Giving out Bank details to a purchaser

[thetyreman]

Yes, you have to jumo through hoops (as I would with my bank) but apparently others can set up a DD without your knowledge or permission

not with my bank, it needs my approval, you can't just set up a direct debit without approval from the account owner, and in my case there are several layers of security, which starts with a fingerprint on my iphone, then codes e.t.c. I'd rather have a bank transfer than it go through paypal.

so discussion over then? nothing to worry about

 

[whatknot]

I was thinking more Vera Lynn

Ah, I was thinking of a Bluebird as opposed to a Blue Bird ;-)

White Cliffs and all that

Coniston water?

 

[whatknot]

Yes that was my thought on it

One went on after suggesting using Paypal instead, to say that a transfer by family and friends in Paypal was not only without a fee but was not reversible, which I believe is wrong

Banks will advise against anything just to cover their backsides :lol:

 

[Steliz]

Before I retired I was self employed and I had to invoice my client weekly and I made sure my bank details were always on the invoice to remove the opportunity for them to claim they couldn't 'find' it. I've also handed it out whenever necessary for online purchases and vice versa when I pay other people, if it is the most convenient way. I think this is fairly commonplace and I've never heard of anyone finding mystery DDs on their account.

 

[Phil Pascoe]

With Paypal, they are always on the side of the buyer
If a buyer says they didn't receive it, Paypal will refund it with little or no quibble ...
But the seller will always lose out ...
quote="Geoff_S"]As with all these things, they’re fine until they go wrong. Pay via PayPal, goods don’t arrive, try and get a refund. Good luck with that!
A bank every time for me.

[/quote]

We stopped dealing with PayPal and Ebay precisely because they didn't.

 

[Lons]

Interesting to hear differing views on this.

I've just sold several expensive caravan items on Facebook marketplace after trading in for a motor home, used paypal for 2 of them but insisted the transaction was as a "gift" not a purchase so I believe not reversible, correct me if I'm wrong on that! Both items were being collected so payment was to hold for the buyers.

Another, £500 awning, is awaiting courier collection which she needs to arrange after completing payment by bank transfer as she doesn't use paypal. She has paid me £100 so far and obviously I gave her my details however I discussed that with my neighbour who works for Santander and she said it's as safe as most other transactions we make.

During 18 years as a sole trader I also had my bank details printed on every invoice and needed to give them for every trade account I opened. I think the risks are very small.

 

[Garno]

With how little money I have in my account I could give them my sort code, account number, pin number and secret password (Cabbages) and it would do me no harm.

 

[Lons]

With how little money I have in my account I could give them my sort code, account number, pin number and secret password (Cabbages) and it would do me no harm.

Been there in the past Garno and feel your pain. did make me smile though.
Maybe stick them up on facebook and ask for 50p donations, you never know the cash could roll in.

 

[Phil Pascoe]

Rather like a relative years ago saying to his bank manager - if you persist in speaking to me in that manner, I'll take my debts somewhere else!
I don't think I need worry about anyone hacking my account, either.

 

[whatknot]

As a small follow up to the reason I originally posted

The person wanting to buy from me and asking for my bank details to transfer the sum, I replied asking for name and address and an email address to send a Paypal invoice instead

Nothing heard since , I feel if the enquirer really wanted to buy they would have responded by now

 

[whatknot]

Well would you believe it, no sooner have I posted that and a reply comes via gumtree

So I will take that back and see where it goes

 

[rafezetter]

I just emailed swmbo, who works for Handelsbanken -
If someone has your account number and sort code could they POSSIBLY set up a DD from it?
I'll try to get some more info later, but here's her answer so far - "POSSIBLY".

Apprently Jeremy Clarkeson published his details years ago to prove no-one could do anything with them.... until someone set up a DD to a charity from his account.

Far as I know he let it continue.

just keep an eye on it I guess.

 

[whatknot]

Yes I mentioned the Clarkson one at the start, it was said to be a bank employee who did it for a laugh, Jeremy stopped it

It seems the person who owns the account usually has to go through the full procedure to set up a DD, prove identity etc, whereas a company can set one up themselves, but has to have your authority to do so, without your authority the bank will stop and reverse the DD

It seems an airy fairy way of doing things, but then, the old saying, "if it aint broke, don't fix it" seems to apply

 

[whatknot]

As a sort of end note on why I originally posted

The buyer concerned paid the paypal invoice, I despatched the goods and had a nice message to say everything was perfect

So alls well that ends well

Its been interesting to hear the views of others which seems split about 50/50 as to whether to give out account and sort code

Thanks for all input