Selling a car accepting cash ? or Bankers Draft
Discussion
Jimmyarm said:
Until it comes to light the money has come from a hacked bank account and it gets removed from your account.
For a private sale, cash paid into the bank with the buyer present is the only sure fire way.
the last time I bought a car privately, I went with the Seller to the bank. I handed in my debit car with the cash available in my bank account. The bank duly transferred the cash to the sellers account when the seller provided his bank details. The seller then requested to see his bank balance to confirm. It helps if you both bank at the same bank though but it then means not having to hoard around a bank raid and not having to worry about fake notes.For a private sale, cash paid into the bank with the buyer present is the only sure fire way.
Whilst BDs are withdran funds from an account, most banks will treat as a cheque - so no instant access for 4-5 working days.
Depending on amount being discussed, you could ask for half cash, half BD.
If you're going to take the BD, ask the buyer to bring proof of ID & address, and bank account.
Otherwise, a good Escrow service, but timeframe might not permit transferal of funds by the seller.
Depending on amount being discussed, you could ask for half cash, half BD.
If you're going to take the BD, ask the buyer to bring proof of ID & address, and bank account.
Otherwise, a good Escrow service, but timeframe might not permit transferal of funds by the seller.
Last time I sold a decent car was my smart roadster a few years ago which was sold using pistonheads classifieds, and the guy asked if he could use my computer and put the money over to my bank account, also you could tell he was a real pistonhead and showed me his id etc.
I don't know if its the way it should be done, but you could just tell the guy was genuine.
I have never been able to afford a decent car since but when I have sold my car its always been cash.
I would be very wary of Mr Omboto flashing a piece paper claiming it to be a bankers draft lol. Can anyone actually tell if a bankers draft is genuine because I wouldn't know.
If you want a quicker easier way of being robbed for your car you can always put your details in we buy any car and take their offer lol
I don't know if its the way it should be done, but you could just tell the guy was genuine.
I have never been able to afford a decent car since but when I have sold my car its always been cash.
I would be very wary of Mr Omboto flashing a piece paper claiming it to be a bankers draft lol. Can anyone actually tell if a bankers draft is genuine because I wouldn't know.
If you want a quicker easier way of being robbed for your car you can always put your details in we buy any car and take their offer lol
Edited by smugglersvin on Tuesday 24th January 20:57
13 DJP said:
cliffords said:
How do I know it is real cash ?
Quikest and easiest way is to run you thumb over the wording "Bank Of England" Real notes it will be raised, fake notes it will not.
If I was you, I would only accept cash, dodgy bankers drafts are everywhere.
The hardest things to copy are;
>the metallic strip going through the note. It should be woven through the paper, but not all the way through. Have a look at one, it's a complete bugger to replicate.
> the silver stamp/star on the other side. They shouldn't even slightly peel off, even if you scratch the edge of them.
Once you have a wad of notes, spotting the odd one out is very obvious.
If all else fails, most larger banks have Cash Deposit ATMs which have the functionality to scan notes to check if they are fraudulent. They are very very accurate.
Efbe said:
I happen to have a lot of experience with fake cash
The hardest things to copy are;
>the metallic strip going through the note. It should be woven through the paper, but not all the way through. Have a look at one, it's a complete bugger to replicate.
> the silver stamp/star on the other side. They shouldn't even slightly peel off, even if you scratch the edge of them.
Once you have a wad of notes, spotting the odd one out is very obvious.
If all else fails, most larger banks have Cash Deposit ATMs which have the functionality to scan notes to check if they are fraudulent. They are very very accurate.
As Efbe said the thread is the best one. It's put into the paper as it's manufactured, so the only way of making a proper counterfeit is to either make the paper (and you'll need a £20m papermill for that) or laminating two thin bits of paper together which is not easy.The hardest things to copy are;
>the metallic strip going through the note. It should be woven through the paper, but not all the way through. Have a look at one, it's a complete bugger to replicate.
> the silver stamp/star on the other side. They shouldn't even slightly peel off, even if you scratch the edge of them.
Once you have a wad of notes, spotting the odd one out is very obvious.
If all else fails, most larger banks have Cash Deposit ATMs which have the functionality to scan notes to check if they are fraudulent. They are very very accurate.
The printing is a giveaway too - it's done with a special process, so all of the print is raised off the surface of the paper a little. The feel as a result is completely different, but you need a known good banknote to check that unless you know banknotes well.
leef44 said:
the last time I bought a car privately, I went with the Seller to the bank. I handed in my debit car with the cash available in my bank account. The bank duly transferred the cash to the sellers account when the seller provided his bank details. The seller then requested to see his bank balance to confirm. It helps if you both bank at the same bank though but it then means not having to hoard around a bank raid and not having to worry about fake notes.
This has worked well for me last two cars I have soldOn the fake cash thing - there's some really really good fakes out there ATM and checking a large amount is tiresome and time consuming - so do what people have suggested and take it to your bank and deposit it (once deposited, it's your banks problem and not yours).
As for 'bankers drafts' - people think they're an unbounceable cheque and there's NO SUCH THING. ALL cheques of ANY kind can, will and do bounce and can and will be cancelled due to fraud or a funding issue.
Selling a car is either
a - cash which you bank with the buyer present (best option by far)
b - a cheque - in which case the buyer awaits clearance (cheques can be cancelled later tho so it's not ideal)
c - a bank transfer of some sort (in-branch or online banking or whatever) (can also be reversed so again, not ideal)
Never, ever, ever take any form of 'bankers draft' from a stranger as if it were cash - you will get stung.
Also - even if you're dealing in cash, make sure you get the details of the buyer including some proof they are who they say they are and their address is current - the best way to do this is to get them to do the V5 transfer and double-check their details then.
As for 'bankers drafts' - people think they're an unbounceable cheque and there's NO SUCH THING. ALL cheques of ANY kind can, will and do bounce and can and will be cancelled due to fraud or a funding issue.
Selling a car is either
a - cash which you bank with the buyer present (best option by far)
b - a cheque - in which case the buyer awaits clearance (cheques can be cancelled later tho so it's not ideal)
c - a bank transfer of some sort (in-branch or online banking or whatever) (can also be reversed so again, not ideal)
Never, ever, ever take any form of 'bankers draft' from a stranger as if it were cash - you will get stung.
Also - even if you're dealing in cash, make sure you get the details of the buyer including some proof they are who they say they are and their address is current - the best way to do this is to get them to do the V5 transfer and double-check their details then.
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