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Bank Transfer

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Hello, isit safe to do bank transfer? if i give someone my account number and sort code to transfer money? Does it happen stright away? Do banks charge? Thanks All, Read More
h4x3r Avatar
banned9y, 11m agoPosted 9 years, 11 months ago
Hello,

isit safe to do bank transfer? if i give someone my account number and sort code to transfer money? Does it happen stright away? Do banks charge?

Thanks All,
h4x3r Avatar
banned9y, 11m agoPosted 9 years, 11 months ago
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#1
as far as i know

banks dont charge

usually takes 3-5 days

unless its same bank which is usually instant
#2
h4x3r
Hello,

isit safe to do bank transfer? if i give someone my account number and sort code to transfer money? Does it happen stright away? Do banks charge?

Thanks All,


It should be safe because the bank needs your permission to remove money from your account. BACS transfers are slow about 3 - 5 days, CHAPS are done as fast as the bank press the button.

You should not have to pay to receive money but pay to go out.

Ring your bank to confirm that it is all OK, but if you can trust the other party, you should be OK.
banned#3
I use this method alot. If it is a large amount to somone I haven't sent money to before I transfer a penny first to make sure its right, then the details are stored to send instantly with the full amount (just to be on the safe side). Sometimes instant, sometimes not, depending on the bank.
banned#4
I have never been charged either way.
#5
h4x3r
Hello,

isit safe to do bank transfer? if i give someone my account number and sort code to transfer money? Does it happen stright away? Do banks charge?

Thanks All,

It's very safe. I use it nearly every day to receive money and to pay sellers.
Banks do not charge if it is a UK Pound Sterling Transaction, unless you have a business account.
Same Bank to same Bank (Lloyds to Lloyds, Smile to Smile etc) is within a day, different Bank to Different Bank (Smile to Lloyds, Barclays to HSBC etc) takes around three days.
I feel very comfortable posting my Bank Account and Sort Code on here if that helps.

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#6
dinosteveus
I feel very comfortable posting my Bank Account and Sort Code on here if that helps.

Perhaps a bank statement and credit card information would be better?* :-D

*joke!

On a more serious note, I wondered about BACS to, Aparrently you can only pay money in, Not take it out.
#7
Iom-RF
Perhaps a bank statement and credit card information would be better?* :-D

*joke!

On a more serious note, I wondered about BACS to, Aparrently you can only pay money in, Not take it out.

My Bank Statements are all online as are my Credit Card Statements but the password number is

Yes, you can only pay money into an account with the BACS details.


edit
Oooooops, I forgot to put my password in, tell you what, I'll text it to you.:-D:-D
#8
What options do you have if a BT goes wrong...for example, you pay for something, and you don't receive it. Is there any protection? :?
1 Like #9
birdyboyuk
What options do you have if a BT goes wrong...for example, you pay for something, and you don't receive it. Is there any protection? :?

Off ebay, non. :-( On ebay, Ebays Standard Purchase Protection.
1 Like #10
dinosteveus
Off ebay, non. :-( On ebay, Ebays Standard Purchase Protection.

Ok, so its only wise to do a BT with someone you can trust...cheers Steve! :thumbsup:
#11
birdyboyuk
Ok, so its only wise to do a BT with someone you can trust...cheers Steve! :thumbsup:

Same as any payment method really. If you feel uncomfortable in any way, you should back out of the transaction.
I much prefer BACS to any other Payment method, no fees :-D
banned#12
BACS free? does it work like paypal

thanks all
#13
h4x3r
BACS free? does it work like paypal

thanks all

Yes, BACS is FREE as I've already said.
It's nothing like Paypal.

Who do you Bank with?
#14
Here, have a read of this:-

Banks Automated Clearing System (BACS)
http://www.electronic-payments.co.uk/bacs.jsp

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[COLOR=#0000ff][COLOR=#0000ff][CENTER][COLOR=#0000ff][COLOR=red]Steve's Ebay tips for Sellers and Buyers[/COLOR] :thumbsup: [/COLOR][/CENTER]
[COLOR=blue][B]Reward Websites including Quidco info
[/COLOR] :thumbsup: [/COLOR][/COLOR][/B]

[COLOR=#0000ff][COLOR=black][B]IF YOU THINK A POST COULD BE A SCAM OR YOU THINK IT'S 'DODGY', REPORT IT BY CLICKING ON THE RED TRIANGLEON THAT POST. [/COLOR][/B][/COLOR][COLOR=#0000ff]

[B][COLOR=red]I'M NOT A MOD, [/COLOR][COLOR=blue]I'M JUST A REGULAR POSTER LIKE EVERYBODY ELSE.[/COLOR]
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banned#15
im reading it now i bank with Natwst
#16
If you have online banking or actionline they can do it on the phone for you or you can do it online. If it is Natwest to Natwest itwill go the same day. If it is to another bank it will be with them on the 3rd day.

If it is a large sum of money then would be worth doing a chaps however that is £21 for Natwest to Natwest and then £23 to any other bank - with that the money is there the same day as long as you action it before 1.30 however dependant on the account you have you will need to go into the Bank to arrange rather than on the phone.

Also they won't arrange a BACS in the branch for you - they'd tell you to do it as a chaps payment so if you don't have online or actionline banking you need to set it up!
#17
i had to get a bank transfer and got charged for it.

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