Bankers draft

catbaloo

I have someone interested in buying my motor home. He would like to pay by bankers draft.

I am somewhat concerned it may not be legit, The guy seems genuine 'but you never know these days.

If i go to the bank with him and present the bankers draft would they ckeck its genuine and would the money be available there and then.

I 've read so many different opinions online i'm going round in circles

regards

opinions4u

Wait until the bankers draft is fully cleared (7th bank working day after deposit) before releasing the goods.

jonesMUFCforever

catbaloo wrote: »

I have someone interested in buying my motor home. He would like to pay by bankers draft.

I am somewhat concerned it may not be legit, The guy seems genuine 'but you never know these days.

If i go to the bank with him and present the bankers draft would they ckeck its genuine and would the money be available there and then.

I 've read so many different opinions online i'm going round in circles

regards

They could not do this and would not wish to do so in case you blame them if it goes wrong for you.
If he has access to a bankers draft he has access to a bank that can do a CHAPS payment to your account - or depending on the amount a faster payment from his to your account.
I would not release goods until the draft has been through the clearing system just like any other cheque (2-4-6)

If that fails why not ask for good old cash.
It's your motor home- its up to YOU to decide how the buyer pays - if he's iffy about this then walk away!

pinkdalek

Ask your bank if they do a special presentation service. You would normally pay a fee varies from bank to bank but on average it is around the £15 mark.

Under this facility the cheque is physically sent to the drawing bank who once they have received the cheque via post give an answer straight away for you. This service is done between the two banks, your bank contacts the drawing bank each day (usually after 3pm) for a decision (or fate) once the cheque has been paid you know for certain it is ok.

The problem with the normal clearance cycle is the cheque is not necessarily cleared even after the 6th working day. If the draft is fraudulent you can still have it bounce out of the account. Doing special presentation would answer any concerns should the cheque be fraudulent.

catbaloo

Thanks for your replies, I think the best thing to do is to go down to my bank and ask their advice.

regards