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Quite right BB thats why I mentioned "You and the seller tell your respective banks that you want to make a deal via a CHAPS transaction just a few days before you are to release the van."  That gives the Banks time to set things up and tell the Buyer and Seller just how, and when the dirty deed will be done.

Phil 

dont listen to tales of not being allowed to bank cash its rubbish ! if the seller is ok with it then cash is best if you are selling for a lot then buy a id pen ! they cost £5.

just bank the cash if asked tell them where its from. they want your money, incase you have been on the moon there is a world financial problem they need your cash as much as you do !

but for myself I would ask for a direct payment to the account. you will be told by moaning minnies that you should not give out the account details. again rubbish !

the only info you need to give is the sort code, account name, and account number.  its on all cheques and always has been.

if they pay a cheque in then dont release the unit untill its cleared.  simple !!!

Quote: Originally posted by TonyC52 on 24/2/2011

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Quote: Originally posted by exessexmum on 24/2/2011

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I wouldn't trust a bankers draft as there are forgeries to be had. Too many people are scammed with fake drafts. Like others have said, either cash or a direct bank transfer into your account, and don't release the an until the money is in your account and "drawable" ie it is a cleared balance.

Don't use paypal as it is subject to fees and chargeback, don't take a cheque unless the buyer is prepared to ait FOUR clear working days for it to become cleared funds (it's a fallacy that cheques clear in three days, they can still be stopped/bounced up to midday on the fourth day) And if you take cash, count it and watch out for dud notes -ones that don't look/feel quite right.  

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I think I'm right in saying that even after a check is "cleared funds" in your account it can stil be reversed if it is found to be forged. Up to 14 days I think, this is what many of hte scams are based on.

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three months and a cheque can still bounce if its deemed untrue by the banks.  yes they can withdraw it some time after,  from your account. if it been spent you still owe it. the banks have it their way always.   although its quite rare for it to happen.

but if they are arrested and sent down under the SOCA rules and an investigation of assets is carried out even a year later, then the police can attempt to regain their funds spent or not if its from crime and as such it illegal money !    happens all the time when property and luxury items are bought and sold from crime money !   it happened to a member of my family who sold a boat. it was shipped abroard and so the 16K was impounded and still is untill case is settled in high courts. that is no time soon.

many car dealers will not sell a car for cash as it costs them to bank it and that can be the same as giving another 2% disscount. but aslong as you have their details you are in 98% of cases OK.

I have sold several of our various cars/caravans over the years and unless taking cash I always tell the buyer to bring a cashier's cheque from his own bank for the full sale amount. You both go to your bank and the cheque is paid into the your account (ie sellers account) with both of you present. The bank then confirms after a short period that the money has been electronically transferred into your account (and cannot be cancelled/reclaimed by buyer) and, trying not to smile too much, you hand over keys of vehicle to buyer.

Snap