Payment Verifications

[Ricoby]

Just for information:
Payments from FNB can be verified on their website using the reference number on the payment notification SMS.
Nedbank also has this service. Standard bank does not, neither do Capitec, ABSA or Tymebank.
Be wary when accepting normal EFT's from these banks.
Some of the banks take up to 48 hours to transfer interbank. The Buyer can cancel the payment anytime (especially Standard Bank) with just a phone call and no verification from the seller, as soon as he/she knows that the goods are on the way.
It is always better to either request Immediate EFT (called Pay Now by some banks) or state that goods will only be released on payment reflecting in your account.
Not many people use cheques nowadays, but it was a common thing in the past to deposit a cheque into the buyers account, which reflected but was not available for up to 14 working days awaiting verification. The Seller often let the goods go during this time and then the cheque bounced.

Just thought I would post this as an awareness. I was almost caught with the cheque deposit scheme one time. Fortunately, I did not release the goods, despite being harassed by the buyer that payment had been made.

[NineThreeKilo]

Why not just use PayPal?

Any transaction (outside from a face to face large transaction ie land/aircraft/etc or something) EFT request = scammer IMO

[Ricoby]

PayPal is definitely an option which I like to use on international transactions. Not everyone on Avcom uses PayPal though. Sad thing is with today's technology it is very easy to produce fraudulent Proof of Payments, especially in PDF format.

[Zian123]

Why not just use PayPal?

Any transaction (outside from a face to face large transaction ie land/aircraft/etc or something) EFT request = scammer IMO

Be wary of PayPal payment especially when shipping because scammers are offering this payment method all day on Facebook (when they are buying for their cousin that stays in Johannesburg but they are staying in kzn and for some reason on Somerset west marketplace?) and then they would either get the package form depot or someone else collects the package and then they submit claim to PayPal for claiming they never received and this usually works in their favor.

So stay with instant eft not worth the risk with PayPal.