Ebay motors safest form of payment

nanoos

Hi

Im selling my car on ebay for the first time. What would people advise to be the best form of payment so as to avoid being conned. I have asked for bank transfer and cash on collection or cheque but only once it has cleared.

Would a bankers draft also be ok and what about paypal.

Thanks in advance.

hesjane

I wouldn't take a bankers draft, unless I went with the buyer to their bank to get it - too many fakes around. I worked in a bank for several years and still wouldn't touch this once trusted form of payment. Paypal fees will possibly put a large sting in the transaction. Cash - just be very careful there are no fake notes!

I guess cheque once cleared would be okay and you can still pay for express clearance at the bank, but don't hand anything over until it's cleared.

All this is just my opinion though and I'm sure there are far more experienced people on this forum with better advice.

Good luck with the sale.

frivolous_fay

Cash, cash, cash.

Don't even consider paypal... unless it's just for a deposit.

hesjane

frivolous_fay wrote:

Cash, cash, cash.

My SIL sold a motorbike on ebay and got stung for £400 of the selling price in dodgy notes (carefully placed amongst the real ones!). Once the cashier at the bank found one, they went through the whole lot and low and behold there 20 dodgy notes. And they had been checked (albeit quickly) when the sale was made.

The person banking the notes is the one that loses out!

frivolous_fay

GENUINE cash, cash, cash!

hesjane

frivolous_fay wrote:

GENUINE cash, cash, cash!

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

MercilessKiller

tbh buy one of those pens and just mark every one of them VERY quickly! takes 2 ticks and instantly knows if its fake or not..

hesjane

MercilessKiller wrote:

tbh buy one of those pens and just mark every one of them VERY quickly! takes 2 ticks and instantly knows if its fake or not..

Doesn't always work though...text below taken from the bank of england website faq section


[SIZE=-1]Can I use a “detector pen” to check that banknotes are genuine? Simple tests reveal that some (but not all) counterfeit notes can be detected using such pens[/SIZE]

MercilessKiller

Meh well ignorance was bliss.. but then again i'd rather have the money! Thanks for that! Maplin Electronics (when i used to work for them) sold them as a 100% way of detecting fake money.. false advertising tut

hesjane

Full text from BoE is

Can I use a “detector pen” to check that banknotes are genuine?
Simple tests reveal that some (but not all) counterfeit notes can be detected using such pens. The pens work by a chemical reaction between the pen ink and the paper. Using such pens is not a foolproof method of checking that a banknote is genuine because some counterfeits may be configured to react in the same way as genuine banknotes. Unreliability can also occur if pens are old or dirty. To check banknote authenticity retailers are reminded to check several of the security features on banknotes such as the feel of the paper and the raised print, the watermark and metallic thread. Details on the checks to make can be found in the leaflet “take a closer look” which is available free from the Bank of England.

dmo73av

i'm in a similar boat myself.

is it reasonable to ask the buyer to show me the money coming from bank or hole in the wall? accompany them to bank or hole in the wall?