Is it safe to accept a bank transfer when selling gear?

[asingardenof]

54 minutes ago, Jean-Luc Pickguard said:

 

This is interesting as I already have a monzo account which I use mostly to transfer money to my kids (and sometimes get it paid back as promised). I will look into the link thing you have described - it sounds like it might be a preferable solution for getting paid.

In the app if you go to the payments tab then request money, click "by QR code or link", it'll give you a QR code to scan and an option to create a link. I generally use it to request money from my bandmates if I've booked the rehearsal studio as you can set the amount and a custom description for the transaction to appear on their bank statement, e.g. if you sold an Ampeg amp, you could call the description "[your name] Ampeg amp purchase via BC" or something similar that fits within any space constraints.

[asingardenof]

10 minutes ago, Paolo85 said:

I guess the downside with that is that, as a buyer, I would rather not pay through something I am mot very, very, familiar. Maybe, just because I have Monzo myself, I'd trust this one depending on how it looks. But in general, if I was to transfer hundreds or thousands of pounds before something gets posted to me, I don't want to have to figure out what the heck is that payment platform that I am seeing and whether is legit or just looks legit but has been created by a hacker

That's fair enough and will depend on how well you trust the seller. The Monzo links all start monzo.me so hopefully this will start to get the word out there that such links aren't scammy. 

[Jean-Luc Pickguard]

To clarify, @Paolo85 this thread is about getting payment for in-person transactions, not selling gear that will need to be posted.

[Lfalex v1.1]

6 hours ago, Frank Blank said:

I only ever do bank transfer for transactions with Bass Chatters, but, I always check beforehand that a bank transfer is acceptable. I wouldn't just turn up expecting someone to accept that method of payment.

 

That's pretty much my take on it. 

I've sold a couple of basses in the past and taken payment by bank transfer without issue. 

When I'm buying,  I'll always agree the payment method in advance with the vendor. 

 

[nilorius]

If You see the upgrade in Your account, it's safe.