Money transfer questions

Converge · 16 Jul 2007 at 19:35

Hey guys,

Having sold things on a certain auction site before, i've decided i hate paypal, due to the fee's, if i was to choose bank transfer as payment method does this open up a world of issues?

Meaning, does giving the buyer my sort code and account number to use in transfering the money to me open me up to potential fraud?

I would have thought not, as you need the card number, expiry date, security code and PIN number these days for lots of transactions.

Please help, im wary of giving my account number and sort code out!

Martynt74 · 16 Jul 2007 at 19:40

Nah pretty sure they can't get anything from just those as most companies will hand those details out on their invoices.

The only downside is you have no protection if you buy a dud so some people may be a bit wary of paying that way

Converge · 16 Jul 2007 at 19:41

Thanks for the input mate, i think its ok to do myself too thinking about it, any other thoughts guys?

philjayj · 16 Jul 2007 at 23:30

A bit of topic, but I work for a university's debt collection department, and we sent a student an invoice of what he owed us.

The statement had our bank details on so he could make a payment, so he set up a direct debit, except that he used our bank details to settle his bill.

It took us about six months to catch on that we were paying his bills.

Quite genius really.