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    When people say i can pay by BT....

    what does the BT mean, i have paypal but not sure what BT is

    14 Comments

    Bank Transfer

    By Thanks Pay It Forward

    Bank Transfer. It is free and all you do is login to your bank account online and transfer the money into the other persons account by enetering their account number etc.

    I think this is how it works.

    ttsese;1659196

    By Thanks Pay It Forward



    Huh?

    i am so pleased that has been cleared up, thanks for asking, i was wondering the same thing

    Original Poster

    thank you

    Do you have to have an online account to do this ?

    No you can go in to your bank and fill out a little form with the other persons details on

    Banned

    ttsese;1659196

    By Thanks Pay It Forward


    Is that a poor attempt at humour? :thinking:

    Regarding BT, what kinds of things do you need to be careful about, eg to try to protect urself against fraud. are there any pitfalls?

    Teqnophile;1660921

    Regarding BT, what kinds of things do you need to be careful about, eg to … Regarding BT, what kinds of things do you need to be careful about, eg to try to protect urself against fraud. are there any pitfalls?



    Bank Transfer is considered good for the seller and bad for the buyer. The reason being, once the transfer is completed, it is next to impossible to get that money back. From the seller's point of view this is good because they know for certain that they have the money before sending the goods, from the buyer's point of view it's bad because they can get scammed easily.

    As a seller you have to make sure that the money has gone into your account fully. When you check your account, you get two figures "Account Balance" and "Available Balance", you need to wait until the money shows up in your "Available Balance", to know for sure that it has transfered without any problems and you actually have that money in your account.

    As a buyer, because you can not get your money back, you have to be extra careful about checking out the seller and knowing that you can trust them. If buying on here, make sure that you have their home address, and a landline telephone number. Call them up to double check the number is real, and cross reference the name, address and telephone number they gave you with a website such as [url]www.192.com[/url]. If they have given you an eBay ID, then write to that ID as well and wait for an answer, just to make sure it is really theirs. Should anything go wrong, then you can still get your money back through the Small Claiims Court, but you need to have their contact details.

    Spot on ! :thumbsup:


    nightswimmer;1660938

    Bank Transfer is considered good for the seller and bad for the buyer. … Bank Transfer is considered good for the seller and bad for the buyer. The reason being, once the transfer is completed, it is next to impossible to get that money back. From the seller's point of view this is good because they know for certain that they have the money before sending the goods, from the buyer's point of view it's bad because they can get scammed easily.As a seller you have to make sure that the money has gone into your account fully. When you check your account, you get two figures "Account Balance" and "Available Balance", you need to wait until the money shows up in your "Available Balance", to know for sure that it has transfered without any problems and you actually have that money in your account.As a buyer, because you can not get your money back, you have to be extra careful about checking out the seller and knowing that you can trust them. If buying on here, make sure that you have their home address, and a landline telephone number. Call them up to double check the number is real, and cross reference the name, address and telephone number they gave you with a website such as [url]www.192.com[/url]. If they have given you an eBay ID, then write to that ID as well and wait for an answer, just to make sure it is really theirs. Should anything go wrong, then you can still get your money back through the Small Claiims Court, but you need to have their contact details.

    Just a small addition to the above:

    There are different criteria applied to Bank Transfers from both Europe and Worldwide. If you are using your bank to transfer money either into or out of the UK you need to thoroughly check your own bank T&C's and possibly that of the other Bank. High charges can be incurred.

    With regard to UK B/T's some Banks and building societies can get it wrong and try and charge you. Make sure you are using the correct B/T system before you proceed.
    A recent example of this is The Halifax who insisted to another HUKD member that it would cost them £25 (I think) to do a B/T when it should have been free.

    If in doubt, check and check again.

    hottoshop;1660977

    With regard to UK B/T's some Banks and building societies can get it … With regard to UK B/T's some Banks and building societies can get it wrong and try and charge you. Make sure you are using the correct B/T system before you proceed. A recent example of this is The Halifax who insisted to another HUKD member that it would cost them £25 (I think) to do a B/T when it should have been free.



    Yep, there are two different systems:

    BACS - Bankers Automated Clearing Services
    - Free of charge.
    - Money usually takes 4 working days to clear (usually faster than this if you are using the same bank as the person you're sending money to.)

    CHAPS - Clearing House Automated Payment System
    - Costs between £20 - £35 (depending on your bank)
    - Money is transfered on the same working day.

    So like hottoshop says, if you are doing this through your bank, make sure they use the right one and don't charge you.

    Just to confuse matters, a new system is due to be introduced in May 2008, that promises same working day bank transfers for free.
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