Fraudulent bankers draft update!!!
Discussion
For those of you who can remember the original post, here's an update. For everyone else, cutting a long story short, sold my 53 plate M3 for £25,000. Took the Royal Bank of Scotland draft to my local RBS branch and asked them to verify it. They came back and said it was fine so I bankedit. Money cleared in the account two days later. 12 days later had a later saying it was a fraud and the money debitted from the account.
The RBS have now finally concluded their "investigation" and despite the person in charge of the so called investigation telling me over the telephone that the "branch in question were not aware of our policy in relation to bankers drafts so there was a traing issue there!!!", they have refused to refund the money but have offered us £250 as compensation for taking so long (nearly four months!) to deal with it. They say that the cashier has been spoken to and cannot remember saying that it was ok and so they do not hold themselves responsible.
Obviously I am not settling for this and will be taking the matter further. Fortunately my local MP is on my side and is contacting the Bank on my behalf offering them another opportunity to resolve this matter before taking it to the press.
Beware any bankers drafts if you are selling a car. My advice would be go to the bank with the buyer and get him to withdraw cash in front of you and pay it into an account there and then, don't accept anything less.
Further updates as and when.
Rgds
The RBS have now finally concluded their "investigation" and despite the person in charge of the so called investigation telling me over the telephone that the "branch in question were not aware of our policy in relation to bankers drafts so there was a traing issue there!!!", they have refused to refund the money but have offered us £250 as compensation for taking so long (nearly four months!) to deal with it. They say that the cashier has been spoken to and cannot remember saying that it was ok and so they do not hold themselves responsible.
Obviously I am not settling for this and will be taking the matter further. Fortunately my local MP is on my side and is contacting the Bank on my behalf offering them another opportunity to resolve this matter before taking it to the press.
Beware any bankers drafts if you are selling a car. My advice would be go to the bank with the buyer and get him to withdraw cash in front of you and pay it into an account there and then, don't accept anything less.
Further updates as and when.
Rgds
I bought my car with a bankers draft, I got the name and phone number of the person at the branch who issued it to me, gave the details to the seller a couple of days before I picked up the car and had them phone the issuing branch to verify all the numbers direct with the person that issued it.
No way would I put money into a stranger's account without first having the car and V5 in my possession.
No way would I put money into a stranger's account without first having the car and V5 in my possession.
onomatopoeia said:
I bought my car with a bankers draft, I got the name and phone number of the person at the branch who issued it to me, gave the details to the seller a couple of days before I picked up the car and had them phone the issuing branch to verify all the numbers direct with the person that issued it.
No way would I put money into a stranger's account without first having the car and V5 in my possession.
No way would I put money into a stranger's account without first having the car and V5 in my possession.
The only time I have done it the car was at a main dealers after a PDI and they wouldn't release the car to anybody without both parties agreement!
Red Head said:
Waiting to hear from my MP first but Watchdog have been informed and a legal team is on standby...
Excellent, I wish you all the best they need somebody to stand up to them.
As always banks are willing to lend you an umbrella but as soon as it starts to rain the want the
bakRed Head said:
Waiting to hear from my MP first but Watchdog have been informed and a legal team is on standby...
All IMHO of course, the bank must shirley (
)be in a very weak position here. The fact they further endorsed the draft by clearing the funds must spell doom for them.
That and the fact they raided Red's account 12 days later to recoup the fraud that had been committed on them must make them virtually guilty until proven innocent!
I am following this story Red with interest and wish you every success in resolving (and recovering all monies, with compensation for mental suffering etc, etc) this injustice.
Absolutely terrible!
"the cashier can't remember saying it" / "not aware of our policy" - well that's hardly your f**king fault is it?! It's entirely theirs.
Although the £250 is a massive slap in the face, I would be wary of taking this as if (when!) it goes to court it could be seen as you accepted it as settlement.
Have you seen a lawyer yet? CAB?
"the cashier can't remember saying it" / "not aware of our policy" - well that's hardly your f**king fault is it?! It's entirely theirs.
Although the £250 is a massive slap in the face, I would be wary of taking this as if (when!) it goes to court it could be seen as you accepted it as settlement.
Have you seen a lawyer yet? CAB?
Seems like the best way is.
Put car up for sale.
Open new bank account.
Agree sale of car and receive bankers draft.
Pay bankers draft into new account and wait for it to clear (if it needs to).
Transfer money to regular bank account.
Close new bank account.
Hand over car.
