HELP! is it a scam or genuine - selling bike to overseas buyer.

A bike dealer from Holland saw my ad in MCN, wants to buy my SV and has asked me to supply a iban and swift code for my account. He says once the money is in my account he will arrange collection.
Is this a scam or OK? Never had anyone call me from abroad.

[yorkie_chris]

I would not trust it TBH.

Have you checked with your bank for details about what is involved with getting these in place? You may find that there's no way he could refund himself or access any more funds.

Loads of buyers on the continent are buying bikes in the UK because the exchange rate makes it very favourable to do so. I have sold cars over there for huge profit in the past 18 months.

Rather than ask people who wouldn't have a clue about how the banking system works, ask your bank.

Maybe a private buyer, but I wouldn't think a dealer would go to all that trouble for just a second hand bike, do you? And if it did (I really can't see why it would), it would probably source a bike from another respectable dealer within the UK.

Stay clear is my advice!

I say that, then read Lozzo's post... Ha. I dunno', I wouldn't personally!

Thanks all. Will check with bank and see what they say before deciding anything.

[Drew Carey]

Agree with Lozzo, ask your bank two questions.

1. Can I accept a SWIFT into my account and what is the IBAN number for the bank.
2. Once payment is recieved, are they able to reclaim the money without mine or the banks envolvement, or would I have to send it back?

If they ask why to question 2, then just tell them what you are doing. My understanding is that electronic cheques can be done through this process, and can subsequently bounce. But the bank should be able to clairfy that.

Do you have an old active bank account or another un-used account at all? Personally, I would use that one, as means if it is dodgy, you just shut the account off and all they had was your name and the IBAN for a dead account. Wait for the money to clear, once cleared, transfer to your own account. Then wait and see what happens.

As another alternative, consider using Escrow.com, there are lots of dodgy versions of escrow out there....but the original www.escrow.com is legit and very good. But it ain't cheap!!! Or even Paypal etc.

That being said, you are now getting into the realms of this being a pain in the harris. So I would simply say he is more than welcome but would be cash on collection. End of story. If he isn't interested, just keep trying to sell in the UK. That is what I would do. Can't beat cash in hand.

[embee]

I'd feel very nervous about that one, from what I hear the top countries to avoid for anything like this are Nigeria (of course), Canada, Netherlands. Is it worth the risk?

Id bet its totally fine. We have Dutch dealers comming over all the time for bikes. Bikes fetch alot more out there than here.

Just ask him to bring the cash over, go down the bank with him to ensure the exchange rate for the Euro's matches what you want for the bike and for them to check the money. Thats what we do.

[Sir Trev]

My expenses get paid via an overseas bank and I had to provide SWIFT and IBAN numbers to set up my profile. Both should be on your bank statement.

Of course I would not want mine given out to someone I did not know!