Selling - payment

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VanB
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Joined: Wed Sep 21, 2016 6:58 pm

Post by VanB »

Do a bill of sale to get the purchaser to sign and you have your backup (also worth ensuring it has "sold as seen" in it). Large cash deposits are potentially notifiable to the authorities (if you don't normally make them and don't have the backup to prove the origin of the cash) and could lead to further investigation of your own finances so would definitely steer clear of cash
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Ian.g
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Joined: Sat Jul 23, 2016 8:04 pm
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Post by Ian.g »

Good thread... but I think the bank bits are not quite correct. I was able to transfer the full funds to Porsche for my new car via FPS, but under some circumstances it might be possible to recall this (as mentioned above). CHAPS is pretty much unlimited and not possible to recall. So offer to pay the £20 charge and get them to do this.
Here is the link for FPS limits - it depends on the bank.
http://www.fasterpayments.org.uk/about- ... ransaction
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