UK to Ireland bank transfer

fillefatale

Someone won an item I had listed on ebay recently, annoyingly, they don't have a paypal account so requested my bank details to transfer the money.

I have a couple of questions - I sent them my IBAN & BIC numbers - is that all they recquire to make the transfer?

It's probably too late to be asking this now, but how safe is it for me to send them my bank numbers? I've done it before for work, expenses related stuff, but just wanted to double check.

Once the money is in my account, is it safe there - they can't claim it back or reverse the transaction? I won't be posting the item until I am certain.

Thanks in advance!

3DataModem

It's safe. The info is available on the bottom of your cheques.

It's irrevocable; once the money hits your account it cannot be reversed.

fillefatale

3DataModem wrote: »

It's safe. The info is available on the bottom of your cheques.

It's irrevocable; once the money hits your account it cannot be reversed.

Thanks, I checked my bank's website and the info wasn't very clear. So as long as that's all the info they need, that's grand!

hognef

fillefatale wrote: »

Someone won an item I had listed on ebay recently, annoyingly, they don't have a paypal account so requested my bank details to transfer the money.

I have a couple of questions - I sent them my IBAN & BIC numbers - is that all they recquire to make the transfer?

It's probably too late to be asking this now, but how safe is it for me to send them my bank numbers? I've done it before for work, expenses related stuff, but just wanted to double check.

Once the money is in my account, is it safe there - they can't claim it back or reverse the transaction? I won't be posting the item until I am certain.

Thanks in advance!

I don't see how there would be any risk involved in giving somebody your bank account number. This is exactly how money changes hands in vast numbers in other countries, so unless there's something particularly unsafe about it in Ireland, you should be absolutely fine.

I would like to hear about it though if there are concerns about this practice.

hognef

fillefatale wrote: »

Thanks, I checked my bank's website and the info wasn't very clear. So as long as that's all the info they need, that's grand!

They might need your address. Strictly speaking, I don't think it's necessary, but that would depend on their bank and what (online or paper) form they need to fill out kn order to request the transfer.

Marcusm

It would be unusual for them not to need your full name and address - generally these are required by each bank's systems to minimise issues over identifying the correct customer. Once it hits your account, no one should be capable of taking it out except for manifest error - e.g. the receiving bank mistransposes digits and posts it to the wrong account.

Gordon

My UK bank needs the following for a tfr to Ireland:

Recipient's full name and address,
Full name and address of recipient's bank,
Recipient's bank account number.

chancer12

Slightly off topic query, my son has just moved to London and doesn't have a permanent address or bank account over there. What is the best way to transfer money to him? I believe that withdrawing from an ATM charges a high conversion rate. Someone suggested Western Union but they charge about 10% as a transaction fee which is quite expensive. Any advice appreciated

3DataModem

chancer12 wrote: »

Slightly off topic query, my son has just moved to London and doesn't have a permanent address or bank account over there. What is the best way to transfer money to him? I believe that withdrawing from an ATM charges a high conversion rate. Someone suggested Western Union but they charge about 10% as a transaction fee which is quite expensive. Any advice appreciated

ATM is likely to be the cheapest method for small / medium amounts.

chancer12

Thanks for that. Has anyone heard of CrededECardPlus? Someone on another thread mentioned it. You buy online and can transfer funds. All of this is only a temporary measure until he can get a bank account set up

nlgbbbblth

3DataModem wrote: »

once the money hits your account it cannot be reversed.

Unless you given a written instruction to your bank permitting same.

So yes - pretty safe.