Safely selling a car

Joeboy69

Joeboy69

Expert Member
Joined
Sep 30, 2013
Messages
1,593
Reaction score
197
Location
Centurion
I have a buyer flying in from PE (so I'm told) to come and look at a vehicle I'm selling in Centurion. If he likes it he will EFT. I settle with bank and we get the ownership papers to him.

But what precautions should I take to KNOW that I really received the money? Will likely receive the SMS notification but think I should insist on the email notification from bank? We are both at Standard so could have it the following day? Maybe also call the bank once I have the email?

I don't want to wave him goodbye and then the transaction gets reversed :-(
 
Does SB have online payment verification like FNB?
 
Joeboy69 said:
I have a buyer flying in from PE (so I'm told) to come and look at a vehicle I'm selling in Centurion. If he likes it he will EFT. I settle with bank and we get the ownership papers to him.

But what precautions should I take to KNOW that I really received the money? Will likely receive the SMS notification but think I should insist on the email notification from bank? We are both at Standard so could have it the following day? Maybe also call the bank once I have the email?

I don't want to wave him goodbye and then the transaction gets reversed :-(
Click to expand...

If you both bank with STD Bank the money will clear same time regardless of the time the transfer was done, this is the case with other banks.
 
Settling with the bank and getting the papers will take at least a week which is enough time to make sure it cleared.

So if you can't transfer it to the bank to settle then he can't get it anyway so there isn't really much risk involved.

And you can't transfer unless it's cleared.
 
Just an update: They settled and Stannic sent me a zero invoice. They transferred to me, my banker confirmed the money is legit and I transferred into my savings. All done.

Thanks for advice. Now trying not to go to the Audi or Motorbike threads
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X