Paying for a new (used) car
Discussion
Last Monday I went to look at a car and paid a £500 deposit by bank transfer.
Tomorrow I'm going to collect it and will need to pay the balance however my bank's web site says there's a maximum amount that can be paid by bank transfer and I need to pay several times more than that.
When I called their helpline the adviser 'thought' I could overcome the maximum limit by logging in with their phone app's PIN Sentry rather than my five-digit number.
Can anyone verify that this advice is correct? The bank is Barclays and my nearest convenient branch is now a 30 mile round trip away.
Tomorrow I'm going to collect it and will need to pay the balance however my bank's web site says there's a maximum amount that can be paid by bank transfer and I need to pay several times more than that.
When I called their helpline the adviser 'thought' I could overcome the maximum limit by logging in with their phone app's PIN Sentry rather than my five-digit number.
Can anyone verify that this advice is correct? The bank is Barclays and my nearest convenient branch is now a 30 mile round trip away.
Your bank is going to be the best for getting a definitive answer here, regardless of what any of us may say it isn't going to change the whether or not your card works today.
A few years ago I needed to pay £17k to a BMW dealership, Natwest declined my card payment so I jumped on the app and transferred the funds to HSBC, then used contactless/Apple Pay to pay from the HSBC account - This was done within a few mins whilst I was on hold to Natwest waiting for an advisor.
The amount you're dealing with is going to make a difference, I believe for bank transfers this is practically set in stone and has a delay for any changes to limit, normally at around £10k/day for most standard accounts.
A few years ago I needed to pay £17k to a BMW dealership, Natwest declined my card payment so I jumped on the app and transferred the funds to HSBC, then used contactless/Apple Pay to pay from the HSBC account - This was done within a few mins whilst I was on hold to Natwest waiting for an advisor.
The amount you're dealing with is going to make a difference, I believe for bank transfers this is practically set in stone and has a delay for any changes to limit, normally at around £10k/day for most standard accounts.
J1990 said:
Your bank is going to be the best for getting a definitive answer here, regardless of what any of us may say it isn't going to change the whether or not your card works today.
A few years ago I needed to pay £17k to a BMW dealership, Natwest declined my card payment so I jumped on the app and transferred the funds to HSBC, then used contactless/Apple Pay to pay from the HSBC account - This was done within a few mins whilst I was on hold to Natwest waiting for an advisor.
The amount you're dealing with is going to make a difference, I believe for bank transfers this is practically set in stone and has a delay for any changes to limit, normally at around £10k/day for most standard accounts.
I used my Nat West card to pay £19k for a car recently with no issues. The next day it got queried for spending £4 though. Definitely worth a call to your bank to forewarn them though. A few years ago I needed to pay £17k to a BMW dealership, Natwest declined my card payment so I jumped on the app and transferred the funds to HSBC, then used contactless/Apple Pay to pay from the HSBC account - This was done within a few mins whilst I was on hold to Natwest waiting for an advisor.
The amount you're dealing with is going to make a difference, I believe for bank transfers this is practically set in stone and has a delay for any changes to limit, normally at around £10k/day for most standard accounts.
I paid £15k on my Nationwide debit card to a BMW dealer last year with no issues.
I phoned them the day before to let them know and they said it would not be a problem. The lady I spoke to said she would put a "note" on my account in case there was an issue but it all went through ok.
I also had £7k transferred into my account the day before from the sale of a car so I was a bit worried they might think I was up to no good.
I phoned them the day before to let them know and they said it would not be a problem. The lady I spoke to said she would put a "note" on my account in case there was an issue but it all went through ok.
I also had £7k transferred into my account the day before from the sale of a car so I was a bit worried they might think I was up to no good.
After logging in to Barclays on-line banking this morning I was advised that support for my question was only available via chat in their phone app. I eventually discovered that as a personal banker I can pay up £10,000 by bank transfer to an existing payee - fortunately I transferred the deposit via the app.
I've taken a photo of that page, just in case.
I've been with Barclays all my working life and even have shares in them but they are a total PITA when it comes to customer service.
I've taken a photo of that page, just in case.
I've been with Barclays all my working life and even have shares in them but they are a total PITA when it comes to customer service.
Perhaps Barclays are different?I bought my campervan which was over the limit. I phoned my bank (Halifax) and did an authorisation over the phone. I was sat in the dealers office for about 20 minutes on the phone in total but all went through fine.
Edited to add this was a debit card. You can also phone up the bank in advance to let them know that you're making a large transaction so there won't be hold ups in the dealer like I had. (£54k transaction)
Edited to add this was a debit card. You can also phone up the bank in advance to let them know that you're making a large transaction so there won't be hold ups in the dealer like I had. (£54k transaction)
Edited by toon10 on Monday 22 August 14:37
Riley Blue said:
Not now a problem (hopefully) as I only need to pay £8,000 or so.
When you were so vague with details in your first post I thought it was going to be something you didn't want to disclose that was for an eye-bleeding amount. £8k for a fiesta seems like a very normal transfaction. How disappointing for us... At least it should be a simple payment for you though.J1990 said:
Riley Blue said:
Not now a problem (hopefully) as I only need to pay £8,000 or so.
When you were so vague with details in your first post I thought it was going to be something you didn't want to disclose that was for an eye-bleeding amount. £8k for a fiesta seems like a very normal transfaction. How disappointing for us... At least it should be a simple payment for you though.Riley Blue said:
It didn't seem relevant to my question. It still isn't, sorry to disappoint.
Value is certainly important, you talked about a cap on bank transfer but didn't note the value for people to be able to advise of alternatives... If it was £220k for a GT4 then the debit card might be a struggle, depending on provider. At sub-£10k you're pretty much fine with any debit card provider.Gassing Station | Car Buying | Top of Page | What's New | My Stuff