a4gom Posted October 14, 2008 Posted October 14, 2008 As you know I've been selling quite a bit of stuff recently, most of it has been low priced so I haven't worried too much about it and have accepted cheque, transfer, paypal etc but I've a couple of larger valued items, around the £1500 mark which I have had enquiries about. The buyers are both at the other end of the country so will be arranging couriers to collect the goods. As we won't be meeting up cash it obviously out of the question, what is the safest option. I've had money taken back off me before on paypal plus they charge the earth now so I don't fancy that option. I guess I'm left with cheque or direct bank transfer. Is one safer than the other? Will the bank be able to confirm its cleared and guarantee it won't be taken back? If there is no difference I'd prefer them to pay direct to my account as this appears to be faster and it saves my going to the bank. Any advice gratefully received. Quote
JeffC Posted October 14, 2008 Posted October 14, 2008 on higher amounts I ask for cash paid into my bank acount or cash sent by recorded delivery Quote
a4gom Posted October 14, 2008 Author Posted October 14, 2008 cheers Jeff, never thought about cash by recorded delivery, i guess this is probably the safest as I presumably the cash would be mine as soon as accepted by the bank so I could cash it before releasing the goods what sort of protection do they have on the cash would it be insured for the full amount? How much would that cost? How do they pay cash into my bank account? take it to their local branch of my bank? pay from their account to mine via internet banking? Quote
Asterix Posted October 14, 2008 Posted October 14, 2008 How do they pay cash into my bank account? take it to their local branch of my bank? pay from their account to mine via internet banking? Remotely BACS by internet/ phone banking or over the counter services. While we're here, you have set aside space in your diary for the awards do, haven't you? Quote
a4gom Posted October 14, 2008 Author Posted October 14, 2008 As far as I know it should be ok, wifey hasn't started planning next years holidays behind my back as yet.. doh.. Has a date been set? If its not either end of a school holiday we'll be there! Quote
JeffC Posted October 14, 2008 Posted October 14, 2008 cheers Jeff, never thought about cash by recorded delivery, i guess this is probably the safest as I presumably the cash would be mine as soon as accepted by the bank so I could cash it before releasing the goods what sort of protection do they have on the cash would it be insured for the full amount? How much would that cost? How do they pay cash into my bank account? take it to their local branch of my bank? pay from their account to mine via internet banking? no cash cant be insured by post, ive sent it by a courrier before without probs, or I give the buyer my bank account details and get them to pay in cash over the counter, its cleared funds straight away like that Quote
bjnsharp Posted October 14, 2008 Posted October 14, 2008 Get the buyer to pay with a bankers draft, BACS payment or cheque (Wait for cheque to clear) Only an idiot would send £1500 in the post. Quote
Claude Posted October 14, 2008 Posted October 14, 2008 I have gone into a bank (not mine) with cash and paid it over the counter into someone's bank account. This is obviously the recipient's bank. It gets there almost instantly - and there's no charge. Claude Quote
BigDaveUK Posted October 14, 2008 Posted October 14, 2008 I had a bankers draught cleared for about a week before they decided it was a fraudulent one(on the other guy`s part not mine!) and took it out again, that was for £15k too! So i dont trust bankers draughts anymore. Quote
plonky Posted October 14, 2008 Posted October 14, 2008 iv had people pay for things with postal orders for a few hundred pounds and you get the cash soon as you cash it at the post office then you post it. not sure what the limit is tho Quote
tex Posted October 15, 2008 Posted October 15, 2008 online banking transfer is easiest - bacs transfer Quote
Blatman Posted October 15, 2008 Posted October 15, 2008 NEVER take a cheque or a bankers draft. They are NOT secure. Direct payment in to your account by the buyer at their local branch of your bank is an idea...but it's a bad one 'cos they could pay a cheque in so you'd be no better off Over t'internet via the banks on line services is probably the most secure with the least risk. Don't be afraid to give over your account number and sort code, it's useless without th esecurity stuff, and be suspicious of the "I've done you a favour and oaid a cheque in using your account number sort code..." Paranoid? Maybe, but I have never had a single payment issue on anything I've sold, E-Bay or otherwise, for many many years Get the courier company name and docket number for the job too, so you can check that before letting the goods go. Get it at least 24 hours in advance and then let me know. Been in the courier game for nearly 25 years and can spot a scam a mile off... Quote
Crazy Eddie Posted October 17, 2008 Posted October 17, 2008 Agree with Blatters there bankers draft and cheques are hopeless. BACS and cash paid in only thing I accept Quote
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