Paying in advance for works

longwalks1

We are having our rear wall opened up and bifold doors fitted, and have had a written quote from a builder. They want 50% up front, then the remainder on completion (2 days work), we are happy with this. Whats the best/safest way to pay the initial 50% deposit please?

We've never done this before, so just being cautious I guess

System

How have they asked to be paid?
The best way would be by credit card to get the protection that offers but a lot of builders do not have that facility, so you will be limited to pay in a method they accept

longwalks1

the_r_sole wrote: »

How have they asked to be paid?
The best way would be by credit card to get the protection that offers but a lot of builders do not have that facility, so you will be limited to pay in a method they accept

Hiya
Theyve offered debit or credit cards or BACS transfer. They charge an extra 6% for credit card payment, I was thinking of doing bank transfer as then I have a definite record of the payment?

teneighty

Why 50% upfront? Are they supplying the doors? I would only expect a large advance payment like that if an expensive bespoke item was being ordered.

As for payment why not use your debit card, it usually carries no additional fee but some, like Barclays, have the same protection as a credit card. (check recent news about protection removed if paid through intermediary such as paypal or izettle)

System

You can pay some on credit card which would cover the whole transaction protection wise (someone more knowledgeable will give you the figure, £100 rings a bell) and that would save the commission.
Then BACS the rest

longwalks1

teneighty wrote: »

Why 50% upfront? Are they supplying the doors? I would only expect a large advance payment like that if an expensive bespoke item was being ordered.

As for payment why not use your debit card, it usually carries no additional fee but some, like Barclays, have the same protection as a credit card. (check recent news about protection removed if paid through intermediary such as paypal or izettle)

Sorry I meant to say, they are supplying and fitting the doors

My debit card is with Lloyds so unsure if they offer similar protection?

Paully232000

the_r_sole wrote: »

You can pay some on credit card which would cover the whole transaction protection wise (someone more knowledgeable will give you the figure, £100 rings a bell) and that would save the commission.
Then BACS the rest

Section 75 does cover you from £100 to £30,000 for a single item, even if you only pay part of the item via credit card. So, given it is 6% of the credit card amount, I would be tempted to pay a small amount, £100 or so on your CC, and then the rest of the deposit via bank transfer, or some other means.

shortcrust

Out of interest, how much are you paying? I want to do something similar.

Cisco001

I would ask them to quote the exact value of the door...

macman

BACS gives you no protection at all. Once it's gone, it's gone.

longwalks1

Paully232000 wrote: »

Section 75 does cover you from £100 to £30,000 for a single item, even if you only pay part of the item via credit card. So, given it is 6% of the credit card amount, I would be tempted to pay a small amount, £100 or so on your CC, and then the rest of the deposit via bank transfer, or some other means.

Sorry I forgot to say I have 2 x credit cards but use them for 0% balance transfers, so adding £100 to them as a purchase will that attract interest as it'll be the last amount on the CC to be paid off?

I only use a debit card for day to day purchases and costs