a charity managed to take £500 from his account.
akes to get it and sending a cheque (recorded or not) isn't that much hassl e for most.
en though the money has appeared in your account as 'availabvle funds'.
One example how this can happen is that someone steals a chequebook and wri tes a cheque to you. It will probably clear and you apparently get the fun ds. But it can get reversed once the crime has been detected, which migh be some time afterwards (but not beyond 7 years).
Actually 6 days (since Nov 2007) . Paying in day plus 6 is the final day that your cheque could bounce.
Meet in a carpark midway and exchange your goods for money. Making sure you have a method of making sure the money isn't forged. And a way of making sure you can prove the goods are as stated.
That way, the buyer need trust you no more than you do him.
It is very difficult. Banks will only reverse money if a scam. There a risk they might put it into a temporary holding account, but if given an email trail they won't send any money back to the buyer.
Personally I would be happy as an alternative to cash. Even notes can be counterfeit.
On rethinking this. It is a common scam to use someone else's bank account to pay for something, and of course the money gets returned to its rightful owner.
I would say in this sort of case it should be unlikely where the name of the buyer is the same as the paying account.
"Dave Plowman (News)" posted
No, only if a "mistake has been made", according to the wording of the standard Direct Debit Guarantee.
Who decides whether a mistake has been made is, of course, the 64-dollar question.
The safest way is by cheque in the post.
I'd do bank transfer. I don't know the rules on recovery, though - just fingers crossed for me, and not had a problem (yet).
Yes, good, tracked courier. And do it online. I took a parcel to the PO recently, thinking I'd take the hit for convenience. At the counter they wanted £22. Returned to the very same counter an hour later having booked online - £6.
Pretty safe - much the same as paying by cheque.
You're already in a risk situation - any transaction just is. As others have said, this looks a little suspicious. Best you can do is reduce the risk as much as you can. Maybe:
There was a story back in the 90s in a Sunday newspaper about a company that went bust. The Inland revenue just reversed the last 2 months salary payments from the staffs bank accounts. Apparently the company should not have paid them, being insolvent, and the Inland revenue had that power.
Which, as previously noted, will give them...bank details (bank name, account number and sort code)
When banks decided to get rid of the cheque guarantee scheme they were told to find an equivalent system which ensured clawbacks could not be made after the cheque had fully cleared. The "new" system came into use in Nov 2007 and effectively guaranteed any cheque paid in once 6 days had elapsed (clawbacks can still be made within the 6 day clearance period). The cheque guarantee scheme ended in June 2011.
The story I read made the point that it was Inland Revenue powers - top recover monies owed them - that permitted the "grab". The banks had no option but to comply.
Obviously some people then went overdrawn - with all the associated charges.
It may have been an edge case. However I would wager that rather than being *less* likely, 20+ years on, it's probably more likely. What with all the terrorism powers available to the state.
In fact, with the ongoing (questionably legal) Home Office crackdown on immigrants (where banks are required to freeze all accounts of people with funny names) it's arguable that the least safe place for money in the UK is a bank.
And what did the inland revenue do to get money from those former employees who for various reasons had innocently closed those bank accounts and opened others with banks or building societies? Given a reasonable number of people some will have done so especially if losing their job meant a move elsewhere and getting a new bank the need to move having broken the inertia to change.
I reckon its just a story and those special powers existed as much Supermans.
G.Harman
Beware, there is a scam for BACS payments.
The buyer pays you way too much, saying it was an accident. They ask you to pay the excess money back and give you the account details. This sounds innocuous. However, this won't be the original account, but a different account. You just helped them launder the proceeds of crime.
When this is tracked through your account, your bank will give you 2 weeks notice to close all your accounts with them, and they won't tell you why. You probably won't have any success opening a bank account anywhere else.
Just a quick update: agreed with buyer to list it for him on eBay - he paid the fees.
Such powers probably do exist for insolvencies because they'e a golden opportunity for last minute dodginess such as selling off stock to your mate for next to nothing, paying friends vast amounts for poorly documented overtime, buying goods from pals at vastly overinflated prices, and so on.
HMRC were seeking such powers to collect unpaid tax. Can't remember without looking it up whether it was passed.
So you send it to the original account. Or tell the bank to provide evi= dence of your wrongdoing, which they won't be able to.
-- =
Old statisticians never die. They just get broken down by age and sex.
Aha, thanks. I did not realise teh rules had changed.
Robert
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