England UK

On Sun, 30 Jan 2005 03:06:58 GMT, Martin Davies wrote:

> "Chris Street" <venus.ngfb@chris-street.demon.co.uk> wrote in message
> news:1c124iv2mc06g.7rqn7xe5ou3k$.dlg@40tude.net...
>> On 29 Jan 2005 15:46:24 -0800, junk1@davidbevan.co.uk wrote:
>>
>>> I am selling my car and was going to accept a cheque/bankers draft,
>>> wait for it to clear and then hand over ownership of the car - But I
>>> now understand that even a cleared cheque can be rejected at a later
>>> date for being a forgery!
>>>
>>> ...I have been told that CHAPS is the only way to 100% securely receive
>>> money. Is this true?
>>>
>>> If so then how do I set up a CHAPS payment? or is it something that the
>>> buyer does and I just hand him my acc num?
>>>
>>> Is the proceedure the same for all banks? I dont want to agree a sale
>>> on my car only to have the buyer pull out as he/she wanted to pay by
>>> cheque and is confused about how to set up a CHAPS payment.
>>>
>>> I had never heard of CHAPS before I started looking into this, do many
>>> people insist on CHAPS for this kind of funds transfer, or will people
>>> think its a bit odd and assume I am scamming them?
>>> Thanks
>>
>> Bankers draft is usually more common and well understood. If the buyer
>> banks at the same bank as you, go to your branch and get him to withdraw
>> the sum in cash, then you can immediatly pay that into your account. Saves
>> bank fees, time to wait for clearance and you are assured you have the
>> money unlike a cheque. However you need to be sure that your branch will
>> hold that much cash on the premises if it's a high value sale and the
>> cashier will ask funny questions if you go over some magic figure (10k I
>> think?)
>>>
>>> David Bevan
>>> http://www.davidbevan.co.uk
>
> If drawing out more than a grand or two, worth ordering it a few days in
> advance. I spent a few months working at lloyds TSB and someone taking 40%
> of our notes on hand was a nightmare.

Yes but they are going to pay it straight back in again, just to the other
guys account so that's not a real problem. There does have to be enough
physical cash on the premesis though for it to work AIUI
>
> Martin <><