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EEYYBFH



Member Since: 12 Nov 2015
Location: bedford
Posts: 2

United Kingdom 
is bank transfer safe?

hello all,
I am going to sell my RR privately, the guy will have a look the car say he will bank transfer me the money if he decide to buy, may I ask is this safe? if I can check online and see the money arrived, it means it's nothing to worry about? and what I should look out for?

thanks a lot
James

Post #356430 12th Nov 2015 1:15pm
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stan
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England 2012 Range Rover Westminster TDV8 Santorini Black

discussing this with your bank would be the first step.. .






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Post #356431 12th Nov 2015 1:19pm
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EEYYBFH



Member Since: 12 Nov 2015
Location: bedford
Posts: 2

United Kingdom 

different bank will have different results?

Post #356433 12th Nov 2015 1:22pm
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Alistair



Member Since: 11 Feb 2011
Location: Peterborough / Bordeaux / Andorra
Posts: 4806

United Kingdom 2013 Range Rover Vogue SE SDV8 Santorini Black

Thats what I did - he transferred it at my house & then I called my bank to confirm that it had been transferred, was in my account and couldn't be reversed - then I handed over the keys & V5

Make sure it will transfer instantly & you can verify it with your bank Thumbs Up

Post #356435 12th Nov 2015 1:24pm
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Alistair



Member Since: 11 Feb 2011
Location: Peterborough / Bordeaux / Andorra
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United Kingdom 2013 Range Rover Vogue SE SDV8 Santorini Black

and yes - different banks have different standards - so check with yours - and you will also need to know the bank its coming from.

Post #356436 12th Nov 2015 1:25pm
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V8Noise



Member Since: 25 Apr 2015
Location: Maidstone
Posts: 224

United Kingdom 

Certainly, any transfers to Barclays accounts, once they show up, cannot be pulled back.

I bought my FF in August and transferred 13k to the seller whilst sat in his place. He checked on-line and the payment showed up instantly. Job jobbed and away we went.

When I sold the previous car the seller transferred money via his iThingy and again, it arrived instantly. Away he went with my blessing.

Seems so much easier, and safer, these days. No more taking buyer to the bank and watching him pay 15k into the bank in cash. 2006 4.2 S/c
2005 Merc SL350
2012 Dacia Duster Laureate 1.5 DCi
2008 Smart For 2 1.0 Limited 2

Post #356445 12th Nov 2015 1:51pm
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Andy3681



Member Since: 13 Jan 2012
Location: Newcastle under lyme/ Le Dorat Haute Vienne
Posts: 904

United Kingdom 2005 Range Rover Vogue Td6 Cairns Blue

When I sold the Caravan buyer did an instant transfer. Money in the account in a few mins, It's a good system. However I would check with your bank for larger amounts. Mines a blue one! Smile

Post #356453 12th Nov 2015 2:12pm
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Cam-Tech-Craig



Member Since: 04 Aug 2011
Location: Gloucestershire
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England 

Ive done it several times buying cars from dealers etc and seams to be an industry standard... Never had a problem!

Post #356455 12th Nov 2015 2:16pm
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Gazellio @ Prestige Cars
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United Kingdom 2009 Range Rover Autobiography 5.0 V8 Atacama Sand

It's FASTER PAYMENTS and its what I use. If the money is in your account you are OK.

I move it to associated account just to be sure its there!

Gary 
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Last edited by Gazellio @ Prestige Cars on 12th Nov 2015 6:25pm. Edited 1 time in total

Post #356464 12th Nov 2015 2:33pm
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XXXAngelXXX



Member Since: 25 Mar 2007
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Germany 2013 Range Rover Vogue SE 5.0 SC V8 Havana

Took me 5 days to send the money for my new wheels to Craig Sad and yes it was save - not sure about Craig hahaha Laughing Thumbs Up All my spelling errorz are belong to me!

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Post #356479 12th Nov 2015 4:28pm
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Andy B



Member Since: 03 Apr 2012
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England 2010 Range Rover Autobiography 5.0 SC V8 Santorini Black

The Faster Payments Service (FPS) varies from Bank to Bank in terms of response times. My Business Account transfers instantly, as does my Building Society Account, however my main personal Bank Account with a well known high street Bank does not do the transfer until midnight of the day you requested the transfer.

Best check online Thumbs Up Current : 2010 5.0 S/C Autobiography
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Post #356487 12th Nov 2015 5:19pm
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whippetman



Member Since: 14 Sep 2011
Location: Somerset
Posts: 41

" I move it to associated account just to be sure its there! "
Very smart move Sir!🙏

Post #356507 12th Nov 2015 7:09pm
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dand



Member Since: 03 Sep 2014
Location: Wokingham
Posts: 50

United Kingdom 2008 Range Rover Vogue SE TDV8 Barolo Black

FPS can be reversed if the transaction is fraudulent. It's a small risk but it's a risk.

If he brings cash during banking hours and you transfer it into the bank there and then, that's safe but a bit inconvenient carrying around tens of thousands of pounds.

The day after a CHAPS transfer it can't be reversed but there's usually a 30 fee.

Ultimately it comes down to how much you think you can trust the buyer.

Post #356530 12th Nov 2015 8:59pm
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kingpleb



Member Since: 07 Jun 2011
Location: Maybe here. Maybe there, I get everywhere!
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United Kingdom 2005 Range Rover Vogue Td6 Bonatti Grey

All i can say is Cash is King Very Happy

Ive done FPS a few times and as above, moved it into the savings account straight away or transferred to another banks account(diff bank) to ensure it was good. FFRR MY06 facelift With TDV8 Alloys Zeros/ATR's
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Post #356662 13th Nov 2015 1:58pm
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Ivor



Member Since: 26 Jun 2015
Location: Aberdeen
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United Kingdom 2008 Range Rover Vogue TDV8 Java Black

I would trust a bank transfer more than I would someone turning up with a pile of notes in their hand the only real way a transfer goes wrong is when you get the account numbers wrong L322 2008 vogue
R53 Cooper S Works tuned beyond the works SOLD
R33 Nissan Skyline in rebuild 400bhp atw

Post #356716 13th Nov 2015 6:32pm
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