I have http://www.superbikefactory.co.uk/ coming to buy 2 bikes from me in the morning. One was via bank transfer (my brothers) and my bike i wanted cash. They have just called, said the had no money due to the weekend, and can pay for the other one via Bank Transfer. Is the bank transfer safe? or can the money be taken back out? they have said it will be from a UK account. as its not a small amount, Anyone know Sam
Bank transfers are safe, but make sure it's cleared funds. Recently read if someone who was scammed where they checked to see funds where there, but hadn't noticed it was a cheque deposit....and guess what, 2 days later it bounced. Bank transfers can't bounce or be stopped.
I had a bank transfer for my last bike I phoned the bank to make sure funds had cleared before I let bike go
I did the same when I sold my last bike. I logged on while the buyer was there and saw the funds in my account then phoned the bank to confirm that it was cleared.
Nothing to worry about using BACS. You can reverse them but the process is very strict. You're also dealing with an established business so should have even less to worry about. A mate bought a car that had fake service history from a dealer via BACS. They offered him a refund, didn't do it. He took them to court and won, they didn't do it. He had to prove to the bank using his court papers etc that he was owed the money before they reversed the BACS transfer. Very hard to reverse one without the required proof and justification. Happy selling
