Bank Transfer Limit
Discussion
I'm looking at selling a car privately valued in the region of £15k - £20k. I'm Manchester based and the buyer is travelling from down South to hopefully do the deal.
The seller mentioned taking cash up but I'm worried about money laundering regs. As and when I go to buy a replacement vehicle I presume questions will be asked by the garage if I turn up with cash.
I suggested that an online bank transfer would be ok. The seller is with Lloyds and I'm with NatWest. I presume this would be instantaneous. Would there be any secondary security checks given the amount?
The seller mentioned taking cash up but I'm worried about money laundering regs. As and when I go to buy a replacement vehicle I presume questions will be asked by the garage if I turn up with cash.
I suggested that an online bank transfer would be ok. The seller is with Lloyds and I'm with NatWest. I presume this would be instantaneous. Would there be any secondary security checks given the amount?
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