Advice Confirms = Chaps Payment?

Simmy

Simmy

Simmy

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Joined
26 Dec 2003
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UK
I've received payment for my motorbike which was sent by CHAPS apparently.

Now the guy buying the bike hasn't seen it in the flesh yet (although the pics on my advert are pretty detailed) and is adamant he wants to collect it tomorrow (having paid today).

It all seems a bit suspicious, but the money is sitting nicely in my account and it says "ADVICE CONFIRMS". Is that CHAPS payment? If so, can I rest safe in the knowledge they can't take the money out if it turns out to be a fraudulent transaction?
 
So really, the only safe way to actually sell a car is to take buyer down to the bank, watch them withdraw their hard-earned, take said cash down to your bank and watch them count it in. Or at least that's how I bought my 350z.
 
I spoke to a couple of people at HSBC who basically said it was a done deal. Even HSBC can't reverse the transaction according to one of them.

I'm still not convinced though. I've tried everything in my power to find out if it's legit - God help the HSBC customer service department if they decide to take the money back out of my account :p
 
paradigm said:
Unless of course it has been transferred from a phished/fraudlent/stolen account. In this case, the banks WILL claim the money back, leaving you cashless and bikeless.
Click to expand...

CHAPS payments are very secure. The most secure electronic payment you can make. Need signatures and often phone calls are made to both parties. That is why they cost the most.
 
Well I spoke to HSBC for a third time and their procedures state that the issuing bank are responsible for the money and I will be safe, even if it is a fraudulent transaction.

I'm tempted to follow them once they drive off (they're collecting it on a trailer) to see if their address matches the one they've given me :p
 
Last edited:
lol that would be a stage too far !

personally id just ask for drivers license with address on and write them out a good receipt, theres plenty of them online.
 
This thread has helped me out for this weekend of car test drives and possible deposit monies :D
 
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