Now, i know it's fine and 100% safe but i sold something on ebay and the chap who won the item is from the netherlands. He wants the item asap so wants to do a bank transfer. I said ok and sent my account number, sort code & account name.
He's replied saying he wants the name and city of the bank, which i sent him, now he's sent this;

Soooo i'm assuming he hasn't got my last email in which i said the bank name & city, but whats a BIC or IBAN code?

Or is he upto something else? when i've transfered money i've only need sort code, account number & account name, or is it different cos he's from the netherlands?

any advice?

 

Perfectly safe and legal.

An IBAN number is used to transfer money across Countries in Europe. If you dont know the IBAN for your account give your bank a quick call and they will tell you it.

 

Only thing I have a problem with with bank transfers is that if something goes wrong (like you pay money to someone and they don't send you anything) how can you claim it back?

There's no proof of a "sale" when using bank transfer - it's just "giving" someone money really......

But yes, perfectly safe from a security point of view...

 

Some more info...

IBAN
BIC

I would also assume, if it's a direct account-to-account transfer, you could call your bank in the morning to check that the funds are definitely marked as transferred across to your account? And THEN arrange for the item to be sent, once it's confirmed?

 

what bank is it out of interest?

 

Definitely the easiest way to received funds from other European coutries.

Only thing is your bank will charge a set fee or possibly a percentage of the total (e.g. HSBC charge Ł6.00 with business accounts) which will be deducted from the amount you receive so ask the buyer to select to pay the fees at their end and then you won't lose out.

HTH

Cheers

Natalie

 

hi,

Totally normal and legit.

You dont need this info in the UK as the banks can work out whos sort code is whos.

Whenever i have transferred money abroad for goods from e-steal i have gone into branch with all details includng the full address of the bank.

I think it cost me a fiver last time i did it with Lloyds?

HTH

Silver

 

lovely job, thats all i wanted to know, cheers people!