Private sale question

[leoncuprar]

Hi

So a guy wants to come and probably buy my car tomorrow for 12k... he says his banking app will only allow 5k bank transfer so was bringing 7k cash.
I'm ok with that as long as we go to the bank and deposit the cash together.

Do you know if Santander will accept that or because of the amount would we need an appointment ?? He's travelling a fair distance so don't want to get to the bank and then get no where.

Thanks

 

[MrRockliffe]

Tell him to call his bank and pre approve a larger transfer.

I have a limit but can request it be raised ahead of a sale - I did so when buying my Porsche

 

[leoncuprar]

Thanks I'll suggest that.

 

[Semple]

I've never heard of a faster payments limit of only 5K! 10k is the minimum limit I've seen. Which would mean you'd only have to take 2k in cash.

 

[Stu999]

I’ve not heard of banks stopping you paying in that sort of amount in cash. They will definitely ask where it’s come from though. (Caveat, it’s been ages since I’ve paid in cash so might have changed.)

 

[lordrobs]

Tell him to call his bank and pre approve a larger transfer.

I have a limit but can request it be raised ahead of a sale - I did so when buying my Porsche

Absolutely this, but the fact that we are talking about 24 hours notice I'd assume the guy already has the pound notes in his possession so might be more keen for you to take the cash that having to re-bank it before doing the transfer. That is assuming he doesn't have another spare £7k to cover it straight off.

I've always bought cars privately with cash in the past but only after meeting them in person at their house first, leaving a small deposit then coming back to finish the deal. Most expensive was £6.5k though.

 

[Hyburnate]

Not sure if it’s too late but you could always use PayPal as a friend also

 

[MR_Punk]

I remember when trying to pay £9k through Halifax's app it forced a call from Halifax but it was a 2 minute conversation and they just asked a few fraud questions.

 

[tom_e]

You might have to give them a heads up if you wanted to withdraw £7k but I can't see any issue with depositing it all they need to do is stick it through the cash counter magic machine and credit your account.

 

[leoncuprar]

He's not coming now as he couldn't get here before my bank closes at 3pm, and he's not made any effort to re arrange or sort the bank transfer limit ... His loss , I've got another buyer lined up..

 

[Kenai]

Probably got a load of notes from doing 'tax free' work that he was hoping to unload onto you and doesn't want to be answering questions about where he came by £7000 of used notes in a bank.

 

[FloppyPoppy]

He's not coming now as he couldn't get here before my bank closes at 3pm, and he's not made any effort to re arrange or sort the bank transfer limit ... His loss , I've got another buyer lined up..

Given that he doesn't sound overly concerned at all and isn't making any efforts he likely isn't a genuine buyer anyway. He would have likely turned up with £3000 less and tried to get it for that saying it's all he has. I seem to get that a lot lately. "Hi oh sorry i forgot to withdraw the other £80 can i have it for £100...." They never seem to like it when you suggest there is a cash machine a 1 minute walk away

 

[Drangueos]

I use Santander as well, they have no problem accepting large deposits, they will usually ask where did you get the money.
I sold a car before and the guy paid cash, I had no problems depositing the money.

 

[Twentymac]

I've just done this two weeks car (me buying a car) I had to transfer the seller a maximum of £2k a day, for the first transaction. I was then able to send the rest of the payment (£6k) in a payment the next day when I went to collect.

 

[bigmike20vt]

for future reference whilst many banks have a limit on the app, most i think will allow you to transfer much more using the online web page.

 

[bigmike20vt]

Probably got a load of notes from doing 'tax free' work that he was hoping to unload onto you and doesn't want to be answering questions about where he came by £7000 of used notes in a bank.

I get why they ask the questions but when the bank got a bit too personal on the questions i politely tell them to back off a bit....... All they need to know is that i am not being pressured to give the money and that the money is mine. (I paid mostly cash for a £25k extension we had done........... as far as i am concerned it was all above board, i certainly didnt know any different and it was none of my business what the builder did with the cash after i paid them..... i got all recepts and what not that i needed.

 

[Building Candy]

With the amount of times this sort of issue comes up, Im surprised that by now there isn't a company/service that can act as a middle man to "hold" the buyers cash and then transfere it to the seller when both parties agree.

 

[mid_gen]

With the amount of times this sort of issue comes up, Im surprised that by now there isn't a company/service that can act as a middle man to "hold" the buyers cash and then transfere it to the seller when both parties agree.

It's called escrow and services have been around forever.

 

[Drangueos]

With the amount of times this sort of issue comes up, Im surprised that by now there isn't a company/service that can act as a middle man to "hold" the buyers cash and then transfere it to the seller when both parties agree.

I already thought about that years ago and there are companies that do that... just google escrow car purchase
But ofc, they charge fees for the service

 

[happy_2008]

Hi

So a guy wants to come and probably buy my car tomorrow for 12k... he says his banking app will only allow 5k bank transfer so was bringing 7k cash.
I'm ok with that as long as we go to the bank and deposit the cash together.

Do you know if Santander will accept that or because of the amount would we need an appointment ?? He's travelling a fair distance so don't want to get to the bank and then get no where.

Thanks

Lloyds bank had a daily limit of £25k when i was buying my car, i did the rest from my santander bank