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Author Selling a car - Direct bank transfer
c20let
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Registered: 25th Jun 05
Location: Aberdeenshire Drives: VXR Astravan,Evo 9GT,mr2 tbo
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26th Jul 11 at 19:00   View User's Profile U2U Member Reply With Quote
I have someone wanting to come up to view my evo this weekend. He said all going well he'd pay by direct bank transfer there and then.

What's the crack with direct bank transfers? Are they instant? I'll go down to the bank tomorrow for details etc but wanted to know if anyone knows what this payment involves?

Cheers.
Ian
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Registered: 28th Aug 99
Location: Liverpool
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26th Jul 11 at 19:02   View Garage View User's Profile U2U Member Reply With Quote
Depends on the banks.

If you can get to a branch you're far better taking the cash out and putting it back in.
richc
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Registered: 24th Mar 07
Location: Ilkeston
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26th Jul 11 at 19:03   View User's Profile U2U Member Reply With Quote
I did it on my last car (all be it £2000). I used the guy's computer and just logged into my bank account.

You just need name, bank account number and sort code. Set up a payee (the guy), then send him the money.

Leaves your account instantly. It shows up instantly too (aparantly i have never had it other way round).
Fro
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Registered: 20th Jun 06
Location: Rainham, Essex Drives: A3 2.0TDi Sport
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26th Jul 11 at 19:03   View User's Profile U2U Member Reply With Quote
The ones i've done/received lately have been, but best to check first.
Welsh Dan
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Registered: 23rd Mar 00
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26th Jul 11 at 19:27   View User's Profile U2U Member Reply With Quote
I did it once, but my bank put the transaction on hold. Matey thought he had the cash, but my bank had thought it was suspicious and I had to re transfer it.

Get cash.
NovaGTE2
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Registered: 26th Sep 06
Location: Peasedown St John, Bristol Avon
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26th Jul 11 at 19:29   View User's Profile U2U Member Reply With Quote
I have done it a few times but one thing i have come up against a few times is a £10K limit per day!
Generation
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Registered: 7th Jul 09
Location: Essex
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26th Jul 11 at 20:05   View User's Profile U2U Member Reply With Quote
Depends on the banks as said, most are part of the "faster payment scheme" which means will be credited within 2 hours, however 99% of the time this is instant.
_Allan_
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Registered: 24th Mar 04
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26th Jul 11 at 20:33   View User's Profile U2U Member Reply With Quote
Get it done via CHAPS. Should be same day transfer and will cost about £30.


PS, pics or link to ad. I want to see it again

[Edited on 26-07-2011 by _Allan_]
Generation
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Registered: 7th Jul 09
Location: Essex
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26th Jul 11 at 21:12   View User's Profile U2U Member Reply With Quote
You do realise chaps is the old ersion of transferring money, it's now just for big amounts of mOney and you have to pay for it

[Edited on 26-07-2011 by Generation]
c20let
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Registered: 25th Jun 05
Location: Aberdeenshire Drives: VXR Astravan,Evo 9GT,mr2 tbo
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26th Jul 11 at 21:20   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by _Allan_
Get it done via CHAPS. Should be same day transfer and will cost about £30.


PS, pics or link to ad. I want to see it again

[Edited on 26-07-2011 by _Allan_]


http://www.lancerregister.com/showthread.php?t=380886


I used a CHAPS transfer to buy the evo, took about 3hours to clear iirc.
c20let
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Registered: 25th Jun 05
Location: Aberdeenshire Drives: VXR Astravan,Evo 9GT,mr2 tbo
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26th Jul 11 at 21:21   View User's Profile U2U Member Reply With Quote
All going well I have someone flying up from Bristol to view the car on Saturday.
_Allan_
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Registered: 24th Mar 04
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26th Jul 11 at 23:44   View User's Profile U2U Member Reply With Quote
i want it

Good luck with the sale. One of my fav Evo's ever.
philip2
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Registered: 1st Oct 06
Location: n.wales/chester
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27th Jul 11 at 03:17   View User's Profile U2U Member Reply With Quote
Wil have a luk on mlr 2mz at that cant see pics on mobile, but v.nice spec, iv just got a jmf/rs ex mani on my 6, but depending on what hapens at xmas il be going with ross sports 700+ 2.3 spec motor and build myself.

