Electronic Bank Transfer

[horseshoes]

If I accepted an electronic back transfer for something I have sold on eBay, is there any way that the sender can stop it and I lose the item AND the money. Is it a safe way to accept payment rather than Paypal? Thank you.

[woofgang]

I think the money transfer is safe but you won't get any help if there is any kind of complaint

[milly143]

It also means you giving your bank details to a complete stranger.

[chrissa1]

Once the money is in your account I think it is safe. We have a Holiday Let property and often take deposits and payments into our account with no problems whatsoever.
As to giving your bank details to strangers, you do that all the time with Direct Debits and Standing Orders etc.
There is a world of Security Checks that have to be gone through before you yourself can send money out of your account so it would be very difficult for anyone else to do it.
However it is your risk alone, as woofgang said.

[bednobs]

if you give people your bank details for a transfer, it's no more info than you give anyone you write a cheque to

[chrissa1]

True, true bednobs.

[boxtops]

For eBay, PayPal is very much safer. PayPal keeps your details secure, your buyer never knows your bank details. I use it all the time. I would never give my BACS details to a complete stranger, you don't know what else they might do with it.

[mrs.chappie]

I have made lots of payments by this method, and also received many payments. So far I've had no problems. It's very quick and easy. I think it's great.

I've had no dealings with regard to eBay though. Sorry.

[AlBags]

Safe after showing on your account.
Safe. Millions of transactions are made every day by strangers into others accounts.

[chrissa1]

Strongly agree albags. We couldn't run our business without electronic payments, in and out.

[Hymie]

Nigerian scammers can get the money back – your bank will tell you that the funds have cleared into your account. Sometime later you will be advised that the money was paid in from a fraudulent account and they will take the money back.

If it is a large amount of money that you have accepted (which you cannot afford to loose) – once you have withdrawn your money, close all your accounts with the bank, making it difficult for them to get the money back from you.

[jules77]

As has already been said, everytime you hand over a cheque, or even your debit card, your are giving away your bank account details. Paypal isnt entirely safe either.......a friend of mine sold a laptop via ebay, received the money into her paypal account, let go of the item, and five days later they were reclaimed due to fraud.