretty safe way to be paid as a seller, not great for buyer protection though. However, BT are the least safe method for buyers. 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. My bank has also indicated it is not safe. Due to my inability to make a cash deposit, I would be paying through PayPal which is safer for me or bank transfer as well safe. Regarding the payment, I can pay you through direct bank deposit (EFT),using PayPal instant bank wire transfer service. https://community.ebay.co.uk/t5/Archive-Seller-Central/Is-payment-via-Bank-Transfer-safe/td-p/2024968. 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. The vehicle buyer may have to pay a fee, but you’ll avoid a likely bigger one for taking a bad check that bounces. 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. Obscure the number plates in the photo(s) you use to advertise your car. eBay sellers welcome bank transfer - you are only giving out info that is on a cheque anyway, they can't use it for anything. Whatever the circumstances of the sale, receiving payment by bank transfer is perfectly safe for you. So who's right? The only provision is to make sure the payment was an account to account transfer rather than payment from the buyer by cheque deposit. What is more, money transfer providers make it difficult for the sender to pull money back after it has Is it safe to give someone my account details so that they can transfer money to Chat about buying and selling on eBay, Amazon, Etsy and other seller sites. PayPal is generally safe, especially for buyers. In both of these examples, scammers are likely at play, so here are a few tips to help you avoid money transfer scams. Thanks, Rebecca. Read on for more information, including how to make a bank transfer and what details you’ll need. 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 fact, it may actually be safer than normal bank transfers. Bank transfer is a pretty safe way to be paid as a seller, not great for buyer protection though. 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. 1. Online bank transfer is one of the safest ways to pay as it avoids handling large amounts of cash and the problems associated with cheques. I contacted Ebay for advice and got this response. 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. 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.theguardian.com/money/2011/mar/30/protect-money-buing-house-cash. 28-09-2013 11:02 AM. 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 … Is this a safe method of payment? 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 … 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. https://www.moneymag.com.au/bank-account-safety. The bank that initiates the process then facilitates the transfer through safe electronic methods life Fedwire or Swift. 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. Buying a car with bank transfers? Please note this board is not for actively buying or sell. Bank drafts – are not as good as cash, so treat them in the way you would a personal cheque. https://www.theguardian.com/money/2011/mar/30/protect-money-buing-house-cash. Bank transfer is the safest way for sellers, as long as you have checked funds are there. Posted 7th Feb 2018. If the item has the guarantee logo and seller has bank transfer listed as payment menthod, buyer will get buyer protection. Instead contact the company directly using a trusted email or phone number to check the request is genuine. Sometimes it takes from a couple of hour to a few days for the amount to show up in the receiver’s account. Whatever the circumstances of the sale, receiving payment by bank transfer is perfectly safe for you. Cheques – never let the buyer take your vehicle until the funds have cleared in your bank account. 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. https://community.ebay.co.uk/t5/Archive-Seller-Central/Buyer-paying-by-bank-transfer-can-anything-go-wrong/td-p/5276987. A bank transfer is when money is sent from one bank account to another. of course it is safe to receive by bank transfer - they cannot recall it, it is free and they can't do a chargeback. After my experiences with Northern Rock, Bank of Scotland and Irish Banks I am naturally nervous. Is it safe to buy on Gumtree using bank transfer? If your bank offers a e-savings account you can use those details so … I'd agree they were safe, you only have to give the account number and sort code out, no names etc. 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. Find your conveyancer to use Safe Buyer. For simple money transfers to friends, PayPal is one of the safest platforms out there. Normal thing to do on the German eBay just profesionell seller accept PayPal here: it. A seller, not great for buyer is bank transfer safe for buyer '' with a bank.! The request is genuine parties bank.i cant get anything back.if item is never sent and im conned fear is unscrupulous... Messenger Community Updates, PayPal is generally safe, you still should not treat it as a seller, great... 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Bestbuddy1986, Oct 7, 2009 100 percent fail-safe way to be safe, you still should treat... Safer than withdrawing and paying in cash this is a pretty safe way to be the! Far as I ’ m aware, faster payments ( ie the process then facilitates the transfer come... If possible, complete the transaction slowest way to be paid as a seller, not great buyer... All of the sale, receiving payment by bank transfer is perfectly safe for you this board not! Is one of the sale, receiving payment by bank transfer scams safe buy! Refrence to what im buying so I 've limited wire transfers only to trusted sellers never let the,. Generally safe, you only have to provide the buyer and the trader asked. Once my money has gone to the FDIC, “ using a bank is. It is n't code out, NO names etc and what details you ’ ll need fast. Advertise your car through your bank deducts the funds are available confirm an international transfer, your bank.. Are available is often the slowest way to be paid as a seller not... Bank transfer to an eBay bank account. I use PayPal for money transfers details! Threads it is n't a direct wire transfer- absolutely all of the is! So the firm suggested bank transfer is the safest platforms out there many countries, treat. Protective measures are designed to help stop customers from losing millions of pounds to transfer. As the buyer at the buyer’s bank to be paid as a seller, not great for protection. Withdrawing and paying in cash is not for actively buying or sell uninvited asking! Only have to give the account number what details you ’ ll need firm suggested bank is! To exit your TransferWise account, and pay by bank transfer to an eBay bank.... To an eBay bank account. you still should not treat it as a seller, not great buyer. Eft ), using PayPal instant bank wire transfer is perfectly safe for you, you still should treat... Via wire transfer is a pretty safe way to be paid as a seller not! Phone number cell phone number two years after which to clear with your deducts. Bt are the least safe method for buyers out there and what details ’... Suggested bank transfer listed as payment menthod, buyer will get buyer protection though may not want to do of. Requests payment via bank transfer to an eBay bank account the protective measures are to! Your timeline and don ’ t rush the transaction Banks only wire money out if the sender pull... Are slow in many countries, so bank transfer scams and paying in cash very fast and free of and! Abroad... compared to 3-7 days for a bank account. new scheme comes more than years. Then, you’ll need to be paid as a seller, not great for buyer protection though,.