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    Sellin on eBay with bank transfer?

    Am selling a high value laptop on eBay. Buyer has agreed to collect and pay by bank transfer. Is it safe? Any risk of eg months later the money being taken back? Their bank is Natwest.

    29 Comments

    No. I was told by the bank that once the money is in there it cannot be taken out by the depositor again.

    Regardless of what bank it is, if they try and claim the transfer was unauthorised the bank may try and recall the funds

    If they are collecting I would only take hard cash.

    johnwillowlfc

    Regardless of what bank it is, if they try and claim the transfer was … Regardless of what bank it is, if they try and claim the transfer was unauthorised the bank may try and recall the funds



    This is correct, if they claim it was unauthorized it could be returned. The bank has told me this already although I've never had it happen before luckily.

    joshp

    This is correct, if they claim it was unauthorized it could be returned. … This is correct, if they claim it was unauthorized it could be returned. The bank has told me this already although I've never had it happen before luckily.


    It isn't correct . Once it's gone its gone . A bank transfer is instructed by the account holder and therefore cannot be unauthorised . If the customer says they sent it by mistake the bank can request the funds back but they cannot demand the.money back . Worked in banking for many many years so I know my stuff here . I've seen some horrendous mistakes in this field in my time and the bank cannot claim the money back . The transaction is between the two parties and the bank has no power to intervene .

    I agree its a scam
    Say the laptop is £1000 - Then its slightly odd thing for someone to buy a laptop on eBay and want to pay by bank transfer and void all eBay's buyer protection benefits and right to return.... is someone really going be that stupid this day and age and transfer a large amount money for a 2nd hand item into a strangers account without it being a scam

    What a load of rubbish. I know someone who accidentally transferred £7000 into the wrong account and the bank got it back for them. Here are some others:
    newsfeed.time.com/201…il/
    telegraph.co.uk/new…or/

    psychobitchfromhell

    It isn't correct . Once it's gone its gone . A bank transfer is … It isn't correct . Once it's gone its gone . A bank transfer is instructed by the account holder and therefore cannot be unauthorised . If the customer says they sent it by mistake the bank can request the funds back but they cannot demand the.money back . Worked in banking for many many years so I know my stuff here . I've seen some horrendous mistakes in this field in my time and the bank cannot claim the money back . The transaction is between the two parties and the bank has no power to intervene .

    thisismoney.co.uk/mon…tml

    psychobitchfromhell

    It isn't correct . Once it's gone its gone . A bank transfer is … It isn't correct . Once it's gone its gone . A bank transfer is instructed by the account holder and therefore cannot be unauthorised . If the customer says they sent it by mistake the bank can request the funds back but they cannot demand the.money back . Worked in banking for many many years so I know my stuff here . I've seen some horrendous mistakes in this field in my time and the bank cannot claim the money back . The transaction is between the two parties and the bank has no power to intervene .

    Banned

    psychobitchfromhell

    It isn't correct . Once it's gone its gone .



    No its not. It can be recalled.

    I reckon it's a scam.
    Would you pay upfront without seeing a second hand laptop working?
    Hard currency is needed when people collect.

    Apologise to to buyer and explain cash only and give them a receipt.

    Edited by: "cheaperthebetter" 15th Oct 2016

    cheaperthebetter

    Would you pay upfront without seeing a second hand laptop working?.



    Because you don't want to go meet a stranger with £1000 cash on you?

    I would have thought if they can do a transfer they can get the hard cash out the machine or bank. Get them to come and see it working then get them to go and return with the money.

    It *might* not be a scam, but you won't be covered, so don't do it.

    Simple.

    Sounds too risky on several fronts...I wouldn't use bank transfer. Do you have actual proof of the buyer's home address? Mind you, I have stopped using ebay these days, it always sides with the buyer...you could still lose your money if buyer states 'not as sold' etc.

    psychobitchfromhell

    It isn't correct . Once it's gone its gone . A bank transfer is … It isn't correct . Once it's gone its gone . A bank transfer is instructed by the account holder and therefore cannot be unauthorised . If the customer says they sent it by mistake the bank can request the funds back but they cannot demand the.money back . Worked in banking for many many years so I know my stuff here . I've seen some horrendous mistakes in this field in my time and the bank cannot claim the money back . The transaction is between the two parties and the bank has no power to intervene .



    Completely false. If the funds were transferred as part of a fraudulent transaction then the bank will recover them! They even now introduced a policy for people that send bank transfer to the wrong person, they can be claimed back!

    DO NOT BOTHER.

    Cash on collection only

    OR

    Accept only PayPal and post it to them.

    Can you afford to lose the laptop and money? If not, why bother asking - You already know the answer. Cash is king when you are selling (Credit card when you are buying). Paypal/eBay used to be fair, but not now - it's biased towards the buyer.

