jono300

iTrader: (8)

Anyone advise me what details I have to give someone if they want to transfer funds into my bank account, account number etc ??

cheers

Speech

Think they just need your name, Account number and sort code.

jono300

iTrader: (8)

Thanks mate appreciatte the quick reply !!

David Lock

Assume this is all in UK? Overseas woud require more info. Also assuming it's not for suspiciously large amount.

lpski1

A/c number
sort code
overseas, add your SWIFT number

jono300

iTrader: (8)

I tee it apart from transferring funds into your actual account theres not a lot else the person receiving your account number / sort code can do with it ??

just slightly wary about giving out these details should I be ??

lpski1

They would need a lot more information than that to take money from it. Think of all the security info you give when you are either in your bank or you phone them!

If its an ebay transaction then you should use Paypal and not direct.

The Snug Rhino

ever used a cheque? if so you have given away these details many times before - they are useless to anyone wanting your money.

fast bloke

Unless they happen to have a copy of your utility bills, passport, driving licence and signature on file

The Snug Rhino

i hear rio is nice

jono300

iTrader: (8)

Thanks again folks appreciatte the advice, any idea how long it actually takes for any paid in funds to fully clear your bank ?? am sure its not instant transfer ie. the sender could still take back any paid in funds within a few days hence the recommendation that the funds are kept in the account until fully cleared.

anyone any idea how long this clearing takes ??

Kirsty Towler

From past experience Barclays to Abbey is usually about 3 working days.

Sonic'

Dont you need the IBAN number too? or is that for foreign transactions

My Bank IIRC is about 4 days, my other bank is even longer

The Snug Rhino

normally 3-4 days unles you ask for a same day transfer (which will normally cost you £20-25.

joey_turbo

iTrader: (26)

IBAN is a combination of account and SWIFT details. It can be used just on its own to make payments. But its mostly in Europe they use it on its own.

jono300

iTrader: (8)

Okay thanks again for all advice, appreciatte that.

dowser

IBAN, bank name and town, beneficiary name and town. I thought all of Europe was now requiring IBAN's?

Receiving bank will keep the money while they 'clear' it - their polite way of using your money to make themselves money. When I lived in Switzerland it used to take 3-5 days depending on the bank.

Depending whether your bank shows you only cleared funds, or both cleared and uncleared - basically, don't release the goods until you know the funds are cleared into your account. Swiss banks don't show uncleared funds.

Richard