Cheque vs bank transfer

[PeterStoba]

The guy got back to me, and explained that he is not comfortable with revealing is A/C details which well, is understandable. He seems to favour a collection more than anything, so I guess I'll do that. I have spoken to him on the phone, I did get some pictures (minus the notes - I reckon that he didn't understand my instruction properly - but the date stamp of the file is relatively consistent with the email), and for most part I think that it should be genuine transaction.

But ye know, at the risk of sounding paranoid, I am actually more nervous about meeting someone in person for a transaction. I mean, the worst case that can happen with an online transaction gone wrong is a person running off with my money. The worst case that can happen in a face-to-face transaction.. is actually quite worse. Can anyone relate to this concern or am I the only one with this worry?

I was a bit like this when 2 people collected cases off me though, it was fine though, just opened the door hi, everythings there, bye

[Saracen]

.....

But ye know, at the risk of sounding paranoid, I am actually more nervous about meeting someone in person for a transaction. I mean, the worst case that can happen with an online transaction gone wrong is a person running off with my money. The worst case that can happen in a face-to-face transaction.. is actually quite worse. Can anyone relate to this concern or am I the only one with this worry?

Yeah, I can relate to the concern. All you can do is take as many precautions as possible. I would be far happier about meeting someone at their home (or mine), than meeting up, with a wedge of cash, at a motorway service station or similar. A halfway point cuts down travelling and costs, but hugely increases the anonymity. If you're meeting him at his home, you should be able to some checking up-front ... such as whether he's on the electoral register at that address.

But it isn't unknown for scammers to use fake addresses too. One scam involves hiring a car, renting an address, and selling the car from that address. People think that because they've seen the seller at the address it must be okay, so part with thousands of pounds. Of course, by the time they find out the car is a rental, the scammer is long gone, as is the cash.

Another (obvious) precaution, if carrying a large sum in cash, is don't go on your own. Got a large mate or two?

[Butcher]

But it isn't unknown for scammers to use fake addresses too. One scam involves hiring a car, renting an address, and selling the car from that address. People think that because they've seen the seller at the address it must be okay, so part with thousands of pounds. Of course, by the time they find out the car is a rental, the scammer is long gone, as is the cash.

Surely the lack of a V5C would be a warning sign there? Or are some people really that stupid?

[Saracen]

Surely the lack of a V5C would be a warning sign there? Or are some people really that stupid?

It's on the way from DVLC because we've just moved. We've only been here a little while, and that's why we're selling the car - we need the money to do up out new home.

And yes, they are.

[moogle]

Oh, and it might just be a generational thing. Typically (though there's a LOT of exceptions), younger people are happier with online transactions, payment by bank transfer, etc, than older ones. Maybe it's just a comfort-zone thing.

It is
Well for me anyway. It's also a lazy-ness and ease-of-use thing I'd say. Could also be that we're more lax because most likely you or the (I'll try and put it nicely so I don't make you lot sound old, my synonyms aren't that good ) venerable generation have much more money in that bank account than we do in ours

I don't know about anyone else, but if some anonymous bloke walked in off the street and asked my bank for my account number, and they gave it to him, I'd change banks. I'd be furious if they so much as admitted I had an account there without my permission.

I would also think that disclosing such information in that way would be an obvious breach of the Data Protection Act.

I agree, if the system wasn't so silly as to let someone setup a direct debit with your details with them considering a "tickbox" to be of equal or similiar value as your signature then maybe we all wouldn't be so worried about passing the details out.

Would it make you less paranoid if you had a different set of codes that you could pass on to buyers that would only allow payments into the account?

[Butcher]

It's on the way from DVLC because we've just moved. We've only been here a little while, and that's why we're selling the car - we need the money to do up out new home.

And yes, they are.

I may be misremembering, but don't you keep at least part of the V5C even when you move?

But yes, some people will buy any line fed to them I guess, especially if the car seems really cheap (which it would no doubt).

[TooNice]

Kind of awkward, unless I am doing it wrong, the electoral role doesn't come up with anything. A telephone search on BT doesn't give me anything of use either. I do have a bit of a concern that the address I am given is about 9-10 miles from the city center in a countryside-ish area.

I am not sure what the other party might think if I decide to bring a 'bodyguard' friend (as much as I could use one).

I have this little idea - I am not sure what the seller will think of it, but objectively, I reckon that it is a balanced solution. Meet I'll meet him at his place to check that everything is in order, go together (with the goods) to the bank where I withdraw the money, and make a transaction there. From there, I can walk to the train station (just 0.5m). From a transaction perspective, I think that it is as safe as I can make it. It's extra hassle for the seller, but then again, I am the one who is travelling long distance.

There is still not a whole lot I can do to absolutely guarantee my own personal safety, but I suppose that objectively the idea that someone would set up a sale on a forum to lure someone into his house with the purpose of causing harm is.. somewhat far fetched.

If any of you were to sell something, and the buyer suggest what I just did (view -> bank -> exchange), would you consider it fair play and go along with it?

Edit: I am more or less with Moogle in regard to bank transactions (for receiving money at least). There is the convenience aspect, and it's not outside my comfort zone. And there is also the (possibly misguided) idea that if things go pear shaped (e.g. someone use the details to get money out of my account without my permission), that I can hold my bank liable.

[moogle]

If any of you were to sell something, and the buyer suggest what I just did (view -> bank -> exchange), would you consider it fair play and go along with it?

I would, but me being me I'd have it paid into my bank account there as I wouldn't want to be going home with a large amount of money.

When I sell most of the time I usually meet up at the train station or in front of the police station
Just not when it's big amounts of money though.

Never had anything gone wrong and even when someone brings a "bodyguard" to my house it's not that bad. Bit intimidating but apart from that it's fine (all IMO of course ).

[TooNice]

The great thing about banks, is that they tend to be clustered together. I just had a look, and it looks like his bank is just right across mine (it's one thing that I asked on the phone). It *seems* to be of mutual benefit.

[moogle]

The great thing about banks, is that they tend to be clustered together. I just had a look, and it looks like his bank is just right across mine (it's one thing that I asked on the phone). It *seems* to be of mutual benefit.

Yeah they are. Pity my one is far off in Stratford! But the Barclays and Natwest and right opposite each other. Another reason why I use online banking.

[JK Ferret]

I don't think there'll be too much wrong with you taking a bodyguard mate along - at worst, he'll be intimidated or think you're paranoid, at best, your security is higher and he'd agree (from a safety perspective).

[TooNice]

Having multiple accounts can be handy in those instances. I shouldn't have closed my HSBC account (first account opened in my teen). It's a bit annoying when the bank ask you to close your other account before they will open a new one.

[merdat]

Speaking about multiple accounts, i have one that I was going to shut down --may keep it open now just with a small amount in it especially for this 'bank transfer thing'.

[PeterStoba]

The going to a bank with the projector and getting the money, giving it to him and going to the train seems a good idea, win all round.