Some banking apps have limits of how much can be transferred ,one my elderly customers can only pay £1000 per day in one transfer ,,I'm with barclays and they allow £2000 per day.
Theres probably a way to get the limits lifted ,not found out how yet
^^ This and it shows the other party you're seriousI’ve heard of it being instant 99 times out of 100, and then when you really need it to it doesn’t!
We made a purchase recently and wanted to pay on collection so wanted to be sure it would work, a friend told me to transfer £1 to the seller a day or two before going, so they were set up in my banking app, that went through fine and so did payment on the day
Pay by cheque, at viewing
When cheque goes through collect goods
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
Cheques have worked fine for a couple of hundred years. ( OK.....I know there's rubber ones ).
BACS is stressful, and not foolproof.
If I sell anything it’s cleared funds before it leaves the yard. If buyer has a problem with that it’s probably a buyer I don’t want to do business with.
if I’m buying I’m happy to pay before collecting but still amazed how many folks tell me to take it and pay by bacs when I get home. Must have a honest face.
In today's smart phone world, nothing is less hassle/quicker than BACS via mobile app. Even cash is inconvenient now, as some have said, business accounts charge to pay it in, and turning up to buy a 10k machine with a bag of cash will probably get an eye roll from the dealer and a raised eye brow from tax man.
NatWest has BACS limit of 20k for personal/50k for business.
@ACEngineering Drove past your place near Bidford today! Was surprised when saw sign
Bibford? thats miles away from me or do you mean Sibford thats a bit closer
I was out most of the day anyway, repiping a horch drill so the markers are on the tractor spools rather than the drills control box. Backwards i know but thats what they wanted.
NatWest have a habit of stopping same day transfers up to 20k without telling you!! so the money has left your account and you have sent the wagon to collect the machine but customer says not received - after loads of agro you finally get through to NatWest correct dept and they say - oh yes we stopped the transaction as part of our Fraud Prevention and we have 3 days to tell you we have stopped the transaction!!!