Selling a vehicle via EFT

[grim101]

I'm alive

Cash is king but it makes you feel uncomfortable for the seller and buyer.

And travelling with a R100k plus on the road is a no no for me.

 

[f2wohf]

I'm alive

Cash is king but it makes you feel uncomfortable for the seller and buyer.

And travelling with a R100k plus on the road is a no no for me.

Good to hear!

Can I hire you the day I want to sell a car cash? :crylaugh:

 

[Tman*]

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.

^^^ Be careful for larger amounts, because this can happen.

If an EFT is made its made, and can only be reversed if both parties agree to it by their respective banks. Unless of coarse it was made from a stolen bank account for example and gets flagged.

For 90% of transactions EFT should be fine, but if you dealing with larger amounts (R20k +) rather do it in the bank to be sure.

 

[silkenphoenixx]

^^^ Be careful for larger amounts, because this can happen.

If an EFT is made its made, and can only be reversed if both parties agree to it by their respective banks. Unless of coarse it was made from a stolen bank account for example and gets flagged.

For 90% of transactions EFT should be fine, but if you dealing with larger amounts (R20k +) rather do it in the bank to be sure.

Is there a way to do it in the bank to ensure that funny business doesn't happen? Surely if a person steals someone else's login details, then they can just enter those in the internet banking terminal at the bank. Can you ask the bank to verify the transaction somehow?