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Buying a car in the Uk, payment methods

  • 09-02-2020 7:46pm
    #1
    jordanfaf
    Registered Users Posts: 162 ✭✭


    Right so I’m buying a car in the Uk, private sale and the seller won’t take cash. A bank transfer can take a few days correct? So that’s off the table. Would a bank draft be the best option? How long do they take to clear and I assume it being guaranteed should negate any delays really.

    The seller doesn’t have revolut or anything similar either


Comments

  • #2
    Johnny Sausage
    Closed Accounts Posts: 890 ✭✭✭Johnny Sausage


    jordanfaf wrote: »
    Right so I’m buying a car in the Uk, private sale and the seller won’t take cash. A bank transfer can take a few days correct? So that’s off the table. Would a bank draft be the best option? How long do they take to clear and I assume it being guaranteed should negate any delays really.

    The seller doesn’t have revolut or anything similar either

    Use revolut to transfer to their UK account


  • #3
    jordanfaf
    Registered Users Posts: 162 ✭✭jordanfaf


    Johnny Sausage wrote: »
    Use revolut to transfer to their UK account

    That’s the same as a regular transfer I think. It’s only instant between 2 Revolut accounts


  • #4
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,360 Mod ✭✭✭✭Jim2007


    jordanfaf wrote: »
    Right so I’m buying a car in the Uk, private sale and the seller won’t take cash. A bank transfer can take a few days correct? So that’s off the table. Would a bank draft be the best option? How long do they take to clear and I assume it being guaranteed should negate any delays really.

    The seller doesn’t have revolut or anything similar either

    It is very strange that someone will not take cash... do you know this person well? How is it got to work? You transfer the cash and then you get the car or the other way around...


  • #5
    Johnny Sausage
    Closed Accounts Posts: 890 ✭✭✭Johnny Sausage


    jordanfaf wrote: »
    That’s the same as a regular transfer I think. It’s only instant between 2 Revolut accounts

    Nope, I regularly send money to my UK account from revolut and the longest it has ever taken is 5 minutes


  • #6
    Quackster
    Moderators, Regional South Moderators Posts: 5,827 Mod ✭✭✭✭Quackster


    jordanfaf wrote: »
    That’s the same as a regular transfer I think. It’s only instant between 2 Revolut accounts

    As long as their UK bank account is with one of the major banks that support Faster Payments, a GBP transfer from Revolut should be near-instantaneous during business hours.


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  • #7
    jordanfaf
    Registered Users Posts: 162 ✭✭jordanfaf


    Thats very strange. i just got off a web chat with revolut customer service who said it would take up to 3 business days


  • #8
    Bikerman2019
    Closed Accounts Posts: 992 ✭✭✭Bikerman2019


    Dont mean to divert the thread, but are you aware of the new NOX levy on top of VRT now?


    May not be relevant to you, but be aware of it anyway.


  • #9
    Johnny Sausage
    Closed Accounts Posts: 890 ✭✭✭Johnny Sausage


    jordanfaf wrote: »
    Thats very strange. i just got off a web chat with revolut customer service who said it would take up to 3 business days

    They say that to cover themselves


  • #10
    jordanfaf
    Registered Users Posts: 162 ✭✭jordanfaf


    Bikerman2019 wrote: »
    Dont mean to divert the thread, but are you aware of the new NOX levy on top of VRT now?

    May not be relevant to you, but be aware of it anyway.

    I am yes, its a beefy petrol engine so capped at 600...


  • #11
    jordanfaf
    Registered Users Posts: 162 ✭✭jordanfaf


    jordanfaf wrote: »
    Thats very strange. i just got off a web chat with revolut customer service who said it would take up to 3 business days
    Johnny Sausage wrote: »
    They say that to cover themselves

    I see, I cant really take the risk i feel tho!. If i get there and it does end up taking a few hours even ill miss my return ferry!

    I was hoping a bank draft would be similar to lodging cash as it is a pre approved cheque!


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  • #12
    Johnny Sausage
    Closed Accounts Posts: 890 ✭✭✭Johnny Sausage


    jordanfaf wrote: »
    I see, I cant really take the risk i feel tho!. If i get there and it does end up taking a few hours even ill miss my return ferry!

    I was hoping a bank draft would be similar to lodging cash as it is a pre approved cheque!

    I've just sent myself what was change was in my GBP revolut account to my UK account to test it and it arrived instantly


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