How trustworthy is an EFT and GEO Payment?

[EyeGod]

Hey folks,

Thought this would be a good place to ask:

I'm selling a goods to someone in another city who wishes to pay via EFT.

I'm under the impression that EFT is safe as long as you see the funds clear in your account; after that the funds can't be reversed without your bank obtaining permission from you at the request of the payer who wishes to reverse; is that correct, or is there another catch I'm not aware of?

FYI, the payer in this instance can pay via Nedbank or FNB CC, and has suggested that they'll do the latter, since I'm with FNB. (Aside from a lengthy string of WhatsApps and a phone call, he seems like a legit good guy, so I feel like it'll be a smooth transaction nonetheless; this is more like a bit of homework for posterity.)

On a similar note, how trust worth are GEO Payments?

Thanks!

 

[vylint]

Geo payments are basically like instant EFT from FNB to FNB accounts, it works well and benefit is no need to share banking info.
[emoji846]

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[EyeGod]

Geo payments are basically like instant EFT from FNB to FNB accounts, it works well and benefit is no need to share banking info.
[emoji846]

Sent from my SM-G960F using Tapatalk

Rad, thanks, man.

The buyer just payed, FNB to FNB; the funds have already reflected in my account; does that mean it's safe and secure?

 

[AinsleyHarriott]

It's less about how trustworthy the payment method is and more about how trustworthy the person is.

 

[EyeGod]

It's less about how trustworthy the payment method is and more about how trustworthy the person is.

Ha, well, per my previous reply, the buyer just payed, FNB to FNB; the funds have already reflected in my account.

I assume that means it's safe and secure?

 

[vylint]

If the funds have cleared, then for me it's sorted. I'll gladly ship out the sold item(s) now.

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[EyeGod]

If the funds have cleared, then for me it's sorted. I'll gladly ship out the sold item(s) now.

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Awesome. Thanks for the advice, pal!