If the draft turns out to be fake, it is now the banks problem and there's nothing they can do except persue you through the courts.
Put car up for sale.
Open new bank account.
Agree sale of car and receive bankers draft.
Pay bankers draft into new account and wait for it to clear (if it needs to).
Transfer money to regular bank account.
Close new bank account.
Hand over car.
If the draft turns out to be fake, it is now the banks problem and there's nothing they can do except persue you through the courts.
Edited by VladD on Tuesday 12th September 13:37
VladD said:
Seems like the best way is.
Put car up for sale.
Open new bank account.
Agree sale of car and receive bankers draft.
Pay bankers draft into new account and wait for it to clear (if it needs to).
Transfer money to regular bank account.
Close new bank account.
Hand over car.
If the draft turns out to be fake, it is now the banks problem and there's nothing they can do except persue you through the courts.
Put car up for sale.
Open new bank account.
Agree sale of car and receive bankers draft.
Pay bankers draft into new account and wait for it to clear (if it needs to).
Transfer money to regular bank account.
Close new bank account.
Hand over car.
If the draft turns out to be fake, it is now the banks problem and there's nothing they can do except persue you through the courts.
Edited by VladD on Tuesday 12th September 13:37
but wouldnt they just take the money from the account you transferred to?
audior said:
VladD said:
Seems like the best way is.
Put car up for sale.
Open new bank account.
Agree sale of car and receive bankers draft.
Pay bankers draft into new account and wait for it to clear (if it needs to).
Transfer money to regular bank account.
Close new bank account.
Hand over car.
If the draft turns out to be fake, it is now the banks problem and there's nothing they can do except persue you through the courts.
Put car up for sale.
Open new bank account.
Agree sale of car and receive bankers draft.
Pay bankers draft into new account and wait for it to clear (if it needs to).
Transfer money to regular bank account.
Close new bank account.
Hand over car.
If the draft turns out to be fake, it is now the banks problem and there's nothing they can do except persue you through the courts.
Edited by VladD on Tuesday 12th September 13:37
but wouldnt they just take the money from the account you transferred to?
What if it was in a different bank? Could they do this?
Just in case it helps I had a little trouble with my mortgage company when I wanted to pay it off early. They didn’t calculate the early redemption penalty in accordance with the terms of the original offer letter and it was going to cost me something like £500 odd.
2 or 3 weeks of getting nowhere, even with the help of the regional man in charge of mortgages who agreed with my calculations, and I sent them a further letter, cc’d to the Chairman. Within 5 days I’d had a ‘phone call a letter from his office confirming they were wrong and that I could keep the money and a cheque for £350 compensation which I had never even asked for.
If you haven’t already see if this works at all for you.
2 or 3 weeks of getting nowhere, even with the help of the regional man in charge of mortgages who agreed with my calculations, and I sent them a further letter, cc’d to the Chairman. Within 5 days I’d had a ‘phone call a letter from his office confirming they were wrong and that I could keep the money and a cheque for £350 compensation which I had never even asked for.
If you haven’t already see if this works at all for you.
Think your flogging a dead horse here, its well known that bankers drafts arn't worth the paper they are written on. Ignorance is not a defence.
In the cold light of day you presented a fake bankers draft to the bank, ok it looked like a real one, and the 18yr old clerk behind the counter also thought it looked real, but it wasn't and as soon as the bank realised they withdrew the funds, if they back down then that opens the flood gates, every scroate in the uk will be trying to cash fake bankers drafts and everyone who has been stung by this con will be trying to get there money back from the bank.
And to the people who say they are as good as cash, try this, get a bankers draft and try to get a bank to cash it for you.
If you want somthing thats as good as cash, try cash, works for me.
Whenever I have sold a car I have never had anyone refuse to pay cash, it may take a couple more days but I can wait, that goes for a banger upto when I sold my TVR.
In the cold light of day you presented a fake bankers draft to the bank, ok it looked like a real one, and the 18yr old clerk behind the counter also thought it looked real, but it wasn't and as soon as the bank realised they withdrew the funds, if they back down then that opens the flood gates, every scroate in the uk will be trying to cash fake bankers drafts and everyone who has been stung by this con will be trying to get there money back from the bank.
And to the people who say they are as good as cash, try this, get a bankers draft and try to get a bank to cash it for you.
If you want somthing thats as good as cash, try cash, works for me.
Whenever I have sold a car I have never had anyone refuse to pay cash, it may take a couple more days but I can wait, that goes for a banger upto when I sold my TVR.
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