Hemi300c
Honorary Master
And then his buddy inside the bank will reverse it.
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Selling a vehicle via EFT
- Thread starter grim101
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He is 400km from his hometown. Will be paying with his phones online banking. Then will wait till I am satisfied that the money is in my account.
Can always just put the money in a side account when it shows.
He still have to wait for registration documents that I must get from the bank
Maruti.learns2rock
Well-Known Member
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We were talking about this today at work, can a payment like that be reversed. Imagine buying R4000 grocery at PnP and my cousin at capitec Bank help me and we reserve the money.
Not sure but I think ONLY debit orders can be reserved, eft and store purchases can't be reserved.
I would still phone or contact bank if this is something that is taking place over an hour or two.
Will do!
If you are able to shift the money to another account, then that should be a good indication the funds are "real". Although, even when I shift money between my own bank accounts that appear instantly, there is always a little caveat that says it can take a day or two for money to shift. Always think that this is the bank covering themselves - and this is between my own accounts!
what is the name of the person "buying" your car?
does your buyer go by the name of Daniel?
I actually missed this - "ABSA to FNB".
Not a chance would I let this dude come near my car if he expects to take it away immediately.
SauRoNZA
Honorary Master
More confusing is that he wants to take it away immediately without the paperwork being delivered from the bank.
That’s a much bigger red flag.
Not Daniel.
Sold a lot of vehicles cash and then send him registration documents after I received them.
You can't expect him to pay me and after 7 days come and fetch the vehicle. How does he know that I won't disappear with his money?
Sold a lot of vehicles cash and then send him registration documents after I received them.
You can't expect him to pay me and after 7 days come and fetch the vehicle. How does he know that I won't disappear with his money?
SauRoNZA
Honorary Master
Of course you can. Have done it a number of times.
He is the one who wants to EFT, so it’s his problem.
But sure if you want your car stolen...
For that matter the same applies if he doesn’t have the papers. He doesn’t own a car until he has those so it’s basically the same thing.
So you pay someone you don't know but don't want me to trust a guy that does a payment infront of me?
Who says I'm not the bad guy?
SauRoNZA
Honorary Master
silkenphoenixx
Senior Member
I'm generally satisfied with an EFT, I just check on the bank account that it's not shown as "pending credits". Doing an EFT in the bank branch or at my place usually works.
Last vehicle that I sold I actually did for cash, it was an old 180cc motorbike though... but when I've done it in the past I've done an EFT in the bank branch.
Last vehicle that I sold I actually did for cash, it was an old 180cc motorbike though... but when I've done it in the past I've done an EFT in the bank branch.
Payment was made in front of me using immediate payments. It states it takes 1 too 2 hours to clear.
After about 50min the payment came through and I could then pay it to a different account of mine.
All went well. Thanks for the help.
After about 50min the payment came through and I could then pay it to a different account of mine.
All went well. Thanks for the help.
Be very careful, once we had an eft payment into our business account reflecting and usable. Two days later it was reversed as fraudulent and we did not get it back. Police are useless with cyber / eft fraud as well.
These days we don't release large transactions without a 3 day clearance after reflection.
These days we don't release large transactions without a 3 day clearance after reflection.
Brieuse
Expert Member
Cash is king
