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Old 11-01-2007, 12:01 AM   #1 (permalink)
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Default New seller - wire transfer

Hi

I was wondering if there are any risks involved for the seller if the customer is paying by bank transfer. Also, what exactly is the information they need to send a bank transfer (specifically for UK banks (NatWest)).

The reason I ask is I had one email from someone who wanted me to ship to Nigeria (obviously I won't do it) but offered to pay by bank transfer. What could they gain?

Thanks
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Old 11-01-2007, 12:32 AM   #2 (permalink)
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Identity Theft,Do not give out any banking information to anyone from Nigeria!

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Old 11-01-2007, 12:18 PM   #3 (permalink)
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Avoid giving bank details out.
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Old 11-01-2007, 01:28 PM   #4 (permalink)
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then how do people pay by bank transfer?
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Old 11-01-2007, 02:37 PM   #5 (permalink)
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Quote:
Originally Posted by browser View Post
then how do people pay by bank transfer?
The point that is trying to be made is don't use Bank Transfer and walk away
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Old 11-01-2007, 02:56 PM   #6 (permalink)
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I phoned Halfiax up about this and they said that giving the details out for bank transfer is safe because in order to take money from your account they will need your pin number either from you cash point card, you telephone banking info and pin and also your internet banking passwords.

So that is what came from a Halifax employees mouth.

But I think their is a risk with identity fraud in some way but the general feeling I have is that it is safe for you the seller to receive money but not for the buyer.

Therefore I would check out your buyers legitimacy befroe sending anything.

Anyone back up this Halifax employee claims?
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Old 11-01-2007, 03:51 PM   #7 (permalink)
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well just before christmas we had a large amount of money withdrawn from our business account, and natwest made a big fuss about us accepting payment via bank transfer. They even refused to cover the loss however a nice letter from our legal representative seems to have done the trick although still waiting for the funds to be returned to our account, which takes 6-8 weeks apparently.

Safe it might be for the seller but the bank can refuse to cover any losses if they feel that you provided bank information freely. Well thats what natwest claimed.
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Old 11-01-2007, 06:42 PM   #8 (permalink)
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Not sure about HSBC. I wouldn't give out any bank details to Nigerian buyers. Just can't take the risk.
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Old 15-01-2007, 11:09 PM   #9 (permalink)
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Quote:
Hi

I was wondering if there are any risks involved for the seller if the customer is paying by bank transfer. Also, what exactly is the information they need to send a bank transfer (specifically for UK banks (NatWest)).

The reason I ask is I had one email from someone who wanted me to ship to Nigeria (obviously I won't do it) but offered to pay by bank transfer. What could they gain?

Thanks
They might "flash" your account. This means, they'll temporary deposit a balance in your account so it shows on your account - but the payment will later be widthdrawn. In the meantime, you've sent out the goods to Nigeria. It's a common 419 scam.
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