Folks sold car - question on the bankdraft

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BobbyFowler

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I'm in Oz & left my car for my dad to sell. He got a buyer yesterday who gave him 50 Euro yesterday & said he'd call back today with the balance in a bankdraft. I've heard a few scams so just that I get this correct - should my dad meet him at the bank from which the bankdraft originates & withdraw the money from there or can he go to my bank, lodge the money & get them to confirm there and then that it's gone through. Dad said the guy seemed genuine but I just want to be sure.
 
Is it possible that you could ask for a copy of his passport and tell client as you father he is following orders.
 
I sold my car and because the guy sounded like a scumbag I told him to meet me with a cashiers cheque. It was from the same bank as me so it was ok. He wanted to pay in cash and afterwards he told me he was going to "burn" me.

Good thing I asked for cashiers cheque. He was shot dead in gang crime four weeks later.

Dad can lodge money to your account or you can set up a Paypal account and transfer the money straight to you.
 
Whilst the buyer may be genuine, there is no getting away from the fact that there are known scams where fradulent drafts are used to buy cars etc that are being sold privately.

Ask the buyer to meet your Dad in the bank that is issuing the draft or at least one of the branches and ask the bank to confirm it's genuine, if he's honest, he'll be there.
 
get your dad to tell the man he wants to deal in cash..if he is not willing to deal in cash,tell him you will accept the bank draft but on the condition your dad holds the car for a few days until the draft has cleared.
this person may be totally honest...but with the amount of scams about these days its better to be safe than sorry!
 
never really understood accepting a draft for a car sale. Is it not just as easy to withdraw cash from bank as you would be there anyway getting the draft?
 
Ring the issuing bank and authenticate the draft number, payee, and amount. Simple.
 
I am not sure that I would deal in cash. If the car is being sold for a few thousand euro, the buyer might alert people to the fact that you have a few thousand in the house.

You may well have banked it, but it would not stop thieves coming looking for it.

Meet him in the bank and get the bank to clear the draft there and then.

Brendan
 
Drafts drafts drafts. It not the stone age.

Tell him to get a cashiers cheque. Easy.

Banks takes money from him or his bank account and the BANK write you a cheque for the amount.

Safe and instant confirmation you have the full amount secure in the vault of the bank.
 
Folder@ said:
Drafts drafts drafts. It not the stone age.

Tell him to get a cashiers cheque. Easy.

Banks takes money from him or his bank account and the BANK write you a cheque for the amount.

Safe and instant confirmation you have the full amount secure in the vault of the bank.
Click to expand...

For all intents and purposes, a draft is a cashiers cheque. If you walk into many banks nowadays with cash looking for a draft they insist you lodge it to a bank account and they will then debit that account when issuing the draft.

The risk here is not that the draft bounces for lack of funds, that shouldn't happen but that the draft handed over by the buyer is counterfeit, ie, printed off by criminals themselves. The banks will not honour these. I work in financial services and on a daily basis, I guarantee you, we will bounce at least one counterfeit draft
 
Meeting him at the bank and checking that the draft is okay before parting with the car is a good idea. Unfortunately there are lots of scams including counterfeit drafts going around. Better safe than sorry.
 
Cheers for the advice - Draft was issued from the AIB so dad met him at one of their branches & got them to authenticate it before passing over the keys.
 
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