Avoiding Building Society/Counter Cheque Charges

shinydoc

I have a Halifax Current Account and am looking to buy a car and need a counter cheque to pay for it. Halifax want to charge me £10 to issue that from my current account - any suggestions on how to avoid this?

I thought open a savings account, transfer the money into that, get the free counter cheque from that and then close the account! The cost of admin to the Halifax would be more than £10 and I would prefer to get it waived and issued from my current account.

Any advice or suggestions would be much appreciated.

jonesMUFCforever

Why do you need a counter cheque.
With a current account do you not have a cheque book?

If the garage want a bank cheque (guaranteed payment) then there is no alternative to paying.

Will the garage accept a debit card as payment?

shinydoc

Yes, I have a cheque book, but that takes time to clear.

They will only accept a counter (Building Society Cheque) cheque, but as I have a cheque book there is a £10 charge to issue this!

Not sure about a debit card and if that is 'guaranteed' money to them?

jonesMUFCforever

The 'guaranteed' cheque will take exactly the same time to clear in their accounts as if you had given them one of your own.
The only difference is that it has been issued on the bank rather than you the account holder so gives the impression that it is 'safe' to accept.

A debit card transaction would clear in their account in a day or so and provide they follow their correct procedures in dealing with your transaction is guaranteed to them.

Mikeyorks

shinydoc wrote: »

Yes, I have a cheque book, but that takes time to clear.

A Building Society cheque / Bankers Draft is equally a cheque ... and takes the same amount of time to clear as your personal cheque :-

http://www.apacs.org.uk/resources_publications/faqs/cheques_16.html

..... the real distinction the garage are drawing is the security to them of a cheque funded on Bank money .... rather than your's. And the fact you can't put a Stop on the Bank cheque.

But if you're reluctant to part with £10 .... ask the garage (as previous posts) if they'll accept a Debit Card. Which guarantees then funds ..... if they properly authorise the transaction.

I vaguely remember asking Halifax for a Draft several years ago .... drawn on a Savings account. And they charged for it ..... as I have a current account with them, so could have written a cheque! Which is when I started using a Card for car purchases - as it's easier all round.