Deposits and safety of giving bank details for transfers to not get scammed?

[SaharaS]

Hello...

Two linked questions..I feel terrible for having to ask, but we are all so very aware of the many multitudes of scams going on..so asking the wise!

Firstly, regarding taking deposits on a horse..how much percentage should I take..been asked what I would like. Buyer seems lovely, tho all correspondance been done buy email, presumably due to distance she is currently going on pics & videos & numerous lengthy email discussions, but is taking the horse at some point over the after new year/early spring time - my request due to wanting to settle horses attached veteran friend into a new routine with another to try avoid any unforseen heartbreak if she takes it badly-they've been together 9 years . Buyer has shown me pics of hers & I feel very happy with the home & her way of thinking/care etc-as much as you can from email! All sounds perfect..possibly too good to be true.

I don't want to cause her offence but would love to speak on phone before handing over bank details-she suggested transfer direct to my bank, name my deposit. I agree a transfer is safer than a check or paypal..but can anyone use your bank details with the info needed for a transfer?

I so worry & I don't want to offend her..just might feel a little easier if I can speak to her just before giving over my details..so I know *gruff cockney voice* "dangerous dave" isn't emailing as the lady. Everything in her emails sounds just right, grammar, punctuation & no weird things at all, I'm just very very cautious & not used to selling so as with pony when he went I was having cyber kittens! Please can HHO rent a big sister please advise! Baklava & chocolate bics for all who help( mind your teeth the baklava is uber sweet!)

 

[sbloom]

You only need give your account name, number and your sort code to receive a payment, to take a payment more info is needed. I give my bank details to clients regularly I'll leave it to others to comment on the amount

 

[SaharaS]

You only need give your account name, number and your sort code to receive a payment, to take a payment more info is needed. I give my bank details to clients regularly I'll leave it to others to comment on the amount

Thank you! Feel like am just being paranoid but I guess newspapers make you that way!(Mums are very good at pointing out encyclopedia style all the bits you have chosen to gloss over!)

 

[Ladyinred]

10% of the purchase price is usual for a deposit. I think I too would be wary, can she not send a cheque recorded delivery?

 

[lachlanandmarcus]

SaharaS I would not be handing over any details of my bank account to someone I have never met and who I have only corresponded with via email.

And I wouldnt even consider in a million years handing my horse over to them until I had met them???!!!!!

'name my deposit' would make me even more suspicious

sorry to put a spanner in the spokes but I would be really wary however nice they sound on emails and whatever pics they have sent.

I would want to visit the new home and would take a bankers draft or cash for the deposit from them when I did that. That way no need for bank details at all, just your name. When you take the draft from them, ring up the branch of the bank on which it is drawn (it will be printed on the draft) and get them to confirm it isnt stolen (which is the only circumstance in which a bank draft can be dishonoured).

 

[vieshot]

Your bank details are printed on every cheque you give out. It's very common practice to give out sort code and account number combinations and the risks associated are very minimal. I would be much more wary about a cheque as not many people seem to be aware of how a cheque clearing cycle works so can get very caught out!

I would happily give out my account details all day long.

 

[SaharaS]

10% of the purchase price is usual for a deposit. I think I too would be wary, can she not send a cheque recorded delivery?

I was going to ask for paypal tho cheques and paypal can technically both be cancelled/charged back...tho I don't know how this works if money is gifted. As horse is not mega money- I don't think 10% (150) would be worth it..needs to be enough to know she will miss the money if she doesn't buy..and that its not too much either. someone else just pm'd (thank you!)who thought 450 or 300-500 but to put terms that if i pull out all returned(or 90%) ie if she hadn't paid in full/collected by june! I would want full cleared transfer/cash on collection in my muddy little hand before horse even steps out of her stable..

SaharaS I would not be handing over any details of my bank account to someone I have never met and who I have only corresponded with via email.

And I wouldnt even consider in a million years handing my horse over to them until I had met them???!!!!!

'name my deposit' would make me even more suspicious

sorry to put a spanner in the spokes but I would be really wary however nice they sound on emails and whatever pics they have sent.

I would want to visit the new home and would take a bankers draft or cash for the deposit from them when I did that. That way no need for bank details at all, just your name. When you take the draft from them, ring up the branch of the bank on which it is drawn (it will be printed on the draft) and get them to confirm it isnt stolen (which is the only circumstance in which a bank draft can be dishonoured).

