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I don't really see people doing this in the UK anymore. Cars can be bought with a debit card if you have the funds, sometimes a call to the bank is required for
by thorin 5y ago
I don't really see people doing this in the UK anymore. Cars can be bought with a debit card if you have the funds, sometimes a call to the bank is required for verification.
When I've bought 2nd hand kayaks from someone's home, I've been able to transfer the money on my phone through the banking app and they've seen the funds arrive in seconds. Is this not the case in the US?
- sokoloff 5y agoEvery secondhand item I've bought or sold on Craigslist (including a car bought and a car sold) was transacted in cash (literal banknotes). There is 0.0% chance that I'd consider paying or accepting anything else as it's just not the normal practice, meaning the risk of fraud is much higher.
- nly 5y agoThe US banking system is still dog shit by comparison to the UK/EU. That said, Faster Payments in the UK are not guaranteed to be instant and can take up to 2 hours. Also, some banks will arbitrarily downgrade them back to slow old BACs if it flags up as risky on their systems or if it's someone you haven't sent money to before. In general I agree it's not a problem though, you're not going to let the buyer take the keys until the money is in your account.
- rahoulb 5y agoI did this a couple of months ago (in the UK) - bought a car and did the bank transfer on my phone, sat in the guy's front room. However, I did need to borrow his card reader/code generator thing - put my card in, enter the PIN and the amount and then type in the code it generated into my phone to authorise the transfer. Presumably because of the large amount going to a new payee.