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King29
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Joined: 18 Oct 2017
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PostPosted: 22:30 - 23 Aug 2020    Post subject: Bank payment Reply with quote

Asking for a friend, I don't know the answer. Mate sold his mountain bike to a woman this afternoon, as he is covid aware, he asked for payment to be bank deposit. She transferred the money in front of his eyes on her phone, he checked the balance and saw the payment go in. She had the mountain bike £500 worth.

He is now worried that she can somehow say she paid the money in the wrong account even though she put his name in and put down on the transfer it was for a mountain bike. To be honest he's a bit of a tube and worries about eeevvvverything. I told him I did not think she can do that, thought I'd ask here, someone will know.

He's paranoid, I told him to relax, he's stressing though. She has no complaints, it's a good bike, he's just worried about getting diddled. He thinks she will ring the bank, say it's an error and get the money back in her account and have the bike.
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Ste
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Joined: 01 Sep 2002
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PostPosted: 22:55 - 23 Aug 2020    Post subject: Reply with quote

If she says she paid the money to the wrong account then her bank will tell her that transfers made to invalid account details will bounce returning the funds to her account.

She could ask her bank to contact his bank to request that the payment is returned and when his bank contacts him then he can decline their request.

Everything is fine.
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King29
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Joined: 18 Oct 2017
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PostPosted: 23:07 - 23 Aug 2020    Post subject: Reply with quote

Thank you Ste. Much appreciated, I've text him the good news. Thumbs Up
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Freddyfruitba...
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Joined: 20 May 2016
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PostPosted: 11:37 - 24 Aug 2020    Post subject: Reply with quote

Ste wrote:
If she says she paid the money to the wrong account then her bank will tell her that transfers made to invalid account details will bounce returning the funds to her account.

"The wrong account" is a completely different thing to "invalid account details" though, innit?

AFAIK if you transfer money into the wrong bank account by mistake, the onus is on that third party to return it to you; it's not the bank's problem. Not that I think that's at all likely in the OP's case.
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Easy-X
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Joined: 08 Mar 2019
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PostPosted: 12:44 - 24 Aug 2020    Post subject: Reply with quote

If I sell something via classifieds of any reasonable amount I print 2 copies of a receipt e.g. "I sold bike X to Mrs. Peach 24/08/20 for £500" and both parties sign and keep a copy. If the bank queried the transaction then you can just show the receipt.
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pepperami
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Joined: 17 Jan 2010
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PostPosted: 18:54 - 27 Aug 2020    Post subject: Reply with quote

Easy-X wrote:
If I sell something via classifieds of any reasonable amount I print 2 copies of a receipt e.g. "I sold bike X to Mrs. Peach 24/08/20 for £500" and both parties sign and keep a copy. If the bank queried the transaction then you can just show the receipt.


This^+1.
I also do the same when I buy larger goods second hand.
For example when I bought ‘Project Scrapheap Hyosung’ ,
I created two receipts exactly the same and got the seller to sign my copy and I signed his copy .

If things go pear-shaped we both can prove it was a mutual sale/purchase.
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Ste
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Joined: 01 Sep 2002
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PostPosted: 19:15 - 27 Aug 2020    Post subject: Reply with quote

Freddyfruitbat wrote:
"The wrong account" is a completely different thing to "invalid account details" though, innit?

Yeah I suppose, "the wrong account" could mean either though. If someone selects the wrong payee from the list of payees on their online banking and then goes through the confirmation screens without noticing then what they're saying is that they paid the money to the wrong person and so still owe the seller for whatever it is they purchased. Laughing

Whatever way of phrasing it or looking at it, the buyer has no come back. Invalid details and it'll return to their account, sent to the wrong person and their bank will contact them to request that it's reversed and the seller can decline that request. Laughing

Freddyfruitbat wrote:
AFAIK if you transfer money into the wrong bank account by mistake, the onus is on that third party to return it to you; it's not the bank's problem. Not that I think that's at all likely in the OP's case.

Thumbs Up

The sellers bank will only get involved if the owner of the account the funds were sent from says that it was a fraudulent transfer made by someone else and even then I wouldn't expect them to get their money back easily. Attempting to say that would go wrong as the transfer was made from a device previously used to login to their online banking, etc etc etc and that's not going to end well for the buyer. Laughing

If they wanted to try and pull a scam then they it would work far better if it was something paid for using Paypal. Laughing
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MCN
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Joined: 22 Jul 2015
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PostPosted: 22:58 - 27 Aug 2020    Post subject: Reply with quote

Ste wrote:
If she says she paid the money to the wrong account then her bank will tell her that transfers made to invalid account details will bounce returning the funds to her account.

She could ask her bank to contact his bank to request that the payment is returned and when his bank contacts him then he can decline their request.

Everything is fine.


Employer of someone I knew instructed their bank to stop a salary payment the day the person left the job.
Rather than stop the payment the persons bank froze the account.
Cunts.

Royal Wank of Scotland. Bluddy Foreigners.
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