Bank Transfers

[jonathan_ed]

Not sure of this is the correct area for this, but anyway.

Well, i have noticed in the for sales section the number of people wanting to be paid via Bank Transfer.

Few things i have always wondered, first of how do you do it, and secondly i am assuming the sharing of seller and buyer bank details is required...How safe is this? I mean, obviously i look at it as there being a huge amount of trust there, as your giving out bank account details. Or have i just got hold of the wrong end of the stick.

Can anyone shed any light on this?

 

[nilagin]

You just require account no. and sort code. Both of which can be found on any cheque you write, so your not giving away any delicate info. You can only transfer your money to another account not take another persons money to deposit into your own.

 

[TriggerHappy]

They give you the necessary details. You go to your nearest branch and ask that you pay £X into that account, or alternatively you can use an online service such as paypal.
The information needed is name the account is in, the account number (not credit card number or anything like that) and sort code. Totally safe.

Edit: beaten to it!

 

[Uneducated_Rick]

As nilagin said you do not need to give out your details, only take theirs to send money.

Different banks require different info, HSBC ony need sort code and bank account but NatWest (I think, one of my other accounts) need the full name including middle initial if there is one

 

[mmcp42]

yup
I've used it several times
does seem to be safe
money has only ever arrived when I pass info on to others
and when you pay they don't get your details!

 

[lawrie29]

didn't jeremy clarkson publish his details in the sunday times, saying that it was perfectly safe to find that someone had set up a dd to a charity for him?

Not that I am saying it is not safe, but obviously if it can happen to him...

the good thing is though, you would be covered by the direct debit guarantee.

 

[Terrywoodenpic]

They need more than your bank account and sort code to steal your identity.
But they don't even need that when you pay. you need theirs, so no problem anyway.

 

[itsdavedotnet]

didn't jeremy clarkson publish his details in the sunday times, saying that it was perfectly safe to find that someone had set up a dd to a charity for him?

Not that I am saying it is not safe, but obviously if it can happen to him...

the good thing is though, you would be covered by the direct debit guarantee.

haha, well, that is the one exception, it is a special exemption for charities... you can't just set up any old direct debit with it.

But yes, as long as you are 100% sure that you enter the digits etc, it is safe. There is however no comeback if you do enter the details wrong...

 

[Galaxy66]

They give you the necessary details. [[You go to your nearest branch and ask that you pay £X into that account, or alternatively you can use an online service such as paypal.]]
The information needed is name the account is in, the account number (not credit card number or anything like that) and sort code. Totally safe.

Edit: beaten to it!

Or alternatively it is possible to do bank transfers online .