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How to accept payment..
- Thread starter mr gill
- Start date
A BACS can't be reversed. Where are you guys getting this info from? I used to work at LloydsTSB, HSBc and Natwest. :?:
As said, over £20k and it will take a day or two.
Best thing to do is get the person to pay you £1 today, for example, then when he comes on Saturday, you will already be set up as a recipient on his account, so it won't look dodgy/irregular. Then transfer over the other £10/20/30k and it will literally be in there before you have even finished your cuppa :thumbs:
If you take a Bankers Draft then take it to the bank with the buyer and pay it in, until it's paid in then don't release anything, not even a Jaffa cake!
Good luck :thumb:
As said, over £20k and it will take a day or two.
Best thing to do is get the person to pay you £1 today, for example, then when he comes on Saturday, you will already be set up as a recipient on his account, so it won't look dodgy/irregular. Then transfer over the other £10/20/30k and it will literally be in there before you have even finished your cuppa :thumbs:
If you take a Bankers Draft then take it to the bank with the buyer and pay it in, until it's paid in then don't release anything, not even a Jaffa cake!
Good luck :thumb:
Bluebird911
Montreal
- Joined
- 29 May 2010
- Messages
- 500
CHAPS payment is the fastest method and secure, particularly if the values are more than the £20k, which is the per day limit imposed by most banks for money transfers.
£25 is a small price to pay for this service and as both parties benefit from it, you could suggest splitting it. However, if the value of the car is say £30k?? it feels like penny pinching!!
Good luck with your sale!
£25 is a small price to pay for this service and as both parties benefit from it, you could suggest splitting it. However, if the value of the car is say £30k?? it feels like penny pinching!!
Good luck with your sale!
HSC911 said:A BACS can't be reversed. Where are you guys getting this info from? I used to work at LloydsTSB, HSBc and Natwest. :?:
As said, over £20k and it will take a day or two.
Best thing to do is get the person to pay you £1 today, for example, then when he comes on Saturday, you will already be set up as a recipient on his account, so it won't look dodgy/irregular. Then transfer over the other £10/20/30k and it will literally be in there before you have even finished your cuppa :thumbs:
If you take a Bankers Draft then take it to the bank with the buyer and pay it in, until it's paid in then don't release anything, not even a Jaffa cake!
Good luck :thumb:
As advised by NatWest as i often receive 6 figure payments!
Smoke, mirrors and a good dose of folklore.
UK clearing bank to UK clearing bank no problem, and after an initial payment to facilitate fast payment it's instantaneous.
Anyone ever heard of someone done over on a BACS payment??
Ever tried to get back a payment you made to an incorrect account number inadvertently? That's at the discretion of the recipient of the funds. There is no legal way to immediately snatch back funds. Otherwise we'd all be doing it.
I'm sure there are some bankers/corporate lawyers on here to advise. The rest of us believe what our bank tells us. Otherwise I wouldn't leave anything on deposit. It's not the Wild West out there.
Now, leaving your car with someone else to sell on you're behalf because they have the facilities to manage money safely..........."Billy the Kid Cars"
UK clearing bank to UK clearing bank no problem, and after an initial payment to facilitate fast payment it's instantaneous.
Anyone ever heard of someone done over on a BACS payment??
Ever tried to get back a payment you made to an incorrect account number inadvertently? That's at the discretion of the recipient of the funds. There is no legal way to immediately snatch back funds. Otherwise we'd all be doing it.
I'm sure there are some bankers/corporate lawyers on here to advise. The rest of us believe what our bank tells us. Otherwise I wouldn't leave anything on deposit. It's not the Wild West out there.
Now, leaving your car with someone else to sell on you're behalf because they have the facilities to manage money safely..........."Billy the Kid Cars"
segart said:
But you can't just BACS 6 figure amounts in one go as discussed.
Is it done in a different way/Personal or Business account :dont know:
I mean, can you go online, attempt to pay me £200k and type in the numbers from the little keypad thing them that's it :?:
Can we try it please
Would love to know the answer, will speak to ex-Natwest colleague and get back to you with an answer :thumb:
Actually what is meant was that if a credit is made to you account, by whatever means, and an irregularity surfaces, such as some sort of fraud or lack of funds or whatever, the bank that the payment came from (not the individual making the credit) can withdraw those funds within a five day period. Not trying to lecture anyone, just relaying advice from NatWest, and saying, be careful out there!
Rick
Rick
cheshire911
Portimao
- Joined
- 10 Jun 2012
- Messages
- 4,030
mr gill said:
Found the Granturismo then? Or have you decided to go for a Panamera?
I got lucky when I bought, and then sold my last car privately. Both I and the seller/buyer banked with the same bank. This meant that when I bought, we drove to the bank branch and did the transfer at the till. When I sold, the buyer transferred online and the money appeared in my account within minutes. I think if I sell privately again I'd consider opening an account at the same bank as the buyer to enable me to do the same again, the funds cleared there and then.
I wouldn't want to take a bag of cash, with the risk of fake or stolen cash and the onus on me to check it all. I guess if you can pay it in at the bank before handing over the keys the risk is reduced.
I wouldn't want to take a bag of cash, with the risk of fake or stolen cash and the onus on me to check it all. I guess if you can pay it in at the bank before handing over the keys the risk is reduced.
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