Selling items here. BT Payment

Rocket

Rocket

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Tony
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Hi, not quite sure where to place this so hope i have the right place.

I'am considering selling two of my lenses, looking at others selling i see BT used this must be a Bankers Transfer, having never used this can anyone tell me the way it works please..
 
I usually sell or buy items using paypal where offered but if thats not a option then BT or Bank Transfer is simply giving the other party your account number and sort code then they can do a online transfer into your account.

Obviously dont put this information in the thread and only exchange such details if you are comfortable with the member otherwise insist on a cheque.
 
The buyer transfers money electronically from their bank and into yours. Theyneed your account number and sort code although some ask for the account name.

Many banks transfer the money instantaneously, others take a couple of days.

When you have confirmed the payment has been made you send the goods (although I have been known to trust the other person and send them anyway as the trust works both ways really).
 
BalSanghera said:
Obviously dont put this information in the thread and only exchange such details if you are comfortable with the member otherwise insist on a cheque.
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While I agree that you shouldn't put your bank details in a sales thread there is nothing someone eslse can do with your account by just knowing the sort code and account number. They'd also need your full name, address, mothers maiden name and probably a password or two to be able to obtain money from it.

When it was in the news about a load of civil servants bank details being made available by mistake Jeremy Clarkson published his bank details in his colulm in the paper and he apparently had a few hundred pound paid in to his account by lots of people paying in small amounts wanting to see if the details were real.
 
In days of old, actually still today the following information is on every cheque you give out.

Name of Bank and Address
Sort Code
Account Number
Account Name
 
That was something that concerned me with bank details passed by PM, as the PM is (if the option is on) put into an email and sent on, in clear, across SMTP.
 
Thanks all, I understand now...

How can i check if payment has been made. I can view my statement online, how long before it will show..

Also, when sending a purchased item, would this be better as Royal Mail recorded delivery with proof of post ?..

Thanks...
 
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It really depends on which banks are involved. If you are both with the same bank it can happen instantly. Some banks can transfer money within hours and some can take days.

DON'T send out any goods until the money has been received however long that takes and ALWAYS send the goods out by recorded delivery so they can be tracked if they go missing.
 
Rocket said:
Thanks all, I understand now...

How can i check if payment has been made. I can view my statement online, how long before it will show..

Also, when sending a purchased item, would this be better as Royal Mail recorded delivery with proof of post ?..

Thanks...
Click to expand...

Most buyers would want the security and insurance offerred by Royal Mail Special Delivery or for larger items Courier Delvery.

Recorded delivery is only insured for up to £39.
 
Thanks for the replies.
Got the general idea now...:thumbs:
 
-Rob- said:
When it was in the news about a load of civil servants bank details being made available by mistake Jeremy Clarkson published his bank details in his colulm in the paper and he apparently had a few hundred pound paid in to his account by lots of people paying in small amounts wanting to see if the details were real.
Click to expand...

Aah, but also someone set up a direct debit to a charity using his bank details...
 
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