IBAN / BIC Transfer
 

hi, anyone know how secure IBAN/BIC transfers from a European buyer are? By secure I mean can they wait until they get the goods and do a chargeback like they can on creditcard payments if the payment turns out to be fraudulent etc?

The amount involved is not insignificant either (£3k) so obviously I need to be sure!

I believe its the same as we have in the uk, ie bacs/chaps, you would need to check driectly with the bank that is sending the funds, most european banks have a worker that will speak good english.

if it is the same they wont be able to grab the funds back.

hth

james

I just found this, not sure if it answers your questions though :confused:

APACS - Payments Integrity

UBS - IBAN and BIC

:thumb:

If you give someone your IBAN number, you are giving them your full account details, so be aware that they may be able to take funds as well if it's a scam ! This is not the same as them claiming a refund as you asked.
Not really an easy way around it - perhaps set up a new account or use an old/empty one and transfer the funds out to your main account as soon as they arrive.

cheers that link explains what it is but not whether it can be used to defraud someone out of their goods!

Basically the key thing is whether the money is untouchable once it hits my account, unlike a payment from a dodgy credit card or stolen cheque!

This can't be right surely? Your account number is on the bottom of every cheque you write out! :confused:

did you look at this one?

APACS - International Bank Account Numbers

Yeah but I can't see where it says anything about chargebacks? :confused:

ask?

APACS - Contact Us