So a guy s had sent me an SMS offering to buy my bike, will do bank transfer. Is this safe for me? I don’t want him ridding then cancelling the transfer… Not sure that’s even possible is it?
Had a similar question when I sold a bike recently. Once the transfer has been made that’s that. So if the cash shows in your bank you should be fine. Obviously don’t let the bike go til this is the case
That’s how I bought my first bike and car
Thinkinf about it, it probably is.rhe more secure way. If the cash shows up in you account, it’s done.
Cash, on the other hand can be fake.
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It’s safe but if you want yo be doubly sure on receipt transfer it to a separate savings account.
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It’s safe but if you want yo be doubly sure on receipt transfer it to a separate savings account.
That is super smart.
Transferring it to another account won’t help you, as if the transaction is reversed it just puts your account in debt so you’re left in the same position, x-amount down.
I’d recommend asking your bank for advice.
I’ve never done it like this, but the way banking is now and how available it is I think we’ll start seeing this become the norm.
Agree, bank transfers are safe. Once you confirm you’ve received funds into your account you should be all good. Check with your bank to be sure if there are any risks. They usually want to know why money came in anyway (at higher amounts it is due to money laundering regulation).
I sold a bike for cash once. It felt a bit shady counting stacks of small bills in public.