Purchasing a car on a saturday

[Rags]

Morning,

I am buying a car tomorrow which happens to be a saturday.

The car is of decent value and I want to drive the car away once the funds have been received by the seller.

The main issue is that I will need to transfer a large chunk of money from my account to his. We both bank with barclays.

Would an internal bank transfer work or would it need to be CHAPS?

In addition, can CHAPS payments be performed on a saturday?

Many Thanks

R

[Alfa numeric]

Funily enough I'm in the same situation. I'm paying by Switch as it's instant and the dealer only pays a few pence for the transaction.

I'm not sure if there's an upper limit but years ago I bought a car for £14k and it took two transactions.

[rfn]

Both go to the bank - Barclays can do an instant transfer and they'll show you the funds have been transferred.

Did this when I sold my Mondeo a couple of years back.

[eltax91]

Last time I did this - the seller watched me transfer from my account to his, on a PC in his front room. He was happy that the transfer would go through and my bank's online system stated "you cannot reverse this transaction". So the deal was done and I got the keys.

[jomcvelia]

Saturday is not a clearing day even for CHAPS payment...As long as the seller is OK with this.

[ARH]

Pay by debit card if he will take it, or barclays instant transfer also works well. I have used both. both instant.

[was8v]

rfn said:

Both go to the bank - Barclays can do an instant transfer and they'll show you the funds have been transferred.

Did this when I sold my Mondeo a couple of years back.

This - complete the docs and take the keys whilst in the branch too

[toast boy]

Can you not just complete an Internet banking transfer or am I missing something?

[hornetrider]

Rags said:

Morning,

I am buying a car tomorrow which happens to be a saturday.

The car is of decent value and I want to drive the car away once the funds have been received by the seller.

The main issue is that I will need to transfer a large chunk of money from my account to his. We both bank with barclays.

Would an internal bank transfer work or would it need to be CHAPS?

In addition, can CHAPS payments be performed on a saturday?

Many Thanks

R

What was Barclays response when you asked them?

[skene]

Alfa numeric said:

Funily enough I'm in the same situation. I'm paying by Switch as it's instant and the dealer only pays a few pence for the transaction.

I'm not sure if there's an upper limit but years ago I bought a car for £14k and it took two transactions.

You should be ok doing it in one go, my mate just bought a Corsa VXR on his card and showed us the receipt of £13695.

[Rags]

I have spoken to a call centre person who has stated I can transfer funds even on a saturday without the use of CHAPS

I then popped into my local branch and they said that depending upon the type of branch where the transaction will take place they may or may not be able to complete the CHAPS transfer.


I then checked the Barclays website and they state CHAPS can occur on working days but then they mention interbank transfers and fast payments- which both the seller and I can benefit from.

Hence my questions to a set of folk who have potentially been in a similar situation!

[Torquey]

I'm sure a quick phone call to Barclays would answer this question far better than an internet forum...

[hornetrider]

skene said:

Alfa numeric said:

Funily enough I'm in the same situation. I'm paying by Switch as it's instant and the dealer only pays a few pence for the transaction.

I'm not sure if there's an upper limit but years ago I bought a car for £14k and it took two transactions.

You should be ok doing it in one go, my mate just bought a Corsa VXR on his card and showed us the receipt of £13695.

Apart from the fact that Switch no longer exists, of course

[Alfa numeric]

hornetrider said:

Apart from the fact that Switch no longer exists, of course

It's morning, it's Friday, and the coffee's not kicked in yet...

[V88Dicky]

Give your bank a call today, let them know that a large withdrawal will be made from your debit card tomorrow and use that. Worked for me on a Sunday!

[williaa68]

You cant do a CHAPS on a Saturday but you can do a "Faster Transfer", which is same day, less than £10,000 (I think that is the Barclays limit). However, Barlcays to Barclays should be possible for any amount.

[L100NYY]

V88Dicky said:

Give your bank a call today, let them know that a large withdrawal will be made from your debit card tomorrow and use that. Worked for me on a Sunday!

I'm guessing it's a private sale by the sound of things hence why he hasn't mentioned card payments at all.

[king arthur]

If you have online banking, it's instant between Barclays accounts.

[was8v]

Rags said:

I have spoken to a call centre person who has stated I can transfer funds even on a saturday without the use of CHAPS

I then popped into my local branch and they said that depending upon the type of branch where the transaction will take place they may or may not be able to complete the CHAPS transfer.


I then checked the Barclays website and they state CHAPS can occur on working days but then they mention interbank transfers and fast payments- which both the seller and I can benefit from.

Hence my questions to a set of folk who have potentially been in a similar situation!

If you both go in the branch they do a "cash" transfer, i.e. withdraw the cash from your account and then pay it into the sellers account.

Its like paying with cash only no-one has to count any!

[V88Dicky]

L100NYY said:

V88Dicky said:

Give your bank a call today, let them know that a large withdrawal will be made from your debit card tomorrow and use that. Worked for me on a Sunday!

I'm guessing it's a private sale by the sound of things hence why he hasn't mentioned card payments at all.

You know, you could be right. Oh well!