selling car on ebay
- unc.si.
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selling car on ebay
Selling a car on ebay - if someone does a bank transfer to my account the day before they pick the car up and I check online that the cash is in my account, is there any risk that it can later be recalled?
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- Dumbledore
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Re: selling car on ebay
Can you ring your bank and ask them? Pretty sure in the days of cheques the cheque would be credited before the funds cleared hence yes you would have been at risk. I think cheque kiting is linked with this.
- unc.si.
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Re: selling car on ebay
I'll try and ring them tomorrow - internet bank though so have to go through call centre hell!
In the old days there was definitely a risk. Pretty sure these days once the transfer has gone through on FPS then its definitely mine, but it's about £12k so I don't really want to take the risk!
In the old days there was definitely a risk. Pretty sure these days once the transfer has gone through on FPS then its definitely mine, but it's about £12k so I don't really want to take the risk!
- primitive man
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Re: selling car on ebay
Beware - Look for thread - A Cautionary Tale in financial & Shopping forum.
Heres a link-
viewtopic.php?f=45&t=73533&p=1637526&hi ... r#p1637526
Heres a link-
viewtopic.php?f=45&t=73533&p=1637526&hi ... r#p1637526
Last edited by primitive man on 26 Feb 2018, 09:52, edited 1 time in total.
- Zimmerman
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Re: selling car on ebay
If they are doing a cash transfer (via FPS) I think once it hits your account, it hits. There won’t be a facility to cancel/recall.
However, I assume they could perhaps ring the bank to dispute it - but that would follow normal processes (of their bank engaging your bank and trying to recoup etc. Which might mean your bank put a hold on the funds).
However, I assume they could perhaps ring the bank to dispute it - but that would follow normal processes (of their bank engaging your bank and trying to recoup etc. Which might mean your bank put a hold on the funds).
- unc.si.
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Re: selling car on ebay
I've got a call into the bank to confirm, but yes, thats how I understand FPS. I don't think they can block the funds though and I'll have an invoice signed when they collect anyway. Hopefully my bank will confirm.Zimmerman wrote: ↑26 Feb 2018, 09:51 If they are doing a cash transfer (via FPS) I think once it hits your account, it hits. There won’t be a facility to cancel/recall.
However, I assume they could perhaps ring the bank to dispute it - but that would follow normal processes (of their bank engaging your bank and trying to recoup etc. Which might mean your bank put a hold on the funds).
Not that keen on that amount of cash either tbh, but if its not certain to be safe doing an FPS I'll take them to a bank, get them to withdraw the funds (presume they'll have to clear this with their bank in advance for that amount) and then pay into my account before they leave.
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