Bankers draughts
#1
1. How secure r they??
2. Can they be forged??
I have a mate who is selling his bike and the bloke says he will pay by bankers draught. The amount is £3000
Any info!!!! Cheers Adam
2. Can they be forged??
I have a mate who is selling his bike and the bloke says he will pay by bankers draught. The amount is £3000
Any info!!!! Cheers Adam
#2
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Yes, they can be forged or stolen. Don't release the bike 'til your bank has cleared it. Should be cleared quicker than a normal cheque, but the again, bank are slugs when it comes to money.
#3
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usually i ask to see id, simply explain why they will have nop prob if genuine, on a couple occasions they have produced the bank card from the account the draught issued from (some numbers will tally up somewere)
failing that give the issuing bank a ring
or insist on the pair of you traveling to your bank to deposit and let the bank clerk look at and deposit the draught
i tend to do most of the above and not been cought out yet
failing that give the issuing bank a ring
or insist on the pair of you traveling to your bank to deposit and let the bank clerk look at and deposit the draught
i tend to do most of the above and not been cought out yet
#4
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I reckon if bankers shut the door the draught will stop. If the draught persists, they may need a new door. If that's the case, they can always pay for it with a bankers draft
#5
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PS - seriously - corradoboy - your comment is rather inaccurate. Drafts do not clear like cheques - the account they are debited on are debited at source when the draft is drawn, so they do not go through the clearing system in the same way - that's the whole point of a draft, it is cleared funds, and is drawn on the branch's own account, not on an individual's account. What you need to do is check the *authenticity* of the draft with the branch it is drawn on. If it is a genuine draft, it is guaranteed funds
#6
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The best thing is to phone the issuing Bank branch when you have the draft and they can confirm the details, so you will know if the draft is genuine.
Nick
Nick
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#9
When I sold my car for £13k, I got the buyer to do a BACS transfer to my current account. It cost me £30, which he took of thr £13k. The cash was cleared in an hour or so......
#10
Dave T-S is spot on.
The DRAFT is initially drawn from the persons account which requires cleared funds. The money is transferred to the banks holding account so the money cannot be spent and is in fact cleared funds at the time of issue.
It takes the same amount of time to 'clear' in to your account simply beacuse your bank hold on to the money to invest it. This is not though the same as the clearing house the banks use for normal cheques where they have to clear the cheque through the originating bank/branch to ensure funds are available.
it's a good as cash I.e. cleared funds.
The DRAFT is initially drawn from the persons account which requires cleared funds. The money is transferred to the banks holding account so the money cannot be spent and is in fact cleared funds at the time of issue.
It takes the same amount of time to 'clear' in to your account simply beacuse your bank hold on to the money to invest it. This is not though the same as the clearing house the banks use for normal cheques where they have to clear the cheque through the originating bank/branch to ensure funds are available.
it's a good as cash I.e. cleared funds.
#11
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Go for a CHAPS electronic transfer, cost about £25 but gives peace of mind. The funds are transfered in an instant.
#12
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I reckon if bankers shut the door the draught will stop. If the draught persists, they may need a new door. If that's the case, they can always pay for it with a bankers draft
Cheers
Kav
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