Secure method of paying out a large amount of money!

KatieKrunch

Thanks everyone for your input. Very sound advice given. we have seen the "van" and met the people selling and in all fairness appear genuine. I suppose they have similar feelings to me in that we could take the "van" and not pay!. The seller has agreed to drive the van to us, we intend to put him up in a local hotel, and he will get the train back home. However he requested payment first. Our plan is for OH to travel up by train, stay in hotel, meet seller following morning, visit bank and complete transfer. OH & seller will drive van back. Seller stay in hotel overnight and return by train. Hopefully everyone happy. having not driven a 7.500 (30ft RV) OH will be able to get some driving experience along the way. Visiting bank on Monday to find out about Fast Transfer. May cost a bit more, but for what we are parting with it'll be worth it.

getmore4less

I bought a car at a car dealers with a debit card, they used the machine in their petrol bit should have see the face on the cashier when the boss came in with me a said take £5500 off this mans card.

OK your numbers will be higher what's the limit for a debit card I do £10k fairly regulary moving money around accounts

You can do instant(well near enough) in his bank with a debit card if the limit is high enough. You take out cash from your card and he deposits cash into his account.

Might need to check with the branches first if they will let you do this for your amount.

If you do it in your bank they should let you do a cash transfer to his account it will take a while(probably normal clearing) for the money to appear in his account but it will be a cash deposit so he should be happy.

Don't forget ID, passport and something with address bank statement might be the best.

Oh and don't forget to check out the holiday inn Family and friends rates for the hotel stays( see the overseas holiday board).

Mikeyorks

KatieKrunch wrote: »

The seller has agreed to drive the van to us, we intend to put him up in a local hotel, and he will get the train back home. . Our plan is for OH to travel up by train, stay in hotel, meet seller following morning, visit bank and complete transfer. OH & seller will drive van back. Seller stay in hotel overnight and return by train..

I think I eventually got that? Makes the payment look simple!

Visiting bank on Monday to find out about Fast Transfer. May cost a bit more, but for what we are parting with it'll be worth it

It's called CHAPS (FP is currently too unreliable much above £1k.) and you'd normally have to hang about until it shows in the seller's account around 1730'ish. But if OH (or you) initiates it (can do it by 'phone ... but I'd prep it first) when at the far end .... seller can then check it the next day before parting with the 'van.

michaels

Other option is some form of escrow.

Alternatively, how about a deposit payment to cover the guys expenses in driving to you with the balance in cash on delivery?