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€4k car - cash/draft/online transfer?

  • 20-03-2021 2:08pm
    #1
    Registered Users, Registered Users 2 Posts: 1,091 ✭✭✭


    Went to look at a car recently and agreed to buy. Always did cash before but just wondering would a draft or even doing a transfer on my phone on the day be a possibility now?

    Assuming the guy was amenable to all that, can drafts be got on the day you need them from the branch or if I did transfer the cash to his account on my phone, will the balance be up to date straight away since I may not be picking the car up til after 6pm?

    Just be nice not to have to get out cash if possible....


Comments

  • Registered Users, Registered Users 2 Posts: 19,102 ✭✭✭✭Del2005


    It's up to the buyer what they want to accept, a draft is the least preferred option for a seller as they are easily faked. You can just walk into a bank for a draft, you can't change cash to a draft it has to come from your account.

    If doing a transfer if it's after IIRC 12:00 then it won't be processed till the next day. What you can do is send them €5 toady and it'll be in their account on Monday. Then when you/if you buy the car at 6pm you can send the balance as they watch and even though it'll the next day they get it you can't recall transferred using SEPA( which is why you send a small amount 1st to make sure it reaches the correct account)

    Some buyers still want cash though, it's up to the seller in the end.


  • Registered Users, Registered Users 2 Posts: 73,520 ✭✭✭✭colm_mcm


    I’d do revolut if the seller was amenable.


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