Safest (for me) method of someone paying for a bass (International)

[warwickhunt]

Not sure if this is 'off-topic' material but seems best place!

I have a guy interested in buying a bass from me; he has registered on BC in order to contact me re. the purchase. However... how do I accept payment from him in the 'safest' manner, for me. I say 'for me' because I am talking about my specific circumstances and I know that I will send the bass as and when it is successfully paid for, so I don't need to consider different scenarios i.e. whether it is best for the buyer.

There is paypal but I've had experiences with them that have soured my view of them and their practices; added to which there are fees and the money could potentially be claimed back (IIRC). He has offered to do an International wire transfer but I have no idea who he is and could sending someone my bank details jeopardise my account security?

I'd appreciate any constructive views re. how to do this in the safest manner possible.

Cheers.

[Paul S]

[quote name='warwickhunt' timestamp='1383476552' post='2264750']
He has offered to do an International wire transfer but I have no idea who he is and could sending someone my bank details jeopardise my account security?
[/quote] This is perfectly safe. Someone having your sort code and account number doesn't mean they have access to the funds in the account!

[barkin]

Indeed. They're on every cheque you've ever written.

[Grangur]

[quote name='barkin' timestamp='1383480194' post='2264812']
Indeed. They're on every cheque you've ever written.
[/quote] Agreed. Plus Paypal take 10% for the pleasure.

[flyfisher]

I'd also vote for bank transfer. As pointed out above, the required sort code and account number is on every cheque anyway so is effectively public domain info and your bank could hardly argue that you've compromised your security if anything does go wrong.

But (there's always a 'but'), do you remember the now infamous Clarkson incident?
http://news.bbc.co.uk/1/hi/7174760.stm

My understanding is that this risk is no greater than using your credit or debit card online. Yes, your account could be hacked in some way but the banks will always reimburse you for any fraudulent transactions. If they didn't guaranteee this then confidence in the banking system would collapse so it's a necessary thing for them to underwrite though, of course, we are the ones who end up up paying for it indirectly through bank fees and other charges.

[Paulgm1]

I work for a bank so thought I'd throw in my view here.
Agree with flyfisher.
Bank transfer is the best way in my opinion. If the money is sent through the mainstream banking system it also gives you some protection as to send the funds in the first place the buyer either needs to have an established bank account already and/or provide satisfactory id and source of funds information to comply with anti money laundering rules.
The Clarkson story is not an issue in my view as although a fraudster managed to set up a direct debit using his details, the bank has got to prove that they received a proper authorisation from the account holder otherwise must put the money back straight away.

[Grangur]

Just make sure you also clarify who pays the international transfer fees - it's not cheap.
I like to use transfers for Uk sales too - they can't bounce like cheques do.

[flyfisher]

[quote name='Paulgm1' timestamp='1383485339' post='2264887']
The Clarkson story is not an issue in my view as although a fraudster managed to set up a direct debit using his details, the bank has got to prove that they received a proper authorisation from the account holder otherwise must put the money back straight away.
[/quote]

Agreed. The Clarkson incident was I thought, very badly reported in this respect. I actually found loads of links to the story but although I looked at half a dozen of them, none mentioned the fact that the bank would protect the account holder in such a case of fraud. Indeed, none mentioned the 'direct debit guarantee' that is clearly stated on every direct debit mandate (well, all the ones I've ever used).

I suspect this was probably because the fraudulent Direct Debit was set up in favouir of a charity and Clarkson would probably have got bad press if he claimed the £500 back from the bank, which is fair enough in his case but there can't be too many people who wouldn'5 miss £500 so the reporting should have made this clearer. Ho hum.

[steve-bbb]

[quote name='Paul S' timestamp='1383476800' post='2264754']
This is perfectly safe. Someone having your sort code and account number doesn't mean they have access to the funds in the account!
[/quote]

+1 i would hazard a guess that a majority of purchases on the sale forums are done this way

[warwickhunt]

Cheers for the input folks.

I've bought and sold *cough* a 'few' times and I've almost always done it through a direct bank transfer BUT it has always been with folk who are either well established or at least in this country and with some form of feedback. This one is a little different as it is a complete newbie who lives in the States and I'm always wary of anything 'International'.