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  • What safest mode of payment when selling a car?
  • wolfenstein
    Free Member

    I know there is a post like this here but cannot find it.. Is electronic transfer safe enough and less hassle? I know that same bank electronic transfer is immediate.. Does anyone know how long it takes if electronic transfer between different banks ? Cheers

    lunge
    Full Member

    Depends on the amount but for me, cash, exchanged and checked with a forgery pen and then paid straight into a bank is good for smaller amounts. And make sure you write out a receipt saying “sold as seen” on it, both parties get a copy.

    wanmankylung
    Free Member

    Take them to your bank and get them to pay there.

    weeksy
    Full Member

    most transfers even with different banks are seconds now days. I’ve had plenty recently for an upcoming event and they’ve all been in by the time I’ve even logged on.

    bikebouy
    Free Member

    Over £7k then transfers fine if they do it right in front of you or you are both in the Bank..
    Watch out for over £12k transfers.. Banks want to know what it’s for and where the money is coming from.

    wolfenstein
    Free Member

    Thanks lads, its just over £7k ..electronic transfer seems best and hassle free. Thanks for confirming no timeframe to worry if between different banks.

    Mintman
    Free Member

    The AA website had a natty little sales receipt that I used when I sold a car privately. I don’t know if it really achieves much but I figured there was no harm in at least trying.

Viewing 7 posts - 1 through 7 (of 7 total)

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