Bank transfers, risky?

Panter

Just call me Chris...
I'm a big fan of bank transfers when buying or selling through forums. Someone told me that it may be risky though.

If I sell my MTB and have to post it, I assume its safe to send my account number and sort code to a stranger for payment because they can't do anything else with that info, surely?
 

sheddy

Guru
Location
Suffolk
They might be able to set up a direct debit or summat. I think even well known businesses have done this without a signature
 

barq

Senior Member
Location
Birmingham, UK
Individual people wouldn't be able to set up a direct debit would they? I assume you'd be covered by the direct debit guarantee anyway. But presumably whenever you write a cheque you give away your account name, number and sort code.

Reminds me slightly of when I worked in a shop and a customer didn't want me to keep the credit card slip that she'd signed because it had her card number on (they weren't partial back then). I kept explaining that I wasn't trying to con her, but yes we did need those details because that was how we got the money! :biggrin:
 

Membrane

New Member
starseven said:
The only problem is that nobody makes any money from the tranfer.

paypal, visa etc are unlikely to promote that.
Indeed, as someone who refuses to use credit & debit cards or paypal I like to get my online shopping from German shops. Paying by bank transfer ("Vorkasse") is common there and offered as a payment option by most online retailers.
 

Will1985

Über Member
Location
South Norfolk
At the risk of hijacking the thread (although relevant), perhaps someone can help me out regarding the CC jerseys. When you receive money from someone through paypal, do they charge you immediately, or when you take the money OUT of the paypal account and put it in a regular bank account? I only ask, because we have the option of paying for jerseys with paypal, and if all the money was stored on the PP account, I'm hoping that we don't have to pay any fees which puts the price up....

Anyone know???
 
OP
Panter

Panter

Just call me Chris...
Thanks for the replies peeps, appreciated. :biggrin:
 

Pete

Guest
Back to dodgy bank transfers, here's an example which looked particularly risky to us - but it was the other guy taking the risk! We recently needed to book a B&B in France, found a suitable one on the internet and fired off an E-mail. Along came an answer asking us for a 20€ deposit and suggesting we pay it by means of a virement (direct transfer), and attaching their full bank details including IBAN number! To me, a Brit, a total stranger who'd just sent them an E-mail out of the blue. But apparently that's common practice in France, maybe French people are more trusting.

As it happens I sent off a cheque. And no, I didn't keep their bank details!
 
Pete said:
Back to dodgy bank transfers, here's an example which looked particularly risky to us - but it was the other guy taking the risk! We recently needed to book a B&B in France, found a suitable one on the internet and fired off an E-mail. Along came an answer asking us for a 20€ deposit and suggesting we pay it by means of a virement (direct transfer), and attaching their full bank details including IBAN number! To me, a Brit, a total stranger who'd just sent them an E-mail out of the blue. But apparently that's common practice in France, maybe French people are more trusting.

As it happens I sent off a cheque. And no, I didn't keep their bank details!


Hi Pete

You didnt keep his details but sent him yours printed on a piece of paper?
 

Jaded

New Member
Ah, yes.

Sort Codes, bank account numbers, account names, Branch addresses, these cannot be used in a fraud if they are obtained via a piece of paper, as opposed to in an email.

as any fule kno.
 

Pete

Guest
Maybe, maybe not... some of you young'uns may not know this :biggrin: but time was when a cheque - other than hard cash - was the only way to settle a payment. I must have written thousands of them in my lifetime - all with my account details - and my signature - clearly visible on each and every one of them. Methinks I come from a more trusting generation?
 

bonj2

Guest
barq said:
Individual people wouldn't be able to set up a direct debit would they? I assume you'd be covered by the direct debit guarantee anyway. But presumably whenever you write a cheque you give away your account name, number and sort code.

Reminds me slightly of when I worked in a shop and a customer didn't want me to keep the credit card slip that she'd signed because it had her card number on (they weren't partial back then). I kept explaining that I wasn't trying to con her, but yes we did need those details because that was how we got the money! :biggrin:
most companies require a written mandate, but some will do it over the phone - yorkshire water is an example.
 
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