Bank Transfers

[DeliDave_]

I am selling a motorcycle and buyer wants to transfer the payment into my bank.Once this is done can it be reversed i.e.like a bouncing cheque.The buyer seems a good guy but you never know. Can someone reassure me that it is safe

 

[Damian]

Bank transfers normlly involve transferring cash from one institution to another, and with the correct information are usually secure.
However, it can take 3 to 4 days for the transaction to show up on your account, some are quicker.

I dont think you can rely on anything other than cash itself to be secure (cash as long as it is real and not fraudulent)

 

[Sproket]

I am selling a motorcycle and buyer wants to transfer the payment into my bank.Once this is done can it be reversed i.e.like a bouncing cheque.The buyer seems a good guy but you never know. Can someone reassure me that it is safe

In a word yes it can be reversed

 

[DeliDave_]

I have spoken to him frankly about it and he has transferred it,it is showing on my account but not yet available.I will check that it is all cleared and not let the bike go til then.He seems OK and it is coming from Barclays in Bristol and they seem very nice people but it is a bit scary,especially after I watched that fraud program with old people being conned.

 

[DeliDave_]

I have spoken to him frankly about it and he has transferred it,it is showing on my account but not yet available.I will check that it is all cleared and not let the bike go til then.He seems OK and it is coming from Barclays in Bristol and they seem very nice people but it is a bit scary,especially after I watched that fraud program with old people being conned.I think its even more worryingwith forged cash or breakins,our postcode is quite a high insurance risk and if I have cash overnight we are sure to get burgled

 

[Surfer]

Remember that a cheque payment can be reversed and so can a bank draft. If he paid it in by cash then ther eshoudl be no problem, but be very wary of any other ways of payment. After all who pays for something before they have seen it?

 

[DeliDave_]

Just to clarify,he came up with his wife a couple of weeks ago and gave me a deposit so that I would MOT and tax it.Thanks for the advice.The payment has gone through and is available for me and my wife is going to the bank first thing to check its all OK before I ring him to collect.

Thanks all

 

[plotter]

A bank draft cannot be reversed as it a cheque drawn by a bank on a bank.

 

[Surfer]

A bank draft cannot be reversed as it a cheque drawn by a bank on a bank.

Tell that to the people who have lost money as a band draft can be cancelled the same as a normal cheque

 

[plotter]

Sorry but no it cannot ,because as I repeat it is in effect a cheque drawn by a bank on a bank.Sorry if this is not the answer you want but I can only speak from personal experience drawn ( if you will ecuse the pun ) from both that of myself being both myself and wife being either previously or currently in banking.

 

[RogerL]

Sorry but no it cannot ,because as I repeat it is in effect a cheque drawn by a bank on a bank.Sorry if this is not the answer you want but I can only speak from personal experience drawn ( if you will ecuse the pun ) from both that of myself being both myself and wife being either previously or currently in banking.

Where bank drafts have been stolen, as several batches have been, they can be and are bounced, in some cases up to 14 days after apparently clearing.

 

[Surfer]

Thanks Roger. As you are probably aware this has happened to numerous people on other caravan forums. Also happened to a close friend and he lost close to £20,000 and almost put the business into bankruptcy.

 

[haggarj2]

Only accept cash and go to the bank with him/her once he/she draws it out then pay it straight into your account and give him/her receipt.Safest way.