Someone wants to buy my car paying with multiple cheques with guarantee card

Keeping_Positive

I have heard/read that you cannot pay for a single item with mutiple guarenteed cheques they wont be covered.

jase1

> Only a single cheque per day of the limit is guaranteed for any one payee.

So, point this out to him and say he can write you 15 cheques, but post-date them so you'll put in one per day. Then he can have the car in 15 days.

Or one cheque and he gets the car in 5-7.

See what he says.

mikey72

As everyone has said, they'll bounce even with the card number on.
Go to the bank with him, and get the money over the counter.

vaio

hartcjhart wrote: »

if you read the T&Cs on check cards they can return a cheque IF there are not enough funds in the account

Nah, that would defeat the whole point of cheque guarantee cards and nobody would accept a cheque for anything

OP...I'm pretty sure there is something that means you aren’t covered if you accept multiple cheques for a single purchase

zzzLazyDaisy

According to the Nat West website:

Q. What is a Cheque Guarantee/Cheque card and when would I use it?

A. A cheque guarantee card or cheque card is a debit card with a cheque guarantee hologram, which guarantees the payment of cheques up to the value indicated on the card (£100 or £250) in a single transaction, for the purchases of goods or services.


On that basis, a purchase made with multiple cheques would not be covered.

Also, according to the thisismoney website, a cheque guarantee card is only valid for cheques made payable to a business

http://www.thisismoney.co.uk/savings-and-banking/ask-an-expert/article.html?in_article_id=517356&in_page_id=111

While I appreciate these are not links to legal sources, they do suggest that you would be on very risky ground if you go through with this.

Far better for your purchaser to pay by cash - assuming he has the money that should be no problem.

vaio

agree with the one cheque per transaction but the only valid with businesses bit don't make sense

mikey72

vaio wrote: »

Nah, that would defeat the whole point of cheque guarantee cards and nobody would accept a cheque for anything

OP...I'm pretty sure there is something that means you aren’t covered if you accept multiple cheques for a single purchase

They can.
They don't often, but they can refuse to pay, even with a card.
All the cheque guarantee card really means is the other person can't stop the cheque later.

vaio

I’m surprised at that (in the absence of fraud) as because it would defeat the point of a guarantee card if it only guarantees it sometimes. Got a link?

mikey72

vaio wrote: »

I’m surprised at that (in the absence of fraud) as because it would defeat the point of a guarantee card if it only guarantees it sometimes. Got a link?

Most links are gone, as it finishes this summer, the only ones I can find deal with the card owner trying to stop them and can't.

Having said that, the scheme

http://www.apacs.web-manager.co.uk/spot_and_stop/documents/UK_Domestic_Cheque.pdf

is so onerous, and it relies on the retailer to police it, and prove to the bank they had complied, so it is very easy to refuse to pay.
Favourites are the banks claim the card owner had written the number on, and then return the cheque, or that it was a fraud that should have been spotted at the time, and return the cheque.
If there was a problem with this, they would claim fraud, and return the cheques unpaid. The op would have to prove it wasn't.

vaio

Doesn’t seem that onerous to be honest, check the card is in date and matches the cheque, watch the customer sign the cheque, check the signature on the cheque is the same as on the card and write the card number on back of the cheque.

Sounds like less than 30 seconds start to finish to me, time well spent given it’s guaranteed payment