Bank Transfer

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Hi all. On Thursday I agreed to sell a camera and be paid by bank transfer. I have never done bank transfer before and have not received payment. Can anyone tell me how long it should take. Regards Charlie.
 
It should be pretty much instant nowadays. Back in 2012 we sold a car to someone, they put the payment through their phone into our account, and by the time I had switched the PC on and logged into my account the money was there.
 
Thanks for the prompt reply everyone I will give him a couple of days to be fair to him thanks again..
 
Tell us you haven't handed over the goods to him yet.
 
charlychuckchuck said:
Thanks for the prompt reply everyone I will give him a couple of days to be fair to him thanks again..
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It can take up to 5 days if they choose the slow option.

Most people transfer instantly but I have come across times when, if they don't tick the correct box, it takes longer to go through the system.
It depends on the bank they use.
 
Why don't you get in touch with the buyer? Just tell him you haven't received the payment and ask if he's sent it?
 
Worth knowing which banks are in question too.
 
DorsetDude said:
Tell us you haven't handed over the goods to him yet.
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MartynK said:
Why don't you get in touch with the buyer? Just tell him you haven't received the payment and ask if he's sent it?
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Goods still with me.
Every time I phone it goes to answerphone. I do not like to converse with machines. Thanks for the varied input I feel easy now. I thought maybe being messed around. Goods packed and ready to go.
 
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Mr Bump said:
Bank of Nigeria? Gumtree?
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Gumtree yes but British buyer and address. Have used Gumtree lots of times both buying and selling without problems. Just never used bank transfer before.
 
Yeah run a mile
 
charlychuckchuck said:
T

Gumtree yes but British buyer and address. Have used Gumtree lots of times both buying and selling without problems. Just never used bank transfer before.
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Best of luck with that. I steer well clear of Gumtree unless it is local and then I will meet up face to face and only somewhere public. There are some strange people around.
 
Keep an eye on your account as well for suspicious activity . If it is dodgy the guy has your account number and sort code and could attempt to gain funds from it by unsavoury means .
 
I don't normally give my bank details to someone from Gumtree. At least on TP or some other forums we have a feedback so it's a matter of trust. I don't know how and if they can withdraw funds from your account but I would keep an eye on it if I was you. Why didn't ask for paypal gift?
 
BigJohn said:
Keep an eye on your account as well for suspicious activity . If it is dodgy the guy has your account number and sort code and could attempt to gain funds from it by unsavoury means .
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How?

I wonder how we managed when we used to pay for everything by cheque :)
 
My old parents like to stick to cheques. They think paying by BIC means writing the cheque with a ball point pen!

But I've been doing 'online' bank transfers since 1990. And, thankfully, not had cheques for 20 years. So I've totally forgotten what it's like to pay or receive money the old way.
kokolino23 said:
I don't normally give my bank details to someone from Gumtree..... I don't know how and if they can withdraw funds from your account.....
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Those details are for paying in, and contain no authorisation to withdraw. Some people are overly worried about this, but, others not. For example, every single business in Germany has it's bank details on it's printed letter paper. So 'anybody' could send them money.
 
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ianp5a said:
My old parents like to stick to cheques. They think paying by BIC means writing the cheque with a ball point pen!

But I've been doing 'online' bank transfers since 1990. And, thankfully, not had cheques for 20 years. So I've totally forgotten what it's like to pay or receive money the old way.

Those details are for paying in, and contain no authorisation to withdraw. Some people are overly worried about this, but, others not. For example, every single business in Germany has it's bank details on it's printed letter paper. So 'anybody' could send them money.
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Thanks for this post I was about to hang myself with all this doom (joke) I have been to the bank and they have assured me that my account cannot be accessed other than to pay in. What I have not said is that I made him provide a scan of his passport for proof of his ID before giving him my details. I think he was probably a messer and changed his mind.
 
BigJohn said:
Those details are for paying in, and contain no authorisation to withdraw. Some people are overly worried about this, but, others not. For example, every single business in Germany has it's bank details on it's printed letter paper. So 'anybody' could send them money.
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Some charities allow you to set up regular donations by DD with just a sort code and account number, so the fraudster could use them to set up a regular donation to Greenpeace.

The money could be reclaimed vis the DD guarantee scheme, of course.
 
