Bankers draft

wattapain

Hi - not sure if this is the right place for this, but I have a question re the above.
It's a long story, but basically, we're selling our motorhome, and we have some people coming to view soon.
They seem very keen, and as they are coming from quite a distance, if the 'van suits them, they are keen to complet on the day.
We're talking a lot of money here, so cash is obviously not possible.
They have therefore suggested a bankers draft or a bank transfer as the way to go, but my question is this.
We obviously won't let it go till we see the money in our account, so is the draft immediate?
i know a transfer will take a few days, but don't know about the draft.
Any help anyone?
Terri

opinions4u

A draft won't clear immediately.

I'd give them a lift to their local bank branch and suggest that they organise a CHAPS for it.

Andystriker

A draft is like a cheque. It takes the same amount of time to clear as a cheque. But a draft cannot be stopped.

The only problem is, how do you know it is not a forgery?

wattapain

Hi - how does a CHAPS transfer work?
And I googled bankers drafts and found that some banks can actually stop them - ???
Confused - think I'll ask them for a transfer & they'll have to wait to take possession.
Terri

jonesMUFCforever

I agree that a CHAPS payment is the best option.
It would be worth it for you to agree to pay their bank charge of £30 for peace of mind.