Safest way to take payment when selling a car????

[Greeners]

The last two bankers drafts I have received have taken 3 days to clear!!!

[Top Cat]

I was going to say this, thats why they have chaps now, same price as a draft too. 

[DaveB@Vagbremtechnic]

Drafts are guaranteed funds but not cleared

[Creatz]

I get the buyer to meet me at my branch with the cash,That way  the bank can confirm there not fake notes, and its guaranteed cleared funds.
Then i give the log book and keys over inside the bank,this way its all on cctv as well

[h4rdy]

When I bought mine off a member here, he picked me up from the bank as I had arranged with them to collect the money from that branch.

He then counted it out again and the car was mine.

I was bricking it though and I think if I was to do that again I would meet him IN the bank like somebody else said.

I was ringing the wife and telling her where I was at every step.

You get a feel for these things though and if any doubt of not being comfortable back out.

Also don't accept cash after the banks close as they will know the cash is in the house. Then make it clear your going to the bank to put it in.

[rich83]

Cash!! Or bankers draft.

[Poverty]

what about online bank transfers?

[rich83]

what about online bank transfers?

Yes... That's another fail safe option! :-)

[Steve Baker]

what about online bank transfers?

Yes I thought about that but if it's from a different bank will it be immediate??? is it reversible?

[Tamiyoman]

Also don't accept cash after the banks close as they will know the cash is in the house. Then make it clear your going to the bank to put it in.

Unless you have huge angry dogs who dont like being woken up you can always use the cash drop box at local bank if you have arranged prior access, if not if you know a friend with a safe to hold it overnight you will be ok, that way you can sleep at night 

[richtung]

if it's cash, then another vote for getting the buyer to pay directly at the counter. You dont physically touch the money.

I did this when i sold the 4mo, it was a bit of a chavy type of guy. Paid into my a/c at the counter, he handed over the money - the lady counted it and it was £20 short. He swore blind that he counted it 3 times the night before... 

also, if there any decent forgeries in the bundle, the bank can reject it with the guy there rather than you trying deposit the cash later, getting any fakes rejected and then having to contact the buyer again....

Rich

[Greeners]

what about online bank transfers?

Yes I thought about that but if it's from a different bank will it be immediate??? is it reversible?

I mentioned this earlier in the thread...........

Usually clear within two hours sometimes faster. Not reversible afaik.

[bowie]

Greeners is right. No need for drafts , etc anymore. Whenever I've bought or sold I've done a "faster payment" which will show on your account (or theirs) as an FPI (faster payment incoming). Its ususally done within the hour whenever I've done it and it doesn't matter if you bank with different banks either.

Chris.

[Hedge]

I say go for cash and ask for it in £2 coins. 

[sub39h]

I say go for cash and ask for it in £2 coins. 

not safe enough. go for 10p pieces