Can someone reneg on a bank transfer?

[djxput]

Selling something on gumtree and they offered to pay via a bank transfer.

Is there anything I should look out for in regards to this?

Or is the money safe once it hits my account?

 

[Diagro]

They cant pull it afaik

 

[Paul11]

its safe...

 

[arknor]

safer than any other method bar cash in your hand.
I believe some banks allow a bank transfer to be reversed but only on the day it was sent

 

[Vanquish-Storm]

I always think of this when taking/giving payment, are you not affectively giving somebody else your bank details? What can they do with them?

 

[sid]

They can claim it was unauthorised and therefore get it reversed easily.

 

[aln]

I always think of this when taking/giving payment, are you not affectively giving somebody else your bank details? What can they do with them?

They can send you money. Having the sort / account number shouldn't really help you get anywhere else, though one doesn't typically hand it out for no reason.

 

[djxput]

safer than any other method bar cash in your hand.
I believe some banks allow a bank transfer to be reversed but only on the day it was sent

ahh ya?

ok - well Ill wait one day to send item then just in case.

thanks

 

[Bromhead]

Giving out your sort code and account number shouldn't compromise your details in any way.

 

[djxput]

Giving out your sort code and account number shouldn't compromise your details in any way.

good to know wouldn't want my account drained err not much in it but every little byte counts.

 

[AshD93]

http://news.bbc.co.uk/1/hi/7174760.stm

 

[Basher]

http://news.bbc.co.uk/1/hi/7174760.stm

Was about to post the same!

 

[arknor]

You can only setup a direct debit if you know the persons address and full name?

The only thing you need to give for a bank transfer is your sort code and account number

 

[djxput]

Was about to post the same!

You can only setup a direct debit if you know the persons address and full name?

The only thing you need to give for a bank transfer is your sort code and account number

guess it was good I asked this question - lots of 'fun' stuff I didn't even know about

 

[arknor]

I wouldn't worry about your bank details being known anyway.

people do it all the time in the members market on here, I just bought some xbox games on here the other day and paid the guy with a bank transfer , I've accepted bank transfers on here before as well when I've sold stuff

 

[diamount]

They can claim it was unauthorised and therefore get it reversed easily.

How would you prove it was unauthorized? There are a lot of hoops to jump through to reset your internet banking details.

 

[MooMoo444]

You can easily get the payment frozen by saying its fraud/account compromise. You can't easily reverse it without proof.

 

[MrMoonX]

unless they are using a stolen bank account its hard to get reversed


gumtree and bank transfer I would be wary, generally only do cash on delivery on things like that for safety

 

[Puzzled]

You can only setup a direct debit if you know the persons address and full name?

The only thing you need to give for a bank transfer is your sort code and account number

But if you are buying something, then you are quite likely to give them your address for delivery.

I wouldn't worry about it though, can't see many people being bothered to setup a direct debit when it wouldn't be of any benefit to them.

Just do the usual checks of good feedback and how long they have been a part of the community. (Does gumtree have a feedback system?)

 

[arknor]

But if you are buying something, then you are quite likely to give them your address for delivery.

the buyer does not tell the seller his bank details.

When I bank transfer to my self between different bank branches all I see is

19 Mar 13 MY NAME TFR 384.00 100284.33