Backing out of a deal

[Jewbacca]

49 minutes ago, Just Simba said:

 

 

SNIP

2021/09/10, 14:41 - Simba: A 75k express payment has been made. You should have it in 15 min or so
2021/09/10, 14:47 - Wade: Thanks
2021/09/11, 08:28 - Simba: Hi. Did you receive payment?
2021/09/11, 08:38 - Simba: The R75k I mean ????????
2021/09/11, 11:06 - Simba: Hey are you there? Need to know that the money went to the right account ????
2021/09/11, 12:52 - Wade: I got the notification but there are no funds reflecting yet
2021/09/11, 13:15 - Simba: Strange, I didn't send a notification, and I express cleared ????
2021/09/11, 13:16 - Simba: Please let me know when it clears so the balance can be paid.  

What does the notification look like that you recieved?
2021/09/11, 13:25 - Wade: <Media omitted>
2021/09/11, 13:29 - Simba: Cool. Chat Monday ( hopefully sooner).  Have a lekker weekend.
2021/09/11, 13:30 - Wade: Where are you based for bike delivery?
 

This part of the interaction might be why @FreeSoul said that.....

[karma]

54 minutes ago, Just Simba said:

2021/09/11, 12:52 - Wade: I got the notification but there are no funds reflecting yet

Maybe Wade should clear this up yes...

I'm thinking the truth lies in Wade's bank statement, nothing else. 

[Mamil]

Looks clear to me -

Buyer persuaded seller to part with good for a price less than he really wanted - seller accepted because he made a judgement call that he might need to wait a bit too long to get his desired price.

Soon after funds went through seller saw an opportunity to get more for one of the bikes and employed delaying tactics while new possibility matured.

Buyer got anxious and pushed a bit

Seller seized on that as an opportunity to renege one deal - a decision that got cemented when he realised seller was also a trader and didn't fancy passing on a free power meter to another trader.

Deal was reversed.

Both parties should just move on - noone lost money - I would have thought this kind of nonsense happens all the time when trading in commodities rather than buying a bike as a passion

[Hairy]

I do not see Wade as being at any risk here.

Simba noted that the bikes can go to a bike shop, and when all funds have cleared, the bike shop will release the bikes.

So why then back out on the deal over the weekend. Surely if you have a serious second buyer you go back to buyer no. 1 and state this, with a note that if the monies do not reflect you will sell to no. 2. And then let second buyer know they are in line if the deal does not go through for whatever reason.

The seller also had the contact no. for Simba, so he could just as well have called him to state the same.

[Vetplant]

Does the option exist that Standard Bank is a crap service provider in this case?

Maybe the back-end got the Immediate payment and sent the notification, but their systems prevented the system from showing the transaction as "completed" on the front-end?

Bank system developers might be able to advise how a payment notification can be received on an Immediate payment but it doesn't reflect on the bank account.

Methinks a third force is at play here and both the seller and buyer got a bad experience because of this.

PS. I'll be happy to apologize to Standard Bank if the scenario above cannot happen.

Apologies Standard Bank, no harm intended.

 

Edited September 16, 2021 by Vetplant
Standard Bank not at fault

[Just Simba]

3 minutes ago, Vetplant said:

Does the option exist that Standard Bank is a crap service provider in this case?

Maybe the back-end got the Immediate payment and sent the notification, but their systems prevented the system from showing the transaction as "completed" on the front-end?

Bank system developers might be able to advise how a payment notification can be received on an Immediate payment but it doesn't reflect on the bank account.

Methinks a third force is at play here and both the seller and buyer got a bad experience because of this.

PS. I'll be happy to apologize to Standard Bank if the scenario above cannot happen.

 

I thought that it was a possibility that the fault was with STD, thats why I called both banks to confirm

[TheoG]

1 minute ago, Vetplant said:

Does the option exist that Standard Bank is a crap service provider in this case?

Maybe the back-end got the Immediate payment and sent the notification, but their systems prevented the system from showing the transaction as "completed" on the front-end?

Bank system developers might be able to advise how a payment notification can be received on an Immediate payment but it doesn't reflect on the bank account.

Methinks a third force is at play here and both the seller and buyer got a bad experience because of this.

PS. I'll be happy to apologize to Standard Bank if the scenario above cannot happen.

 

When I make an "immediate payment" from ABSA for the first time to a specific account, ABSA let me know it will take about 2 hours to clear.  In this case we talking at least a day not hours.  The evidence would be on both of their bank statements, when it was sent and when it was received.

[Just Simba]

6 minutes ago, Mamil said:

Looks clear to me -

Buyer persuaded seller to part with good for a price less than he really wanted - seller accepted because he made a judgement call that he might need to wait a bit too long to get his desired price.

Soon after funds went through seller saw an opportunity to get more for one of the bikes and employed delaying tactics while new possibility matured.

Buyer got anxious and pushed a bit

Seller seized on that as an opportunity to renege one deal - a decision that got cemented when he realised seller was also a trader and didn't fancy passing on a free power meter to another trader.

Deal was reversed.

Both parties should just move on - noone lost money - I would have thought this kind of nonsense happens all the time when trading in commodities rather than buying a bike as a passion

You're right, moving on

How do I delete this thread?

[Rolf Hansen]

Just now, Just Simba said:

You're right, moving on

How do I delete this thread?

He-eh. This needs to remain for reference till the end of time. 

[TheoG]

1 minute ago, Just Simba said:

You're right, moving on

How do I delete this thread?

You don't, it stay on here for ever and ever .... ????

Edited September 16, 2021 by TheoG

[Just Simba]

[Just Simba]

Just now, TheoG said:

You don't, it stay on here for ever and ever .... ????

No ways?! Really?

[Rolf Hansen]

It it just me or was that Whatsapp conversation very nonchalant for R120k? 

[TheoG]

Just now, Just Simba said:

Now lets see if we can get a similar post from the seller ????

[Vetplant]

4 minutes ago, Just Simba said:

I thought that it was a possibility that the fault was with STD, thats why I called both banks to confirm

NOTED, I'll go edit my original post in respect for Std Bank

[Edereese]

3 minutes ago, Just Simba said:

This says it all...