Bank Transfer as payment option?

[OptiRick]

Over the years we've offered Paypal and another card processor, but almost everyone would use Paypal.
For one reason and another we've ended up Paypal only and get the occasional sniffy message from people who aren't keen. I'm not motivated to set up another processor so i've added the option to pay by cheque, folk are still into that but wondering about also adding the option to pay by bank transfer.

I know that it's safe to do so (provide acc no and s/c), but it just isn't sitting well, so i'm after opinions on this, and does anyone else offers this as a payment option?

 

[finleydesign]

We tend to find this as a very simple way to add another payment method. It seems to work well in business to business sales, but theres no real draw back, of course you won't have same sort of address verification etc

However, the customer wouldn't have the same level of chargeback access etc

 

[Opinion87]

I don't see any reason why you wouldn't.

 

[lesliedocherty]

A few of our suppliers have this as an option at checkout stage, don't know how it works as i have never used it, but i would for larger purchases to stop me going close to credit card limit.

 

[fc-ramon]

I'd say its fine. Bank transfers now have confirmation of payee for most banks with the rest adding it soon

 

[DontAsk]

Works very well for me, for the tiny minority of customers who use it.

Use it all the time for selling B2B via a number of Transferwise (USD, EUR, AUD, etc) accounts as well as my main UK account.

 

[DontAsk]

we've ended up Paypal only and get the occasional sniffy message from people who aren't keen. ?

Perhaps a message on your site that it's a LONG, LONG time since you actually needed a PayPal account to pay via PayPal. I haven't had anything like that in, probably, 10 years.

 

[Mr D]

Over the years we've offered Paypal and another card processor, but almost everyone would use Paypal.
For one reason and another we've ended up Paypal only and get the occasional sniffy message from people who aren't keen. I'm not motivated to set up another processor so i've added the option to pay by cheque, folk are still into that but wondering about also adding the option to pay by bank transfer.

I know that it's safe to do so (provide acc no and s/c), but it just isn't sitting well, so i'm after opinions on this, and does anyone else offers this as a payment option?

So long as you keep paypal as an option you probably won't lose customers by offering that method.

 

[Karimbo]

Use stripe as the fall back "proper card processor" from sniffy people. There are no monthly fees with it, just 1.5% fee on transaction.

I shut down worldpay and moved to stripe just in time, because I was paying £20 a month with worldpay and then covid19 struck and i had 0 sales in that b2b business services business.

A lot of people have their paypal accounts banned or blacklisted. I had a temporary issue with paypal a lot time ago. SOmeone in my household applied for a paypal but didn't complete the verification. Paypal basically suspended all paypal accounts from my address address. They would not tell me why my account was suspended no matter how much I escalated and asked.

Just found out about the issue in conversation and my brother completed his verification and my account was back up and running too.

 

[OptiRick]

Can't use Stripe to sell glasses sadly (which I found out after the effort and expense of getting it set up).
Couldn't get Klarna working on our site either for some reason, might go back and have another look at that.


Reason for my post was I wondered if anyone was uneasy about making their banking details public or had come across any bother in doing so.

 

[OptiRick]

Perhaps a message on your site that it's a LONG, LONG time since you actually needed a PayPal account to pay via PayPal. I haven't had anything like that in, probably, 10 years.

As I do have a Paypal account, i've never explored paying without logging in. Maybe I should and see what the fuss is about because even after pointing out that a Paypal account isn't needed, folk still seem to have bother.

 

[Mr D]

Can't use Stripe to sell glasses sadly (which I found out after the effort and expense of getting it set up).
Couldn't get Klarna working on our site either for some reason, might go back and have another look at that.


Reason for my post was I wondered if anyone was uneasy about making their banking details public or had come across any bother in doing so.

Jeremy clarkson.

BBC NEWS | Entertainment | Clarkson stung after bank prank

Clarkson stung after bank prank

Jeremy Clarkson found himself unexpectedly donating to charity
TV presenter Jeremy Clarkson has lost money after publishing his bank details in his newspaper column.
The Top Gear host revealed his account numbers after rubbishing the furore over the loss of 25 million people's personal details on two computer discs.

He wanted to prove the story was a fuss about nothing.

But Clarkson admitted he was "wrong" after he discovered a reader had used the details to create a £500 direct debit to the charity Diabetes UK.

I was wrong and I have been punished

Jeremy Clarkson
Clarkson published details of his Barclays account in the Sun newspaper, including his account number and sort code. He even told people how to find out his address.

"All you'll be able to do with them is put money into my account. Not take it out. Honestly, I've never known such a palaver about nothing," he told readers.

But he was proved wrong, as the 47-year-old wrote in his Sunday Times column.

"I opened my bank statement this morning to find out that someone has set up a direct debit which automatically takes £500 from my account," he said.

"The bank cannot find out who did this because of the Data Protection Act and they cannot stop it from happening again.

"I was wrong and I have been punished for my mistake."

 

[OptiRick]

This is the concern, but it does appear a one off and the bank were prepared to give him his money back.

 

[Mr D]

This is the concern, but it does appear a one off and the bank were prepared to give him his money back.

Want to try it?

Send me your bank details and address and I'll sign you up for something?
Donald Trump Legal Defence Fund.

No, can't be bothered doing that.

However many companies do supply a payment account - where money can be paid into - without trouble.
I've been paying storage container fees by bank transfer for years, been paying debt collection companies by bank transfer or standing order for years too.
Must be millions of people who have bank sort code, account number and address for at least one company. Without there being apparently any major outcry of stolen money.

Just a pain to set up payments when factoring bank security procedures in.

Perhaps keep risks down by having an account that money gets paid into but not kept. So transferred out daily.

 

[Simon-TP]

Is there a way you can get your checkout to send an email to the customer (with the bank details on) when they click to pay via BACS? This could be a solution if you are uneasy with publishing your bank details on the website.

 

[fc-ramon]

If it's WooCommerce you can change the default email templates or create an email template for BACS orders that has your details. Unsure about other services though.

 

[OptiRick]

Is there a way you can get your checkout to send an email to the customer (with the bank details on) when they click to pay via BACS? This could be a solution if you are uneasy with publishing your bank details on the website.

It's Opencart, yes i've set it up to do as you say, so only anyone placing an order will get the details so the exposure is very low anyway as the details aren't in the open on the website.