Listed on gumtree. which is safer- bank transfer or paypal? (2025)

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• prowla Posts: 14,038 Forumite

  

  7 May 2022 at 1:58PM

  PayPal Goods & Services (or whatever they call it) is safest for the buyer, but doesn't protect the seller; PayPal Gift/Friends&Family is unsecured and usually safest for the seller (it's what scammer sellers like to use).

  Bank transfer is semi-secure for the buyer, in that if the seller is fraudulent the bank can do a chargeback on the buyers behalf; however, the seller is vulnerable to the buyer being retrospectively found to not have funds (so it's what scammer buyers like to use).

  Bitcoin is an assured payment and untraceable, but it does take a bit of effort and you're subject to value fluctuations.
  

  The bottom-line is that all of the payment methods are only good if both seller and buyer are genuine.
  

• See Also

  Payment required via bank transfer on gumtree - Is it safe?Safest way to receive money when selling on Facebook marketplace and Gumtree

  kalsha Posts: 1,124 Forumite

  

  7 May 2022 at 2:14PM

  Thank you prowla.
  So it is not clearcut!! Need to think it over.
  Previously I have used bank transfer and a couple of times paypal F&F.
  Never looked into bitcoins and I don't think I want to!

• soolin Posts: 74,222 Ambassador

  

  7 May 2022 at 2:50PM

  prowla said:

  PayPal Goods & Services (or whatever they call it) is safest for the buyer, but doesn't protect the seller; PayPal Gift/Friends&Family is unsecured and usually safest for the seller (it's what scammer sellers like to use).

  Bank transfer is semi-secure for the buyer, in that if the seller is fraudulent the bank can do a chargeback on the buyers behalf; however, the seller is vulnerable to the buyer being retrospectively found to not have funds (so it's what scammer buyers like to use).

  Bitcoin is an assured payment and untraceable, but it does take a bit of effort and you're subject to value fluctuations.
  

  The bottom-line is that all of the payment methods are only good if both seller and buyer are genuine.
  

  I disagree, a bank transfer can’t be made without available funds, so as long as you get cleared funds into your account the buyer cannot recall it. A bank transfer is instant , it isn’t like a cheque, it can either be sent or refused.

  However buyer might be reluctant to do a bank transfer, and if you are posting might want to do PayPal goods and services and if you accept that then all normal rules apply. IE you must post with conformed delivery to the address given by PayPal.

  I sell a lot on FB the majority is paid by PayPal G and S although I do still get f and f payments and the occasional bank transfer.

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  1

• GadgetGuru Posts: 864 Forumite

  

  7 May 2022 at 3:24PM

  Bank Transfer is safe and cannot be subject to chargeback - thats a credit card thing.
  I sell through Gumtree quite often and do not accept PayPal - I will take cash or bank Transfer only. All my bank transfer transactions have been safe - once you have the money in your account, hand over the item. Do not do anything without checking you have the cleared funds in your account first, which fortunately only takes seconds these days!

  I regards Bank Transfer safer then even cash - I've been stung with fake £20 notes (the old paper notes) a few years back (£700 worth). Even the bank said they were the best fraudulent notes they had ever come across!
  Fortunately I was able to recover the funds once the police tracked the buyer down - it took a year of searching and sim card checks/searches to find him, but I remained persistent and the investigating officer finally delivered!

  I know this is 'only' a £25 sale, but bank transfer is safe, and likely is cash for this amount.

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• pinkshoes Posts: 20,592 Forumite

  

  7 May 2022 at 3:58PM

  I sold something on Gumtree the other week for £160 and the buyer did a bank transfer when he collected.

  The other option I gave him was PayPal Friends and Family (as he collected and examined the goods).

  Should've = Should HAVE (not 'of')
  Would've = Would HAVE (not 'of')

  No, I am not perfect, but yes I do judge people on their use of

  basic

  English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)

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• kalsha Posts: 1,124 Forumite

  

  7 May 2022 at 4:50PM

  Thank you everyone. I will see how the buyer offers to pay.

• Olinda99 Posts: 2,042 Forumite

  

  7 May 2022 at 7:05PM edited 7 May 2022 at 7:07PM

  All this is, of course, subject to the buyer not fraudulently using someone else's account...

  https://forums.moneysavingexpert.com/discussion/comment/78606465