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UK national bank transfer reversals

thesmoothllama
Sun, 21 Jun 2015 19:53:17 GMT

If I wait until the end of the next business day following a bank transfer, will this protect me from account reversals? Or could these transactions still be reversed like two business days later?

Tickhf
Sun, 21 Jun 2015 20:03:23 GMT

It could be reversed for up to a week or so. I used to work at barclays, So that wouldn't protect you much. Just make sure you get the right information off the buyer ID/Card and make sure the name matches

bristol
Sun, 21 Jun 2015 20:09:35 GMT

@Tickfh, were you part of the fraud team? @thesmoothllama, I had fraud investigation and lost bank account because I received payment which was sent month before. It was sent from Barclays. Also requested ID and debitcard from the buyer but my bank (TSB) didn't want to investigate it and just closed the account.

Tickhf
Sun, 21 Jun 2015 20:16:50 GMT

Yes I did. I've rarely seen cases where payments were reversed after a month. But yet again it all depends when the holder finds out his/her money has been stolen. When you requested ID/Card did the ID name match the payment?

Tickhf
Sun, 21 Jun 2015 20:29:22 GMT

was*

W941buyer
Wed, 24 Jun 2015 18:42:37 GMT

UK banks do reverse anything, anytime, if the eu or the government or someone trusted by them tells them that it is fraud. This human intervention risk is a weakpoint in bitcoin; but then so is swapping whoopwhoopbonds from the casa di criminale di whoopwhoopland or any other fictitious currency for a sensible peer-verified currency such as bitcoin.