[Closed] Selling via bank transfer in person

Would you walk into a. Strangers house with 800 quid in untraceable cash.

Has mugging written all over. Happened to a lad I know buying a van.

I'd say transfer is safer than cash for both parties all day long.

If you live in Harlesden I’m not surprised he doesn’t want to walk about with that amount of cash!!!

how about middle class suburbia wimbledon?

It's fine. These days it's instant. Check your account and don't give him the bike till you see the money in your account.

That's how I bought my last car, good few thousand that transferred immediately.

Just make sure he brings the dongle thing to set you up in his account.

I bought my last car by back transfer, saved taking 6k halfway down the country.

What I would recommend is transferring a small amount (£1 or so) just to add you as a recipient on their bank account. Never had an issue myself, but if you try and transfer a realatively large amount to a new contact, the bank may hold the transaction and start asking questions. Obviously there’s nothing untoward, but if the buyer goes off with the bike, and then claims they didn’t authorise the payment...no money no bike.

N.B. I’m not 100% certain the bank would hold the transaction, but I’d rather put safeguards in place than get bitten.

Wimbledon- no idea !!! 🤔

Off topic but Harlesden isn’t actually the safest place !

Same chance of having the bike stolen once he’s bought and riding it unless he’s in the car in which case £££ is fine !

Most iPhones etc are worth £800 these days

Question from the uninitiated.

Is it possible once a bank transfer has been completed and the money visible in the recipients account for it to be de-transferred or the transaction reversed?

It’s the main way I buy or sell nowadays. Never had a single issue with it to be honest.

N.B. I’m not 100% certain the bank would hold the transaction, but I’d rather put safeguards in place than get bitten.

It has happened to me when the seller insisted on their dippit mother reading the bank details to me rather than me just reading them off card myself. Bank held the funds after 2 unsuccessful transfers! Of course really unhelpfully they don't tell you this and fraud dept doesn't work weekends! But seller let me drive off in car anyway so all was good!

I've recently been through a load of brown stuff as a result of somebody paying bank transfer and then saying they never recieved the goods (they had, were just trying it on for £450).

Short version is my bank account was frozen and not visible on the app. After a few hours of explaining the restriction was taken off and hopefully I'm ok - but it shows that it is essential to do everything you can to make sure the deal is done and goods have changed hands. (edit- and get proof of the transaction)

Yep transfer £1 before hand for two reasons : firstly so you know the details are correct and have the persons details saved. But also so you can see the transaction on their side and have visibility of the start and end bank a accounts.

So they can’t do the old I have not received the money after you’ve transferred over £100s

I sold something on the Classifieds here the other day, the money was in my account within 3 minutes of the guy messaging to say he'd transferred it.

As mentioned, get the details sorted first before the buyer arrives, that way he can just do it as a payment to an existing payee. Get him to transfer £1 now so you both know the details are correct.

Be careful with the transfering £1 business, a lot of banks see this as fraudsters testing the water. I've bought/sold several items for multiple thousands using bank transfer whilst in the house, just make sure to take a laptop or whatever as new payments can't always be set up on a phone. Sometimes can take up to a couple of hours to show in the account though.

Last bike I went to buy using bank transfer my bank declined the transaction, so I paid via PayPal using the same bank account attached and it worked!

Since then I've had someone come to buy a bike off me via bank transfer and no problems. Much better than having a load of cash sat in the house

I bought a bike recently for £2K via bank transfer, I did the transfer on my phone and the seller confirmed receipt of the funds within seconds.

Would PayPal gift work? No fees and it's instant plus you can't get a refund on a gift payment. You can also send links to people so they know your PayPal address is legitimate.

I've done it the other way, bought an oboe (£3k) paid on collection using direct transfer from my account online by iphone. Seller saw the amount pop into their account immediately.

I took £5k in cash once to pick up a motorcycle.
All legit!

Promise 😁

Should be fine either way tbh.

Quite normal these days, buyer is just being a bit of a fanny.

Would you walk into a. Strangers house with 800 quid in untraceable cash.
Has mugging written all over.

Done it many times. If I'd seen their credible advert for the bicycle, spoken to them to sound them out and establish they are a rider and the bike isn't nicked - then it'd be a bit weird to worry about getting mugged by him/her.

I once worked for a major supermarket a bloke wanted to buy 30 grand of champagne, he said he’d pay cash into our bank account as providdd, we did the delivery to store and he came and picked it up in his van after a girl in our finance department checked the bank accounts unfortunately it wasn’t her regular job and she didn’t realise the transaction was a cheque rather than cash receipt..
Long story short cheque bounced ;0)

I was the bearer of bad news when I asked if he’d made payment and I said that don’t look right