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Payments

Types of Payments Accepted

We accept Bacs, Credit cards, Cheques and Cash payable in our store.

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Bank Transfer in the UK (BACS)

Also known as:

BACS payment
Bank Account Clearing System Payment
Wire Transfer
Direct Bank Transfer
BT
IBAN payment
(Bank Deposit) – see note on bank deposits below

What is BACS?

More and more people are using the electronic payment method direct to or from your trading partner’s bank account. The payment is funded by cleared funds in a bank account (in other words a bank-to-bank transfer/payment).

You can also pay cash or cheque over the counter at your own bank.

You can also pay cash or cheque or at any branch of the seller’s bank (this may attract a fee – so check first). This is called a bank deposit.

Is it Safe?

Yes - the process of making a bank transfer is safe and secure. BUT there is no Buyer Protection  for this method of payment, the advantage is that you do not give any of your Bank or Credit Card details and  therefore are not open to any sort of Credit card fraud.

As a buyer, you will be relying on the seller to be reputable and it is always a good Idea to see if the seller is listed on the google maps/yell.com/scoot.com/freeindex etc and to check that it is a legitimate company.  Vat registered, company registration number and working telephone number(s) are all good indications to the legitimancy of the company. Check any company feedback from other customers.

When you give someone your bank account number and sort code, there are only two things that someone can do with them:

  • a. Make a payment to your account. They cannot access your account directly to remove funds unless you also give them your internet banking password, security details etc – and why would you want to do that?
  • b. Set up a Direct Debit. You are protected by the Direct Debit Guarantee against unauthorised Direct Debits. In the very unlikely event of this happening, inform your bank and they will return the funds and recover them from the fraudulent party. They will also pass on the fraudster’s receiving bank details to the relevant Law Enforcement Agency.

When programs like the News and Watchdog refer to ‘Bank Details’ they are not referring to the account number and sort code, but ALL the details necessary to access funds in your account. They have a propensity to scaremonger.

What do I Need?

As a seller we will, if requested make our Name (KAINE & RAWSON LIMITED), Bank Account Number and Sort Code available to you the buyer so that you can pay for your order directly without any 3rd party involvement. (Visa,Mastercard,solo,etc)

As a domestic buyer – your seller’s full Account Name, Account Number and Sort Code

Access to telephone or internet banking.

How Long Does it Take?

Domestic transfer
– between accounts of the same bank: instantaneous, or near instantaneous.
- between accounts who's both banks are members of the Faster Payments Service (FPS): hours
– between accounts of different banks who's banks are not both members of the FPS: up to 3 working days.

International transfer
- Variable: check with your bank for incoming payments, but likely 3-5 working days.

More information on FPS here:

http://www.ukpayments.org.uk/faster_payments_service/
http://www.ukpayments.org.uk/faster_payments_service/background/

Banks currently receiving Faster Payments include: Alliance & Leicester, Barclays Bank, Citi, Clydesdale and Yorkshire Banks, Co-operative, HBOS, HSBC, LloydsTSB, Nationwide, Northern Bank, Northern Rock, RBOS Group (incl Natwest and Ulster Bank).

Check to see if a bank account can send/accept a FPS payment here:

http://www.ukpayments.org.uk/sort code checker/


How Much Does it Cost?

The below statements apply to a Personal bank account. There may be fees involved with bank transfers to/from a Business bank account – check with your Business Manager.

UK domestic transfers – FREE for both buyer and seller

Receipt of Euro Zone to UK international transfer – A few pennies on the exchange spread of currency conversion from €Euro to £GBP, as long as buyer selects ‘shared charges’ (default option) and pays in €Euros.

Sending a Euro Zone to UK international transfer – Probably free, but check with your Bank, as long as buyer selects ‘shared charges’ (default option) and pays in €Euros.

Receipt of Non-Euro Zone International transfer – Variable. Check with your bank. Ask for the International Transactions Department.

Payment of non-£GBP international transfer – Variable. Check with your bank. It is likely it will cost at least £10-£20+ through the bank’s RELAY or SWIFT payment system. It may be possible to make an IBAN payment at a lesser cost – ask your bank.

Due to EU regulation, EU and EEA countries are not allowed to charge more for a cross-border payment made in €Euros with ‘shared charges’ selected than they are for a domestic transfer.

UK banks are allowed to charge conversion fees from €Euro to £GBP

Some UK banks will attempt to charge you ~£1 for a ‘letter of advice’ on receipt of a cross-border payment (Natwest and RBOS at least). If that happens, tell your bank you do not want a letter of advice, otherwise you will close your account and move it to another bank.

 

Bank charges.

If an order is placed on our web store and you use a payment method that in cur's a banking charge we only accept responsibility if we have had to cancel your order due to unforeseen circumstances. If we are responsible for cancelling your order and we have taken payment we will refund you the full amount of the order including Bank,Credit or Debit cards carges and please accept our apologies for any inconvenience caused.

However if an order is cancelled by the customer after 72hours and the payment method used in cured a transaction charge then we can only refund the amount paid  minus the transaction charge by your Bank,Credit or Debit cards.

If you are eligible for a refund, we will refund you back to the payment method you used when you originally paid for your order.

Please note: It is your responsibility to notify us of any changes to your card details i.e. you no longer have that account. Refunds can take up to 10 days to process.

Please contact the store if you are unsure about anything and a member of staff will be able to clarify any questions you may have.