Protecting a cheque payment

kentishmills
kentishmills Posts: 1 Newbie
in Budgeting & bank accounts
A supplier wants me to make a substantial payment by cheque or bankers draft (over £5,000) He doesn't accept credit card payments. He has a very good credit rating but I would like to protect my money in the six weeks it is going to take for him to supply the goods. Is there any way of doing this ?

Comments

  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    First Anniversary
    Don't pay until the supplier has the goods ready to supply.
    "You were only supposed to blow the bl**dy doors off!!"
  • soolin
    soolin Posts: 72,198 Ambassador
    Photogenic Name Dropper First Post First Anniversary
    No, if he pays in the cheque and it clears then you can't stop it or recall it later should you have problems.
    I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.
  • bwgames
    bwgames Posts: 137 Forumite
    Use a 3rd party escrow service?
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