Seriously....I'd take a £500 deposit by paypal and then have it done by bank transfer. your bank details will allow the funds to go in, not to be withdrawn....you will be covered for fraudelant withdrawels by your bank.
Yep - I got caught for a chargeback a couple of years back...sold a ps3 to a bloke on ebay, emails back and forth discussing delivery etc etc....3 months later I find my paypal account in debt (first time ever) and also I never knew that could happen. It was the result of a chargeback and even though I contacted ebay, my bank, had the signed delivery note from the receiver and all the emails of comms it still went against me.
I noticed the last couple of days when I have sold some parts via Paypal 'friends' that it still has the warning that the funds can be reversed. This is making me wary of using paypal any more as anyone can buy something from you, keep it a while then decide they don't want it, they have broken it or it has failed then ask for their money back. This cannot be right surely ? I have stopped using ebay as much as I can because of this 180 day returns rule they now have out, people can keep something 6 months then ask for a refund. If you sell something working then it packs up it is one of those things that you sort of part expect when buying anything used. Plus the fees are getting ridiculous, 10% seller fees, 4% paypal fees and even fees on the postage costs now.
Would not take cash unless you are certain you can spot a fake, would do a ban transfer, and make sure the money is in bank before you let it go
Take it to a dealer, you'll worry yourself into an early grave otherwise. Every sale has it's risks, ebay is no better or worse than any other way, only taking it to a dealer negates most risks, and that comes at a premium. What you need to know is that the vast, vast majority of people in the world are decent, honest people. There's a chance that the cash may be fake, but then there's a chance that Elvis is still alive and working in a chip shop.
Friend of mine, sold his MX bike and was paid by Bankers Draft, paid into bank, all good. 7 days later bankers draft was a fake. No money, No Bike. A good tip, ask to take their photo with new bike!!!!!!
The obvious thingto do is ask for cash and photo-ID, or take cheque/bankers draft and only release the bike when the funds are cleared.
Hi, Im from Nigeria, er Norwich, interested in your bike, if you can give me your last 3 digits on the reverse and the long number along the front and your address, I will have the monies deposited straight away sir.
seriously though...dont take a bankers draft, thats no safer than a personal cheque as long as you are there when its drawn up...visit moneysupermarket, Martin Lewis says so.
What johnny said in #2, cash into the bank. Once its been counted into their tills any fakes are their problem. There are fake cheques, bankers drafts and probably every other form of proxy for money going.
The guy that bought my 999S had some fake £50s which the bank spotted when I paid the money in. The cops + the threat of losing the bike and his deposit (the clean money) made him pay up the difference. A lot of hassle though, won't take cash again.
I got paid in dodgy £50 notes years ago. Trouble is the company I was working for had their staff wages made up by the bank. A little old lady in a newsagents spotted them, so I took them back to the bank they came from - cue multiple red faces. Turned out they had hundreds of the buggers and no-one had spotted them.
dont take cash.... it useless... cant use it in a parking meter, on a bus or soon the dartford toll.. get used to e transactions and the powers that be Knowing everything about you from what toothpaste ya use to how much pocket money you give ya kids and what they spend it on... By the time your kids grow up the bank will know their spending habits, their potential future earnings based on where they fit in socio-economically, their employment prospects and will decide from there whether to give them a mortgage/credit card or not... WHAAAAAAAAAAAAAAAAAAAAAA!!!!!!!!!!!!!!!!!!!!!!!!!!!!! sorry... wrong thread?
A point to note that although a cheque can clear within 3 days once deposited in your account, it can still fail and the funds be removed. You must ensure that it has fully cleared and you must ask the question of your bank whether it has or not. That covers you in the event. I know of someone who almost fell for the nigerian bike buying scam. It was quite a few years ago before it became so well publicised. They sent a cheque of 5k for a bike, enough to cover bike and transportation costs. He deposited said cheque, phoned bank to ensure it had cleared and that it was safe to withdraw the remainder to be sent back to the buyer via western union (1.5k). Whilst arranging transport with the buyer, the bank called to say the cheque was a fake. He was going to be charged the 1.5k and he only escaped because he had clearly enquired with them that it was a safe cheque and he was okay to withdraw. The 'buyer' then disappeared. With 1.5k of the banks money. Always enquire with the bank that the cheque is valid and do not release bike until such time as the cheque is verified completely.
