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does anyone know how muh a bankers draft costs these days please?

3 replies

mckenzie · 19/01/2009 20:21

And is that the best way to pay for a new car from a private sale?

The couple have offered to deliver the car which is very kind of them and obviously they dont want to deliver the car until the money is in the bank (or their hands). But likewise I'm not sure I want to transfer the money when I dont have the keys and the car.

DH suggested getting a bankers draft and apparently the sellers can call the bank and verify the draft by quoting its number. It just seems so old fashioned. Any advice gratefully recieved please. I'm sure the bank could tell me themselves but that would be waiting until tomorrow morning and I dont want to delay this any longer than necessary . I want my new car

OP posts:
scrooged · 19/01/2009 20:23

About £12 (natwest).

They can still cash a bankers draft without giving you the car. A bankers draft is like cash.

mckenzie · 19/01/2009 20:27

sorry, just checked website for Nationwide and they no longer issue bankers drafts but do issue Corporate cheques (which they also describe as Building society cheques). That would be safer from my point of view if I hand over the cheque in exchange for the car and the keys? But will the seller be happy with that?

OP posts:
scrooged · 19/01/2009 20:30

It's the same as a cheque but as the money's been taken by the bank to guarantee it then it's guaranteed. It does still take time to clear though.

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