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Being Paid By Bank Transfer?

  • 06-09-2011 10:52am
    #1
    ironclaw
    Registered Users, Registered Users 2 Posts: 8,004 ✭✭✭


    Hi Folks,

    Currently selling a high value item and PayPal isn't an option. Buyer and postage is within Ireland (Confirmed)

    So what I want to know is, from the point of view of a seller, is a bank transfer a secure method of payment? Can the person paying ask the bank to revoke the payment? Is there a "cooling off" period where this can be done? Or is it one way i.e. Buyer pays by Bank Transfer and there is no come back?

    I'm talking now as a person accepting a payment, not sending one.

    What other options do I have? PayPal is out as the fee's would be huge. Do Postal orders incur fee's?

    Cheers!


Comments

  • #2
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Once a bank transfer goes through, it can't be reversed. Postal orders and cheques can be faked, and can take a while to be discovered as such.

    Bank transfer is the best payment method for the seller, apart from cash.


  • #3
    Moyglish
    Registered Users, Registered Users 2 Posts: 759 ✭✭✭Moyglish


    Just wondering with regards to Postal Orders - If the seller were to cash a postal order in a Post Office for instance, and received the money there and then, surely if the Post Office later discovered that the Postal Order was fake they would have no avenue for recourse as the PO would long have been cashed?


  • #4
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    If you can cash it, then you have the cash. Often it can't be cashed, and there in lies the problem.


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