MK5 Golf GTI
General => Random Chat => Topic started by: Steve Baker on November 08, 2011, 05:54:23 pm
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In the process of selling the Gti and unsure of the safest way to receive payment. Thought this might be a good place to start? I thought a CHAPS transfer was best but according to my building society that doesn't take place at a specific time within an 8 hour working day. Not on Saturday either. Apparently Building society cheque is not reliable now either. I don't like the thought of in excess of £10K in cash either , dodgey notes etc....
Anybody with first hand experience ??? Comments greatfully received :smiley:
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honestly i'd go CHAPS and when cleared let them have the keys, if they are genuine then they will understand, anything involving drafts I'd also wait for them to clear as heard similar stories
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I paid cash for my car, straight from the bank still sealed in packs of 5K, either that or chaps or if he banks at same banking company, walk into branch and watch him make transfer and then get cashier to confirm receipt to your account.
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I paid cash for my car, straight from the bank still sealed in packs of 5K, either that or chaps or if he banks at same banking company, walk into branch and watch him make transfer and then get cashier to confirm receipt to your account.
Thanks, like the sound of last suggestion :happy2:
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Yup direct bank transfer is the way to go! :happy2:
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I've only took a really significant amount of cash once, I got the guy to meet me in my bank, got the cashier to count it in and then gave him the keys. They even made us a brew.
Any decent person will understand why you're asking for a bit of security, I'd be worried if they didn't.
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They even made us a brew.
Sweet! :happy2:
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I took 17k cash :signLOL:
Kind of stupid when I look back but it was 7PM and no banks were open and I needed to sell the car.
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I took 17k cash :signLOL:
Kind of stupid when I look back but it was 7PM and no banks were open and I needed to sell the car.
:scared: :scared: :scared:
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I meandered over to Belfast with 14k in my backpack..Bought the car from a serving well established member of this forum so had no worries.
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I meandered over to Belfast with 14k in my backpack..Bought the car from a serving well established member of this forum so had no worries.
If it is cash whats the safest denomination to have to avoid monopoly money?
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I meandered over to Belfast with 14k in my backpack..Bought the car from a serving well established member of this forum so had no worries.
If it is cash whats the safest denomination to have to avoid monopoly money?
Take it to the bank with the seller, honestly it's the safest way.
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I've only took a really significant amount of cash once, I got the guy to meet me in my bank, got the cashier to count it in and then gave him the keys. They even made us a brew.
Any decent person will understand why you're asking for a bit of security, I'd be worried if they didn't.
I've done this too and was fine. Also had a feeling of grand theft auto about walking out the bank and getting into a new random car and driving off!
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I meandered over to Belfast with 14k in my backpack..Bought the car from a serving well established member of this forum so had no worries.
If it is cash whats the safest denomination to have to avoid monopoly money?
I wouldn't like 50s.
The main thing with notes is to feel them, the Bank of England fancy writing is embossed and that's the hardest bit to fake. If it doesn't feel right, then you start to look at the note more closely.
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I took part cash from my Buyer, and a bank draft from the person my buyer sold his car to - so payment from 2 different people!!
I wouldn't have done this normally, but buyer came with a photocopy of his passport and Police ID card - I also met both guys I accepted payment from - furthermore, both were established members of this forum :wink:
If you take a bankers draft, take the buyer to the bank with you and pay it in and let the bank clear it - bankers drafts clear straight away, like a transfer, so by paying it in successfully you should be OK. Either that or get him to do a CHAPs transfer while you watch.
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The last two bankers drafts I have received have taken 3 days to clear!!!
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I was going to say this, thats why they have chaps now, same price as a draft too. :happy2:
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Drafts are guaranteed funds but not cleared
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I get the buyer to meet me at my branch with the cash,That way the bank can confirm there not fake notes, and its guaranteed cleared funds.
Then i give the log book and keys over inside the bank,this way its all on cctv as well
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When I bought mine off a member here, he picked me up from the bank as I had arranged with them to collect the money from that branch.
He then counted it out again and the car was mine.
I was bricking it though and I think if I was to do that again I would meet him IN the bank like somebody else said.
I was ringing the wife and telling her where I was at every step.
You get a feel for these things though and if any doubt of not being comfortable back out.
Also don't accept cash after the banks close as they will know the cash is in the house. Then make it clear your going to the bank to put it in.
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Cash!! Or bankers draft.
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what about online bank transfers?
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what about online bank transfers?
Yes... That's another fail safe option! :-)
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what about online bank transfers?
Yes I thought about that but if it's from a different bank will it be immediate??? is it reversible?
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Also don't accept cash after the banks close as they will know the cash is in the house. Then make it clear your going to the bank to put it in.
Unless you have huge angry dogs who dont like being woken up you can always use the cash drop box at local bank if you have arranged prior access, if not if you know a friend with a safe to hold it overnight you will be ok, that way you can sleep at night :innocent:
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if it's cash, then another vote for getting the buyer to pay directly at the counter. You dont physically touch the money.
I did this when i sold the 4mo, it was a bit of a chavy type of guy. Paid into my a/c at the counter, he handed over the money - the lady counted it and it was £20 short. He swore blind that he counted it 3 times the night before... :rolleye:
also, if there any decent forgeries in the bundle, the bank can reject it with the guy there rather than you trying deposit the cash later, getting any fakes rejected and then having to contact the buyer again....
Rich
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what about online bank transfers?
Yes I thought about that but if it's from a different bank will it be immediate??? is it reversible?
I mentioned this earlier in the thread...........
Usually clear within two hours sometimes faster. Not reversible afaik.
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Greeners is right. No need for drafts , etc anymore. Whenever I've bought or sold I've done a "faster payment" which will show on your account (or theirs) as an FPI (faster payment incoming). Its ususally done within the hour whenever I've done it and it doesn't matter if you bank with different banks either.
Chris.
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I say go for cash and ask for it in £2 coins. :laugh:
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I say go for cash and ask for it in £2 coins. :laugh:
not safe enough. go for 10p pieces
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Greeners is right. No need for drafts , etc anymore. Whenever I've bought or sold I've done a "faster payment" which will show on your account (or theirs) as an FPI (faster payment incoming). Its ususally done within the hour whenever I've done it and it doesn't matter if you bank with different banks either.
Chris.
There are limits on the faster payment system. You would need to check with both banks to ensure the payment will be sent via the faster payment system. But i'm pretty sure you should be able to get past this by making 2 or 3 smaller payments.
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I think h4rdy is sayin it needs to be clear that the cash won't be at home overnight to prevent scumbags trying to come back for it