Found 3rd Aug 2009
Just a quick question. If I accept a payment by BACS transfer provided I have allowed the funds to clear into my account does that mean it would be safe to release the goods? Or is there any chance of the funds being returned if the funds have come from a compromised account.

Just weighing up the options available as I have been offered a Bacs transfer for the goods and having been stung by Pay**Pal** in the past, so wanting to ensure that if I say yes that I will have the funds provided I have waited the time period for clearing and not be left itemless and cashless too.

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8 Comments

Supermod

People tend to use BACS as it is free. The bank CAN reclaim a BACS payment.

If I was you I would wait until it is cleared in your account.

wait until your account balance and available are equal amounts - then you know the transfer is complete! would not send goods until money is in available balance! hope this helps love julie xxx

Original Poster

juliesbargains;5926322

wait until your account balance and available are equal amounts - then … wait until your account balance and available are equal amounts - then you know the transfer is complete! would not send goods until money is in available balance! hope this helps love julie xxx



Exactly what I had planned. So there is no chance it could go belly up if I wait the time period of clearing.

Banned

magicjay1986;5926320

People tend to use BACS as it is free. The bank CAN reclaim a BACS … People tend to use BACS as it is free. The bank CAN reclaim a BACS payment. If I was you I would wait until it is cleared in your account.



Not quite right BACS these are not free always. I use this to pay staff wages and each transaction costs.
Once a BACS is made it cannot be withdraw, and it will show(should) show on your account soon as its received as immediate cleared funds.
When a BACS is sent the first you will see is cleared in you account.

:thumbsup::oops::santa:

Supermod

RUDOLF;5926397

Not quite right BACS these are not free always. I use this to pay staff … Not quite right BACS these are not free always. I use this to pay staff wages and each transaction costs.Once a BACS is made it cannot be withdraw, and it will show(should) show on your account soon as its received as immediate cleared funds.When a BACS is sent the first you will see is cleared in you account.:thumbsup::oops::santa:



From what I understand, the OP is wanting to know when it clears in her account can it be withdrawn - you have helped him with the opposite. BACS payments can be withdrawn right up until they reach the recipients account. It cannot be withdrawn when it hits the account.

Original Poster

magicjay1986 - actually mate. I'm a bloke. But cheers for the giggle ;-)

That's exactly what I wanted to hear. Just wanted to be assured that if it was coming from a bank account that I am not going to be left £150 out of pocket and without the phone. Last thing I want to happen is the funds reach my account, I send the item and a week later the bank say. Oh it was fraudulent and then whip the cash from my account and me be left with nothing to show for my efforts.

Supermod

Astec123;5926903

magicjay1986 - actually mate. I'm a bloke. But cheers for the giggle … magicjay1986 - actually mate. I'm a bloke. But cheers for the giggle ;-)That's exactly what I wanted to hear. Just wanted to be assured that if it was coming from a bank account that I am not going to be left £150 out of pocket and without the phone. Last thing I want to happen is the funds reach my account, I send the item and a week later the bank say. Oh it was fraudulent and then whip the cash from my account and me be left with nothing to show for my efforts.



Haha. I have edited my post...:oops:

Banned

magicjay1986;5926658

From what I understand, the OP is wanting to know when it clears in her … From what I understand, the OP is wanting to know when it clears in her account can it be withdrawn - you have helped him with the opposite. BACS payments can be withdrawn right up until they reach the recipients account. It cannot be withdrawn when it hits the account.



Youve not read it right
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