Help with UBS payment

[Former_Member]

Hi everyone,
A buyer from Switzerland want to pay me with UBS , how does it work exactly? Does anyone here know what and how I can except the payment?
Also, why would someone prefer to do this kind of payment and not simply pay with credit card? just wondering tho. TIA for your help.

[Former_Member]

Hi Matana, UBS is Switzerland's biggest bank (as well on a global level) is 100% trustworthy (I'm based in Switzerland :). Swiss people are used to transfer money directly from their bank account rather than using credit cards, as they feel it's more secure. Your customer will certainly want to have your IBAN number (every person in the world who has an account in a bank has one), that will allow him/her to transfer directly the money to you.

Hope this helps!

[KiltedWoman]

I would not accept something I was not familiar with. There could be fees associated with it. Paypal and direct debit give you some seller protection. There are many scams out there, not saying this person is one, but I am not comfortable with anything outside of the usual payments irregardless of the country.

[Former_Member]

Thanks for your help, Lori and Monica.

[LeedsRadio]

Matana -

As far as I know IBAN has NOT been adopted in the United States (and many other countries). So not "every person in the world who has an account in a bank has one."

The closest you could get is a wire. You would need the bank's swift code (easy to get) and your account number. The problem is that wire transfers have fees on both ends.

And I, and most Americans don't hold Swiss Banks with the high esteem of the Swiss do. Swiss banks kept billions in Nazi gold during WWII - some of it from Holocaust victims and survivors.

UBS has been accused of illegal shredding of wartime records in an attempt to hold on to some of the gold. All this is well reported. It's not any kind of conspiracy theory.