Selling bike by bank transfer

[T0MMY]

Just a quick question...bloke phoned me about my CB-1 and wants to buy it without looking at it by transferring me the money and getting it couriered.

Any problem with this? If it's a bank transfer and I wait for it to clear is there any way for the transfer to be reversed or anything?

I'd rather just sell it face to face, cash in hand but if it's safe enough I may as well. He's taking a bigger risk than me and it's lucky for him I'm very honest when selling vehicles!
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ZX6R + CBR600RR

[Fisty]

Stay away from it. Can still be reversed or a stolen account used.

Cash or nothing.
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Quietly and consistently taking the piss.
TL1000R | Hayabusa | ZXR400 | TL1000S | Bandit 400 V
Fatter and faster than Fret

[Pie-Roe]

I've bought and sold bikes by bank transfer.
I was never that worried. Just put the reg number as ref number and keep emails or owt.

But then it was only ever for sub 2k money.
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Previous: GSF600, FZR600 x2, ZXR750, XT600 Tenere, CB125, CZ125, ETZ 250, ER5, CCM R30, DRZ400, RF600x4, RF900x2, GS500, VTR1000F, 640 SMC, CB250 NIGHTHAWK, GT550x3, GPX750 TE610, CB500, X11x2, SV650, ZING 125, TL1000R,CB250 Superdream, CBR1100XX

[Matt-]

Cash only Tommy
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RIP jack (wheelie king), you will never be forgotten.
Current Bike's - Road Legal TZR 125 Pitbike, Aprilia SR50R 2010

[Knightsy]

Cash or no bike. Bank transfer scams are too common to risk it mate.
It's not worth it. If he wants it, he'll show up with cash.
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09' Versys 650 | 07' FJR1300A

[T0MMY]

He's just messaged me on Ebay...over 500 feedback score and 6 year membership so he has some history I guess.

I might phone my bank...if the money can't be taken back then I'm going to do it I think. I know there are a lot of scams about but I'm pretty sure that with a normal bank transfer the money can't be repealed once it's cleared.

Ultimately I'm more worried that he'll be disappointed if the condition isn't what he'd hoped. It's in pretty good shape and I told him the worst bits but with a 23 year old bike there's going to be a lot of marks etc.

Only thing is he needs to transfer £5k then I need to refund the balance...something to do with his shipping company in Nigeria.
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ZX6R + CBR600RR

[McfcChris94]

^

isnt that confirmation enough its dodgy?
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CBT Passed; 13/05/2012

Current; Honda CG 125

[T0MMY]

Sorry...that last bit was a joke.
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ZX6R + CBR600RR

[MaybeGuy]

I was under the impression that bank transfers can't be reversed.
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Blue_SV650S wrote: it was a sh1te wheelie, but it proves that he can get it up in 3rd and can do angles. In summery, mattsprattuk is a gobby little sh1tebag, dopehead tw4t, but sadly for all of us, he probably isn't THAT full of sh1te!!
Kickstart wrote: Hi I tend to agree with Matt. All the best Keith

[janner_10]

I would have a quick yarn with your bank, but it's never normally a problem from high street bank to high street bank.

Most of the ZOMGWTFBBQ NO!!!111ONE answers are just forum guff.

I've done a couple of sales like this with no issues by being sensible and vigilant.

Happy selling
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Yamaha FZS600 (Now gone to heaven) > CBR600F4i (SOLD) > '99 YZF-R1

[Chalky.]

Jesus, some people are full of shit.

The majority of the UK is run with bank transfers - it's the main business payment means. How do you all get paid fom work?

There's actually a thread on this from no so long ago.

Google BACS Tommy. 3 days to clear IIRC.

Or CHAPS for instant (costs sender money).

[Alex A]

I've bought and sold bikes and other high value items countless times via bank transfer. Never had a single issue. It's usually instant, it saves two visits to the bank, and it saves either party having to carry a load of cash.

[scorps]

I would never buy a bike without seeing it first to be honest.
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Do not presume that I am male.

[MarJay]

Bank transfers are pretty good. A man bank transferred me all the money for my MZ and then picked up the MZ using a courier.

Wasn't an issue.
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British beauty: Triumph Street Triple R; Loony stroker: KR1S; Track fun: GSXR750 L1; Commuter Missile: GSX-S1000F
Remember kids, bikes aren't like lego. You can't easily take a part from one bike and then fit it to another.

[iooi]

[T0MMY]

The other issue I can see here is with signing the V5. I don't really want to sign my bit and send him it as then he could just never register it in his name leaving me responsible for parking tickets etc.

How have you guys that have done this before dealt with that?
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ZX6R + CBR600RR

[kernow24]

[MaybeGuy]

Sign it for them and send it off? who the hell checks.
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Blue_SV650S wrote: it was a sh1te wheelie, but it proves that he can get it up in 3rd and can do angles. In summery, mattsprattuk is a gobby little sh1tebag, dopehead tw4t, but sadly for all of us, he probably isn't THAT full of sh1te!!
Kickstart wrote: Hi I tend to agree with Matt. All the best Keith

[T0MMY]

[Chalky.]

[Benno]

Well from my experience banks aren't very good with getting money back. I told them after I was forced to transfer money literally at weapon point, provided them with all the necessary police details and witness statement(s), and they told me they couldn't do anything.
I suppose that might be a bit different though.

I hate having thousands of pounds worth of cash on me in case something happens, so I bought my current bike by direct bank transfer which the seller was OK with. It took less than 5 seconds. I'm pretty sure it's safe, though I'm always suspicious when someone offers to send a courier, I'm not sure how normal this is.

Quick question, not meaning to hijack the thread: is it normal/accepted practice to ask a buyer to accompany you to a bank when paying in cash? I'm selling my bike on Thursday for cash and I'd rather not hold on to it.
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I'm autistic. That means I'm smarter than you.

[G]

It's not too unreasonable to ask the buyer to come with you - that way if the notes are dodgy and rejected by the bank, there's no question.

On that for the OP - you could ask him to pay the money in by cash in to your account, rather than a bank to bank transfer. That way I'm pretty sure there's no way that can be reversed.

[promufa]

Fill in the V5 and get a photocopy of it just in case and proof of bank transaction etc. You can always ask him to put sale of CB-1 Reg.No as a note when he sends you the money. Send the V5 to him, ask him to register and ask for him to email you a scan of the new V5 as soon as he gets it. If he takes too long might be an issue.

I seriously doubt that though. As you said it's an old bike and not fast enough for a bank job Think you ll be safe
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'02 Triumph Speed Four

[Rob W]

I had hassle with the Bandit, when I noticed the bloke who 'won' it had feedback saying that he claims items are damaged so as to get a partial refund when he complains through eBay. He wanted the bike delivered without looking at it as well, and I just couldn't be arsed with all the ballache involved, especially as I suspected he was going to find a minute mark somewhere and put in a complaint. Plus the fact he bid it up to £7100, .

If it's outside of eBay I'd probably go for it, he has no real recourse apart from the bank, and if the money clears and you can access it I'd think you'd be fine. If it is through eBay I'd be wary of him making a moody complaint for a refund of some sort.
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TS50 > Senda 125 > ZXR400 > CB-1 > GSX-R1000 > Bandit 600 > ZXR750 H1 > GSX-R750 SRAD > '98 RR-W Fireblade > T595 Daytona > Hornet 900 > '04 Fireblade > GSX-S1000F (x2) > '23 XSR900

[Benno]