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Electronic transfers when buying or selling


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Posted

Sorry, I know this is a dull topic but wanted some advice before I part with the E21 which will probably be useful to others buying and selling.

 

A classic car dealer miles away has offered a fair price (for a dealer given margins etc) on my E21 and will make a payment electronically upfront if I get the car delivered to their address. (it's £275 plus VAT just to get it delivered...)

 

I have asked my bank to advise but wondered whether I was missing something here with regard to the safety of online payments? Can they bounce? 

 

This is not a Paypal transaction and I would never touch Paypal as they have lax security and I experienced someone buying a £300 camera from me using a fraudulent paypal account years ago. I took the money out of Paypal quick enough but Paypal still tried to come after me. I just ignored them, naturally.

 

Thanks for any input.

 

H

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