bren.wright

Hi guys,

Just sold my car (touch wood).

The buyer wants to pay some of it by cash and some by bankers draft. I have heard a few horror stories lately about fake bankers drafts. Seems a genuine bloke but you never can tell, better to be safe than sorry.

Is there anyway to confirm it is genuine other than to take it into the bank?

Advice appreciated.

Thanks

Bren

watto52

personally id only take cash

ru'

I'd get him to go to the bank with you and wait while you pay it in to your account. The bank should then check the cash and draft (both could be moody).

fitzscoob

A genuine honest person would have no qualms in doing this

bren.wright

If I took cash only it would look like I was dealing lmao, it's a large amount.

Cheers guys, I will speak to the bank and see if I have to make any arrangements!

richardg

i bought a car with a bankers draft a few years ago and the dealer rang the bank branch to check the number on the draft and the amount

fitzscoob

The other way to accept payment is to have the purchaser make a direct payment from his bank to yours. Used to be called a TT or something. Costs the payer £15 at hsbc, funds go in immediately.

pslewis

I would want it ALL in Bankers Draft myself!!

BUT

I would ring the Issuing Bank to check the cheque is genuine - if they say it is, than it's BETTER THAN CASH!!

Do the deal when the Banks are open!

Pete

bren.wright

I just called the bank and they said there is no way to confirm that it's a genuine draft without taking it into a branch, I will just have to arrange everything so I can take the draft into the bank before the car goes anywhere.

New_scooby_04

iTrader: (4)

Do that then- then you've satisfied the bank! Do be aware that a common trick used by scammers is to say they are prepared to do this, then arrive late (after closing hours) and protest that they've come along way and don't want to have to make another trip.

Be very polite, but make it clear that the car will not be released untill the funds IN FULL are IN your account and that if that means they have to physically pay the bankers draft in with you, that's what must happen!

Anyone serious about a car will understand and not mind in the slightest.

NS04

davegtt

it costs something like £15 for the bankers draft to be set up anyhow so I find its probably better to do a direct bank transfer. Easy.

pslewis

The Bank is telling porkies!!!!!

If you ring the ISSUING branch then they can simply look through their cheque book and confirm - over the phone - the cheque number and amount!

It REALLY is that simple!!

Pete

ru'

Agreed; my comment was that the cash and the draft could be moody, not the bank and the buyer (if that was what you meant)

MattN

Having worked for a bank i can confrim the issuing bank can confirm if it's genuine.

It is simply a cheque, but drawn from the bank not the buyer(the bank will only issue it if the buyer has enough CLEARED funds).

Of course phoning YOUR branch won't tell you if it's real or not!