Nearly S**t myself after making a bank transfer !!!

[C250BLUE]

I made a large bank transfer payment yesterday toward a car I'm buying. I was 100% sure at the time when I made the payment was to the correct sort code and account number which was presented to me by the dealership.

Late last night I thought to myself let me just check the payment again and make sure the correct account details were used, after cross referencing the payment I made against the dealership account details, last two digit of the sort code did not match. I was on the phone to my bank straight away at around 11pm last night telling them I might of accidentally entered the last two digit of the sort code incorrectly.

Bank response was we will investigate and come back to you within two working days but there is no guarantee the money can be returned . This is when I had the sick sinking feeling that I might of given away nearly £15k to someone I didn't know. The whole night I was up stressing about the possibility.

I rang the dealership first thing this morning and asked to be put through to their accounts department so I can check with them to see if the money hit there account, (at this point I didn't have much hope tbh) but to my amazement they confirmed they have received the money and it cleared in there account yesterday.

It appears when I made the transfer it was made to their old account but then it automatically got redirected to the correct account.

The whole point of this post is I learnt a big lesson here:

With all future bank transfers, I will make a small token payment, once that clears I will send the rest over.

The past month has been so stressful, I think buying a car is more stressful then buying a house.

 

[flowrider]

Are you saying that the dealers new account has the same account number as the old account but at a different bank? I think you got lucky there.

 

[markjay]

You can also take a screenshot of the payment confirmation page (once made), so that you have proof to which account you made the transfer....

 

[C250BLUE]

Are you saying that the dealers new account has the same account number as the old account but at a different bank? I think you got lucky there.

The dealer new account details was, the account number was unchanged, but the last two digits of the sort code was different.Good thing was I bank with the same bank the dealer banks with.

I was a very lucky boy!

 

[E53AMG]

Your electronic banking app should check the sort code and show you where the funds are being transferred before you make the payment..

Sent from my SM-G955F using Tapatalk

 

[Smart320]

I made a large bank transfer payment yesterday toward a car I'm buying. I was 100% sure at the time when I made the payment was to the correct sort code and account number which was presented to me by the dealership.

Late last night I thought to myself let me just check the payment again and make sure the correct account details were used, after cross referencing the payment I made against the dealership account details, last two digit of the sort code did not match. I was on the phone to my bank straight away at around 11pm last night telling them I might of accidentally entered the last two digit of the sort code incorrectly.

Bank response was we will investigate and come back to you within two working days but there is no guarantee the money can be returned . This is when I had the sick sinking feeling that I might of given away nearly £15k to someone I didn't know. The whole night I was up stressing about the possibility.

I rang the dealership first thing this morning and asked to be put through to their accounts department so I can check with them to see if the money hit there account, (at this point I didn't have much hope tbh) but to my amazement they confirmed they have received the money and it cleared in there account yesterday.

It appears when I made the transfer it was made to their old account but then it automatically got redirected to the correct account.

The whole point of this post is I learnt a big lesson here:

With all future bank transfers, I will make a small token payment, once that clears I will send the rest over.

The past month has been so stressful, I think buying a car is more stressful then buying a house.

I did send a token £10 to the dealers account and got them to email they had received it before I sent the other £25 k , I was like you paranoid, but before I sent the Cash! Glad it worked out ok, cannot imagine how stressful it must have been

 

[clk320x]

I did send a token £10 to the dealers account and got them to email they had received it before I sent the other £25 k , I was like you paranoid, but before I sent the Cash! Glad it worked out ok, cannot imagine how stressful it must have been

So was the car £25010 or did you send the dealership £10 for free?

 

[Smart320]

Actually it was £24995 plus road tax so it was well over £ 25 k ! I sent the balance of the purchase price after deducting the £10 ! I don't get as fussed as you obviously do about the last few pounds but I did worry about £25 k plus going astray.

