Bank transfer for item selling on gumtree

djxput · 25 Oct 2016 at 09:15

Im selling an item on gumtree and the buyer wants to pay via bank xfer and have me ship it to them.

Once they pay are the funds secure then ie no taking them back like paypal could?

still not sure if he is 'really' interested have had a ton of people 1/2 interested and not follow through.

Obviously its a bit more risky on the buyers part (he suggested it) but Im just looking to sell the item etc ...

thanks

John40 · 25 Oct 2016 at 09:17

Once it's showing in your account he can't get it back.

djxput · 25 Oct 2016 at 09:19

John40 said:
Once it's showing in your account he can't get it back.

ok thought so but wasnt quite sure ... ty

Jono8 · 25 Oct 2016 at 09:36

djxput said:
ok thought so but wasnt quite sure ... ty

Only way they possibly could is claiming someone else hacked in to their bank account and did it but i doubt most would bother to get involved in something like that as the bank would likely be able to tell if it was the owner of the bank account or not.

I think BT is one of the safest ways to do things.Much better than paypal anyway (for a seller)

antijoke · 25 Oct 2016 at 09:38

John40 said:
Once it's showing in your account he can't get it back.

Jono8 said:
Only way they possibly could is claiming someone else hacked in to their bank account and did it but i doubt most would bother to get involved in something like that as the bank would likely be able to tell if it was the owner of the bank account or not.

I think BT is one of the safest ways to do things.Much better than paypal anyway (for a seller)

Unless the above happens.

Haggisman · 25 Oct 2016 at 09:47

anticonscience said:
Unless the above happens.

Still safer than PayPal though, plus, assuming it was actually the buyers bank account, would the bank not start questioning why the person who hacked it decided to have the item shipped to the owner of the account's home address? I would imagine (hope) that the bank would do a thorough investigation including before just taking someone's word for it!

Greebo · 25 Oct 2016 at 09:49

John40 said:
Once it's showing in your account he can't get it back.

Not true. All depends if he is actually doing a proper "bank" transfer between his account and yours.

There are many ways of transfer money into somebody's bank account like using paypal which can then be reversed later.

Also any bank can recall a bank transfer within 24 hours for a variety of reasons. So it will show up one day when you check and then the next day it will get reversed and removed from your account.

John40 · 25 Oct 2016 at 09:52

Greebo said:
Not true. All depends if he is actually doing a proper "bank" transfer between his account and yours.

There are many ways of transfer money into somebody's bank account like using paypal which can then be reversed later.

I assumed it was a proper bank transfer but if it did come via pay pal you're right.

wedrum · 25 Oct 2016 at 09:53

how much are we talking of here ?

Semple · 25 Oct 2016 at 10:20

As above, it sounds like a lot of faff to try and defraud for the sake of sub £100.

If we're talking in the thousands, then the mentioned scenarios are more likely, you could wait 24/48 hours for the funds to clear, for a bit more confidence.

edscdk · 25 Oct 2016 at 10:27

how to show £24,000 on your account not £240

Greebo said:
Not true. All depends if he is actually doing a proper "bank" transfer between his account and yours.

There are many ways of transfer money into somebody's bank account like using paypal which can then be reversed later.

Also any bank can recall a bank transfer within 24 hours for a variety of reasons. So it will show up one day when you check and then the next day it will get reversed and removed from your account.

My wife put £240 into my account by depositing the money in an envelope and leaving it in one of those unattended things in the bank

she typed 240.00 into the machine, but it does not accept a full stop (you had to move the cursor to the pence field) so she told the machine she was leaving £24000..

the £24k showed on my account for almost a week before it was rectified

we did inform the bank the next day...

a week later she deposited 740.00, and made the same mistake, £74000 showed on my account for almost a week...

this was Santander about 2 years ago

Jamesyboyjim · 25 Oct 2016 at 10:43

edscdk said:
My wife put £240 into my account by depositing the money in an envelope and leaving it in one of those unattended things in the bank

she typed 240.00 into the machine, but it does not accept a full stop (you had to move the cursor to the pence field) so she told the machine she was leaving £24000..

the £24k showed on my account for almost a week before it was rectified

we did inform the bank the next day...

a week later she deposited 740.00, and made the same mistake, £74000 showed on my account for almost a week...

this was Santander about 2 years ago

Might make an anonymous cash deposit into my own bank, key in a few more 0's and see if I can get away with it

djxput · 25 Oct 2016 at 10:54

Jamesyboyjim said:
Might make an anonymous cash deposit into my own bank, key in a few more 0's and see if I can get away with it

lol ...

thanks for the heads up guys - the buyer in question just put a deposit atm but when he pays in full Ill look for the full amount and then give it what 24 hours to make sure it stays.