I am selling a smartphone to the guy who lives in UK (or that is what he says.) For the money transfer he asks me these things.

  • Name
  • Bank Name
  • Account Number
  • Iban
  • Swift Code

Is it okay to give them to him?

By the way I live in the Latvia. He already knows my email which is connected to my bank account, and he may know my mobile phone number which is also connected.

  • 2
    He needs all this information to send you the money. Safer would be to for example create a PayPal and make a transfer there. – yo' Feb 10 '14 at 21:42
  • 3
    @tohecz I'll add: while PayPal may keep more of the seller's personal information private, it may be no "safer" in terms of guaranteeing payment to the seller. A buyer using PayPal can repudiate payment more easily. More buyer- than seller-friendly. – Chris W. Rea Feb 10 '14 at 21:57
  • @ChrisW.Rea Somehow that was why I decided only to comment and not to answer, because I know that there might be "buts", but I'm not an expert enough to evaluate these. – yo' Feb 10 '14 at 23:10

All the items listed are required for International Wire transfer. In wrong hands this info along with other info can cause issues.

Most of the times you trust the person with this info and hence is less cause to worry. So the key is if you don't trust, don't give the details. Use alternatives like;

Best open an account for receiving funds. Share the details, once the funds are received move it to an account where the details have not been shared.

Alternatively paypal or other such services can help.

  • Could you expand on the issues? – cbeleites unhappy with SX Feb 13 '14 at 22:36
  • @cbeleites: I have kept it vague as issues. It increases the chances of Fraud – Dheer Feb 14 '14 at 5:14

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