chaps
just found out that my 84 yr old mother in law has sold her reasonably new smart car on eBay - the buyer is collecting tomorrow and she has been asked to check with her bank tomorrow that the cash is in her account - its a few grand.
i think the timescale is he sees the car, authorises payment and then leaves with the car when it lands in her account - is there any way for her to get scammed? anyway to recall a payment once its made to her account? anything we should look out for?
not sold car privately before so unsure what to expect. i cant be there although my wife will be.
thanks in advance guys
bacs/chaps payments are hard to recall so should be safe, cant remember which but one is recallable if done b4 4.pm on the day of sending, itsprobably the safest method short of pond notes
dont go near it.. i just had a acs payment for 1150 recalled without my knowledge 3 days after the event..
Ask the buyer what method he will be using. Phone the MIL's bank and ask if recalls are possible (though they probably won't know).
Personally, I wouldn't accept anything other than used twenties.
Cash, accept no substitute.
Thanks guys. - I'm uncomfortable with the deal, esp finding out so late, but given that the guy is arriving by train tomorrow, its going to be hard to hold off - of course, if he has the money to transfer, he can take it out in cash.
Taking out cash with out notice can be a real pain from a bank
Thanks guys. - I'm uncomfortable with the deal, esp finding out so late, but given that the guy is arriving by train tomorrow, its going to be hard to hold off - of course, if he has the money to transfer, he can take it out in cash.
I'm sure he'll understand if you ask for cash or nowt. If he's in a rush, what does that tell you?
There are plentyof other buyers for a Smart Car!
Have you read his feedback, may be a genuine bloke, if he is he'll understand your concerns.
i always meet purchasers in my local cop shop car park in daylight. tends to sort the wheat from the chaff
How much money is involved? Getting a few grand out of a bank branch isn't a big deal (if you have the funds in he first place!)
Paid in cash/sold in cash for all mine. Though had friends who did a bank transfer.
First things first, get their number and call them. Explain your concerns and ask if they are happy/able to do cash - you can both go to the bank with the V5 and keys and do the deal inside.
If cash is not an option then ask about methods of transfer and check with the bank about recall.
Once transfer is made they wait until funds are in place. Suggest a coffee shop they can go to and you will call when funds are cleared.
I'm just impressed your 84yr old MIL can list a car on eBay. Well done her.
bruneep - actually it was her pal who listed it and has conveniently headed off for a week in newcastle - hence me only hearing about it last night.
as a bit of an update, RBS (my bank) have said categorically that an electronic transfer cannot be retrieved or amended once it lands in the target account - thats why there's so much bother if you cock up a digit when sending it.
I'm going to meet the guy anyways - he wants a test drive and theres no way i'm sending a frail 84 yr old out with a complete stranger. once the money lands, that should be it.
