Last time i sold a car i took advice: A bankers draft is not cash! luckily a friend in the bank- called the bank i was getting paid from to determine that it existed, had funds, was the named account and had drawn the draft- illegal for him to do so but made me a happy bunny- bank transfer- if the funds go into your account- is there any way that the transaction could be cancelled? i don't know... What do you think?

A bankers draft takes a few days to clear after you pay it in.
The funds have to be in the
account for the draft to be issued, but apparently there's nothing to stop them from taking the money out afterwards, in which case the draft will bounce.
Bank transfer is the best option, it's instant and not reversible.
lt can be done using online banking, although the phone app generally won't do more than £10,000 per day, you have to use online banking on your computer.
Alternatively you can both (buyer and seller) go into the bank and do it there.

lightning said:

Bank transfer is the best option, it's instant and not reversible.

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+1 this - it's the buyers responsibility to make this happen. If a buyer cannot/refuses to Bank Txfr I'd politely refuse to sell the car to them as in this modern day with near spontaneous money txfr timeframes it makes no sense to rx funds in any other way. Really it's so simple...last time I bought a car I pre-notified my bank of expected txfr and value. Day after viewed and test drove said car, agreed price with vendor, called bank with vendor's bank details, the funds txfr'd and were completely cleared and in his account within 20mins[!] [though bank said it may take up to 1hr]. I paid £20 for the txfr; job done with both parties very happy.

Bought boat with bank tfer, tferd money and pretty much straight away got a txt from seller saying he had the money.
I did have to speak to the bank to get it to happen, they asked for a reference, but I said none was fine, was so teppted to call it something funny, like drugs and hooker funds!

lynall said:

was so tempted to call it something funny, like drugs and hooker funds!

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Ha, that reminded me of Lock Stock & Two Smoking Barrels scene...the "Arse Ticklers and Faggots Fan Club..."



Off topic, I believe LS&TSB's to be one of the very, very rare and hugely underrated all time film greats. Rarely a scene without totally original script and first rate music throughout...

l love that film and agree it's one of the all time greats, and a classic.
l imagine it's not on TV much due to the pretty much constant violence all the way through, for instance if they censored it for the pre-9pm watershed the remaining film would be about ten minutes long