Selling car - Is it safe to accept bank transfer

Andystriker

Tell the buyer that you want to see his birth certificate, marriage certificate and death certificate. You will also need to know what he had for breakfast each day for the last 3 months.

Ask him for blood samples as well.

Oh and don't go alone, take the local police with you.

Paulgonnabedebtfree

Probably a bit late for this but do it as early as possible. If a bank has started updating its systems for the day, the money may not show up till the following morning.

Biggles

jonesMUFCforever wrote: »

What if the buyer has hacked into somebody's account and is sending an innocent victim's cash into your account?

What if he pays cash with money he's just stolen??

tagq2

A bank can manually reverse any transaction it considers suspicious - it may even be obliged to.

I think the best thing to do is accept that no sale anyone ever makes is 100% guaranteed not to involve fraud by the buyer. It's a risk you must accept. So choose a method which a fraudster is least likely to accept - concurring with above, FP is much better than e.g. cheque.

innovate

A banker's draft will be safe, provided you have checked yourself that it was actually issued by a bank.

Biggles

tagq2 wrote: »

A bank can manually reverse any transaction it considers suspicious - it may even be obliged to.

Not true.

It can undo a payment if if it considers the recipient to be complicit in a fraudulent transaction. Not just because it wonders how the payer came to have the money.

Anyway, the transaction, however it took place, was completed ages ago, though it doesn't look as though the OP is going to tell us how it went.

nilrem_2

After reading all the comments above I think I would feel a lot safer selling my car to a reliable car dealership if I needed to sell! :eek: