Ebay question - IBAN/BIC payments

[Goofyish]

I have a question for all you Ebay experts and/or banking people out there

I've been asked by an Ebayer in Germany if I accept payments using IBAN/BIC
I've done a quick search and this seems to be an international money transfer using an international account code for your bank account.
I'm very suspicous about giving any bank account numbers or info. to anyone, so is this IBAN/BIC payment method safe?

 

[BCT]

I've been using Ebay for over 12 months and never heard of it, I always apy with Paypal or personal cheque and have never had a problem.

Berwyn

 

[ely3857]

Boring Bank Clerk here!

Iban is a way of transfering funds internationaly into your account but the details DO include your actual account details. The iban part is like an international sort code.

This is not a recommended way of accepting payments from strangers, More a way of sending money to family & friends and in my experience alot of business people use it to pay for goods bought in bulk, but obviously using business account details not personnal ones.

However it is of course up to you.



Jodie

 

[DisneyRGB]

Never heard of Iban but Jodie definitely seems to know what she's talking about! I would use Paypal if I were you, it seems safer as you don't have to give your bank details and it doesn't matter that the German would be paying in euros, Paypal will convert the currency so that you get pounds. I have bought things off the American ebay via Paypal and had no problems. I'm sure this person is honest, but you never know what scams are going on.

Rhiannon

 

[florida sun]

I have sold three things this week to people in Germany and each one of them has paid by palpal, paypal converts the money over to british pounds for you.
Personally I would stick with what you know. I agree with you I dont like giving out my bank details, although I know we do it with paypal really.


Sue

 

[Hilary]

If you've listed your item saying you accept PayPal/cheque/whatever, then anyone bidding is effectively agreeing to use one of the methods you've specified.

From your post, it could be that this person hasn't actually won the bid yet but is just asking the question. If it was me (and I certainly don't claim to be an ebay expert; I'm still very much a novice!) I'd stick to what I was happy with - hopefully your German bidder will either be happy to use your preferred methods or there'll be someone else who will

 

[TinkTatoo]

Bank transfers are a popular way to pay for things in Germany and many German transactions are done this way. I am like you and don't like giving out bank details to strangers but I am lucky in that I can ask my buyers to send a Euro Giro which is a certified cheque from their post office that I can cash in my post office, unfortunatly I don't know if you could cash this in the UK - plus you would have the whole exchange rate thing. I'd tell him that you only accept paypal from abroad

 

[Goofyish]

I was thinking last night about not wanting to give my bank details to people and I suddenly realise that every time we give someone a cheque we actually give more details away than with this bank transfer!

Cheques have your sort code, branch address, acount number, signature and possibly you address written on the back with your cheque card number!

 

[ely3857]

I was thinking last night about not wanting to give my bank details to people and I suddenly realise that every time we give someone a cheque we actually give more details away than with this bank transfer!

Cheques have your sort code, branch address, acount number, signature and possibly you address written on the back with your cheque card number!

This is why less and less people are paying for things by cheque.

It isnt the details as such that most people are concered about but the fact that this in turn is going to 'do' something on their account that they have no control over.



Jodie