SELLING SCAMS: Overpayment

If you sell an item and receive a payment for it via a bank transfer or Paypal and the amount is higher than the agreed price, then be very wary.

The buyer will then apologise and ask you to refund the difference, often suggesting you keep some of the surplus funds for your trouble. However, the refund will be made before the funds for the first payment have cleared – bank payments require three working days to clear and Paypal funds are only available to use after 21 days. If the initial payment was made with a stolen credit or debit card or bank details, then all of the money you received will have to be returned, but you won’t get your refund back.