Are Bank Drafts Ok Now - Anything To Look For ?

[DSLiverpool]

Well The SL has got a deposit on it and Ive also sold my beloved pinball (new one on the way though) - the pin is a cash deal but the SL will be by bank draft.

I havent taken a draft for years and I know there were a few scare stories about them so how can I be confident its legit, guy seems very nice and Im 99.99% sure its kosher but any pointers gladly received.

 

[The Boss]

get the details of the branch that issued it, google for the phone number and when he turns up, just give the bank a call and verify the serial number of the cheque.

usually, its all good, or alternatively, pay it in, with his presence, or better still, try and pay it in at the same branch he issued it from if you use the same bank.

i have never had a problem, i have heard scarey stories too, but these lil things will put your mind to bay.

 

[verytalldave]

I would echo what The Boss said. Its easy to get hold of forged cheque and the counterfeiters are so good even an expert hass trouble spotting a bogus cheque.
Always better to be safe than out of pocket. And if the buyer is genuine, then he/she should be OK with it and be willing to co-operate.
Even cash needs to be examined properly nowadays. There is so much scamming going on.

 

[x332race]

get the details of the branch that issued it, google for the phone number and when he turns up, just give the bank a call and verify the serial number of the cheque.

usually, its all good, or alternatively, pay it in, with his presence, or better still, try and pay it in at the same branch he issued it from if you use the same bank.

i have never had a problem, i have heard scarey stories too, but these lil things will put your mind to bay.

Buyer had a draft for a car a couple of years ago...rang the bank to confirm that it had been issued correctly by the bank....all we got to start with was some woman in an Indian call centerer saying"its a bank draft, of course its ok" and refusing to confirm that it had been issued correctly....eventually we got put through to a call centre in Scotland where a very nice lady confirmed that all was ok with the draft....took ages and a lot of persistence.

Buying a car today cash.....seller is insisting that we both go to his bank with the cash and witness it being paid in....

Really you can never be too careful....

 

[speedwell]

Well The SL has got a deposit on it and Ive also sold my beloved pinball (new one on the way though) - the pin is a cash deal but the SL will be by bank draft.

I havent taken a draft for years and I know there were a few scare stories about them so how can I be confident its legit, guy seems very nice and Im 99.99% sure its kosher but any pointers gladly received.

Erm what pins?

(ever since I was a young boy...etc). I used to have a Cyclone (80s classic), and still hanker for another.

I fancied your car btw, it was just tooooo far away, and I have too much going on.

 

[DSLiverpool]

Pinball was Getaway HS2 themed on the film, I have a Twilight Zone being prepared and fancy a family guy as well depends on the deal. I find it hard to believe an SL is worth only a bit more than 2 pinball machines lol

The guy for the SL is coming from Devon buying unseen (he has nothing to worry about)

 

[Mudster]

Maybe it's just me but I'd insist on a bank transfer these days...that's irrefutable and irreversible. Cheques and Drafts are all so outdated, plus I find it outrageous it takes 4 days to clear a bank draft, even by the bank who issues it.

 

[DSLiverpool]

Problem is he doesnt want to do a tranfer before he gets the car or is with me at least and we are in differing banks - is there another way ?

 

[Vlad]

I echo the comments already made....ie when taking a Draft get the customer to supply the telephone number of the branch that issued the draft. Also check independantly that this telephone number is a genuine one and not just his mate on the other end!!!

Then phone them....in my experience the banks are always happy to help.

 

[goldestate]

Have sold Motorhome recently buyers bank (Barclays) would not confirm legitimacy of Draft (I checked before hand) ended up with Bank transfer if he doesn't like that get him to pay money into your Bank with you present, you simply cannot let vehicle leave you without cleared funds, if he doesn't see that then after he has made all necessarry checks as to title and is content and you have inquired of him there is no more you can do reasonably.

 

[Mudster]

Can you check the validity of a bank draft on a Saturday?

 

[Mudster]

Problem is he doesnt want to do a tranfer before he gets the car or is with me at least and we are in differing banks - is there another way ?

Cash, and take it to a bank to have it verified.

 

[goldestate]

Mudster has a point pay it into Bank together smiling at CCTV the old fashioned way as safe as you are going to get

 

[crockers]

If you're after a belts and braces approach ...

1. Don't sell on a weekend - unless you are sure all banks are open - both sellers and buyers.
2. If its a bank draft -check that can be issued by any branch - not necessary the one where the buyer resides.
3. "When you have agreed the sale - both go to the buyers bank / building society - where he can have the draft issued.
4. For the buyer to tell the issuing bank - a few days in advance - that he most likely will be going into branch x for a draft of £x,000 and for it to be ok'd beforehand.

When I sold a car - we both went into the Alliance and Leicester where the buyer got a cheque issued and gave it to me. I knew then it was 100% ok.


Oh and if you want to double sure why not ask for a last photograph of the buyer with his new car.......

 

[w124coupe]

When I sold a car - we both went into the Alliance and Leicester where the buyer got a cheque issued and gave it to me. I knew then it was 100% ok.


That's what I do as well - has to be a draft though - cheques can be stopped or bounce 4 days later.


You can draw a draft from any branch of your bank - they ask for a passport as ID.

 

[crockers]

Sorry I didn't make myself clear - but a Building Society Cheque (often called a Counter Cheque not a personal cheque) is the same as a Bank Draft....once issued can't be stopped...only difference is what they call them..lol

They are larger than personal cheques and have to be signed by a member or staff. So they are cheques issued from the Society to you and not from the saver.

Sorry - symantics...lol

 

[goldestate]

Just make sure its a British Bank to keep your braces up !

 

[DSLiverpool]

He is paying on weds, I have a £250 paypal deposit so far, I will ask for him to get a cheque issued to me when we are together at HSBC (his bank) and the Halifax is next door - that sounds like a plan

Thanks for the input guys - as ever

 

[IanA2]

HSBC need only a few hours notice to issue a draft. He can ask for it to be drawn and ready at a branch of his choice.

So, he arranges for it to be ready at the branch next to yours...you go with him when he picks it up.....Bob's your uncle!!

 

[speedwell]

Pinball was Getaway HS2 themed on the film, I have a Twilight Zone being prepared and fancy a family guy as well depends on the deal. I find it hard to believe an SL is worth only a bit more than 2 pinball machines lol



The guy for the SL is coming from Devon buying unseen (he has nothing to worry about)

*Everyone else ignore me- then this can stay on-topic *

HS II was my favourite pin for a long time. ~The loop accelerator is a very cool toy. TZ is a good choice, and Family Guy is a laugh. A modern pin that's impressed me a lot is Spiderman.




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