Is Nat West serious?

[bazjude2998]

Hi to all,
I want to purchase a classic car out in France,I would like to view the car and purchase on the day.The seller is very trusting and doesn’t require a deposit.I was hoping to use a debit card,go with the seller to his bank and complete the transaction.(€42000 )
My bank Nat West tells me I must phone home after viewing the car and the transfer can be completed but it may take more than 24hrs .Sounds utter bks to me .
Advice greatfully received
Regards

[Ziplobb]

does not work like that
I would be taking the cash in Euro then you can make your decision (or not) as the case may be and move on to the next car if you decide not to buy. Anything else is going to involve currency transfers & exchanges whilst you are out there and delays so if you valkue your time and want to make the buying decision on the spot and crack on cash is king.

[dundarach]

Sounds pretty sensible to me, yes it's a pain, and yes we're being penalised because to many idiots are being scammed.

However,

Book air BnB, view early weekday morning, stay the night, drive home the day after.

Can they not do a £25 CHAPS transfer...?

I do them every few months for care fees and it clears quickly.

[Cliftonite]

Ziplobb said:

does not work like that
I would be taking the cash in Euro then you can make your decision (or not) as the case may be and move on to the next car if you decide not to buy. Anything else is going to involve currency transfers & exchanges whilst you are out there and delays so if you valkue your time and want to make the buying decision on the spot and crack on cash is king.

Walking around with €42,000 in cash seems unwise.

[Ziplobb]

It’s only unwise if one is careless
Someone mentioned CHAPS earlier that is not an option for international transfers.

[stefd]

Debit cards are for buying things from merchants and CHAPS is UK only. You need to make an International Payment, if you make it by the cut-off time (usually 3pm) then the funds will clear the next day.

You'll need the seller's IBAN and maybe BIC. You may be able to set it up on via the NatWest Online Banking site (I doubt you can do it via app but might be wrong).

Edit to add - looks like there's a daily limit for online international payments, maybe you need to phone.

Edited by stefd on Thursday 30th May 20:19

[Deesee]

Sometimes the old ways are still the best Euro bankers draft..

Your vendor can walk into his bank and get it negotiated instantly.

Or amex travellers chq, and pay at his branch.

Although 42k in 500’s is about the same size as 2 cigarette packs. One in each jacket pocket

[matt666]

So you’re using a UK sterling current account to pay in Euros? Your bank will rip you off on the rate, I would probably pre convert the pounds to Euros using something like TransferWise then transfer to the recipient’s bank using that.

[supersport]

^^^^ yep

[Froomee]

Revolut card.

A guy recently purchased my car from Dublin and it made the whole experience a breeze.

Transfer funds from your current account into euros on the day (get a decent rate and no fee’s) and the transfer to a bank account is instant.

[Kent Border Kenny]

anonymous said:

[redacted]

Cash is fine as long as declared.

[bazjude2998]

Thanks for all replies
Regards Baz

[pghstochaj]

anonymous said:

[redacted]

Seems a bit unlikely or dubious, within the EU you can do what you like as far as I am aware, with both cash and tobacco.

[monkfish1]

Always remember the main high street banks have zero interest in you or your requirements.

Pleny of other non-bank solutions (some above) you can use.

[bloomen]

pghstochaj said:

Seems a bit unlikely or dubious, within the EU you can do what you like as far as I am aware, with both cash and tobacco.

Both the French and the Spanish are driven nuts by Andorra when it comes to tobacco. The road from Andorra to France has customs people hiding 20-50 miles into France. You seem them pulling people all the time.

With cash it can depend from country to country even between Schengen countries as far as I know.

Edited by bloomen on Saturday 1st June 00:14

[bazjude2998]

Update!
Still trying to buy and pay for this car.
The seller has suggested using
https://www.paycar.fr/en/i-am-buying/.
Appreciate any advice / info
Thanks Baz

[WillB]

I've always been really happy with the service from Transferwise.com
Most payments I receive seem to arrive within 24hrs on a weekday now (France-UK) via them.

Worth giving them a call to check on transfer time and options they can offer

[MOBB]

Just discovered transferwise after joining a company that uses it, would highly recommend it

[anonymous-user]

Monzo bank, limit is 50K and transfer would be instant.

[loafer123]

I have successfully used HiFx several times.