Good luck with sale btw matey
Steve
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Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
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27th Jul 11 at 07:43   View Garage View User's Profile U2U Member Reply With Quote
i thought transfers were still dangerous and could reverse a while after supposedly clearing
_Allan_
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Registered: 24th Mar 04
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27th Jul 11 at 09:40   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Steve
i thought transfers were still dangerous and could reverse a while after supposedly clearing


I don't think a CHAPS transfer can be reveresed where as you possibly could with a standard transfer.
philip2
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Registered: 1st Oct 06
Location: n.wales/chester
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27th Jul 11 at 13:57   View User's Profile U2U Member Reply With Quote
Iv always been told that once a transfr been made it cant be reversed
Generation
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Registered: 7th Jul 09
Location: Essex
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27th Jul 11 at 14:07   View User's Profile U2U Member Reply With Quote
Transfer can be placed on hold/funds held if problem artists same day
Gareth
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Registered: 2nd Mar 00
Location: Derby, Drives: EVO VIII MR & pug 308
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27th Jul 11 at 16:27   View User's Profile U2U Member Reply With Quote
Not worth the risk with 22k i would want cash only
c20let
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Registered: 25th Jun 05
Location: Aberdeenshire Drives: VXR Astravan,Evo 9GT,mr2 tbo
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27th Jul 11 at 16:37   View User's Profile U2U Member Reply With Quote
Right went to the bank today, they said there was 3 options.
1- CHAPS transfer
2- Bankers cheque
3- Cash

Only problem is, the bank's not open on saturday I thought it would be open saturday morning.
Going to see if we can arrange it for friday or next week sometime.
_Allan_
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Registered: 24th Mar 04
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27th Jul 11 at 16:42   View User's Profile U2U Member Reply With Quote
Bankers cheque aint an option m8. Have you ever seen a real one, or would know what a fake one would look like?. A guy was ripped off for his M3 I think with a fake bankers cheque that was even accepted by his bank before being found out to be fake. The money was then taken off him. He can do a CHAPS transfer with his Bank and if you have online/telephone banking you can then check your account.

[Edited on 27-07-2011 by _Allan_]
c20let
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Registered: 25th Jun 05
Location: Aberdeenshire Drives: VXR Astravan,Evo 9GT,mr2 tbo
User status: Offline
27th Jul 11 at 17:00   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by _Allan_
Bankers cheque aint an option m8. Have you ever seen a real one, or would know what a fake one would look like?. A guy was ripped off for his M3 I think with a fake bankers cheque that was even accepted by his bank before being found out to be fake. The money was then taken off him. He can do a CHAPS transfer with his Bank and if you have online/telephone banking you can then check your account.


My bank said he gets the bankers cheque at his bank. And then I take the cheque to my bank(before car is released), and it can't be cancelled by the buyer.
_Allan_
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Registered: 24th Mar 04
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27th Jul 11 at 17:50   View User's Profile U2U Member Reply With Quote
I understand that but him saying he got a cheque from his bank is not gonna make a difference one way or the other, you aint with him. He could be bring a photoshopped bit of paper for all you know. Don't rely on your bank teller knowing what cheque looks like from all banks, because chances are they'll just process it.

As in the other story the cheque was only found to be fraudulant long after it was sitting in the guys bank account. He had already released the car thinking the money was sitting in his account.
I'll try and find the story for you.

http://pistonheads.com/gassing/topic.asp?t=274885&f=72&h=0

Some further advice in the thread. Just making sure you don't get ripped off m8.
I'd hate to read a similar thread on here.


[Edited on 27-07-2011 by _Allan_]
Generation
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Registered: 7th Jul 09
Location: Essex
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27th Jul 11 at 18:06   View User's Profile U2U Member Reply With Quote
I work at Hsbc, I have seen quite a few fake bankers draft, I wouldn't be risking it tbh.
Generation
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Registered: 7th Jul 09
Location: Essex
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27th Jul 11 at 18:08   View User's Profile U2U Member Reply With Quote
With regards to it clearing. So many people assume after the funds are available try can take money. "the clearing cycle" is double that time
In most cases
sand-eel
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Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
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27th Jul 11 at 18:11   View User's Profile U2U Member Reply With Quote
Really don't see whats wrong with a bank transfer, both banks know both people, so if the guy does a runner his bank will know who he is...

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