Paying for a car using Direct Debit card

johnbfan

Hi
We put a deposit on a car yesterday using a credit card (£500 for the S75 protection). Tuesday we are going to collect and pay the balance of the cash by debit card. We want to own the car outright. The amount we are paying by debit card is over £10,000. Should we notify the bank that this transaction will be happening? or just go along and pay using the debit card?

BeenThroughItAll

johnbfan wrote: »

Hi
We put a deposit on a car yesterday using a credit card (£500 for the S75 protection). Tuesday we are going to collect and pay the balance of the cash by debit card. We want to own the car outright. The amount we are paying by debit card is over £10,000. Should we notify the bank that this transaction will be happening? or just go along and pay using the debit card?

You shouldn't need to notify your bank as long as the funds are present in the account.

I've paid up to £37000 on my debit card before now.

johnbfan

Thats what I was hoping. I've got to move the money into the account the weekend from another account with the same bank so it will all be there when we pick the car up. Last time we bought a car was 2008.

Thanks very much.

Car_54

BeenThroughItAll wrote: »

You shouldn't need to notify your bank as long as the funds are present in the account.

I've paid up to £37000 on my debit card before now.

My experience was the opposite- a £10,000 payment was refused "for my security".

Well worth a quick phone call to the bank.

bubieyehyeh

When I did a paid £10000+ for my last car on my debit card I pre-warned my bank, but the bank still wanted to talk to me when the dealer tried to put it through.

worried_jim

I wondered what a direct debit card was!

Debit card.

Just go make the payment, if the bank needs to talk to you so be it.

DUTR

johnbfan wrote: »

Hi
We put a deposit on a car yesterday using a credit card (£500 for the S75 protection). Tuesday we are going to collect and pay the balance of the cash by debit card. We want to own the car outright. The amount we are paying by debit card is over £10,000. Should we notify the bank that this transaction will be happening? or just go along and pay using the debit card?

My last 2 cars I purchased brand new and paid with DC, larger sums than you are quoting , the transaction was straight forward.

MataNui

I have had a 20k transaction go through fine and a 3k one that didnt. Same bank account. If there is an issue the bank will phone the dealer after they try to put it through.

hollie.weimeraner

MataNui wrote: »

If there is an issue the bank will phone the dealer after they try to put it through.

I would have thought they would contact the account holder to verify it as a genuine transaction

Ebe_Scrooge

Over the years I've bought a few cars with debit card. The first time I did it, the card terminal gave a message asking me to phone the bank. No problem, phoned my bank there and then from the dealership's phone, answered a few questions, transaction was authorised. On subsequent occasions I've always phoned the bank in advance, notifying them of the date, dealership's name and amount, and the transaction went straight through on the day.


I'm guessing different banks will have different policies - though most will query an unusually large transaction. My advice would be to phone them in advance just to let them know - but if the transaction does require authorisation on the day, it's no great hassle.


Just to add - if you do need to speak to the bank, it's far safer for you to call them. If "they" call you, it could be anyone pretending to be the bank. As I say, when it happened to me the card terminal asked me to call them anyway - but just be aware.

Sicard

My bank Barclays puts a limit of £10,000 per day on debit card transactions.