TIFF

Sold the Range Rover and the guy is going to sort out a bankers draft to bring with him when he picks it up.......

Whats the crack with them...as good as money??????

Mr S1

iTrader: (2)

Technically yes....................but get it checked and verified by YOUR bank first if I were you...............

Disabled Account

NO, wait for it to clear!

It is possible for the bloke to phone up the issuing bank/building society and claim that it was stolen from him - they will then NOT honour the draft!

Big G

You have got to have the money in your account before the bank will issue a draft

ie
Tiffnee wants to buy a Shonky Blue Mundano for £10k
Tiffnee goes the bank and asks for a draft of £10k
If Tiffnee has £10k in the bank he gets the draft and the £10k is taken out of his account and held on the piece of paper that is the draft.

But IMO, i wouldnt let the Tractor go until the cash appears in your account as there has been times when Drafts have been forged

Cam

if your bank uses a 3rd party clearing house it will take as long as a regular cheque to clear so tread very carefully

Fil

used to be the done/best thing, before they started producing fakes

I'd pop into you bank with it and get it checked over and pay it into your acount beforehanding over any keys/logbook!

Mr S1

iTrader: (2)

Which is why I said get it verified by YOUR bank first. They can call the issuing bank and confirm it's authenticity.

Disabled Account

The scam I mentioned above will only work with an authentic draft!

So checking it's authenticity is not going to help

rizla

iTrader: (1)

Could he have not took the cash out and done it that way

Staffi

iTrader: (1)

Tiff, when i sold my 22b, the guy pated with a draft, i wasn`t to sure about this so i asked him if he would come to my bank so they can verify its genuine, all was fine so if you can mate, if there is a branch, or post office close, ask the guy if he doesn`t mind getting it checked out, if he says no, KNOCK HIM OUT.

Anonymous

I just paid for a car with a draft and the dealer photocopyed it and checked it al out before i could take the car hope that helps

TIFF

The guy owns his own transport company in Shropshire and he has said that he will give all the paperwork and infomation when he comes back.

He will sort out a draft and get it all ready when he has sorted the funds out with his bank.

He is ringing me tomorrow to let me know whats going on.

TIFF

Nige

Do you know how he checked it out???

Is there a number to call ????

gurnE

In opening hours phone the issuing branch

Anonymous

LOL i havent a clue mate id expect as said above he took it to his bank to make sure of the numbers on the cheq i spose and that it was legit?

ryan_belfast

I got a bankers draft for my escort and had no problems.

Staffi

iTrader: (1)

So what you spending it on chap? 3 door

TIFF

Cant say

ryan_belfast

with the way he is breading he needs a mansion

TIFF

Dirty Harry

iTrader: (12)

There was a scam a few years ago with forged drafts a mate of mine got caught with one and funny enough that was a range rover after a lot of time he got the car back as the guy who scammed him sold it for cash the same day to another dealer at a very cheap price
anyway the best way to check a drfat is ask the guy for the address of his bank who has issued the cheque and then call them to make sure there has been a cheque issued to you,but by far the best way is to be paid in cash but failing that a BACS tranfers straight into his account into yours i did that the other month when i bought another house
simple

TIFF

Pete

How do you go about the bank transfer thing......Will he need my bank details and if so....what can he get with them..Ie, Can he get into my account??

jasonp

Mark you can cancel a bankers draft anytime until the bank closes,eg 5.30 so i wouldnt let the car go anywhere after that time.Even the bank say it is legit he can still cancel at 5.29.My other halfs old man nearly got taken for 20k but the guys flight was late to pick the car up and we found out other halfs dads bank manager phoned him on his mobile and said he had cancelled the draft which you can do legally..!!! Bax is the only way money can transfer instantly these days.

Dirty Harry

iTrader: (12)

Just give the guy your bank details
address
sort code
account number
job done he cant do anything with the deatils apart from pay money into it,he will go into his bank and ask them to transfer thr money direct into yours,you then call your bank and they will confirm the payment is in,job done,Iam actually doing the same thing tommorrow,paying money into someone account

Disabled Account

Spot on Jason

The scam above could be done late on a Friday afternoon, so a car can be purchased over the weekend with the now VOID draft used as "payment"......

......and of course you take the draft to you bank on Monday and find out on Tuesday/Wednesday that it was cancelled.

TIFF

Pete

So they cannot access any other part of your account with that infomation???????

Cheers for the info

Dirty Harry

iTrader: (12)

they cant do jack shit with the details,whats up scared someone may see your millions well your are a plumber after all(sucking through my teeth "that el cost you luv"

jasonp

at plumber school they teach you hourly rates start at 50 and never weekends for under 200

TIFF

I dont mind them seeing it....i just dont want the fookers stealing it

TIFF

That must of been one of them cheap schools then Jas

TIFF

Cheers Pete

I will ring him then and get him to do that i think

woodz77

i sold my M3 and the geezer paid with a draft. i just rung the issueing bank and verified it. once the bank has issued the draft the blokes account gets debited by the amount immediatly so it cant bounce . also he bloke cant ring up and cancel it as i thought this aswell and asked the bank. the only way it can be cancelled is if the bloke takes it back to the branch. no draft = no refund. i asked what if he lost it and the bank said its a very long winded motion to cancel it cos they check everything and everywhere to see if its been cashed . they reckon he woul;d have to wait at least a month . i was worried about taking one but after speaking to the issueing bank id always take one !!!!

S3an

the only safe way is to do a CHAPS authority transfer, done one today to buy my new house, transferred the money from my account to their solicitors. cost of £25. the solicitors bankers would accept a bankers draught but was told it would take 5 days for the money to come through. so contracts wouldnt get signed to next week.

TIFF

Woodz

So you would have no problem taking one then

woodz77

yeah defo mate. when the bloke said he wanted to pay with one and come on sunday , i thought he could turn up and take the car and then ring up and cancel it before i get to the bank on monday morning so i was a bit worried cos i thought this was possible. but when i rung the bank they told me there is no way of cancelling with out the draft and also i worried incase he spent the money since the draft was issued but again they take the money out before he would have had a chance to step outside the bank so as long as its real there is no probs !!!! i would just ring the bank and read them the numbers of the draft and then theres no probs. still took five days for mine to clear !!! was only £5000 tho....

Damo V

When I bought my car I paid some cash some draft...

The bloke who I was buying it from had VERY nearly been scammed years back with a draft, so he asked if he could come with me to the bank to pick up the "pre-ordered" draft at his nearest branch of my bank... we then walked round the corner to his bank where he dropped the cash and draft in .. job done!!

Eagle

iTrader: (2)

used to work in brown goods .. were always told to ring the issuing bank to see if its real or not ... if it seemed dodgy in any way we asked for a covering letter from his bank . but then when you are paying 2k for a bit of stereo kit its not a real hassle to get one ...

SteveB

iTrader: (3)

I had a mate about 5 years ago sell a Hoinda NXS for £21,500, the guy paid him at 9pm when he couldn't check the draft was genuine...... you've guessed it it was a fake and he lost the money and the car was never recovered

fordsportjay

iTrader: (6)

i sold my range rover to a guy who paid by draft.i took it to the bank to see if it would be clear immediately but it took 7 days to clear-i didnt release the car until it had cleared in my account-you can never be too careful nowadays. and the draft was from the same bank i bank with!