Buying and Selling in Classifieds - a word of warning


Pwynnej

Link Posted 25/07/2011 - 13:15
Firstly, this is in NO WAY criticism of the people I have dealt with when buying and selling stuff, so far I have had model buyers.

This concerns timing, esp in terms of bank transfers. I, like many others, will send shipments on receipt of money in our bank account. Sometimes, the buyer has expressed a desire to receive the item ASAP...always happy to oblige.

I've noticed a bit of a disturbing trend amongst recent transfers, that after I have had notification that the transfer has been organised the same amount doesn't appear in mine for 3-5 days. Yet the payers money disappears from their account almost instantaneously. I don't care about the banks saying it'll take a few days to process but in this day and age it's outrageous that the banks sit on the money while the payer is waiting for his/her new Pentax item - this will inevitably cause friction between buyer and seller....where's my item....where's the money????. With my bank and the bank I used in NL transfer was immediate - one such transfer took place quicker than it took me to start telling the payee the money was on its way - and his desk faced mine...

So....please bear this in mind when making transactions through the classifieds that if you are after an item in a particular hurry the banks will sometimes be a rate limiting step....I'm not telling people what practice to adopt but just to be aware

Peter
Z-1p, K-1, P50
F50 1.7. FAs 24, 35, 50 1.4, 85, 135. DFA15-30, DFA24-70, D-FA*70-200. D-FA 100 (gone now!). The SMC-FA Limited Trinity.
Metz 45 CL-4, AF500FTZ. AF540FGZ.
Some Mamiya and some Nikon

fatspider

Link Posted 25/07/2011 - 13:19
I suppost it depends on the banks involved, I've bought and sold things through the classifieds and transfers have gone through the same day, apart from one occasion when some idiot filled in the information and failed to click OK
My Names Alan, and I'm a lensaholic.
My PPG link
My Flckr link

Snootchies

Link Posted 25/07/2011 - 13:19
I'm certainly considering changing banks. I used to be (until recently) with Alliance & Leicester. Instant transfers. All was good.

But then they had to go and merge with Santander. I can't deposit cheques at my local post office anymore.

This week, all my transfers took 3 days (which I did'nt expect). I now realise I have taken a step back!

At least I know where I stand now - but if anyone else is in the same boat (formerly A&L and now Santander) just be aware that we have inherrited a poorer service. Now there's progress for you!
Bob

My website (Hadfield Photography)

Pentax Gallery Artist page:link

Flickr Photostream: link
Last Edited by Snootchies on 25/07/2011 - 13:21

Northgrain

Link Posted 25/07/2011 - 13:27
Drives me nuts as well - some of the transfers I make between accounts are instantaneous, others take up to five (count em, five) working days. I've yet to work out why some combinations of accounts are hit, others not.
Tim

Some of my vaguely better stuff

Don

Link Posted 25/07/2011 - 13:32
I've lost all hope and respect for the banking institutions.
I simply prefer cash on the barrelhead, face to face transactions. I know that can be limiting and frustrating at times.... but it seems better to me over all.
Fired many shots. Didn't kill anything.

dougf8

Link Posted 25/07/2011 - 13:35
TSB were online in real time back in the 1980s. It's good to see all the banking profits over the last 25 years have been spent on an interlinked slick infrastructure and not frittered on bonuses for short term gambling city execs.

Oh!
Lurking is shirking.!
Last Edited by dougf8 on 25/07/2011 - 13:51

Mike-P

Link Posted 25/07/2011 - 13:58
Snootchies wrote:

At least I know where I stand now - but if anyone else is in the same boat (formerly A&L and now Santander) just be aware that we have inherrited a poorer service. Now there's progress for you!

I think fast transfer does exist with Santander, its just that it takes 3/4 days the first time you send that person a payment but were you to do it again in the future it should be instant.

Still crap though .. how many times would you buy something off the same person. (I have a few times but normally I warn the seller it can take up to a week).
. My Flickr

Pentaxophile

Link Posted 25/07/2011 - 15:22
A different issue but similar, I bought something shortly after I had registered my bank account with my Paypal account. It then took about a week for Paypal to complete the process! Paypal is slow if it's set up to wihdraw funds from your bank account. Fortunately the seller was patient (I've never had anything but positive experiences buying and selling on the forum) and I wasn't in a mad rush either.
[link=https://500px.com/will_brealey/[/link]

thoughton

Link Posted 25/07/2011 - 16:09
All banks stink, bunch of crooks the lot of 'em.

We should go back to carrying our gold pieces in our pants. In fact I have a rather nice kangaroo scrotum money bag which I may start using.
Tim
AF - Pentax K5, Sigma 10-20/4-5.6, Tamron 17-50/2.8, Sigma 30/1.4, Sigma 70-200/2.8, Tamron 70-300/4-5.6
MF - Vivitar CF 28/2.8, Tamron AD2 90/2.5, MTO 1000/11
Stuff - Metz 58 AF1, Cactus v4, Nikon SB24, Raynox 150, Sigma 1.4x TC, Sigma 2x TC, Kenko 2x macro TC, Redsnapper 283 tripod, iMac 27, Macbook Pro 17, iPad, iPhone 3G
Flickr Fluidr PPG Street Portfolio site
Feel free to edit any of my posted photos! If I post a photo for critique, I want brutal honesty. If you don't like it, please say so and tell me why!

techno-terminator

Link Posted 25/07/2011 - 16:24
I used to be able to get an instant transfer with the BofS - have made several purchases from Forum members that way - was always told that the money had been accepted by their bank immediately and would be available for their use within 2 hours .

Now that's all changed - up to 3 days for a transfer - most irritating . What's even worse is that it also applies to my Savings account with them so I really now have to keep more money in my Current account so I can do an instant [ well 3 days ] purchase if need be , instead of transferring from the savings account [ 3 days till it reaches the Current Account ] and another 3 days to transfer it to someone else , 6 flipping days !!!
let the education continue

proud owner of a couple of cameras and a few bits and bobs

fatspider

Link Posted 25/07/2011 - 19:14
Quote:
We should go back to carrying our gold pieces in our pants

And I suppose we should all wear a gold earing to pay for our funerals
My Names Alan, and I'm a lensaholic.
My PPG link
My Flckr link

Don

Link Posted 25/07/2011 - 19:34
thoughton wrote:
All banks stink, bunch of crooks the lot of 'em.

We should go back to carrying our gold pieces in our pants. In fact I have a rather nice kangaroo scrotum money bag which I may start using.

I do not know what to make of this post... my condolences to that poor kangaroo... you sick monster you... lol!

Fired many shots. Didn't kill anything.
Last Edited by Don on 25/07/2011 - 19:35

gregmoll

Link Posted 25/07/2011 - 20:15
When it comes to electronic banking SA is one of the best. I can transfer between my accounts at the same bank or any branch of the bank and the transfer reflects immediately in the other account.

If I pay a supplier who uses the same bank, they also see the payment immediately (seconds) Between different banks takes two days.

Greg

Gwyn

Link Posted 25/07/2011 - 20:46
Even between banks here in the Netherlands it takes seconds normally, though it depends on the banks in question. Sometimes it takes hours, but never days.

A recent Euro transaction from a buyer in Slovakia to me took a day.

Algernon

Link Posted 25/07/2011 - 21:31
I always wanted to be a pony express rider for Wells Fargo carrying
money between banks in the wild west
Half Man... Half Pentax ... Half Cucumber

Pentax K-1 + K-5 and some other stuff

Algi
Add a Comment
You must be registered or logged-in to comment.