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Thank you for clearing this up. I offer bank transfers because even though I would prefer every item I sell to be cash on collection, out-of-Londoners seem to feel excluded.
My process is simple. I send my phone number and email address and post the item '2nd class signed for' within 24 hours of payment, and I send a picture of the postage receipt. Not ideal, but it's worked swimmingly so far.
Edit: ^Oh, every item for which I've used a bank transfer has been under £250... It seems I've managed to add myself to the bad traders list.
¡apesta!
Velocio
There is no rule against bank transfers.
However this is really only because:
But I'd still strongly recommend no-one use this method of paying, and if you do then you should determine some protocol for it... i.e. seller bears the risk by giving the goods before receiving payment. Something like that which mitigates the extreme risk to the buyer.
If a buyer is asking for bank transfer in advance, you don't know the person in-person... walk away. It's likely dodge as hell, and the risk is huge. You are literally gifting money in a non-returnable, non-disputable way.
If bank transfers are used, the buyer should get the goods first, the seller should bear the risk.