Lloyd90 Posted September 6, 2019 Report Share Posted September 6, 2019 I have provisionally sold my motorbike tonight, the bloke came to have a look and said he wanted it and will come to pickup next week. He asked for bank details and said he will pay a deposit into my account for the bike. Total price is £1000. Is there any issue with someone paying cash into an account etc when selling a vehicle? Quote Link to comment Share on other sites More sharing options...
spanj Posted September 6, 2019 Report Share Posted September 6, 2019 4 minutes ago, Lloyd90 said: I have provisionally sold my motorbike tonight, the bloke came to have a look and said he wanted it and will come to pickup next week. He asked for bank details and said he will pay a deposit into my account for the bike. Total price is £1000. Is there any issue with someone paying cash into an account etc when selling a vehicle? you'll be OK for a grand as its below the money laundering regs........ Quote Link to comment Share on other sites More sharing options...
B725 Posted September 6, 2019 Report Share Posted September 6, 2019 It's no different to selling owt else it's not like your a motor dealer, is there a side car with it 😂 Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted September 6, 2019 Author Report Share Posted September 6, 2019 No I just wondered, to make sure it's not one of those scams where they do a "deposit" that later somehow gets cancelled etc. 2 minutes ago, B725 said: It's no different to selling owt else it's not like your a motor dealer, is there a side car with it 😂 Yes but my dog is too leggy now and has out grown it lol Quote Link to comment Share on other sites More sharing options...
B725 Posted September 6, 2019 Report Share Posted September 6, 2019 I don't think you can reverse a bank transfer I'm sure its a one way thing. Quote Link to comment Share on other sites More sharing options...
Rupert Posted September 6, 2019 Report Share Posted September 6, 2019 (edited) in certain circumstances a bank transfer can be reversed/recalled/cancelled. Along the lines of the purchaser pays in a stolen/forged/fraudelent chq and transfers of the back of that when it clears, Bank later catches up and it all comes to light monies are recalled. Edited September 6, 2019 by Rupert Quote Link to comment Share on other sites More sharing options...
figgy Posted September 6, 2019 Report Share Posted September 6, 2019 Easiest is bank transfer when he comes to collect it. Only takes a moment and should show in your account not long after. If cash get a pen to check for fakes. Quote Link to comment Share on other sites More sharing options...
Rupert Posted September 6, 2019 Report Share Posted September 6, 2019 (edited) look for reasuring factors, photo ID, take copies, put there name into google/facebook street view the address on street view, ask him to describe it google his mobile number do pictures in his add feature the home address, get a picture taken today with todays paper and the bike cash paid over the counter at your branch together is least risky. For trusted dealings between trusted folk BT is the handyest but not risk free edit, some of this not relevant as you are the seller. just jumped in and skip read the thread. Edited September 6, 2019 by Rupert Quote Link to comment Share on other sites More sharing options...
Raja Clavata Posted September 6, 2019 Report Share Posted September 6, 2019 Obvious point but if he does the remaining transfer at the time of collection just make sure you validate the funds are in your account on your phone or mobile and not his👍 Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted September 6, 2019 Author Report Share Posted September 6, 2019 I think I’ll just tell him to bring cash 🤷♂️ Quote Link to comment Share on other sites More sharing options...
Pistol p Posted September 6, 2019 Report Share Posted September 6, 2019 If you're unsure of bank transfer type payments, initially send £1 only. If it clears fire over the rest. Quote Link to comment Share on other sites More sharing options...
hod Posted September 6, 2019 Report Share Posted September 6, 2019 (edited) I recently bought/sold cars privately. Bought by online bank transfer when standing beside the seller, I could see monies sent and he could check received. Sold my car for cash but went to the bank with the buyer and paid cash directly into my account, I’ve no idea what £100 notes should look like, never mind fake ones. Online banking transfer was for 10k. No issues. Edited to add I did just as Pistol says above and sent £1 first, earlier in the day. Edited September 6, 2019 by hod Quote Link to comment Share on other sites More sharing options...
team tractor Posted September 6, 2019 Report Share Posted September 6, 2019 When selling my van they transferred the money over (£14,000) it’s in my account so I released the van. Quote Link to comment Share on other sites More sharing options...
ph5172 Posted September 6, 2019 Report Share Posted September 6, 2019 (edited) When I have sold cars for upto a couple of grand I have asked for cash - mrs taken it straight into the bank, run through their machine all checked and good to go and done the paperwork. They have all been happy enough for it to happen that way while we had a brew and prepped the paperwork anything over was bank transfer as said above both there. As soon as it hit the account I moved it to our attached savings instantly just incase Edited September 6, 2019 by ph5172 Quote Link to comment Share on other sites More sharing options...
marsh man Posted September 6, 2019 Report Share Posted September 6, 2019 2 hours ago, Lloyd90 said: I think I’ll just tell him to bring cash 🤷♂️ The old fashion way is often the best way . Quote Link to comment Share on other sites More sharing options...
Jaymo Posted September 7, 2019 Report Share Posted September 7, 2019 9 hours ago, ph5172 said: When I have sold cars for upto a couple of grand I have asked for cash - mrs taken it straight into the bank, run through their machine all checked and good to go and done the paperwork. They have all been happy enough for it to happen that way while we had a brew and prepped the paperwork anything over was bank transfer as said above both there. As soon as it hit the account I moved it to our attached savings instantly just incase Moving money to a different account wouldn’t stop the Bank refunding if there were a chargeback Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted September 8, 2019 Author Report Share Posted September 8, 2019 On 07/09/2019 at 06:28, Jaymo said: Moving money to a different account wouldn’t stop the Bank refunding if there were a chargeback How is a charge back done? The initial seller didn't message me back when I asked him to deffo confirm as I was having a lot of interest. I told him until money changes hands its still for sale. Bloke and his wife turned up today just now, he showed me the cash in his account on his phone banking, and transferred the money into my account right in front of me. Money showed up instantly into my account. Hope that there isn't any charge back nonsense now but they seemed alright and I have their address etc from the V5 and I noted their driving licence details. Quote Link to comment Share on other sites More sharing options...
dodeer Posted September 8, 2019 Report Share Posted September 8, 2019 Just take a transfer or ask for plain old cash and do what I do and spend £270 on a cash counter machine which detects fakes and does euros also, but some days maybe 60k cash we go through my hands so is worth it for me Quote Link to comment Share on other sites More sharing options...
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