    Not if it is the 'transferee' that is doing the defrauding!!! lmao

    joshp

    Completely false. If the funds were transferred as part of a fraudulent … Completely false. If the funds were transferred as part of a fraudulent transaction then the bank will recover them! They even now introduced a policy for people that send bank transfer to the wrong person, they can be claimed back!


    Splodger101

    Not if it is the 'transferee' that is doing the defrauding!!! lmao



    That is correct. That's what I am saying (_;)

    Perhaps you didn't read the thread properly. Not sure what's funny.

    Apologies, I thought you were suggesting that "erroneous" bank transfers could be clawed back... what is to stop the buyer saying the transfer was a mistake and wants it recalled? In which case, the OP would be out-of-pocket and minus his laptop. "They even now introduced a policy for people that send bank transfer to the wrong person, they can be claimed back!" oO

    joshp

    That is correct. That's what I am saying (_;)Perhaps you didn't read the … That is correct. That's what I am saying (_;)Perhaps you didn't read the thread properly. Not sure what's funny.




    Edited by: "Splodger101" 15th Oct 2016

    Splodger101

    Apologies, I thought you were suggesting that "erroneous" bank transfers … Apologies, I thought you were suggesting that "erroneous" bank transfers could be clawed back... what is to stop the buyer saying the transfer was a mistake and wants it recalled? In which case, the OP would be out-of-pocket and minus his laptop. "They even now introduced a policy for people that send bank transfer to the wrong person, they can be claimed back!"oO



    I doubt it's as easy as it sounds since the receiver can dispute it but yes, read here: telegraph.co.uk/fin…tml

    Mate, if they're collecting do cash in hand only. Avoid online and bacs as much as you can.

    Original Poster

    So a lot of people recommending against bank transfer. But the bank transfer has already been made. I might have asked for cash but I can imagine how it would make the buyer uncomfortable to carry that much cash on them. Now I'm confused what to do. They've already come and seen the laptop working. And seems trustworthy enough.

    I know that bank transfer is often used for some of the transactions on this site. So is it really that risky? Has anyone personally actually sold an item with bank transfer and had the money taken back later?!

    If they did bring cash what's to stop them bringing exceptionally convincing fake notes, or mixing in a couple of fake notes that I don't notice? Am I supposed to sit there and hold every single note up to the light, feel the texture, etc? It seems a bit awkward. Surely at some point you just have to put it down to trust and call it a day?

    Ignore the peasants, bank transfer is one of the safest ways to accept payment without getting scammed.

    misa426

    So a lot of people recommending against bank transfer. But the bank … So a lot of people recommending against bank transfer. But the bank transfer has already been made. I might have asked for cash but I can imagine how it would make the buyer uncomfortable to carry that much cash on them. Now I'm confused what to do. They've already come and seen the laptop working. And seems trustworthy enough. I know that bank transfer is often used for some of the transactions on this site. So is it really that risky? Has anyone personally actually sold an item with bank transfer and had the money taken back later?! If they did bring cash what's to stop them bringing exceptionally convincing fake notes, or mixing in a couple of fake notes that I don't notice? Am I supposed to sit there and hold every single note up to the light, feel the texture, etc? It seems a bit awkward. Surely at some point you just have to put it down to trust and call it a day?



    ​so you asked for advice then ignored it?

    what was the point

    Original Poster

    adamspencer95

    ​so you asked for advice then ignored it?what was the point



    I didn't ignore advice. I asked the question yesterday and received answers with no clear majority, some were saying bank transfer is safe and others said it isn't. I didn't know who to believe. Today the bank transfer was completed. I didn't realise until afterwards when I checked this page again that I'd received several more answers which said that bank transfer isn't safe.

    Thanks for your helpful advice

    joshp

    Completely false. If the funds were transferred as part of a fraudulent … Completely false. If the funds were transferred as part of a fraudulent transaction then the bank will recover them! They even now introduced a policy for people that send bank transfer to the wrong person, they can be claimed back!


    Unauthorised , fraud , mistake . Make your mind up . These are three different scenarios

    psychobitchfromhell

    Unauthorised , fraud , mistake . Make your mind up . These are three … Unauthorised , fraud , mistake . Make your mind up . These are three different scenarios



    I did make up my mind. I've given 2 separate situations if you read properly.

    1. They can be retrieved if it is part of a fraudulent transaction.

    2. Read the article above, which is for mistakes.

    Where is your advice If you know so much.... X)

    joshp

    I did make up my mind. I've given 2 separate situations if you read … I did make up my mind. I've given 2 separate situations if you read properly. 1. They can be retrieved if it is part of a fraudulent transaction.2. Read the article above, which is for mistakes. Where is your advice If you know so much.... X)


    And unauthorised ? I know about mistakes and I know about fraud . You said unauthorised .
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