corsasport.co.uk
  Not logged in [Login - Register]  
You Are Not Registered Or Not Logged In  

Corsa Sport » Message Board » Off Day » bankers draft - need quick advice


New Topic
New Poll 		  Subscribe | Add to Favourites

You are not logged in and may not post or reply to messages. Please log in or create a new account or mail us about fixing an existing one - register@corsasport.co.uk

There are also many more features available when you are logged in such as private messages, buddy list, location services, post search and more.


Author bankers draft - need quick advice
Johnyboy18
Member
Registered: 17th Feb 04
Location: Chelmsford Drives: ibiza cupra
User status: Offline
28th Jul 06 at 11:15   View User's Profile U2U Member Reply With Quote
The buyer of my car is coming round to buy the car soon using bankers draft, is there any precautions i should take i.e. ringing his bank and checking the funds are there? need some advice, thanks John
Dave A
USER UNDER INVESTIGATION - DO NOT TRADE

Registered: 10th Dec 03
Location: County Durham
User status: Offline
28th Jul 06 at 11:17   View User's Profile U2U Member Reply With Quote
make sure its a genuine draft. ring the bank and give them the draft number.

there are lots of very good fakes about!
R16AN H
Member
Registered: 26th Jun 05
Location: Coventry
User status: Offline
28th Jul 06 at 11:17   View User's Profile U2U Member Reply With Quote
cash it mate before you hand the keys over, the drafts can be fake, seen a few people done by them. i would cash it anyway, just to make sure.
Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
28th Jul 06 at 11:17   View User's Profile U2U Member Reply With Quote
a bankers draft is a cheque written by the bank itself so the funds will deffo be there

They will of taken the funds from the person who the cheque was written on behalf of before the manager even signed it

Aslong as its not a stolen one which i doubt very much it is probably the most safest form of money transaction
ed
Member
Registered: 10th Sep 03
User status: Offline
28th Jul 06 at 11:19   View User's Profile U2U Member Reply With Quote
All you need to do with a draft is phone the bank and get them to verify it is real before handing the keys over. The rest is as Kerry said, no chance of the money not being there...
Johnyboy18
Member
Registered: 17th Feb 04
Location: Chelmsford Drives: ibiza cupra
User status: Offline
28th Jul 06 at 11:22   View User's Profile U2U Member Reply With Quote
so ring his bank and check then yes? using the bankers draft number. thanks for the quick advice people.
ed
Member
Registered: 10th Sep 03
User status: Offline
28th Jul 06 at 11:24   View User's Profile U2U Member Reply With Quote
Yep

There should be a number to call on the draft of the issuing bank along with the actual draft number.
Baskey
Member
Registered: 31st May 06
User status: Offline
28th Jul 06 at 11:26   View User's Profile U2U Member Reply With Quote
Right a bankers draft can not be stopped so say if someone gave you a cheque they could cancelle it the next day and you would get the money, this is NOT the case with a bankers draft., it is as good as cash.

Dependant on the bank you can also call the bank the bankers draft came from. Most banks will be able to confirm the date the bankers draft was presented to the customer, you can tally this up with the date on the bankers draft.

Also make sure you are named as the payee on the bankers draft, The bankers draft will take about 3 days to clear in your account.

If you have no expereance of bankers drafts (ie being able to spot a fake) do Not take one.

I work for a bank and personally would not swap my car for a bankers draft. Nothing wrong with cash, or they can waite a few days for a cheque to clear.
Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
28th Jul 06 at 11:35   View User's Profile U2U Member Reply With Quote
cash can be fake too
Johnyboy18
Member
Registered: 17th Feb 04
Location: Chelmsford Drives: ibiza cupra
User status: Offline
28th Jul 06 at 11:36   View User's Profile U2U Member Reply With Quote
ok thanks people , i thought bankers draft cleared instantly up the bank
Baskey
Member
Registered: 31st May 06
User status: Offline
28th Jul 06 at 11:38   View User's Profile U2U Member Reply With Quote
^^^ and me and i work for a bank, checked with my boss and she said can take up to 3 days to clear although you can pay to have it cleared on the same day (cost about £30) , and Kerry true cash can be fake as with dump valves, rear disks, tities etc lol
Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
28th Jul 06 at 11:40   View User's Profile U2U Member Reply With Quote
If you have an account with the same bank the cheque is written from you may be able to draw the same day at the banks discretion
mav
Member
Registered: 19th Jun 01
Location: Scotland
User status: Offline
28th Jul 06 at 11:42   View User's Profile U2U Member Reply With Quote
few days to clear, i had bankers draft from someone before and although it's guarenteed funds still has to clear for some reason.
Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
28th Jul 06 at 11:43   View User's Profile U2U Member Reply With Quote
i know its not always the case for 3 days because i had a cheque from tesco insurance and i bank with natwest and i was able to draw on the funds the moment it was paid in due to all being owned by RBS
mav
Member
Registered: 19th Jun 01
Location: Scotland
User status: Offline
28th Jul 06 at 11:54   View User's Profile U2U Member Reply With Quote
I got a halifax draft and paid it into my halifax account and took 3 days I ws mad like.
Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
28th Jul 06 at 11:55   View User's Profile U2U Member Reply With Quote
like i said banks discretion

helped i work for RBS anyway

never hurts to ask
Ant
Member
Registered: 12th May 02
Location: Hereford and Worcester
User status: Offline
28th Jul 06 at 15:47   View User's Profile U2U Member Reply With Quote
Friend has his golf bought with a dodgy bankers draft, cost him 7k as insurance deemed it as fraud which he was not covered for. The golf was never recovered
ed
Member
Registered: 10th Sep 03
User status: Offline
28th Jul 06 at 17:13   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by mav
few days to clear, i had bankers draft from someone before and although it's guarenteed funds still has to clear for some reason.
Banks like to sit on money as it earns them interest

 
New Topic
New Poll

Corsa Sport » Message Board » Off Day » bankers draft - need quick advice 24 database queries in 0.0114000 seconds