Getting paid for a bike

[formula400]

Right guys, some one is coming to look at and buy the husky tonight , they wants to pay 1/2 cash and the rest by bank transfer or all cash tomorrow. I can not do tomorrow.

What are the risks if any by taking a bank transfer

[Wreckless Rat]

To the best of my knowledge a BACS type transfer cannot be withdrawn.

[the_priest]

Bank transfer is pretty much instant. Make sure it is not PayPal! I'd rather have bank transfer and last bike I sold was BF and money was there in a flash. So worth doing! You then avoid dodgy notes etc... and don't have to bank it.

[KungFooBob]

I've paid £25k to a dealer for a vehicle once using the 'pay someone' option on my online banking (I tried to do it on the phone app first, but there's a limit of £10k so had to borrow his computer), he didn't seem concerned.

[Skub]

It's a fairly safe way of working.

Make sure the money is in your account before handing over the keys.

[Silly Car]

Don’t hand over the keys until the bank transfer is in your account. I know it might sound like teaching you to suck eggs but until the cash has arrived you’d only have their say so...

[formula400]

Cheers for that. Good to hear it’s the best option.

Now let’s hope he does not turn up with loads of mates

[the_priest]

Cheers for that. Good to hear it’s the best option.

Now let’s hope he does not turn up with loads of mates

If there are more than six of them, call the police and report a breach of Covid 19 rules and they will be there in flash with their fine books!

[formula400]

2 Lads rocked up on a R125, transferred the money, test rode it, liked it and went on there way. Was easy.

No knifes

No more SuperMoto

[Skub]

A mate's son has a Husky supermoto and a couple of days ago the cam chain tensioner malfunctioned,the cam chain cut a hole in the casing and oil pissed all over his rear tyre. He was a lucky boy to stay on.

Maybe it was a good time to get out of your bike!

[Buckaroo]

Don’t hand over the keys until the bank transfer is in your account. I know it might sound like teaching you to suck eggs but until the cash has arrived you’d only have their say so...

Exactly, I've sold the last two bikes using bank transfer via a phone app.
No problems and safer than notes.

[Dodgy69]

Yep, giving name, account number and sort code is a "one way" transfer only and perfectly safe.