Bankers Drafts
Discussion
I'm moving into a new (rented) house on Tuesday and have to pay ~£6k for rent and deposit.
I was going to pay with a simple bank transfer, but as they reckon it can take up to 4 working days I'd need to do it tomorrow at the latest. Although I'm not sure why it would take 4 working days 'cause whenever I do transfers they seem to arrive instantly.
The problem is that one of my housemates' cash hasn't hit my account yet, so I'm unlikely to be able to do the transfer tomorrow.
So the other option is to pay when I collect the keys with a Bankers Draft, but having never used one before I've got a few questions.
Can I just wonder into the bank on Monday and have one made up?
Do they cost anything?
Bank is Natwest if that makes a difference.
The other option is to borrow the ~£2k from savings/parents for a couple of days and do the transfer tonight/tomorrow, but if there's gonna be no problem with a Bankers Draft I may aswell just use that.
I was going to pay with a simple bank transfer, but as they reckon it can take up to 4 working days I'd need to do it tomorrow at the latest. Although I'm not sure why it would take 4 working days 'cause whenever I do transfers they seem to arrive instantly.
The problem is that one of my housemates' cash hasn't hit my account yet, so I'm unlikely to be able to do the transfer tomorrow.
So the other option is to pay when I collect the keys with a Bankers Draft, but having never used one before I've got a few questions.
Can I just wonder into the bank on Monday and have one made up?
Do they cost anything?
Bank is Natwest if that makes a difference.
The other option is to borrow the ~£2k from savings/parents for a couple of days and do the transfer tonight/tomorrow, but if there's gonna be no problem with a Bankers Draft I may aswell just use that.
911DM said:
Why not make a CHAPS payment - same day transfer of funds. Costs about £15.
You can only pay out money you've got so you'll have to wait for your mate's money to clear. I imagine it's the same with a Banker's Draft.
Cheers that's another option if I can't do a Bankers Draft.You can only pay out money you've got so you'll have to wait for your mate's money to clear. I imagine it's the same with a Banker's Draft.
Edited by 911DM on Tuesday 15th September 20:29
The money will be clear by Monday so shouldn't be a problem with having the funds.
bigTee said:
same day banking now!
That's what I've found with some transfers. But the £2k from one of my mates was sent on Sunday and still hasn't appeared. Whereas the other one sent it today and it's in my account. So I don't want to risk not having somewhere to sleep on Tuesday night by doing the transfer too late!You need a faster payments sort code checker to check the sort codes for faster payments!!!!
Here, have this one!!!
http://www.apacs.org.uk/sortcodechecker/index.html
Here, have this one!!!
http://www.apacs.org.uk/sortcodechecker/index.html
Engineer1 said:
Bankers Draft is only possible if you have the cash in your account as that's the point of them.
That's not a problem if I can wait until Monday to get the Bankers Draft.The problem is I need to do the transfer tomorrow (according to the letter from the Estate Agent at least) when I probably won't have the money in my account.
bigTee said:
You need a faster payments sort code checker to check the sort codes for faster payments!!!!
Here, have this one!!!
http://www.apacs.org.uk/sortcodechecker/index.html
A lot of Banks only do faster payments for small amounts as the system is still being tested, also anything sent faster payments is not guaranteed to go as a faster payment.Here, have this one!!!
http://www.apacs.org.uk/sortcodechecker/index.html
bigTee said:
Huntsman said:
FPS - faster payment service, ie same day transfer is limited to about 5 or 600 quid. More than this has to go the 3 day route.
no it's not!!!I pay my wages with it and paid £5000 today to someone who got it within 10 mins!!
It's a 10k limit.
http://en.wikipedia.org/wiki/Faster_Payment_Servic...
Gareth79 said:
bigTee said:
Huntsman said:
FPS - faster payment service, ie same day transfer is limited to about 5 or 600 quid. More than this has to go the 3 day route.
no it's not!!!I pay my wages with it and paid £5000 today to someone who got it within 10 mins!!
It's a 10k limit.
http://en.wikipedia.org/wiki/Faster_Payment_Servic...
Lefty Guns said:
Why can't you just withdraw the cash and, you know, hand it over?
I must be really old fashioned, I still use cash (the antiquated paper stuff) for lots of things.
Did cross my mind, but I think taking ~£6k out in cash might need pre-ordering, Spanish Inquisition style questioning etc.I must be really old fashioned, I still use cash (the antiquated paper stuff) for lots of things.
All sorted now using online transfers anyway.
Lefty Guns said:
Why can't you just withdraw the cash and, you know, hand it over?
I must be really old fashioned, I still use cash (the antiquated paper stuff) for lots of things.
Getting harder to do.I must be really old fashioned, I still use cash (the antiquated paper stuff) for lots of things.
I recently moved to a new place and offerred cash which was refused by the agent.
Had to go and pay it back into the account and get a draft.
No doubt money laundering related.
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