Saturday Bank Transfer

[T5SOR]

I'm looking to buy a car privately in a couple of weeks time and will be picking it up and paying on a Saturday. Has anyone done a bank transfer on a Saturday for >£20K and it appeared in the recipients account straight away? My concern is that I go there, transfer the money and it doesn't appear in the seller's account until the next working day! This would be a big problem as the car is in Scotland and I am flying there to pick it up.

Spoke to my bank and they said it "should be fine", although this doesn't completely fill me with confidence......

[T5SOR]

I have the recipient setup with my bank as I sent the deposit this way.

I am thinking the best option is to do the transaction on the phone with my bank and not via the internet/app.

[T5SOR]

I will pop back into the bank later and speak to someone else. If I can't do it the same day I will have trouble getting back home with a one way ticket.

[T5SOR]

desolate said:

Pay on Friday?

If you do a faster payment online it will tell you when it will be credited. However is there really any additional risk in sending the money the day before?

Although the seller is a PH'er, I have never seen the car, never met him before and he may actually be based in Nigeria.

I went into my bank and they said I could transfer up to £25K online and it will go through within 2 hours.

[T5SOR]

Worst case I will have to sleep in the car on his drive until the Monday.

I am with Halifax and he is with Lloyds.

[T5SOR]

steve2 said:

If he will let you sleep in the car with the keys !!
Is there not a premier inn nearby ?

It's ok, I'll promise not to drive off in it when he is not looking

[T5SOR]

Thanks for your advice everyone.

As it will be a Saturday I am limited to what I can do. I am limited further by the fact I need to fly to the seller and it will be around 11/12 by the time the deal is done. I am going to do an online bank transfer and have been assured by two different Halifax branches that anything below £25K will go through within 2 hours (not that this makes it a guarantee, but the best I can get).

I tried a transaction between the wife and myself on Saturday (<5K) and went through in a matter of minutes. I am hoping it will be fine, but there isn't much else I can realistically do?

I will let you know how it goes.

If the seller wasn't a PH'er and unknown on here I would be more worried, but I am sure we can sort something out (worst case).


Mike

Edited by T5SOR on Sunday 22 November 17:09

[T5SOR]

Update - All went through fine. Took minutes