Bank Transfer. Is it safe?

[90 B]

Hi guys,

Is it safe receiving payment from an individual who you have never met?

We agreed a deal worth a few quid via email. The client is based in Italy and I don't fancy giving out my bank details willy nilly if your with me ...

Would you offer a bank transfer as a payment option if you do not know the client personally?

Go easy on me ... I'm new to all this.

Thanks in advance.

90 B

[Vixpy1]

We do all the time, the details are on every invoice we send out

[90 B]

Ace! Thanks for the reply.

I'm just petrified of my own naivety! Last thing I want to do is get my identity stolen!

Thanks again!

[grumbledoak]

In short, no. Even 'cleared' is not solid across country borders- the funds can be clawed back even weeks later, depending on the chain of banks/countries involved.

Don't discount the possibility of an honest customer, but do consider how badly you would be out of pocket if it all goes wrong.


ETA- on re-reading, I'm basically answering the first question. It is pretty safe to give out your own details, they cannot easily debit you. But, them taking the goods and not paying is a risk.

Edited by grumbledoak on Tuesday 13th April 00:40

[90 B]

Again, many thanks for the reply.

So if I do not release the goods until the sum of money (the payment to me) has officially been cleared, then it can't go wrong?

90 B

[Mr E Driver]

Ask your bank when it will be safe to send the stuff out.

[grumbledoak]

90 B said:

So if I do not release the goods until the sum of money (the payment to me) has officially been cleared, then it can't go wrong?

No. That was the point that I was rather badly attempting to make. 'Cleared' only really has solid meaning for UK transfers. If the money chain goes through the second/third world it can potentially be clawed back weeks later.

You need to consider the risk of sending the goods and not being paid. Though, as I said, try not to be too cynical about your customer.

Clearer?

[Vixpy1]

Oh and welcome to the irony of money taking a shorter time to travel from the far east to london, than from esssex to London

[90 B]

Crystal clear now. Thank you for clearing that up ...

I think the sum of money in question is too much for me to be messing around with and I don't fancy jeopardizing my chances of the deal going through properly.

May have to go with PayPal again but I can't stand them. You have to " Verify " your account every time you even get near the website itself.

Plus 3% of the transaction goes to PayPal which in essence mean 3% less in my pocket which all boils down to one thing ... 3% less in my savings for a Range Rover, BMW X5 or an M3. Lol.



90 B

[Mr E Driver]

Don't waste your money with payscam.

Go to your bank and ask them for your international bank numbers.

Give them to your buyer and ask him to transfer the money.

Check your account and then ask your bank if it is safe to send the stuff.

It is as easy as that, I have sold stuff lots of times and never had a problem.

[Marcellus]

All of my Revenue is receieved through bank transfers and the majority of transactions are over the "international declarable" value and in currencies from/to EU and Non EU Countries.

Touch wood, I've never had an issue.

I also speak to my bank and ensure that the funds are "cleared and guarateed" before I pay out the other side.. or in your case send the goods.

[90 B]

Hi guys,

Decided to go with the bank transfer. I think the point made about being too cynical about people and clients was a good one.

Not everyone is out to screw you over.

I think it was my lack of knowledge towards the transaction method that alarmed me. After speaking to the bank and a few other trusted people, I have gone for it.

Many thanks to everyone who posted. Much appreciated.

90 B