Safety Guide


Buying or selling second hand can be an absolute dream. You might be able to finally buy that perfect item at a fraction of the cost, or maybe even just free up some cash selling a few bits, to spend on more shiny things.

However there is an element of risk when transacting with members of the public and people you don’t know. We therefore urge our members to always stay vigilant, use common sense and bear in mind some good practises and guides when buying or selling on The Bike Marketplace.

(The below is purely for reference only and does not qualify as financial or legal advice).

 

The Bike Marketplace does NOT handle payments

The Bike Marketplace do not handle any payments of any kind for transactions on the site and therefore cannot guarantee any payments made. If you receive a message asking you to make a payment via The Bike Marketplace or claiming that The Bike Marketplace will protect your payment, it will be fake. Please report it to us immediately by emailing hello@thebikemarketplace.co.uk or using our contact form (www.thebikemarketplace.co.uk/contact).

 

Tips for SELLERS

The main thing for sellers to remember is NEVER part with your item until you’re absolutely certain the payment has successfully cleared and you have immediate access to the money. Payments can be reversed or withdrawn by banks and other payment providers in certain situations, especially when involving overseas payments.

  • The safest and easiest way to transact with someone else is often to physically meet in person (bearing in mind Covid-19 restrictions) so that you can see the items and exchange payment there and then. When meeting in person, try and bring someone else with you, meet in a public place if possible and also avoid carrying large amounts of cash.

 

  • When receiving payment in person, cash can be the preferred option, however make sure you check the notes for abnormalities and counterfeits. More information can be found here: https://www.bankofengland.co.uk/banknotes/counterfeit-banknotes/how-to-check-your-banknotes. If the buyer wants to make payment online, you can use Paypal to ensure seller protection, but you must physically record the transaction and provide a written receipt, signed by both parties. Make sure you also witness the buyer make the transaction via their account. Receiving money via bank transfer can incur delays, so it’s worth speaking with your bank in advance, making absolutely sure that the money has been safely deposited into your account before letting your item go.

 

  • For receiving any online payments, we recommend using Paypal as it offers a level of seller protection (find out more and how to qualify here: https://www.paypal.com/uk/webapps/mpp/paypal-safety-and-security). Paypal do charge a fee for receiving money, however it can be worth it to avoid losses over disputes. More information on Paypal fees can be found here: https://www.paypal.com/uk/webapps/mpp/paypal-fees. Do NOT rely on an email confirmation that you have received the funds, as this can easily be faked. You should ALWAYS log directly into your bank account (do not use any links in emails) and check the money has arrived.

 

 

Tips for BUYERS

The main thing for buyers to remember is to ALWAYS read listing descriptions thoroughly and contact the seller about any queries or questions you may have in advance to viewing or paying for an item, so that there can be no doubt you know exactly what you are buying.

 

  • The safest and easiest way to transact with someone else is often to physically meet in person (bearing in mind Covid-19 restrictions) so that you can see the items and exchange payment there and then. When meeting in person, try and bring someone else with you, meet in a public place if possible and also avoid carrying large amounts of cash.

 

  • When making any online payments, we recommend using Paypal as it offers a level of buyer protection (find out more and how to qualify here: https://www.paypal.com/uk/webapps/mpp/paypal-safety-and-security). It’s free to transfer money via Paypal to a seller. Do NOT use PayPal ‘Friends and Family’ to pay for your item, unless you explicitly know and trust the individual you are dealing with. Paypal Friends and Family payments are also free for the seller and can often be a preferred way of avoiding such fees, however they do NOT offer any buyer or seller protection. Fraudsters will often try creating an illusion of trust to make buyers agree to use Paypal Friends and Family, which is something to be wary of and avoid if you can.

 

  • If you are making an online payment outside of Paypal, such as internet banking or BACS payments, prior to receiving the items, please bear in mind that you risk losing that money if the item never arrives or is not as described. This is why physically meeting in person or using Paypal (making sure you qualify for buyer protection) are always preferred methods.

 

  • If you experience an issue with a seller where an item hasn’t arrived, they have stopped responding to messages or you suspect might be fraudulent, please report them immediately to The Bike Marketplace, either by emailing hello@thebikemarketplace.co.uk or using our contact form (www.thebikemarketplace.co.uk/contact). We do not handle any payments of any kind for transactions on the site and therefore cannot guarantee any payments made, however we can take actions to contact individual members ourselves and / or remove them from the platform.

 

Red Flags

We manually approve all listings that appear on The Bike Marketplace and will often carry out further verification of items and their origin. However, we are not liable or responsible for individual members or their listings on the site, so please always bear the following in mind:

 

  • If a seller refuses to let you see an item in person without good reason, this can be a red flag. You can always ask for your own proof of the items existing by requesting custom photographs of the items.

 

  • If it seems too good to be true, it more than likely is. You can grab some bargains buying second hand, however if the price is lower than expect, please approach the transaction with caution and take all necessary precautionary steps when transacting, to ensure you’re protected.

 

  • If a buyer offers too much money and then asks to refund the difference to their business partner or friend, you should stop the transaction.

 

  • If the seller is asking for payment by postal order, Western Union, MoneyGram, Ukash or other untraceable methods, you should also stop the transaction.

 

  • If the seller refuses to provide a physical address and only provides a mobile phone number and / or email address, requesting you to meet at a location that is not their home, this can be a sign that they are attempting to conceal their identity.

 

  • If a buyer wants to buy your item without asking any questions or having any apparent interest in cycling. They may be looking to find a way to scam you.

 

If you have any questions or concerns, please contact us by emailing hello@thebikemarketplace.co.uk or using our contact form (www.thebikemarketplace.co.uk/contact).

Stay safe. Stay vigilant. Enjoy.