Paying for selling items privately

Mark C

Member
Location
Bedfordshire
Get the person to pay you a small amount, £1 or £5 etc to set up as an existing payee, then pay the balance at time of collection without the faff of trying to set up a new payee on the spot.
I have also heard, (about 10 years ago) of a meat processor going to collect a load of beef sides from an abbatior. Loading refused as they had run out of credit and slow to pay in the past. 'No problem we'll pay now by bacs' Bacs payment made and goods released. They had called back the money into their account by the time the loaded lorry had got to the front gate. Could be a load of BS and things different now though.
 

silverfox

Member
Location
Shropshire
Pay by cheque, at viewing
When cheque goes through collect goods

Failing that....
Buyer brings cash, inspects goods and likes them
Both of you, take a trip into town (masked up of course) to your bank
He pays his cash into your account at your bank and both of you get a receipt
You go home and he takes the goods, you issue him with a receipt to go with the bank deposit receipt
What a lot of time that would take up. Our nearest bank is 12 miles away .
Nothing wrong with BACS .
 

milkloss

Member
Livestock Farmer
Location
East Sussex
Not sure that's true. The whole point is that the bank guarantees the funds.
Besides. The point is that few people have even seen a physical bankers draft. So on that basis can be easily forged
No, that’s is how it works. Bankers drafts are written by the bank when you have the balance but there’s no guarantee the money doesn’t get drawn in the meantime.

had a ‘chap’ try to buy a lorry off us once with a bankers draft and cash sweetener. Biggest issue was they try and do the deal out of hours so you can’t ring the bank to check authenticity or pay it in till they’re long gone.
 

fenhayman

Member
Dealt with forged bankers drafts in a previous life. Offenders were using combination of copier and freehand drawing to produce them. When proffering one for a lorry load of shoes, youth not in on the scam asked the innocent vendor and victim what would happen if the draft was a forgery. Victim replied with words to the effect "If a draft bounces the whole country is fecked. Forger told me that he couldn't keep a straight face as he continued to load the shoes.
Wouldn't touch one with a bargepole.
 
If you have doubts about receiving a payment from an unknown source have a separate account just for that purpose (Think MONZO or STARLING with no O/D facility) then as soon as the money is received forward yourself from there into your main account - Any scammer will not then get chance to call it back then....

If YOU are sending the money then a £1.0 trial payment which the receiver confirms before sending the balance is excellent advice...
 

Exfarmer

Member
Location
Bury St Edmunds
If you have doubts about receiving a payment from an unknown source have a separate account just for that purpose (Think MONZO or STARLING with no O/D facility) then as soon as the money is received forward yourself from there into your main account - Any scammer will not then get chance to call it back then....

If YOU are sending the money then a £1.0 trial payment which the receiver confirms before sending the balance is excellent advice...
Does not work! If you are genuine they can pull the bank can still chase you for the money.
Just think about it, 2 scammers can work together to fraud a bank into paying money into an account which cant be retrieved.
 

Sebastian77

Member
Mixed Farmer
Location
Nottingham
Faster payment can be called back - I would not let goods go to unknowns if paid for like that

BACS (can also appear as faster payment guise) cannot be recalled once the numbers enter the payees bank account. It's the whole reason banks are 100% not interested in refunding you any money if you get scammed/tricked into doing a transfer.

Have never known it personally take more than a few minutes to go through, I know originally it had the clause "next working day" usually mentioned when doing the transfer. As others have said though, if it's a new payee you will get asked for a OTP code (usually) which is not a problem assuming it is linked to your phone, but a very large sum might get put into "pending" and need authorisation, that is different and CAN be cancelled.

(The Mrs works at NatWest)
 

roscoe erf

Member
Livestock Farmer
When buying or selling things privately what's the best method of payment for both parties?

A bank transfer as I'm aware isn't instant. I want to transfer the money to other party when I view/pick item up. Them to be 100% sure its paid.

Same with selling I want money to be in my account before it leaves farm. Be best for lorry driver to phone buyer when its being loaded and see money in my account before it leaves.
my bank it is instant
 

roscoe erf

Member
Livestock Farmer
Pay by cheque, at viewing
When cheque goes through collect goods

Failing that....
Buyer brings cash, inspects goods and likes them
Both of you, take a trip into town (masked up of course) to your bank
He pays his cash into your account at your bank and both of you get a receipt
You go home and he takes the goods, you issue him with a receipt to go with the bank deposit receipt
Jesus you make things hard
 

HolzKopf

Member
Location
Kent&Snuffit

We've got a small industrial unit in a terrace of 4. The gutters needed cleaning and I got a local chap to do it, shovelling out the cr*p and seeded acorns etc - gutty job, £200 cash for fronts and back

One unit, with a young lad in it who had agreed to share his 25%, said on collection "I don't have any cash who has cash these days? all my transactions are card or transfers - but I might have some at home, I'll have a look" Two days later he turns up with 2 crisp twenties and a tenner. "my girlfriend got it for me from a cash point"

Different days......

HK
 

mf7480

Member
Mixed Farmer
Location
Wiltshire
Pay by cheque, at viewing
When cheque goes through collect goods

Failing that....
Buyer brings cash, inspects goods and likes them
Both of you, take a trip into town (masked up of course) to your bank
He pays his cash into your account at your bank and both of you get a receipt
You go home and he takes the goods, you issue him with a receipt to go with the bank deposit receipt

That’s an awful lot of work for what could be done in 5 minutes on a mobile. IMO they should get rid of cheques ASAP- they’re an unnecessary waste of time in this day and age. Does anyone really have time to drive to town to pay in cheques any more? The few we get each year now like pylon wayleaves I find an absolute nuisance, they end up sitting on the shelf for weeks on end.
 
Last edited:

silverfox

Member
Location
Shropshire
That’s an awful lot of work for what could be done in 5 minutes on a mobile. IMO they should get rid of cheques ASAP- they’re an unnecessary waste of time in this day and age. Does anyone really have time to drive to town to pay in cheques any more? The few we get each year now I find an absolute nuisance, they end up sitting on the shelf for weeks on end.
If I get a cheque these days, I just post it to the bank with a paying in slip. Touch wood they’ve always appeared in he account a few days later.
 

fiat 9090

Member
Location
co offaly eire
Cheques may be old fashioned but they are still the most common ,I'm selling machinery for the last 20 years and 95 percent of the time it's a cheque,personally I hate cash payment of over a thousand because it's too hard to mind and count and match to invoices if you pull a leaf now and again
 

Claas launches new line of Liner rakes

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