Bank transfers can't be reversed, so fine to accept a part payment. If the buyer insists, stipulate you will not hand over the title until the check clears. Cashier's checks can be forged- PayPal payments can be reversed and disputed- even cash can be counterfeited- but a direct transfer is, literally, money in the bank. Personal Check After Selling a Car. Hi, I'm wondering if buying via Bank Deposit/Bank Transfer is safe, and if the seller scams me I am able to get my money back, even if I have a screenshot of the a receipt of the money being sent. They know the money is real. Posted 7th Feb 2018. They know the money is real. as per title just wondering if its safe to transfer payments instantly and will ebay protect me incase of a scam and can the bank protect me to? Make sure you count the money. Offer to pay the buyer’s fees for the check. Cons, you hand over money by bank transfer, they have your money within 2 hours, they then forget about you and you get nothing - you now have zero protection, as far as your bank are concerned you have made a bank transfer, the fact that it's based on fraud is neither their problem nor responsibility and there's no way they'll refund you. Red flag #1 asking to pay by bank transfer. my item (maybe,maybe not) and if I don't then I'm out of pocket of $400. am i really protected? However, if your buyer phones his bank tomorrow, he can make arrangements to withdraw the full amount from his bank account in cash, and pick it up before he comes to collect. Do it through ebay, you're protected that way. Cash in full. That's all i'm saying. You fill out a form authorizing your bank to send money from your account to some other account somewhere. Meet the buyer at the bank where he or she has an account. However, you have to provide the buyer with your bank details, which you may not want to do. If the buyer wants the option to pay by money order, follow the same safe-payment guidelines for sellers when accepting a money order as for accepting a check. Bank transfers are changing ... Six major banks are about to introduce new safety measures for people who transfer cash to friends, family, businesses and other payees. What does starting a small business look like step by step? familiarise yourself with the latest version. USA only- Small buisness tax question see details within? Other Reclaiming: Mortgage Fees, Council Tax etc, Pensions, Annuities & Retirement Planning, Report Holiday Deals, Bargains & Special Offers, Martin's Blogs & Appearances & MoneySavingExpert in the News. Do not forget the tme difference either, your seller may be working and cannot respond. or is it once my money has gone to the other parties bank.i cant get anything back.if item is never sent and im conned. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. I need someone who can sponsor me financially so that I can start a small business? I will need your Account name, BSB and Account number. According to this: which.co.uk/con…cam It is possible but according to some other threads it isn't. ... which is guaranteed by a bank. Bank Transfers are common for European sales. The term "wire transfer" is often used for various electronic transfers that aren't necessarily as instant or safe as bank wire transfers, as described above. Selling your used car on your own is challenging enough, but when it comes to accepting payment at the time of sale, you have to keep yourself safe from scammers. Don't do it, the seller may well be genuine, they may be a total con artist - you won't find out however until after you've parted with your money - are you prepared to take that chance? Post Tweet Share Share with WhatsApp Share with Messenger Community Updates. Or, better yet, agree to meet the buyer at his or her bank with the personal check and have the buyer cash it. Is it safe to buy on Gumtree using bank transfer? We don't as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it's rarely made public until it's too late (see the. So my dilemma now is if I pay by bank transfer and mind you I have never purchased from this seller b4, now will I get . Online bank transfers are the best way to get paid, and these can be done quickly via the ‘Faster Payments’ or CHAPS systems. Most businesses that accept payments with PayPal find it to be perfectly safe. 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