Payment By Bank Transfer ?

6
Found 5th Jun 2009
I don't want to sound a total idiot, but how do posters go about this way of payment ? I'm tempted to list some stuff to sell and wouldn't mind payment by bank transfer.

As far as I see it would be as follows:

1) Seller gives buyer bank account number/sort code?
2) Buyer transfers money via online banking
3) Seller gains fund

Is this right ?

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6 Comments

[url]www.paypal.com[/url] is probably the most common as its quick and hassle free and the only details required is an email address

[1) Seller gives buyer bank account number/sort code?2) Buyer transfers … [1) Seller gives buyer bank account number/sort code?2) Buyer transfers money via online banking3) Seller gains fund



Yes. :thumbsup:

and re "Seller gains fund", make sure its in your account before dispatching any goods

Original Poster

Brilliant Thanks !

It doesn't have to be done on-line, if you're with a different bank to the buyer they can also go into a branch of your bank and pay it in over the counter.

As a relatively new member be prepared for people to ask you to send the items first and they'll pay when they arrive as for them BT would be a risky payment option. You of course don't have to agree but it will help you sales if you do. If you do decide to do that check their feedback first and only post first to trusted members with high feedback.

Original Poster

Again thanks for the advice!

I do see the 'problem' with me being a newish member, hopefully my nearly 290 100% posi ebay feedback from mainly selling should put at least some form of trust into people

Bankers automated clearance system (BACS) is the normal cross bank payment method which normally takes 3 working days. There is a rather new "faster payment" system also which would make cross bank payments go through usually within 2 hours (ask your bank if they do this). Both are free services.

To do either you will need only the Sort code and account number of the recipitant.
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