anything to look out for with bankers drafts?
#2
Originally Posted by juan
Bankers drafts are supposed to be pretty kosher as payment yes?
Any thing to look out for?
thanks
Any thing to look out for?
thanks
The bank will only issue a banker's draft providing funds are already available cleared funds, once the cheque is issued, the funds are earmarked on the a/c ( put to one side) this is to guarantee that the cheque will be paid once cleared. The cheque's are normally hand written with a banker's stamp on.
Hope this helps
Nicola
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As above and most banks charge between £10 and £30 to issue one - I just bought my 02WRX using one - accepted as cash by the dealer...
#5
sorry to be a pain here but if i was you don t have anything but cash wait a bit longer i had a building society cheque and it took 6 weeks for it to come back and say its in the hands of the cid as it was stollen in a bank robbery and some clever beggar had a machine the same as the building society to print them 2 weeks later it was on watchdog saying that there was alot of this going on so beware if its cash and not fordged then your safe unlike me theft by deception no insurance lost my car
#7
Hmm
buyer coming tonight to collect with a bankers draft.
not convenient to organise a daytime exchange (fair distance).
guess can't call bank in the evenig either.
oh well heres hoping nothing goes wrong!
buyer coming tonight to collect with a bankers draft.
not convenient to organise a daytime exchange (fair distance).
guess can't call bank in the evenig either.
oh well heres hoping nothing goes wrong!
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#9
Originally Posted by Jason Knowles
I would accept it but wouldnt let the item go until the funds had cleared into my account,you never know what fraud people are up to
#10
Originally Posted by Jason Knowles
The chances are you will not have a problem,but fraudsters lead you into a false sence of security,often by multi visits before they do the deal
Its not his first visit. Seems genuine but I'm sure most rip off merchants do
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Oh well, until it clears, treat is as so you have no car and no money.
If you must 'hope' that nothing goes wrong, then carefully check the cheque to see if it's a photcopy etc. Some banks (lloyds) have handwritten bank cheques whereas some have printed versions.
If you must 'hope' that nothing goes wrong, then carefully check the cheque to see if it's a photcopy etc. Some banks (lloyds) have handwritten bank cheques whereas some have printed versions.
#12
Your giving someone your car on the stregth of a piece of paper,Ive sold loads of cars and if its a genuine buyer they will not mind waiting,you can also express the check to clear it faster
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Originally Posted by mr & mrs carlos uk300
The bank will only issue a banker's draft providing funds are already available cleared funds, once the cheque is issued, the funds are earmarked on the a/c ( put to one side) this is to guarantee that the cheque will be paid once cleared. The cheque's are normally hand written with a banker's stamp on.
Hope this helps
Nicola
Hope this helps
Nicola
Simon
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I've bought two cars with bankers draughts and each time I was travelling a considerable distance to buy them. I wouldn't have bought them if the seller was going to be crusty about it because b/draughts are about as safe as you can get with the exception of a wire transfer there and then in your branch! I have no issue taking them provided I have built up a good relationship with the buyer in the days/weeks leading up to the purchase.
When distances are involved there has to be a little 'meeting in the middle'
When distances are involved there has to be a little 'meeting in the middle'
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right
i went through this on here and with my bank when i was buying a car. after speaking with the bank (and getting peeved off with them!) they told me that bankers drafts are not guarenteed funds (WTF pay 10 quid for them?!!?) and that they can be cancelled and you should wait 5 days or so to make sure the money has "been through the banking cycle" - they can never explain what the banking cycle is.
i went through this on here and with my bank when i was buying a car. after speaking with the bank (and getting peeved off with them!) they told me that bankers drafts are not guarenteed funds (WTF pay 10 quid for them?!!?) and that they can be cancelled and you should wait 5 days or so to make sure the money has "been through the banking cycle" - they can never explain what the banking cycle is.
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yes agree, often carrying cash that kind of distance is not always a good idea because if anything was to happen and you lost all the cash, got mugged etc you'd have no money + no car not a nice situation to be in
#17
Well the car has gone and I have a bankers draft. It is as you described it Nicola plus a hologram type affair on it
Will take 3 days to clear so I shall be waiting but I'm fairly confident he is genuine
Heres hoping
I did call the bank before he arrived to enquire as to whether they could be cancelled and was told that some kind of caution / alert can be put on them if you report them lost etc.
She did suggest that ideally should call the issuing bank and they can confirm that a bankers draft has been made out - so that would help negate the fear of it being completely fraudulent at least
but not really possible out of hours
Will take 3 days to clear so I shall be waiting but I'm fairly confident he is genuine
Heres hoping
I did call the bank before he arrived to enquire as to whether they could be cancelled and was told that some kind of caution / alert can be put on them if you report them lost etc.
She did suggest that ideally should call the issuing bank and they can confirm that a bankers draft has been made out - so that would help negate the fear of it being completely fraudulent at least
but not really possible out of hours
Last edited by juan; 25 April 2005 at 09:44 PM.
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If anyone wants to pay me by Banker's draft then will always insist they come during banking hours and at the very least have their bank details - account statements and receipt of issue with it.
A guy I knew was duped with a stolen cheque and when he spoke to the police he was told that the same fraudster had also sent the same cheques to charities - this idiot obviously thought they were being cashed and was trying to clear his conscience of being a thieving **** by sending some money to charity.
Oh and another thing I just thought of...if you had a video camera or still camera you should have taken some pictures and see if he cared or not.
A guy I knew was duped with a stolen cheque and when he spoke to the police he was told that the same fraudster had also sent the same cheques to charities - this idiot obviously thought they were being cashed and was trying to clear his conscience of being a thieving **** by sending some money to charity.
Oh and another thing I just thought of...if you had a video camera or still camera you should have taken some pictures and see if he cared or not.
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