Hi all
I was selling something on Gumtree, and the buyer came to view then offered payment.
They didnt have enough cash so they offered to pay by osko.
Now I have never heard of osko before, so I told them to come back with cash (I am a professional on ozbargain)
The amount was $140
They eventually returned the following day with cash.
My question is osko safe to accept?
There's no possiblity of chargeback right?
There is still the possibility of a chargeback, like any other transfer. Hence the preference for cash.
Getting an Osko payment reversed is super difficult and almost never happens.
Its as good as cash imho
Receiver has to agree with chargeback
Probably okay if money is in your bank account but as demonstrated on here, screenshots of the transfer from the buyer are not okay.
PayID is perfectly safe.
Only if the money shows in your account. CBA may put the money on hold for 24 hrs. Do not trust any picture that shows transfer record.
So it may take a while and not instantaneous?
I think it depends on the amount and if it's someone you've transferred to/from in the past. eg I received $80 from someone I hadn't done a transfer with last night and it took an hour to show in my account. If I do a transfer to a friend who I've transferred to before it's instant.
OSKO payments are pretty quick, usually within minutes when we've done it.
depends on the Bank
ING and CBA from my experience hold the money for 24 horus when its the first time you send money to someone .
Other banks i have used (CUA, Suncorp and NAB) all credited other bank instantly.
@jimbobaus: CBA if over $100 first time. It is frustrating. You can do 5 $99 transactions etc. but the second you do it over 100, even in future transfers, its 24 hour hold
NAB also holds payments on first time transfers over a certain limit. I suspect most banks do. Defeats the purpose of these fast payments really.
I once made a gumtree buyer come back with cash (as per advert description). He offered that I come for a drive with him to the bank in his car.
weird. what difference would it make timewise?
I saw a movie with a similar story line. It didn't end well.
So you went? Anything happened in the car?
I was kidnapped. This is the first opportunity I have had to raise the alarm. Please send help.
Also, the item is still for sale if you are interested..
Would you take 50% of the advertised price?
@elgrande: Well played sir, well played. Let me know when you have escaped your captors, and I will come around to your house to collect the item approximately 3 hours after we agreed. I'll bring $30 less than what we agreed on as well. I hope this suits.
He offered that I come for a drive with him to the bank in his car.
Did you accept their offer?
I once made a gumtree buyer come back with cash (as per advert description)
I did this, and I live in a small country town with no bank or atm 😆
Yes I believe they are safe.
Osko is instant internet banking, regardless whether the banks are not the same. Thus funds will appear on the receiver's bank account within a minute (seconds?).
From experience, it's instant only after first transfer.
Correct. I did a transfer from CBA to Citi with same name on Friday afternoon. The fund appeared on my citi account on Tuesday. But next month, when I did it again, the transfer was immediate.
Depends on the Bank.
The holding of funds seems to be a a CBA thing. (ING only does it if its over $200 and even then its not always the case, had a $350 1st transfer held, then a $985 1st transfer was instant)
I've had the opposite. Transferred a deposit instantly with no problem. Went to transfer the full amount the next day and the bank silently blocked it. Bank only called me about an hour later, by which time I'd had to find another way to pay.
Cash only
I bought a couch of facebook market place, paid a few hundred via Osko, went through on the spot.
I wouldn't accept anything other then Cash if i was selling but i let them know beforehand that i'd transfer and they were fine with it.
Osko is fine but just not always instant especially after hours on weekends or with CBA accounts.
Because of the "not always" just easier to do cash
I swear some of these buyers are just lazy or enjoy being annoying with their bank transfer rubbish.
I've had several payments to my paid from gumtree buyers. Its always been instant.
Like with any bank transfer, when the money shows up in your bank account, you should be safe. Don’t give the buyer any benefit of doubt. (Eg just a delay, it should arrive soon).
Don’t be like the other OP to accept the buyer’s screen shot…
Your either have the buyer’s money (cash or seen in your bank account) or you don’t. No excuses.