Paying for a car over 10k

[AlpineF30]

Just bought an E92 M3 from a private seller.

Whats the best way to get the money to him with the least hassle.

If I use cash I need to order it from the bank and give 2 days notice, and I think transferring using my phone may raise a flag and the bank block the transction - I think the bank have a £10k limit on online transfers.

Any help would be appreciated.

 

[pablo]

call your bank and do it via transfer (2 if there is a 10k limit) but they can advise.

 

[richie_mck]

Just bought an E92 M3 from a private seller.

Whats the best way to get the money to him with the least hassle.

If I use cash I need to order it from the bank and give 2 days notice, and I think transferring using my phone may raise a flag and the bank block the transction - I think the bank have a £10k limit on online transfers.

Any help would be appreciated.

With regard to the bank blocking a large sum you can ring them before hand and say you'll be transferring x amount so they are aware and don't block it.

 

[Cooper]

Just pay using multiple transfers £10k or under. Ensure seller can take faster payments and inform your bank of your plans, job jobbed.

 

[Cooper]

3 x same advice in under a minute. That's how we roll.

 

[AlpineF30]

Cheers everyone Not picking the motor up until the weekend so will ring Nationwide so they know the score

Thanks

 

[mcmurray]

^ What they said.

 

[Lyons]

I had a handlin' last week. I recently moved to M&S bank and they have a daily limit of £10k. Ended up having to get my mother in law to transfer the rest as I couldn't sort anything else. So just check with your bank.

I used Santander and Halifax before and never had a bother with limits.

 

[Rocko]

Ended up having to get my mother in law to transfer the rest

Bingo! Change your number, half price car!

 

[Woodcutter]

I hope it was @big_pete 's white one!

 

[AlpineF30]

I had a handlin' last week. I recently moved to M&S bank and they have a daily limit of £10k. Ended up having to get my mother in law to transfer the rest as I couldn't sort anything else. So just check with your bank.

I used Santander and Halifax before and never had a bother with limits.

See that's my worry I am with Nationwide, I know there is a £10k limit but not sure if its a 10k per day or 10k per transaction

 

[AlpineF30]

I hope it was @big_pete 's white one!

Afraid not

 

[Lyons]

Mine was per day. Its an easy question to find out!

 

[Woodcutter]

See that's my worry I am with Nationwide, I know there is a £10k limit but not sure if its a 10k per day or 10k per transaction

I know Danske are £10k per transaction, so you can do as many as you like. Just be sure to speak to them beforehand so their system doesn't apply an automatic block when the first batch goes out.

 

[AlpineF30]

Mine was per day. Its an easy question to find out!

I would assume that means £10,000 per transaction

 

[andy.]

Faster Payments | Nationwide

Don’t forget to bring your card reader with you.

*edit, it says at the bottom of the page multiple payments can be made if you need to send more than the 10k limit

 

[Woodcutter]

You better change your username!

 

[Jonny_W]

You better change your username!

If everyone changed their username when they purchased a M////////////// car it would be spot the odd one out lol

 

[AlpineF30]

You better change your username!

JerezE92 ​

 

[Gaz]

Check also that the recipient can receive fast payments at their bank. Hard as it is to believe, my family's garage had to make a payment to Hursts recently for a vehicle and were told they can't accept fast bank payments (!). Took a few days to go through!!

 

[AlpineF30]

Just got off the phone to him, He said his bank is Danske. Anybody know if they can recieve faster payments?

 

[Ben P]

Yes

 

[MarkM]

See that's my worry I am with Nationwide, I know there is a £10k limit but not sure if its a 10k per day or 10k per transaction

I paid for the A45 in one transfer last April, I’m with Nationwide

 

[Cro]

Guy I bought the gtr off would only accept a bankers draft, PITA but got it written, brought with me, given to him and put into the bank there and then

 

[Woodcutter]

Guy I bought the gtr off would only accept a bankers draft, PITA but got it written, brought with me, given to him and put into the bank there and then

Went to Glasgow for my Z4MC many years ago, seller asked for a bankers draft. Landed over and he informed me he wouldn't take one, some friend had told him that he'd heard of fake Northern Bank drafts!

Ended up having to get my Mum to do two faster payment transfers for the money, she had to go into the bank to get them to help.....bless her, she thought she was never getting that money back! Lol