P1Fanatic

Its been a fair few years since I bought a car privately but I had hoped that in this day and age of the www that things would be easier but alas it seems not. I am looking to pick up a car on Saturday but it seems there is a BACS Faster Payment transaction limit of £10k per day. When I asked Natwest about this they said why dont you do one payment on friday and one on saturday I fully trust the chap selling but I still aint sending over £10k of my hard earned with nothing to show for it.

So then we move onto CHAPS. £23 fee natwest to A N other bank. But is not same day on a saturday.

Bankers drafts I have heard horror stories about which leaves me with a) take monday off to sort it out or b) pay in cash. Way back when I bought a scooby in cash for £15k and it was a) a ballache counting it when collecting from my bank b) dodgy walking around with a backpack full of cash and c) a tense few mins at the sellers bank watching them counting it and hoping they reach the right number.

Any other options I have missed?

Cheers
Simon

Ant

10k bacs and rest cash.

Terminator X

iTrader: (7)

Go somewhere where all the banks are located together (town centre?), get cash out from Bank 1 (watch it being withdrawn) wander across street & deposit cash in Bank 2. Sorted.

TX.

P1Fanatic

From what I just read here:

http://www.ukpayments.org.uk/faster_.../value_limits/

Faster Payment Service also not working on a Saturday.

P1Fanatic

Counting out £22k cash will be a pain even if I can get it all in £50 notes. But looking like the only option. Will stop off at local branch on the way home today and double check. At least Natwest are open til 6pm unlike HSBC I had to use the other day who shut at 5pm (large branch).

Terminator X

iTrader: (7)

The teller will count it in Bank 1 and 2. They use a machine too which speeds it all up.

TX.

P1Fanatic

Call me untrusting but with that amount of money I want to double check it myself before leaving bank 1

Terminator X

iTrader: (7)

Lol the bank teller won't / can't get it wrong!

TX.

David Lock

Why can't vendor be with you in your bank and collect money as counted by teller? Always assuming you can sign car papers in bank.

Or buy a cheaper car

dl

robby

Can't both you and the seller go into your bank together and have the money transfered to his?
If you were together in your bank couldn't you get a bankers draft? if he sees it being made out he'll know it's genuine