What is a Virgin Credit Account cheque?
- Thread starter Globalti
- Start date
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It's basically just like a current account cheque except he's got one of those accounts that's a mortgage and current account in one.
I thought that once cleared it was fine but i too have also heard some rumour that it can then 'UNclear'.
Another option would be to just make absolute certain of his name and address by examining different forms of ID and just sue him if it bounces.
I thought that once cleared it was fine but i too have also heard some rumour that it can then 'UNclear'.
Another option would be to just make absolute certain of his name and address by examining different forms of ID and just sue him if it bounces.
- Location
- the post-brexit wasteland
credit card cheques are ones that the amount on the cheque comes from the credit card, not the bank. damn expensive to use and i'll be honest i'm not sure if they bounce if it takes the balance over the credit card limit.
could he not transfer cash to a bank account (cheaper than using the cc cheque) and raise a banker's draft from there (or pay cash)?
could he not transfer cash to a bank account (cheaper than using the cc cheque) and raise a banker's draft from there (or pay cash)?
- Location
- the post-brexit wasteland
Rigid Raider said:
as far as you're concerned yes. it will cost him a fortune in interest (which he may not know) and may well bounce if it takes the card way over an agreed limit.
how much is the car?
Rigid Raider said:
Except you have no means of telling whether his credit is good, unlike a lot of traders who take credit cards. Again, if his credit is good he can draw cash on the credit card. it would be the same charge as the cheque, which for most credit cards is treated as a cash advance anyway.
Mr Pig
New Member
- Location
- North Lanarkshire
Direct bank transfer is the best way to do it.
Play safe if you take the cheque don't hand over the car ask your bank to specially present the cheque(if they still do that) you'll pay a fee but once the bank has confirmed it is paid they can't then return it. Bankers Draft is probably safest bet though technically ...... (don't go there). Cash is good but I guess even that could have been printed in the garage! Direct payment to your bank account is good but you'll have to hand over your bank details. So take your pick! - keep the car!
Hold onto your goods until the money is actually IN your account.
If he gets all whiney about it or starts begging 'cos it's a present for me mum' stuff. Almost certain he has whipped the cheque and is pretending to be the rightful owner. I think once the cash is in your bank it is yours even if the cheque is being used fraudulently. Depends on how desperate you are to sell.
Can't beat cash. So long as it isnt counterfeit.
I had some of those damn cheques stolen when they were in the post to me and the first I knew about it was when I got a call from the CC company asking ......'had I just bought a car with it?'
Couldn't have been much of a car for £2000
You could get a brilliant bike for that.B)
If he gets all whiney about it or starts begging 'cos it's a present for me mum' stuff. Almost certain he has whipped the cheque and is pretending to be the rightful owner. I think once the cash is in your bank it is yours even if the cheque is being used fraudulently. Depends on how desperate you are to sell.
Can't beat cash. So long as it isnt counterfeit.
I had some of those damn cheques stolen when they were in the post to me and the first I knew about it was when I got a call from the CC company asking ......'had I just bought a car with it?'
Couldn't have been much of a car for £2000
You could get a brilliant bike for that.B)
OP
OP
Globalti
Legendary Member
Well he has said that we can hang onto the car until the money is in our account, which is fine with me. Now that I understand this cheque it seems it's not much different from being paid by credit card except that we don't have the card reader. On top of this we've been talking now for 2-3 weeks and I know he's a lecturer at a college in a city nearby so it's not like he'd be difficult to find if anything went wrong. The vehicle is somewhat specialised and he has a good reason for wanting to buy it - everything checks out; he has clearly researched it carefully, even to the point of telephoning my mechanic who I mentioned in my advert as willing to vouch for the good condition of the car.
