Wire Transfer ?

[boiji]

Have you guys ever considered wire transfer as a form of payment method to the seller. I'm having a bit of confusion with the fraud faq. Can you guys help me out whether it is a safe and fast payment method to get to the seller? thanks

[mainlypostcards]

I've never used it and don't know anything about it. Hopefully someone will come along shortly to give you some advice.

[lofty100e]

Please correct me if I am wrong, but is wire transfer what we in England would call bank transfer. That is that the amount is transferred electronically between the two accounts using the BACS system?

If so, it's security relies on the honesty of the seller, as once paid the amount is impossible (or very nearly so) to retrieve in the event of problems. Personallly I would only use bank transfer with a person who has proved themselves reliable with other forms of payment first.

Also if you are using this as a seller make sure that the account used CAN NOT have direct debits set up on it. As it is very easy for someone to fraudulently set these up due to the non-existant security measures used in British financial institutions.

[SalusLibrorum]

Never never never use wire transfer for anything except sending money to relatives or people you know very well.

It's well known that wire transfer is used by fraudsters, and quite frankly if anyone suggested it, I personally would shut the deal down and blackball the person who asked. Then beg support to remove the neg if it arrived citing the reason why, I would hope that they would understand.

[SalusLibrorum]

Please correct me if I am wrong, but is wire transfer what we in England would call bank transfer. That is that the amount is transferred electronically between the two accounts using the BACS system?

If so, it's security relies on the honesty of the seller, as once paid the amount is impossible (or very nearly so) to retrieve in the event of problems. Personallly I would only use bank transfer with a person who has proved themselves reliable with other forms of payment first.

Also if you are using this as a seller make sure that the account used CAN NOT have direct debits set up on it. As it is very easy for someone to fraudulently set these up due to the non-existant security measures used in British financial institutions.

I was assuming that by wire transfer they meant wire transfer aka Western Union et al.

[e_nviable]

Oh dear ........ For years I've been informing buyers that BACS is my favoured method of payment

I do hope those Sellers I have purchased from during this month's YDC don't feel I'm unreliable or untrustworthy in any way, having asked for their details as I also prefer to pay by this method

e

[bykimbo]

Wire transfer and bank transfer are not the same thing.

[SalusLibrorum]

Oh dear ........ For years I've been informing buyers that BACS is my favoured method of payment

I do hope those Sellers I have purchased from during this month's YDC don't feel I'm unreliable or untrustworthy in any way, having asked for their details as I also prefer to pay by this method

e

I'd be really surprised if they give them to you, if they do, they can't be very security conscious. If you've bought stuff and BACS isn't offered as a method of payment, why would you want to pay by it?

No one should hand out their bank details to just anyone (even a seller on here), it's way too easy to get robbed.

[lofty100e]

Oh dear ........ For years I've been informing buyers that BACS is my favoured method of payment

I do hope those Sellers I have purchased from during this month's YDC don't feel I'm unreliable or untrustworthy in any way, having asked for their details as I also prefer to pay by this method

e

They would be giving you more information if they sent you a cheque (then a copy signature is also sent), so I shouldn't worry about that. I was merely pointing out that if you pay by BT and hit problems it is much more difficult to correct without the seller's co-operation.

Bykimbo: thanks for pointing that out. In that case my answer would be a definite NO. If I remember correctly someone posted some time ago about a seller listin WU as a payment option. Mark came on and asked for the auction number, I am guessing it got pulled.

Although I did ask support for clarification about the accepability of WU and didn't receive a definite answer. But I assume that as Western Union themselves have said that the service is in-appropriate for auction payments; the answer would be no.

[SalusLibrorum]

But one doesn't send a cheque if one is a seller....