Safest way to purchase

merv

merv

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Thinking of selling some gear but not sure what way to ask for payment. Does a BT (bank transfer) mean giving out my sort code and account number? Where I am (N Ireland) cash from a mainland buyer would not be practical while a cheque takes quite a time to clear. Have already posted this thread but have lost it!! Maybe it was removed or moved by a moderator, dont know. merv:bang:
 
Thanks Carl. Does that mean I have to give my sort code and bank account number to the purchaser? merv:)
 
merv said:
Thanks Carl. Does that mean I have to give my sort code and bank account number to the purchaser? merv:)
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Yes, if you're uncomfortable with this, you could set up another on line account specially for your selling deals ?

Alternatively there is PayPal as has been suggested.
 
And what's wrong with giving out your sort code and account number to a seller?
 
Does that mean I have to give my sort code and bank account number to the purchaser?
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Yes, but that information is also on a cheque and before the online banking thing started we were happy using them
 
tijuana taxi said:
Yes, but that information is also on a cheque and before the online banking thing started we were happy using them
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Maybe, but bank fraud/card cloning etc wasn't a rife back then, and with the likes of Facebook etc, a lot of our other details are available online if you look hard enough

I wouldn't want to give out any banking details, Paypal all the way
 
Most fraud comes from details extracted by cloning a card from a card machine or by misuse of 'complete' details (e.g. card + 3-digit security code) used on websites.
Although it is theoretically possible to misuse sort/account codes it is much less likely.
Another option would be to use an Escrow Service but there is a charge for this.
Remember too that Paypal (or similar transaction sites) would hold details of your bank otherwise they would not be able to transfer the funds to you.
 
there is a charge for paypal, but not if it is done as a paypal gift
however, then you are except from their protection
there are other items, for example PINGIT with barclays?
not used this myself yet, but you would need to give your bank details to barclays, not a random punter on the internet.
if that's any better I don't know :p depends who their CEO is at the time
 
Oh, good grief! :bang:

Give them your sort code & account number. What's the worst that can happen? They may pay money into your account.

Get real people.
 
And even after a cheque has 'cleared' it can still be reversed up to a few weeks later by the bank.

That is how a lot of cheque fraud happens.

The cheque is initially cleared, (and sometimes you spend the money) and then find that it has been reversed by the bank and you are left out of pocket.

BT is just as safe as any other method. Even with cash you may be given forged notes, plenty of those floating around.

I, any most other people, have no trouble with BT.
 
I see all of your points of view. I do see that when you hand out a cheque your sort code and account number are on it so whats the difference. To access your online account you also need a password and access code so there is no way an intruder will have that.
Reference PAYPAL to get the money into your bank account you need to give the same data to PAYPAL. If I sold a camera at a couple of grand I wonder howmuch Paypal would charge for receiving the payment?
Easiest way to sell would indeed look like giving ones sort and account number is the easiest way. Thanks all for comments. merv:bang:
 
Have been doing more general reading on this on the internet. The most popular opinion is that nobody can withdraw money from your bank account using sort code and account number only - they can only pay money in. ebay and paypal have cost issues although paypal does seem to be very secure.
Will probably go for bank transfer (that is if anyone wants to buy my stuff)
merv:bonk:
 
3.4% + 20p, unless it is a Paypal Gift, in which case there are no fees, but no protection either.
 
And yet how often to we 'trust' more significant details with telephone purchases? You verbally give your credit/debit card number to a salesperson (including 3 digit number on the card inverse). They usually repeat it all back to you as well - everyone in earshot could hear.

Seems to me if you want to use these features you have to accept the risks.
 
or cover the risk through your bank or something like Sentinel Gold.
 
Yes Barry that is very true about giving card number AND the important security code over the phone. :)
 
2blue4u said:
I think you'll find there's a world of difference between providing the information to a single seller - or publishing it in national newspapers ;)
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In fairness you did say what's the worst that can happen. Unlikely I know but you might be selling your pride and joy to the same bloke that stitched Clarkson up :D

(as an aside I would have no hesitation in giving out my bank details to a buyer)
 
BT for me, there is simply no justification in Paypal charging 3.4 % for what is an electronic transfer, and not even instant at that!!. I would like to know the total amount of other people money they have on account at any one time which in itself will be earning interest for them!

I loathe Paypal and avoid it if I can.

Rant over......:D
 
I think you have convinced me - BT
 
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