What would you do....? thoughts please.
Discussion
As i have said my 928 sold on ebay sunday. The winning bidder has been in touch and all is good, coming friday to collect. Now i've just checked my emails and he has emailed confirming collection friday and (this is the bit i want thoughts on...) wants to pay the whole amount by bankers draft, giving me the draft friday and taking the car with him.
Now, in the ebay auction i clearly said cash payment, the car sold for around 3500, so not a huge amount.
I don't doubt the integrity of the chap but im not keen on waving good by to my car on the strenth of a bankers draft in my hand (cleared into my bank would be different)
What are your thoughts?
Now, in the ebay auction i clearly said cash payment, the car sold for around 3500, so not a huge amount.
I don't doubt the integrity of the chap but im not keen on waving good by to my car on the strenth of a bankers draft in my hand (cleared into my bank would be different)
What are your thoughts?
kprm77 said:
If it was me I'd insist on cash. After all, that's what you said in the auction. If he insists on the Bankers Draft, then I'd reschedule so it can be done when the banks are open. Just not worth the risk IMHO.
If it was a few hundred quid i wouldn't mind but 3500 is a lot of money (well, to me it is)As i said the guy seems a decent chap, but sods law....
Do bankers drafts clear as per normal cheques? how does the system work?
theironduke said:
kprm77 said:
If it was me I'd insist on cash. After all, that's what you said in the auction. If he insists on the Bankers Draft, then I'd reschedule so it can be done when the banks are open. Just not worth the risk IMHO.
If it was a few hundred quid i wouldn't mind but 3500 is a lot of money (well, to me it is)As i said the guy seems a decent chap, but sods law....
Do bankers drafts clear as per normal cheques? how does the system work?
Say I wanted to buy your car, I'd go to the bank, tell them i wanted a draft for 3500 and they would write one up, and debit my account for 3500. The cheque is drawn on their drafting account, and as such cannot bounce so clearing becomes a non issue.
However, if its a fake draft, all bets are off.
The auction says cash doesn't it? Just say to him that you wanted it in cash as you won't be able to pay it in the same day and need the money asap, any other transfer will mean you have to wait for it to hit your account where as cash will be available on the account as soon as its deposited.
I used to work for a bank and bankers draft fraud has become very common. The only way I would accept one is if I could ring the bank that issued it and to check it was real (that they are holding the funds). But you said the banks will be shut, so you can't.
In this situation, I would ONLY accept cash.
Sounds very fishy to me.
I used to work for a bank and bankers draft fraud has become very common. The only way I would accept one is if I could ring the bank that issued it and to check it was real (that they are holding the funds). But you said the banks will be shut, so you can't.
In this situation, I would ONLY accept cash.
Sounds very fishy to me.
Edited by The Hitman on Wednesday 28th April 00:41
Steameh said:
theironduke said:
kprm77 said:
If it was me I'd insist on cash. After all, that's what you said in the auction. If he insists on the Bankers Draft, then I'd reschedule so it can be done when the banks are open. Just not worth the risk IMHO.
If it was a few hundred quid i wouldn't mind but 3500 is a lot of money (well, to me it is)As i said the guy seems a decent chap, but sods law....
Do bankers drafts clear as per normal cheques? how does the system work?
Say I wanted to buy your car, I'd go to the bank, tell them i wanted a draft for 3500 and they would write one up, and debit my account for 3500. The cheque is drawn on their drafting account, and as such cannot bounce so clearing becomes a non issue.
However, if its a fake draft, all bets are off.
theironduke said:
Steameh said:
theironduke said:
kprm77 said:
If it was me I'd insist on cash. After all, that's what you said in the auction. If he insists on the Bankers Draft, then I'd reschedule so it can be done when the banks are open. Just not worth the risk IMHO.
If it was a few hundred quid i wouldn't mind but 3500 is a lot of money (well, to me it is)As i said the guy seems a decent chap, but sods law....
Do bankers drafts clear as per normal cheques? how does the system work?
Say I wanted to buy your car, I'd go to the bank, tell them i wanted a draft for 3500 and they would write one up, and debit my account for 3500. The cheque is drawn on their drafting account, and as such cannot bounce so clearing becomes a non issue.
However, if its a fake draft, all bets are off.
Edited by Steameh on Wednesday 28th April 00:39
mat13 said:
If your completing the sale during banking hours pay the draft into your local branch before ssigning over the log book and handing over the keys.
I wouldnt put much faith in that working. Most of the counter staff would struggle to tell a well forged draft. If you want to go to a bank to validate it, go to a branch of his bank and get him to draw the draft infront of you.siscar said:
5678 said:
Tell him it has to be cash or a chaps transfer (these are instant.) Its the only option I'd accept if I were you mate.
CHAPS isn't instant, if done before 1.30 (I think) it will be there before the end of the working dayCash cash cash cash cash cash cash cash cash cash cash cash cash cash cash cash cash.
If the guy can go to the bank to get his bankers draught then he can get to the bank to get you cash instead.
p.s cash.
p.p.s just in case he is a dodgy mo-fo ensure you've a couple of big mates hanging round when he gives you the cash and don't leave it in your house over the weekend.
If the guy can go to the bank to get his bankers draught then he can get to the bank to get you cash instead.
p.s cash.
p.p.s just in case he is a dodgy mo-fo ensure you've a couple of big mates hanging round when he gives you the cash and don't leave it in your house over the weekend.
Edited by H on Wednesday 28th April 06:59
Cash cash cash cash cash cash cash cash cash cash cash cash cash cash cash cash cash.
If the guy can go to the bank to get his bankers draught then he can get to the bank to get you cash instead.
p.s cash.
p.p.s just in case he is a dodgy mo-fo ensure you've a couple of big mates hanging round when he gives you the cash and don't leave it in your house over the weekend.
If the guy can go to the bank to get his bankers draught then he can get to the bank to get you cash instead.
p.s cash.
p.p.s just in case he is a dodgy mo-fo ensure you've a couple of big mates hanging round when he gives you the cash and don't leave it in your house over the weekend.
Edited by H on Wednesday 28th April 07:00
Only way to ensure a bankers draft is 100% legit is to have it drawn up (in his bank) in front of you otherwise it can be returned upto a week later.
chaps payments have to clear, same as checks and can be stopped by the sender.
online payments from HSBC are supposed to be non reversible but from other banks can be stopped by sender.
cash is cash but make sure you have full paperwork for the sale as your bank may ask you to prove where it cam from.
the chap may be honest but if you asked for cash in the auction then stick to your guns.
chaps payments have to clear, same as checks and can be stopped by the sender.
online payments from HSBC are supposed to be non reversible but from other banks can be stopped by sender.
cash is cash but make sure you have full paperwork for the sale as your bank may ask you to prove where it cam from.
the chap may be honest but if you asked for cash in the auction then stick to your guns.
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