Bank transfer safety....?

Elephant08 :P · 20 Feb 2008 at 12:11

Hello there, basically I have had enough of paypal and I'm in need of selling an item of the value of £750. Is bank transfer the safest payment possible excluding cash in hand? Can it be reversed or anything of a similar nature as I'm quite aware of a lot of people out for a quick buck at the moment and I've read the horror stories on here recently with paypal.

I'm with natwest if it makes a difference

Cheers

Gilly · 20 Feb 2008 at 12:13

Yes its perfectly safe and no it can't be reversed as far as i know. To the point where the bank warn you that it can't be reversed when you carry one out.

Admiral Huddy · 20 Feb 2008 at 12:13

As safe as any other transfer.. No the transaction can't be reversed unless the beneficiary sends a contra payment in return.

Elephant08 :P · 20 Feb 2008 at 12:16

sounds fine then.

platypus · 20 Feb 2008 at 12:20

A payment that is made to pay off against an existing payment, so that only the difference ultimately counts.

Eg You transfer £250 to someone, but realise you only owe £50, so they make a contra payment of £200.

("Contrasting").

DampCat · 20 Feb 2008 at 12:20

He means it can only be "reversed" is the recipient actually physically sends the same amount of money back to you.

Ninja Edit: or what Platypus said.

Elephant08 :P · 20 Feb 2008 at 12:24

Thats great then, paypal is definitely out of the window now. Sounds perfectly safe, 100%