Large sums of cash
Discussion
When I sold my bike I took cash (£2300 IIRC) and checked a few of the notes before accepting it. I went to the bank later that day to pay it into my account and they just stuck the notes onto a counting machine and paid them into my account. Didn't notice them checking the notes at all!
Can't you get special pens that don't show up on real cash? Just draw a line through each note.
Or when you get the cash, ask the guy to hold on whilst you scan the notes through some special bank scanner, and if he scarpers, its fake cash.
Mind you, every time I've paid cash into a bank or bought goods they never check it, so might not be a problem if it is dodgy...
Or when you get the cash, ask the guy to hold on whilst you scan the notes through some special bank scanner, and if he scarpers, its fake cash.
Mind you, every time I've paid cash into a bank or bought goods they never check it, so might not be a problem if it is dodgy...
kerfuffle said:
Get him to wire the money mate - don't hand over the keys until your bank tells you the money is in your account.
Yeah but then how's he to know that you're not a rogue? Would you send £Kloads to someone you don't know?
When I sold a car to someone I wasn't sure about, we went down to the bank and paid it in there and then.
There is absolutely only one way I would sell a privately these days.
Buyer orders cash from his bank, you go with him to bank as he withdraws it over the counter.
Walk round the corner and hand over the money to your bank.
Once that is handed over, give him the keys.
That is pretty much failsafe, the money gets issued and counted by one bank then checked and counted by another a few minutes later.
Buyer orders cash from his bank, you go with him to bank as he withdraws it over the counter.
Walk round the corner and hand over the money to your bank.
Once that is handed over, give him the keys.
That is pretty much failsafe, the money gets issued and counted by one bank then checked and counted by another a few minutes later.
simpo two said:
Get him to wire the money mate - don't hand over the keys until your bank tells you the money is in your account.
Yeah but then how's he to know that you're not a rogue? Would you send £Kloads to someone you don't know?
When I sold a car to someone I wasn't sure about, we went down to the bank and paid it in there and then.
This was how I sold my last car, and bought the next one. Check absolutely everything, buyer calls the bank and sends money, seller calls bank 20 minutes later to confirm the funds are there. Job done.
Muncher said:Unless buyer has burly mates waiting between the two banks who relieve you of cash and keys...
There is absolutely only one way I would sell a privately these days.
Buyer orders cash from his bank, you go with him to bank as he withdraws it over the counter.
Walk round the corner and hand over the money to your bank.
Once that is handed over, give him the keys.
That is pretty much failsafe, the money gets issued and counted by one bank then checked and counted by another a few minutes later.
>> Edited by tomtom on Thursday 3rd November 16:27
kerfuffle said:
Get him to wire the money mate - don't hand over the keys until your bank tells you the money is in your account.
Yeah but then how's he to know that you're not a rogue? Would you send £Kloads to someone you don't know?
When I sold a car to someone I wasn't sure about, we went down to the bank and paid it in there and then.
This was how I sold my last car, and bought the next one. Check absolutely everything, buyer calls the bank and sends money, seller calls bank 20 minutes later to confirm the funds are there. Job done.
Unfortunately the sending bank can recall the cash from your account later that day and even up to two days later when a payment has been made in error. You'll have no cash and no car - however you will have some way to trace the buyer through his account.
Last time I did this, I presented a cheque for cash at my bank at the same time as the seller presented a paying in slip for the same amount, again as cash. The cash never actually existed. The bank then gave us print outs of our balances afterwards. Job done. Much easier if you are both with the same bank though.
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