Buyer Protection When Paying with Transferwise or Revolut

bingsta on 15/02/2021 - 11:28

Am looking to purchase an item privately from overseas and the seller says that they would like to use transferwise or revolut. Has anyone had experience using these platforms for such a purchase.

I have previously carried out similar purchases though only through paypal which was fairly reassuring because of the buyer protection. From what I can see, there is no equivalent buyer protection with transferwise or revolut. Seems like it is equivalent to doing a bank transfer?

Many thanks in advance

Financial

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Wise
Wise
Revolut
Revolut

Comments

  • Hybroid on 15/02/2021 - 11:30
    +3

    Seems like it is equivalent to doing a bank transfer?

    Transferwise certainly is. There's no recourse or protection so be careful.

  • netjock on 15/02/2021 - 12:37

    Revolut the same (I use it to transfer AUD to GBP) unless you are paying by Revolut card.

    Sounds like transfer scam.

  • Quantumcat on 15/02/2021 - 15:57

    If there's no buyer protection then ask them to send the item first and you'll pay them once you've received it. They're asking you to trust them so only fair they are willing to trust you.

  • ilikeradiohead on 15/02/2021 - 16:33

    I'd probably steer clear of this one, you have literally no recourse if they're lying. It's pretty much the same as doing a western union transfer, which is how many other overseas scams operate.

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