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I know it's been discussed before, and is very safe (for the seller). But what are the conditions (if any?) that a bank transfer can be reversed?
Potentially selling a bike and being paid by it, so a fair chunk of money that I dont want going walkies!
Once credited to your account, that's it. Check with your bank perhaps?
Risk is mostly the buyers, but not entirely. As a buyer I wouldn't pay any significant sum by bank transfer, it's no different to PayPal gifts. As a seller I'm reluctant to be paid by it because I've an aversion to disclosing my banking details to total strangers.
There was a scam thread (about a scam, not scamming the forum) recently where reversal of bank transfers was discussed. I don't know nor can I recall how it was supposed to be done, but the inference was that they can be reversed in certain circumstances, which was news to me.
As a seller I'm reluctant to be paid by it because I've an aversion to disclosing my banking details to total strangers
exactly the same details that are printed on one of those quaint legacy payment things called a cheque. with the exception that there you're giving details to someone you want to pay rather than someone that's supposed to pay you.
no idea about reversing bank transfers though.
I was under the impression that reversing bank payments was an issue, because you can't do it, so if you send the money to the wrong account...
That's what I thought, but on the thread I recall there was definitely a suggestion that they could be reversed. I can't, from memory, explain how.
bank transfers can be reversed.
but by the bank when they discover fraud etc, not a person innocently sending money to the wrong account.
I once had a mistaken transfer into my account by a stockbroker (double paid) but the money disappeared after a few days, unannounced, as quickly as it had arrived.
