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

[Deletedmember130310]

Bank account numbers are "tied" to a sort code, via a check sum, so it is unlikely to end up in a wrong account (if the account number is correct)

 

[st13phil]

Pics when collected

Will do

 

[190]

I've paid for a car in the past using my bank card but I'm sure it wouldn't work now as I had grief recently just paying for my new kitchen. Banks have tightened up a lot and have algorithms in place to spot unusual payments. If you are routinely spend big sums on a card then maybe it would work.

I have similar concerns about bank transfers even on the annual payments to my grandkids. I make sure my sons haven't changed their bank accounts since last year and still check they have received it.

 

[Deleted member 126969]

I did 4 lots of £10k on the debit card to pay the balance when buying the car. Seemed a pretty painless way to do it, although I did contact the bank beforehand to let them know.

 

[400ixl]

It will work today to get the funds pulled from a debit card rather than pushed via bank transfer. In most cases you will need to speak to the bank first to make them aware and have gone through their security checks. When I did it the other week I had to inform them of the amount and who it was going to. They then locked the card to any other transactions until that one had been completed and then released the lock on the card.

So more hassle, but less chance of the money going astray.

If doing the push bank transfer I will usually if possible do the same as others, small payment to setup and prove the transfer, to then be able to use the same now saved details for the main transfer.

 

[Will]

I did 4 lots of £10k on the debit card to pay the balance when buying the car. Seemed a pretty painless way to do it, although I did contact the bank beforehand to let them know.

Out of interest, what was the reason for the four lots of £10k instead of say two lots of £20k or just one payment?

I’d have thought the four payments coming out would look more suspicious to the anti-fraud/security software/people than one payment!

 

[Deleted member 6183]

I think that dealers have different procedures.

I bought the Mrs a car 2 years ago and had to transfer the funds the day before collection, I wasn't too comfortable at the time but it worked out OK - incidentally, why does handover still take 2 hours?

I bought myself a new car last year and paid by debit card on collection.

It's not about law or regulation, it's simply the dealers preference.

 

[Deletedmember130310]

It's not about law or regulation, it's simply the dealers preference.

Don't you have different rights, eg to reject faulty goods, if you've paid by credit card (and the transaction is >£100)?

 

[Londonscottish]

When I bought my last car the dealer asked me to make a transfer the day before. It was only when I tried that I realised that I'd changed jobs and moved house so I had two new phone numbers I couldn't do the online banking verification thing. And it took several days for new phone numbers to register in their systems. So then I tried telephone banking but they asked me for a PIN or whatever which I of course didn't know - and to get a new one would involve waiting several days for a letter from them to reset it.

I was getting very twitchy as I'd already waited a week for a service, valet and new brakes to be fitted. Plus I had some trips planned and had only a very short runway before staring work again. And I really really really wanted my new car!!

Luckily they were relaxed in the end and let me do the chip and PIN thing on the day.

I presume they ask for cleared funds to minimise problems on the day.

 

[Deleted member 6183]

Don't you have different rights, eg to reject faulty goods, if you've paid by credit card (and the transaction is >£100)?

Sure and deposit can be paid by CC, no dealer will accept full payment by CC, the fees would be significant.

 

[st13phil]

Don't you have different rights, eg to reject faulty goods, if you've paid by credit card (and the transaction is >£100)?

Yes, you do get enhanced rights under section 75 of the Consumer Credit Act if you've paid by credit card if the total value of the transaction (not the same as the amount paid on the credit card) is between £100 and £30k. The credit card companies don't like it and don't publicise it, but your protected rights are the same even if you pay a deposit of, say, £20 on your credit card and the balance by any other means so long as the total transaction value is in the £100 - £30k range.

 

[Deleted member 126969]

Out of interest, what was the reason for the four lots of £10k instead of say two lots of £20k or just one payment?

I’d have thought the four payments coming out would look more suspicious to the anti-fraud/security software/people than one payment!

The bank has a £10k single transaction limit. Not normally a problem for me

 

[TwoDogs80]

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....

My Barclays app you can not do this.

 

[Will]

The bank has a £10k single transaction limit. Not normally a problem for me

Seems strange to impose a £10k limit but then allow multiple transactions of this exact amount anyway? But then I’m not a bank

 

[markjay]

My Barclays app you can not do this.

Take a photo of the screen using another phone

 

[Deleted member 6183]

Seems strange to impose a £10k limit but then allow multiple transactions of this exact amount anyway? But then I’m not a bank

It works to reduce the effect of fraud in some cases, I know of a case from my corporate days where a woman was victim to a scam. She made multiple transfers to the crook's account but because there were several small(ish) transfers the banks were able to recall some of them so all was not lost.

 

[Merc220cls]

I made a boob when purchasing our caravan. When doing the bank transfer I clicked on the wrong box and transferred 9k into our own credit card account.
I noticed my mistake almost immediately but it still took over a week to get the money back into our current account.

 

[Deleted member 6183]

My Barclays app you can not do this.

Your phone might be able to, on android it involves pressing 2 buttons simultaneously.

 

[Deleted member 126969]

Seems strange to impose a £10k limit but then allow multiple transactions of this exact amount anyway? But then I’m not a bank

Doesn’t it just! Perhaps if I hadn’t alerted them beforehand it might not have gone a smoothly?

 

[AMGeed]

I paid cash to a private seller when I bought the E55.
He lived at a very nice house and invited me round the back garden to exchange the money and documents and keys.
It was a hot day and his wife was particularly attractive laid out on a sunbed in a bikini on their decking.
I found it hard to divert my eyes away when she was given the job of checking the cash.

OP, I can well imagine the cold sweat and fear you felt thinking the money was lost forever. Lesson learned, send a small amount first or pay by Debit card.
Enjoy your new car