Withdrawing 5K from my bank account

John_in_the_city

Johnny, Are you buying from a dealer or private? If its a dealer they have restrictions about how much cash they can take against the value of the vehicle (anti money laundering). However, if it is a dealer, get their bank details, go to HSBC and tell them you want to make a CHAPS payment. This is only limited by the amount in your account and is guaranteed for payment to the other account before close of business the same day. They will have a cut-off time, probably noon-ish, so get in to the branch as soon as you can. fee will be about £20.

Good luck.

dobbie82

anti laundering limit that they can take for a car in cash is £9000 I think so you are ok on that score, natwests limit was £1000 last year when I wanted to buy a car for £1500

so took £1000 out of the bank on the friday, and £250 out of the cash machine, then £250 out of the cash machine on the saturday morning when i went to buy the car.

tanith

I have also paid large amounts for cars by debit card.. much better than walking around with thousands in your pocket...

zebidee1

My son is also buying a car today and after seeing this thread I told him to call to tell A&L he will be needing to take £3K out of his account.

CS girl told him he didn't need to call in advance and just to go into the branch as usual, no notice needed and it wasn't a problem. Hope she got this right. :rolleyes:

viktory

When I wanted to withdraw £2k from Barclays, I called the day before, told them how much I wanted and was told to turn up the next day (Saturday) with ID. The money was there, in a fat envelope waiting for me. The only thing that annoyed me was that the CS girl on the phone asked me what I wanted the money for. I refused to answer. That really is my business.

jonesMUFCforever

Whilst I agree the CS was a bit OTT for £2k you would not believe the number of people who I get wanting anything between £10k to £20k because they want to buy a car.
They sometimes think that if they turn up with a dollop of cash they will get a discount. Most franchise garages don't work this way and in fact most garages won't accept cash as payment! So by asking a few relevant questions you can actually save the customer time and money.

jonny0

hello everyone just an update.
so i phoned up my bank and i explained the situation....the woman on the phone directed me to another bigger branch and said the money will be there on saturday for you to collect. so i never bothered going in that day.

off i went just when the bank opened, showed my card and driving license, she asked whats it for, i said its for a car.
She said you can do a bankers draft or a CHAPS transfer, i said no thank you
(Notice how she never mentioned a cheque....because its for free unlike B/D or CHAPS)
I just returned home with my lovely 307:D

so everything went smoothly....i just find it worrying that no checks were done, what if a thief stole my card then forged a driving license in that name....he could have just phoned up my bank and collected a whole bag of cash!

jonny0

ejones999 wrote: »

Whilst I agree the CS was a bit OTT for £2k you would not believe the number of people who I get wanting anything between £10k to £20k because they want to buy a car.
They sometimes think that if they turn up with a dollop of cash they will get a discount. Most franchise garages don't work this way and in fact most garages won't accept cash as payment! So by asking a few relevant questions you can actually save the customer time and money.

Your right, many will not accept payments over 10K in cash.

but anything under that and 90% of sellers will, and you will get a discount too most probably.

Gemma84_3

Wow!! How i'd love to have that much money in my bank lol!!

jonny0

Gemma84 wrote: »

Wow!! How i'd love to have that much money in my bank lol!!

5K = £5000 ....Not really a lot of money if you live in the UK.:)