I totally understand everything you are saying..I sold (my only other sale ever -a year ago) to a lady i'd never met but someone on here kindly did some stalking and it all worked out fine..it wasn't the forever home she'd promised but have kept in contact and all worked out fine in the end. Some people buying might have fear of speaking to strangers on the phone or have a hearing or speech problem so I'd hate to offend but do totally understand what you mean.If i didn't like her when I met her deposit would be returned and horse would stay. Oh..incase anyone things i'm uber bonkers..it is a brood mare so non ridden *please no one start shooting at me for selling a broodmare*

 

[SaharaS]

Your bank details are printed on every cheque you give out. It's very common practice to give out sort code and account number combinations and the risks associated are very minimal. I would be much more wary about a cheque as not many people seem to be aware of how a cheque clearing cycle works so can get very caught out!

I would happily give out my account details all day long.

thank you Vieshot...this was my worry with cheques as i think its 3 months that you can still cancel after clearing funds..paypal has similar issues

 

[FfionWinnie]

Your bank details are printed on every cheque you give out. It's very common practice to give out sort code and account number combinations and the risks associated are very minimal. I would be much more wary about a cheque as not many people seem to be aware of how a cheque clearing cycle works so can get very caught out!

I would happily give out my account details all day long.

^^ this.

 

[be positive]

I would not worry about giving out bank details but I would about agreeing to sell to someone I had never even spoken to, can you ask her for a phone number just be honest and say you want to actually speak before committing to the sale, if she is genuine and cares about her horses she should understand.

 

[SaharaS]

^^ this.

thank you..

I would not worry about giving out bank details but I would about agreeing to sell to someone I had never even spoken to, can you ask her for a phone number just be honest and say you want to actually speak before committing to the sale, if she is genuine and cares about her horses she should understand.

thank you -she's been very open about everything else so am sure she will be, its as you say tho, the voice behind the computer! I really am rubbish at this aren't I!

 

[be positive]

thank you -she's been very open about everything else so am sure she will be, its as you say tho, the voice behind the computer! I really am rubbish at this aren't I![/QUOTE]


Yes, just do it

 

[SaharaS]

thank you -she's been very open about everything else so am sure she will be, its as you say tho, the voice behind the computer! I really am rubbish at this aren't I!

Yes, just do it[/QUOTE]

ok...*wanders off to eat some Snickers*...which will make no sense to anyone whatsoever unless they've seen the ad! did you get my pm btw re next week?

 

[vieshot]

thank you Vieshot...this was my worry with cheques as i think its 3 months that you can still cancel after clearing funds..paypal has similar issues

The cheque clearing cycle is 5-7 working days. If you paid in the cheque at the start of the week then funds would appear available in the account by the Friday but the cheque could still potentially bounce up until the cheque is fully cleared EVEN THOUGH the funds may appear cleared already. If after the seventh working day the funds are still in the account then the cheque has fully cleared and the fate of the funds is secure. It is not possible to recall these funds from your account after the seventh working day.

To make it simpler, if you pay in funds on the Monday and the money is still there the following Wednesday(8 days later) then that money is yours and it's impossible to take it away from you.

The problem with cheques is that people think the money is cleared on the fourth day when the funds become available, they hand over the item to then have the funds bounce a day or two later. With cheques always wait seven working days before giving up the goods.

 

[FionaM12]

I agree with others that the details you give (name, number, sort code) are safe to give out. They don't give any access to your account.

 

[SaharaS]

The cheque clearing cycle is 5-7 working days. If you paid in the cheque at the start of the week then funds would appear available in the account by the Friday but the cheque could still potentially bounce up until the cheque is fully cleared EVEN THOUGH the funds may appear cleared already. If after the seventh working day the funds are still in the account then the cheque has fully cleared and the fate of the funds is secure. It is not possible to recall these funds from your account after the seventh working day.

To make it simpler, if you pay in funds on the Monday and the money is still there the following Wednesday(8 days later) then that money is yours and it's impossible to take it away from you.

The problem with cheques is that people think the money is cleared on the fourth day when the funds become available, they hand over the item to then have the funds bounce a day or two later. With cheques always wait seven working days before giving up the goods.

extra mince pie for you..thank you

I agree with others that the details you give (name, number, sort code) are safe to give out. They don't give any access to your account.

thank you..what would i do without everyone here! (prob go grey!..or gray...)