Hi all

I'm selling my Indy at the mo, I had an Italian chap come and look at the car on Saturday. We have made a deal and he has agreed to buy it. He has now travelled back to Italy and is going to send me the full amount by Bank transfer. He has asked for my IBAN and BIC codes to make the transfer. He has said that when the money is clear in my account he will then send a transporter to collect the car.

I know that from UK to UK a bank transfer is a very safe method of sending funds.

What I don't know is how safe it is from Europe to the UK using the IBAN / BIC numbers.

Can it be reversed? Is it safe?

Please help!

Thanks
Mark.

Oh, also will there be a charge for transferring the money to my account or changing from Euro's to GBP?

er, i wouldn't tbh.
sounds exactly like a scam, only he's come to see the car. otherwise, follows the same structure as all the scams

he can only put money into your account NOT take it out.
wait till it is in the bank and cleared.
move it to another account. the money is yours

you will be charged by your bank approx £25 - 45 for the pleasure

cheers

Paul

i am notoriously suspicious, but nothing here is particularly scam like. Afterall, he wouldnt want to travel abroad with thousands in GBP that he might not need.

But you raise a valid question about whether it is reversible, and i cant answer that for youl.

It is completely safe, it is the same as transfering money inside the UK. The Bic code is the international number of your bank and the Iban is your international bank account number. It shouldn't cost you anything if he uses 'shared' cost.

I have transfered money to a foreign account many times this way.

[Edited on 28/9/10 by ruudbeckers]

I`ve also transfered monies to a family member in Germany using the IBAN and BIC codes. Your bank will be able to supply these codes to you.
A mate of mine has just sold his Westfield to a chap in Spain. The purchaser e-mailed through copies of his passport and ID documents to show he was a genuine buyer when the deal was done. Might be worth you asking your buyer to do the same? Gives you peace of mind.

Completely safe, he can elect to put the money into your bank in Sterling and he pays all charges its very quick as well.
I use it 2 or 3 times a year to put money into my French account and Ive also rented Villas and bought stuff using it as well.
The bonus if you do it the other way around is any conversion is done at commercial exchange rates which are a lot better than tourist.
Actually you've reminded me do get some money sent over as my French property tax is due soon.
Cheers,
Bob

Did this a few times as well. He should be able to tick a box on the transfer form that says "let me pay all charges" or something similar. I paid for my holiday in Kenia this way (and yes, I was VERY nervous about there being someone to pick us up when we got off the plane in Nairobbery...)

Should not be a problem. Not everything is a scam.....

Thanks for all your help chaps

I've asked the guy so supply me with photo ID showing his name and address, hopefully he is legit and won't take any offence with me asking.

Thanks again

Mark.

We do transactions like this every week, ask for proof of payment he will get that from his bank and copy it to you.

Working for a company that pays 500 tansactions all over the world every month its the way to go we use HSBC and supply IBAN and BIC codes

i think IBAN stands for Internation Bank Acount Number .

and

BIC Bank Identifier Code

anywhere in europe its the way to send money in a way its a bit like Bacs but world wide.

Regards

Agriv8