are bankers drafts as good as cash?
 

I have sold my car,and the buyer is writing a bankers draft to the finance company,to be posted when we are together,and i will be in the bank when he raises the draft,he will raise a draft for the balance payable to me

bearing in mind i am with him in the Natwest when he gets these things,is this the accepted way of doing things? am i at risk of anything dodgy?

I'd be a lot happier if he paid me the full ammount and then I'd pay off the finance company. That way you get the final settlement receipt made out to you.
dave

no,your not at risk,a bankers note is really to cover him.
thats how i sold my last car and everything went through fine,if anything i think its safer:D

He wouldn't make it all out to you because you may not pay the finance co and then he will be stuffed.
You are doing it correctly for both parties.

thought so,cheers

You are doing it right, and you should see him get the draft as there are forgeries around.

Therefore you know its a not a forgery and he knows the money has gone to the finance company.

Result all around.

Never thought of that mate!!
dave

There is nothing to stop you phoning the issuing Bank to check that the Banker's Draft is legit before you post the draft..

Chris

no need,we are going to the bank together,so i will see it from birth

Absolutely correct! I misread your original post. I'll shut up now :)

Chris

no problem,thanks for reading in the first place :)