topic Re: Is it safe? in Selling

Is it safe?

kopenhagen5 — Fri, 05 Sep 2014 11:09:20 GMT

Just a quickie for all you experts out there.

Have had someone wanting to pick up one of my bigger items tomorrow and do bank transfer while they are here.

Rather sudden IMO.

Lets say I check my balance and funds are there, they leave with the goods, is there some way they can reverse the transaction minutes later?

I have never accepted bank transfer before. TIA.

Re: Is it safe?

foxette-in-sox — Fri, 05 Sep 2014 11:14:39 GMT

No way could someone do a bank transfer and money is instantly in your account unless you were both with the same bank and even then it's debatable.

Cash on pickup Kopes-you should know that, tsk tsk lol

Re: Is it safe?

kopenhagen5 — Fri, 05 Sep 2014 11:17:58 GMT

I know but when we have transferred pays for employees, they often appear minutes later.

And I am all excited about a big sale.

Also it's an awful lot of banknotes for the seller to bring.

Re: Is it safe?

thecatspjs — Fri, 05 Sep 2014 11:18:34 GMT

Combank transfer to most of the big four can be instant or within a couple of hours, but I would never hold my breath, particularly NOT over the weekend.

Re: Is it safe?

amber-eyed-girl — Fri, 05 Sep 2014 11:21:31 GMT

Kopenhagen, a bank transfer can take several business days even if you have the same bank. I would not, personally, want to accept a bank transfer for that reason. Immediate transfer of funds only happens in the movies 🙂 as a rule...one cannot expect it.

the funds will go from the sender's account, and they will have a receipt number. But it will take time for your bank to verify the money is available in their account, for you to get it.

As far as I know, the internet transfer cannot be reversed by the sender, but I would call your own bank beforehand to confirm that, they will be able to tell you for certain 🙂

Re: Is it safe?

digital*ghost — Fri, 05 Sep 2014 11:21:42 GMT

I have had a cash deposit reversed, a buyer paid over the counter at a branch, then reversed the payment straight away, then paid again... I presume they reversed the payment because the first one had no reference, and the second one had their eBay ID as a reference, but it proves that bank deposit (at least at a branch) is reversable...

I personally don't get the opportunity to cancel an online transfer, though, which is how they would have to do it when out and about. It's possible I could contact my bank and say the transfer was unauthorised, but I don't know if they would do anything about that because to perform a transfer, it requires login info and an authorisation code sent to my mobile, (unless a previously saved / authorised destination), so a bit hard to argue "unauthorised".

Probably raises more questions, or at least doesn't really answer yours, but that's all I really know from experience.

Edited to add: didn't think about transfer clearance time as the others have mentioned, makes it very much less than ideal to accept at point of sale.

Re: Is it safe?

amber-eyed-girl — Fri, 05 Sep 2014 11:25:00 GMT

Oh, and congratulations on the sale 🙂

I would check with your bank if it's reversible or not, after what Digi said, definitely

Re: Is it safe?

kopenhagen5 — Fri, 05 Sep 2014 11:25:32 GMT

Yes, you all make good points.

Think I will suggest buyer picks up a bank cheque in the morning before they come.

Many thanks..................and go Richmond tigers.

Re: Is it safe?

horizon1907 — Fri, 05 Sep 2014 11:40:31 GMT

What about if they were to leave a large cash deposit. They could go to an ATM and withdraw say $800.00 ??? That way at least you have them in some control. Just a suggestion. PS Well done. 🙂 🙂

Re: Is it safe?

kopenhagen5 — Fri, 05 Sep 2014 11:42:14 GMT

I think I know why I got the kudos slr sales.

(Notice all smileys are black n yellow)

Re: Is it safe?

kopenhagen5 — Fri, 05 Sep 2014 11:44:06 GMT

Hi Horizon,

They want to pick it up tomorrow, so need full payment.

I have suggested they can get a bank cheque in the morning.

Thanks.

Re: Is it safe?

cherry*135 — Fri, 05 Sep 2014 11:59:53 GMT

Transfers from a business bank account go through quicker than from personal accounts ( on week days at least).

If I transfer money from my bank account to family members account (same bank) it goes straight in there as well (personal accounts). If I transfer to an account I have never transferred to before it can take 24-48 hrs.

Re: Is it safe?

horizon1907 — Fri, 05 Sep 2014 11:55:51 GMT

🙂

Re: Is it safe?

foxette-in-sox — Fri, 05 Sep 2014 12:05:17 GMT

@kopenhagen5 wrote:
Hi Horizon,
They want to pick it up tomorrow, so need full payment.
I have suggested they can get a bank cheque in the morning.
Thanks.

Um Kopes, tomorrow is SATURDAY, so where are they going to get a bank cheque from ?

And bank cheques cost money.

(waits patiently for building society suggestion )

Re: Is it safe?

kopenhagen5 — Fri, 05 Sep 2014 12:09:23 GMT

I know my Commonwealth Bank is open in the morning in a shopping centre.

Aren't most of them?

Just looked it up, only some branches are open.

Thanks am, that makes sense.

Re: Is it safe?

i-love-my-sheep — Fri, 05 Sep 2014 12:07:26 GMT

I've had a regular buyer who pays vis bank deposit and even now, it still takes min 2 days to go through. Yet, if Mum sends me money for say Christmas or birthday, it is there within minutes. Same with a friends charity that I donate to, the money goes straight into her account.

I know my buyer is paying when he says he does because he sends me a screen shot of the transaction details.

Re: Is it safe?

curraone — Fri, 05 Sep 2014 22:20:13 GMT

maybe he has a credit union account - they are open Saturdays

Re: Is it safe?

beach_and_home — Fri, 05 Sep 2014 22:25:01 GMT

Just keep a cool head and don't let the excitement of a big sale cloud your judgement.

If they are unable to give you the cleared funds today, then don't let them take the item today. Just don't. If they have to wait until Monday then so be it.

And, if they do end up giving you cash, make sure you count it out slowly and carefully in front of everyone. Don't let anyone rush you.

And make sure you have someone else with you when they come so that you have another person on your side in case the buyer tries to push you to do something you don't want to do.

Re: Is it safe?

2106greencat — Fri, 05 Sep 2014 23:18:56 GMT

Hey Kopes

Drivers License, Car Rego - record both.

Ask them for a landline number and their address and google white pages while they are there to confirm it matches.

Good Luck, and like beach said - cool head.

Re: Is it safe?

cherry*135 — Sat, 06 Sep 2014 00:45:18 GMT

A bank cheque cost $12 last time I got one (about 18 mths ago).