Paying 8k for car - thinking bunq

boomshakalaka

Hi all,

Im paying for a car soon - 8000 euro.

The dealer has promised to sort out a few things on the car before I collect it so I don't really want to hand over money until I can confirm all is done. Dealer is also over an hours drive and I'd like my next visit to be the last one where I leave with the car.

So I'm looking in to options of paying the full amount on the day, instantly. Seems that's not as easy as it seems..

I bank with KBC.

They need written instructions for bank drafts with the lead time being 5 to 7 business days, that's too long.

I chatted in and KBC let me know I can't pay more than 2500 euro with my card per day.

They suggested I do an electronic transfer (two, because the transaction limit is 5000 euro) which would take 1-2 business days to clear.
I doubt the dealer will hand me the keys without the money being received on his end, and I don't want to send it in advance.

I have a revolut card and their chat said that there's no daily spending limit - but there's a lot of conflicting info on that so I worried its a risk and it won't go through on the day.

So I'm looking in to the option of a bunq travel card - assuming I can receive it on time - which has a huge daily spending limit and should suffice.

Is this the best option here? Will the dealer accept bunq card payment?

og2k7

boomshakalaka wrote: »

Hi all,

Im paying for a car soon - 8000 euro.

The dealer has promised to sort out a few things on the car before I collect it so I don't really want to hand over money until I can confirm all is done. Dealer is also over an hours drive and I'd like my next visit to be the last one where I leave with the car.

So I'm looking in to options of paying the full amount on the day, instantly. Seems that's not as easy as it seems..

I bank with KBC.

They need written instructions for bank drafts with the lead time being 5 to 7 business days, that's too long.

I chatted in and KBC let me know I can't pay more than 2500 euro with my card per day.

They suggested I do an electronic transfer (two, because the transaction limit is 5000 euro) which would take 1-2 business days to clear.
I doubt the dealer will hand me the keys without the money being received on his end, and I don't want to send it in advance.

I have a revolut card and their chat said that there's no daily spending limit - but there's a lot of conflicting info on that so I worried its a risk and it won't go through on the day.

So I'm looking in to the option of a bunq travel card - assuming I can receive it on time - which has a huge daily spending limit and should suffice.

Is this the best option here? Will the dealer accept bunq card payment?

Hey

So I would go for a GIRO (Wire transfer) same day - in your case sounds like the best option. I think the cost might be 2.50 EUR. Its a similar option like paying the deposit for the house etc.

Make sure to ask they about cut-off times: typically same day is 1pm - but make sure you ask your bank

Hope this helps - unfortunately unless you ask the right questions they are useless most of the times

Regards

boomshakalaka

Thanks og2k7!

I was on to KBC again, no "fast" transfer method, even though I'm willing to pay for it. Seems like a major flaw, although if I needed a smaller amount of money transferred quickly I'd do Revolut to Revolut.

Anyway, so I rang the car dealer to see what he thought would be best and he said he'd give me the details on the day for an electronic bank transfer. He's not worried about it hitting his account immediately but I said I'd try and come early on the day to up the chances. Compromise.

Always worth asking I guess!

og2k7

boomshakalaka wrote: »

Thanks og2k7!

I was on to KBC again, no "fast" transfer method, even though I'm willing to pay for it. Seems like a major flaw, although if I needed a smaller amount of money transferred quickly I'd do Revolut to Revolut.

Anyway, so I rang the car dealer to see what he thought would be best and he said he'd give me the details on the day for an electronic bank transfer. He's not worried about it hitting his account immediately but I said I'd try and come early on the day to up the chances. Compromise.

Always worth asking I guess!

Good to hear you got it sorted. I am with KBC myself but because they are a cashless bank i still keep my Permanent TSB for all the cheques, draft and the like

Good luck with the car

boomshakalaka

Thanks!

8k I'd bring cash.

CBear1993

Gatecrashing the thread, but a bit of a last minute panic.

My brother flew over this evening to buy a car in the UK off of a private owner.

His crap Ulster Bank shower of #### in the North told him this morning that money would be in private owners account by this evening, he paid £40 extra to do this.

Man still hasn't received money this evening, and brother was hoping to collect car, drive to boat to dublin tonight.

I am now looking at how I can get it to the owner ASAP - it's gonna be an amount of £10,500 sterling, so about €11,700 as I'll be sending it from my AIB here in Dublin.

What's my options? Under P to sort him out. Will the GIRO above work? Or is it only before 1pm?

I can try Revolut if the owner has Revolut?

And yes, I know he's a dope for flying over before it hitting the owners account,

CBear1993

CBear1993 wrote: »

Gatecrashing the thread, but a bit of a last minute panic.

My brother flew over this evening to buy a car in the UK off of a private owner.

His crap Ulster Bank shower of #### in the North told him this morning that money would be in private owners account by this evening, he paid £40 extra to do this.

Man still hasn't received money this evening, and brother was hoping to collect car, drive to boat to dublin tonight.

I am now looking at how I can get it to the owner ASAP - it's gonna be an amount of £10,500 sterling, so about €11,700 as I'll be sending it from my AIB here in Dublin.

What's my options? Under P to sort him out. Will the GIRO above work? Or is it only before 1pm?

I can try Revolut if the owner has Revolut?

And yes, I know he's a dope for flying over before it hitting the owners account,

Does the seller actually exist?

Car99

CBear1993 wrote: »

Gatecrashing the thread, but a bit of a last minute panic.

My brother flew over this evening to buy a car in the UK off of a private owner.

His crap Ulster Bank shower of #### in the North told him this morning that money would be in private owners account by this evening, he paid £40 extra to do this.

Man still hasn't received money this evening, and brother was hoping to collect car, drive to boat to dublin tonight.

I am now looking at how I can get it to the owner ASAP - it's gonna be an amount of £10,500 sterling, so about €11,700 as I'll be sending it from my AIB here in Dublin.

What's my options? Under P to sort him out. Will the GIRO above work? Or is it only before 1pm?

I can try Revolut if the owner has Revolut?

And yes, I know he's a dope for flying over before it hitting the owners account,

Friday evening , will the sellers bank accept a payment at the weekend? If the Ulster bank money has been sent how is your brother going to stop it if he pays the seller using an alternative method?
I would say your bro is stuck there till monday morning when the Ulster bank transfer arrives.

CBear1993

Deleted User wrote: »

Does the seller actually exist?

Yep, Leeds. I wouldn't post this unless I was trying to help family out in an urgent panic. Googling like mad.

boomshakalaka

I ended up paying via EFT, I transferred the money while there and emailed them a screenshot of the transaction - but that was in Ireland..

Things like Revolut, Bunq take time to top up such big amounts, usually via EFT.

Personally, if I was your brother, I'd wait until it clears maybe take another look at the car in the meantime.

Unless he has a cc with big limit and a dealer willing to pay those kinda merchant fees, waiting it out might be the only option.