Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Bank draft

Options
  • 26-01-2024 10:40pm
    #1
    Alerium
    Registered Users Posts: 185 ✭✭Alerium


    Hello

    I sold my car yesterday and the buyer gave me a bank draft (and I gave him the car). We bank with different banks. I lodged the bank draft today and the amount appeared in my account however I understand I can’t use the funds until they clear which takes up to 5 days. My question is, is there any way the draft can now be cancelled by the buyer of the car or are funds guaranteed to clear? Is it possible for the buyer to go to his bank cancel the draft (keep the money) and the car, effectively stealing it?

    Thanks



Comments

  • Options
    #2
    Albert Angry Instep
    Posts: 0 ✭ Albert Angry Instep


    No. they are paid upfront and guaranteed to clear. The buyer can’t cancel it.



  • Options
    #3
    Atlantic Dawn
    Registered Users Posts: 82,776 ✭✭✭✭Atlantic Dawn
    M


    I believe the only way it could be cancelled would be if they physically brought it back to their bank.



  • Options
    #4
    Alerium
    Registered Users Posts: 185 ✭✭Alerium


    Thank you both!



Advertisement