How safe is bank transfer?

[Batman]

I have been selling outside ebay for example on gumtree also and usually go deliver or get the items collected. I was wondering if bank transfer is safe to accept as a payment method and then post to the person?
I obviously wont be accepting paypal.

[mattytman]

Perfectly safe to ACCEPT a bank transfer. Check names match (sort code is in same area that you're posting to). Great because no fees.

Not particularly safe to SEND a bank transfer to someone because there is no comeback and it's messy to get cash back. This means the amount of people willing to send you a payment via Bank Transfer is not very high.

If you get twenty messages about an item on Gumtree only 10 are actually potentially interested and probably only 1 will pay by bank transfer.

[sax4]

I remember selling a top end smartphone on Gumtree last Christmas. She didn't have Paypal so wanted to pay by back transfer. I accepted of course but told her in future don't do this!

[moneyhustler88]

Bank transfer is safe if your recieveing funds..if sending funds no.

[Batman]

Great! thanks for the replys guys. will start accepting that and hopefully boost up my sales !

[GreenBean]

Bank transfers are OK.

Watch the amount though.

If it is over £300, I would consider splitting the amounts.

Do a thorough check of the buyer. Make sure they are traceable <---> for obvious reasons.

1st hint of silliness, forget the sale.

[mattytman]

If it is over £300, I would consider splitting the amounts.

Interesting. What's the reasoning for this? Harder to charge-back 2 £150's thank one £300?

[GreenBean]

Yes it is.

Think about it.....

two deposits being difficult to disprove as unauthorised

[moneyhustler88]

Yeah greenbean is on point again, that's a very good point espically since banks now watch transactions more thoroughly.

[rsot]

Also make sure you are able to CONTACT the buyer via phone or such - always wait 48-72 hours once amount hits your bank in case of any issues before posting