 

[clk320x]

! I don't get as fussed as you obviously do about the last few pounds

I wasn’t being serious, surprised they wouldn’t throw in a deduction for 6 months worth of road tax when making a 25k purchase, perhaps you could have negotiated who knows.

 

[Smart320]

Got 65 litres of Petrol FOC . Traded a small cash discount for a complete respray of the rear bumper ( off the car ) to eliminate a few small paint chips where car had been touching the rear wall of previous owners garage. They did an exceptionally good job in matching the paint.
Was happy with the deal as it was the only used SLK 55 for sale at a MB dealer that I could afford!
Now I have it I am even more delighted with it.

 

[clk320x]

Got 65 litres of Petrol FOC . Traded a small cash discount for a complete respray of the rear bumper ( off the car ) to eliminate a few small paint chips where car had been touching the rear wall of previous owners garage. They did an exceptionally good job in matching the paint.
Was happy with the deal as it was the only used SLK 55 for sale at a MB dealer that I could afford!
Now I have it I am even more delighted with it.

Sounds good mate! I bet those 65 litres of fuel didn’t last very long enjoy!

 

[Will]

I found it a little easier just to pay by debit card when I bought my last car from a garage.

Chip and PIN, zero hassle

 

[Smart320]

Amazingly the car usually delivers over 30 mpg on A roads / motorways at a fast pace but using the Eco mode ( usually in 4 cylinder mode while on light throttle ). Using sport mode and plenty of throttle it is still averaging about 25 mph on a fast run. I don't watch the fuel gauge but am very pleasantly surprised how many miles per tankful

 

[kianok]

I found it a little easier just to pay by debit card when I bought my last car from a garage.

Chip and PIN, zero hassle

Not sure you can do that now.

Most I could pay with a debit card was 2k, the rest had to be paid via bank transfer.

 

[E53AMG]

I tried to buy a new Jag S type with my Amex, got told the dealership couldn't afford the charge and ended up having to do a bank transfer, pity was looking forward to the air miles [emoji16]

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[elan362]

Not sure you can do that now.

Most I could pay with a debit card was 2k, the rest had to be paid via bank transfer.

I paid £23k on my chip & PIN debit card a couple of weeks ago for the balance is my car

When I paid £50k for our campervan to a German dealer a few years ago, I had to pay by bank transfer, so I sent a small payment first. Confirmed they received it then used the saved details to make the big payment.

 

[Will]

Not sure you can do that now.

Most I could pay with a debit card was 2k, the rest had to be paid via bank transfer.

It was less than a year ago, not aware of any change.

I asked the garage what payment method they preferred (BT/debit card) and they said debit card was easier as they didn’t have to wait and then confirm receipt as they would for a bank transfer - whereas with debit card it’s processed pretty much instantly and they didn’t have to manually check.

It was a five figure amount, no idea if there’s any limit for debit card payments but I had no hassles whatsoever in that regard.

 

[st13phil]

Not sure you can do that now.

Most I could pay with a debit card was 2k, the rest had to be paid via bank transfer.

Yes, you can.

Dealers normally have a policy of the maximum payment they will accept on a credit card being £1k or £2k so as to limit their exposure to the card issuer's commission charges, but I've never had a limit imposed on a debit card transaction which has a fixed fee per transaction commission structure.

I've already checked with the dealer that when I collect my new bike tomorrow they will accept payment by debit card, and that transaction will be north of £20k...

 

[clk320x]

I've already checked with the dealer that when I collect my new bike tomorrow they will accept payment by debit card, and that transaction will be north of £20k...

Pics when collected

 

[PaulXC]

I did £30K on my debit card for our new car - I phoned my bank first and they gave me a 30 minute window to do the transfer in. That way it would be auto approved by the bank and instantly cleared to the dealer.

When doing larger bank transfers I always do a small payment first and then get the seller to confirm how much the payment is and what reference I have have put on it. That way I know for sure its gone to the right place before I send the balance.