Bank transfers at the weekend?
Discussion
I am going to buy a car from a private seller next weekend - and it's just dawned on me that I have never actually bought a car using a bank transfer before - I have always bought from a dealer (finance/debit card) or sub £2k cars from private sellers (cash). Has anyone ever been stuck at the sellers house waiting for a bank transfer to clear?
Yes I’ve been stuck for hours once with a mate, standard security check that he failed because his signal cut out during it.
Make sure all you’re details are up to date and you have a back up plan. Faster payments is up to 2 hours I believe but usually instant.
I don’t know if it helps but I usually pay a deposit via the same method so I’m not setting them up as a new recipient when I collect the car
Make sure all you’re details are up to date and you have a back up plan. Faster payments is up to 2 hours I believe but usually instant.
I don’t know if it helps but I usually pay a deposit via the same method so I’m not setting them up as a new recipient when I collect the car
I’ve been stuck before (Sunday afternoon). Sent the cash over in two payments to avoid a transaction fee (my own fault I know) - first one was received within 15 mins, second one took 1hr 45mins. To be fair the transactions did say they could take up to 2 hours to be received by the beneficiary. Cue a lot of small talk sat in the sellers living room. After an hour I showed him the second transaction on my online banking and he said I could set off home with the car since the first payment (approx 65% of the total) went through without issue and stated that he trusted me but I waited it out for my piece of mind and his.
Would I do it again, yes. If I was in a rush or had big distance to travel I’d pay the transaction fee though.
Would I do it again, yes. If I was in a rush or had big distance to travel I’d pay the transaction fee though.
Banking apps can be limiting on speed of transaction.
The safest and fastest way to do a transfer outside of banking hours is to log onto the bank website a few times using your phone browser so it is authenticated, and carry the little card reader with you. Things are changing more with face recognition etc.
The safest and fastest way to do a transfer outside of banking hours is to log onto the bank website a few times using your phone browser so it is authenticated, and carry the little card reader with you. Things are changing more with face recognition etc.
This happened to me, sold my car to a guy at 10pm on a Saturday. He transferred the funds to my account, but absolutely nothing came through. Not able to phone either of our banks because of the time, he showed me he'd sent the money from his online banking on his phone, but I hadn't received.
Difficult situation, because if he's not a scammer, he's transferred the money already, and can't exactly leave without the car or the money. Equally hard to let him take the car because I haven't got the money yet. After a couple of hours without the money coming through, I let him take the car without the money coming through yet, as didn't see another option. Fortunately for me the money came through 9am the next morning!
I'll definitely be doing car sales in the daytime in future, during bank opening hours.
Difficult situation, because if he's not a scammer, he's transferred the money already, and can't exactly leave without the car or the money. Equally hard to let him take the car because I haven't got the money yet. After a couple of hours without the money coming through, I let him take the car without the money coming through yet, as didn't see another option. Fortunately for me the money came through 9am the next morning!
I'll definitely be doing car sales in the daytime in future, during bank opening hours.
Had some guy and his dad turn up to buy my £6k car a couple of years ago in the evening and he could not get his payment to go through and then had to phone his mum to try and do it through her account - took hours for him to sort it.
Recently bought a car from a fellow PHer and I initially did a small transaction to check the details and then the full amount, but not sure that is a great idea as the larger payment took forever to come through.
Recently bought a car from a fellow PHer and I initially did a small transaction to check the details and then the full amount, but not sure that is a great idea as the larger payment took forever to come through.
FPS are usually instant, when it's bad can take a few hours, but remember that they are only guaranteed to arrive by the end of the next business day.
Almost nothing you can do (like making a 1 pound payment) will influence the arcane checks that are done in the background, and which work 24/7.
It might be frustrating at night or on a weekend not being able to speak with someone, but in almost all cases your bank will not be able to do anything for you, and they will only be able to tell you to wait.
Adding the payee before doing the transaction might be a good idea, as some banking apps require an additional level of verification to do that.
Oh, and be sure to have good reception, as your bank might try to reach you to confirm the payment.
Almost nothing you can do (like making a 1 pound payment) will influence the arcane checks that are done in the background, and which work 24/7.
It might be frustrating at night or on a weekend not being able to speak with someone, but in almost all cases your bank will not be able to do anything for you, and they will only be able to tell you to wait.
Adding the payee before doing the transaction might be a good idea, as some banking apps require an additional level of verification to do that.
Oh, and be sure to have good reception, as your bank might try to reach you to confirm the payment.
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