Hi guys,
First time using gumtree. Going to purchase a high value $1000+ item with the seller through meet up soon. Because of the high value I'm not really sure I want to carry that much cash in case the trade falls through.
Is it acceptable to do a on the spot bank transfer if I want to buy?
Thanks
I'd suggest you to go with a mate, stay away from cars / train stations.
Best place is near/at a police station.
Hide the money somewhere concealed (perhaps in a slot compartment in your bag) and wait until you are satisfied with the laptop.
Anyhow all the best
how did u know its a laptop o.O
conspiracy theories! are u the seller??? :P
Interesting indeed! Who said anything about a laptop?
Apologies!
I have myself been trying to buy a laptop off gumtree so it's just ticked off in my head.
Haha if I was the seller…maybe I would've suggested he meet in an alleyway :P
Your user name seems apt, anyway ;-)
Meet in a bank. They normally have a few chairs etc at the front. If it all checks out, withdraw cash and hand to seller.
A bank isn't a place to buy/sell items. You'll stick out like a sore thumb and you'll probably be asked to leave.
Do it at EB Games, dero's in there always look bored and on drugs, pretty sure its looses 1million a year due to shoplifting and high staff
I don't think the bank minds at all. I have purchased a car and the deal was made and paper signed at the bank. You came to withdraw your money not just using it as only a place. If they do ask you to leave, maybe ask them if you can get your account closed and money transfer to another bank.
+1 for meeting in a bank, you get the security surveillance, all of which you have paid for throughout the years anyways :)
For small portable items - shopping mall.
- easy to find parking
- its public place with cameras
If I am buying/selling laptop, usually meet @ McDonalds, added advantage
- can test the laptop .. free wifi, power point.
:)
Is it acceptable to do a on the spot bank transfer if I want to buy?
it is up to the seller as to what he accepts. i wouldn't accept a bank transfer. cash only.
Good idea at a bank!
Are there any reasons why as to not accepting bank transfer? Not instant?
The issue here is that there is no instant bank transfer in AUS. I wouldnt mind a bank transfer if it shows up on my account as soon as the buyer transferred.
Though i heard that transfer between CBA accounts are instant. cmiiw.
You've heard correctly. CBA to CBA transfer is instant.
Same with ANZ
And NAB
I believe this is true for all banks. If both the accounts belong to the same bank then the transfer is instantaneous.
Can confirm CBA to CBA is instant.
Sold a car last month, confirmed that the buyer has CBA account and after the car checks out OK, he transferred the fund from his phone. I check that the money is in my bank account and off he went with his new car.
If different bank, I suggest using bank cheque (not personal cheque), cost $10 so not free, but still, it's 1% or less of the transaction.
But then again you're the buyer, so it's the seller's problem which way of paying is acceptable. You just need to make sure you are getting what you are paying for.
When I worked for cba 2 years ago that was true but also if it was the first transfer to that account you could not access the money for 24 hours.
Cash. I've sold parts on gumtree for a few hundred. And bring 100's, not a stack of 50's. Forget bank transfers on gumtree its strictly face to face. $1000 isn't that much cash wise. If you had a few $10K stacks then yes, but a $1K eh.
I've done similar transactions on gumtree, make sure you bring a friend - give the cash to your friend to hold, and print out a contract(plus copy) listing everything - time, date, full names, amount, item, description etc.. and include signatories and also have a payment received in form of cash/etc… For name and details, ask for a copy of his drivers license (he can block out sensitive information).
I would have no problems if the person is with the same bank and both have the smartphone app.
I did this quite similar yet it was with PayPal. I originally asked the seller if he would accept PayPal and he was skeptical at first but I said I will transfer it in person when I see him. Maybe you should do that but make sure you're both with the same banks or he may not approve as different banks means extra days to clear payment
If the person accepts, they are trusting you not to call up your bank 10 minutes later to cancel the transaction.
Whats the item?
Meet up in a shopping centre where there is a bank or atm.
Check item out, have him wait 5 minutes while u get the cash, trade.
It seems like you are not worried about being robbed by the seller as much as being robbed if you are still
carrying cash around because the deal fell through.
So the obvious answer is don't be carrying the cash until you know it's all good.
sold my 5dmk2 on gumtree for 1200+, buyer brought cash and no problems at all. I wont accept bank transfer too.
Buy a bank cheque. That's what we do when we buy second hand cars. Will set you back about $8 or so to do it.
Free with Citibank.
Sold plenty of stuff on gumtree up to few k worth.
I always meet at a fast food joint near my place as:-
Geez. I think you guys are all being far too paranoid over what is really quite a small amount of money.
When I bought my last two cars (worth about $10k each) I just rocked up to the seller's house with $10k in cash, counted it out, they double-counted it, then signed over the rego papers and a sale contract which I had prepared and I took the keys away.
The truly dodgy people on Gumtree are the ones you don't meet in person. "Oh yeah mate I'm in Grafton but I can send the tickets express post if you send me the payment"
Have done this myself but can go pear shaped. (bought private sale car with large amount of cash) Be careful.
When i bought my car in uni, the seller delivered the car to my house, counted my 40k in cash and i paid for his taxi back.
10k is what i pay for watches, in cash.
I met up on the spot to buy a car, then we went to the bank together and I transferred $30k to him through the cashier. I then just handed him the bank transfer receipt so I don't see why not
Bank to bank transfer is risky as it's not promised that it will be cleared even if it has had prior transfer done before, even with CBA to CBA, I think it has to do with the value as well. If it hasn't cleared there is always a chance of dishonour.
A bank cheque is also risky, as the buyer can give you the bank cheque then claim it was lost and have it cancelled at their bank, costs them $30 or so but your cheque will be dishonoured as it takes 3 days to clear regardless.
In any case a straight transfer in branch is the safest bet as the funds are cleared straight away and they can't legally reverse the transaction, can only request a recall which requires you to permit the funds being returned. When I sell cars I would ask them where they are transferring the funds from and open an account for them to transfer it into, $5 for an account is a whole lot less of a hassle than chasing up a bad cheque payment.
But as mentioned above, $1K is peanuts really… even if it's a bit more, withdraw $300 or so a day prior or in the branch beforehand, if the goods are good to go then get the rest at the ATM. Meet at a public place like a servo or maccas where they could get the rego incase anything goes bad, but over $1k I probably wouldn't even worry.
Meet at the Casino and put the money all on black before the trade so you can buy two laptops.
Just do to him everything you are afraid he will do to you. What will happen then ?
Bring bikies with you … they seem to be the universal solution to problems on here … just saying …
I sold things 1k from gumtree before and bought things near 1k before…
when sold my imac, they picked up at my place so i get the cash first before carried it out.
However i guess if you can do it at mc Donalds or public place… cameras around should be good…
anywhere you sell or buy, check the person u deal with and check surrounding areas
oh boy, I wouldnt do anything at home. When they know where you live, if something goes wrong with the item (their fault), they will still come at you AND your family or housemates. Safety issues.
Indeed. I had one stupid buyer who insisted in meeting up in half an hour to buy my new camera. After he paid and we went home, he realised it wasn't the model he and his wife wanted. His wife then accused me of selling a fake branded camera, then asked me for my address. haha I dont think so. Luckily we met at a Public place.
Thanks guys for the pointers. Was just a little worried since never used Gumtree.
It wasn't a laptop :p, but a camera lens. Sadly front element scratched and back focused which I think may be due to a drop. Reverted to eBay.
If I am the seller, I wouldn't accept it.
After deal has been made, I'd suggest to the buyer to withdraw money from the nearest ATM or from a branch. as most banks' daily limit is $1000 for atm withdrawals.