You can setup a direct debit with just the bank details.
some banks query them automatically but some don't
 
Mr Bump said:
You can setup a direct debit with just the bank details.
some banks query them automatically but some don't
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As far as I am aware, not everyone that can set up a DD.
 
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Sounds like a messer if his phones going straight to answerphone, mistakes can happen e.g. typing in wrong number etc but all of sudden not being able to get hold of them says it all.
 
If someone sets up a DD on your account (and it wasn't you!) you're covered by the DD guarantee.
 
studioworks said:
Sounds like a messer if his phones going straight to answerphone, mistakes can happen e.g. typing in wrong number etc but all of sudden not being able to get hold of them says it all.
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Could just be someone who filters calls to avoid sales calls as I do. I only tend to answer if I know the number, otherwise it goes to answerphone and I call them back if they leave a message. I am sure I am not alone in doing this.
 
MadWoman said:
Could just be someone who filters calls to avoid sales calls as I do. I only tend to answer if I know the number, otherwise it goes to answerphone and I call them back if they leave a message. I am sure I am not alone in doing this.
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With certain numbers I do the same, generally landlines from London and up north but I was assuming they would of both got each other's number so he would of known who was calling him and if I'd bank transfered a stranger money I'd certainly want to be answering the phone to them.
 
BBR said:
In theory and possibly in law. In reality getting your money back from some banks is almost impossible. I speak from personal experience.
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My experience is entirely contrary to yours, I ended up with the money back from my bank immediately - as soon as I spoke to someone in the branch, then from the recpient that incorrectly claimed it a few days later and after that I told my bank they could have their money bank since the payee had reversed the incorrect transaction.
 
onomatopoeia said:
My experience is entirely contrary to yours, I ended up with the money back from my bank immediately - as soon as I spoke to someone in the branch, then from the recpient that incorrectly claimed it a few days later and after that I told my bank they could have their money bank since the payee had reversed the incorrect transaction.
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With me it was over the phone, very straight forwarded the funds were refunded immediately.
 
charlychuckchuck said:
Hi all. On Thursday I agreed to sell a camera and be paid by bank transfer. I have never done bank transfer before and have not received payment. Can anyone tell me how long it should take. Regards Charlie.
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As has been said Charles, normally fairly instantly, although some banks won't process til next working day and sometimes they do say 2 working days to process it - makes me wonder why though in this day, when some banks are instant (within a hour or so) even late at night...

Has anything arrived yet ?
 
Some banks can take a few days when transferring between different banks, i.e. BoS and Yorkshire, what I do is request the funds are paid in cash into a branch of my bank and it is then instant into your account.
 
andyred said:
As has been said Charles, normally fairly instantly, although some banks won't process til next working day and sometimes they do say 2 working days to process it - makes me wonder why though in this day, when some banks are instant (within a hour or so) even late at night...

Has anything arrived yet ?
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mj4456 said:
Some banks can take a few days when transferring between different banks, i.e. BoS and Yorkshire, what I do is request the funds are paid in cash into a branch of my bank and it is then instant into your account.
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3pm no money.
Putting cash in the local branch sounds best way good idea.
Called in the bank and now assured no danger and the bank fraud department watching my account and this account now blocked from direct debits. Left him a message that deal off and camera now back on sale. Can relax now.
 
BBR said:
In theory and possibly in law. In reality getting your money back from some banks is almost impossible. I speak from personal experience.
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That sounds bad. Usually banks fall over themselves to comply because if they are in breach of the DD guarantee it gets pretty heavy (e.g. you can ask for all payments ever made to be refunded). Presumably their "defence" was that you couldn't prove it wasn't you that set it up?
 
JonathanRyan said:
That sounds bad. Usually banks fall over themselves to comply because if they are in breach of the DD guarantee it gets pretty heavy (e.g. you can ask for all payments ever made to be refunded). Presumably their "defence" was that you couldn't prove it wasn't you that set it up?
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I have two examples. Both some years ago. One was when working in the bank, and your right, you needed to prove that you didn't set it up.

The second one was ironic, it related to PPI, which I said I never asked for, the bank said 'I must have done' and refused to refund. A couple of years later when the PPI scandal broke I got a nice sum back.

I am sure the banks are now trying to be 'pure white' or at least look that way, but before the recent banking crises their sole motivation was profit. The abuses I witnessed ,at first hand, were incredible, I cannot tell you what as I can't prove it, but I do not trust banks at all.
 
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