Giving details out

Stacks Mad

Hi I'm selling a truck and a lad rang me up made to buy it as it's going for small money but was very keen on giving me a deposit!!

In my own mind i said lovely!! but then I said it's sound leave it until you come up to buy it.

And then asked for my bank details and name!!

What I want to know is would you or how do I accept the deposit safely?

biko

Sounds a bit odd but you never know.
Small money = cash deal imo.
If it's only a few days you can just hold it for him without deposit?

mgbgt1978

If you both use Paypal it's one of the easiest and quickest ways to take a deposit without revealing bank details.

byte

mgbgt1978 wrote: »

If you both use Paypal it's one of the easiest and quickest ways to take a deposit without revealing bank details.

IN that scenario though, won't Paypal want a piece of the action too?

mgbgt1978

They charge 3.4% plus 35c . to pay a couple of hundred deposit will cost about €7 . the bank will also charge for a transfer (dont know how much).
When it's a personal paypal transaction (not a purchase) the sender decides who pays the fee, when it is a purchase the seller pays the fee.

Alun

mgbgt1978 wrote: »

If you both use Paypal it's one of the easiest and quickest ways to take a deposit without revealing bank details.

You reveal all the details anyone would need to pay money into your account (name, bank name and branch, sort code and account number) every time you write a cheque. Paying directly into people's bank accounts to pay bills or other payments is a common practice all over Europe where cheques either don't exist at all or are very uncommonly used.

Andrew33

Sounds like a bogey, I wouldn't give bank details to ANYBODY who rang me, even if they claimed to be from the bank itself! Avoid,avoid,avoid.

problemchimp

Stacks Mad wrote: »

Hi I'm selling a truck and a lad rang me up made to buy it as it's going for small money but was very keen on giving me a deposit!!

In my own mind i said lovely!! but then I said it's sound leave it until you come up to buy it.

And then asked for my bank details and name!!

What I want to know is would you or how do I accept the deposit safely?

DON'T GIVE YOUR BANK DETAILS TO ANYONE!!!!!!!!!!

Max Power1

Related query - how do you pay for a car if buying it from a garage and not paying by EFT? Ive never bought a car for more than 7-800 so always paid cash. I always assumed EFT was the payment method.

Anan1

Max Power1 wrote: »

Related query - how do you pay for a car if buying it from a garage and not paying by EFT? Ive never bought a car for more than 7-800 so always paid cash. I always assumed EFT was the payment method.

Draft.

@OP - What reason did the buyer give for needing your account details?

Theta

Max Power1 wrote: »

Related query - how do you pay for a car if buying it from a garage and not paying by EFT? Ive never bought a car for more than 7-800 so always paid cash. I always assumed EFT was the payment method.

As Anan1 said draft.

But you could also put your credit card into credit for 10 or 20 grand and then use that to pay.

You can actually have more control then if something goes wrong then if you paid by draft I believe.

Eoin

Theta wrote: »

As Anan1 said draft.

But you could also put your credit card into credit for 10 or 20 grand and then use that to pay.

You can actually have more control then if something goes wrong then if you paid by draft I believe.

I don't know if a dealer would be happy to pay the credit card commission though. That could really add up on a big purchase.

R.O.R

Theta wrote: »

But you could also put your credit card into credit for 10 or 20 grand and then use that to pay.

You can actually have more control then if something goes wrong then if you paid by draft I believe.

I think in that case you won't get the cover you'd usually get when paying by credit card, as you aren't going in to debt. Also, any excess balance isn't covered if you get de-frauded (your money rather than the banks so tough luck).

Stacks Mad

Thanks for the replies people! So really it's a no no .

@ OP he wanted my details to put a deposit into my a/c so that I wouldnt sell on the truck because I said that I would not be around for a few days as I'm going away.

He seemed a bit too eiger if you know what I mean!!

j4vier

what sort of damage could someone do even if they have your bank details anyway?

Theta

Clarkson said that once and threw his details into an article.

Someone signed him up for a 600 quid direct debit to a charity.

Alun

Theta wrote: »

Clarkson said that once and threw his details into an article.

Someone signed him up for a 600 quid direct debit to a charity.

Which isn't the same thing at all as an individual person being able to access your bank account with your details, which as I pointed out above, are displayed clearly on every cheque you write anyway.

As I understand it, the way JC got 'stung' is that in the UK some charities are allowed to operate a paperless DD system that requires no signature or other authorization, I believe to make things easier for them. However, since the whole system is clearly as insecure as hell, there are safeguards in place that allow anyone to cancel and get a refund on any disputed transaction of this type, no questions asked.

Anan1

Stacks Mad wrote: »

Thanks for the replies people! So really it's a no no .

@ OP he wanted my details to put a deposit into my a/c so that I wouldnt sell on the truck because I said that I would not be around for a few days as I'm going away.

He seemed a bit too eiger if you know what I mean!!

TBH, his explanation sounds fine to me. Some people here are inclined to panic at the slightest gust of wind.;)

slimjimmc

Anan1 wrote: »

Draft.

@OP - What reason did the buyer give for needing your account details?

Be careful with Bank Drafts, they are not as secure as people assume even if they were supposed to be issued on guaranteed funds.

Drafts can and have been forged and because of this banks no longer lodge them into your account immediately but instead put them through a clearing process which could take 3 days. At the end of it all you could find with a dud bank draft, no money and no truck.

Also watch out for the scam where the (forged) Bank Draft is for too much and you're asked to pay back the difference in cash.

If you want to be certain the draft is ok you should go with the buyer to his bank and witness him getting the draft.