buying a car on a credit card...what protection?

[Chompers]

[quote=""storminmike""][quote=""X5Sport""]Only ever paid my deposit via CC. My credit limit isn't good enough to buy the whole car. The Dealer did say that they would charge 3% on my X6 if I paid with a CC. Using a debit card was a mere £0.41p which they didn't charge for..

CHAPS payments are same day, there is a faster system which will move the money within 15 mins - there is usually a charge for the fastest systems. Doesn't work at weekends though, and must be before 3pm on a weekday. Tother half used to work in the finance sector and has just hedukated me.. [/quote]

CHAPS...never heard of that

Debit card would no doubt make the bank wake up....and be as protectionless as cash...which I was hoping to cash in on so to speak[/quote]

Always a good idea to contact the bank before hand if you are going the DC way. Have sold many cars in the past where customers have used DC's to pay and it has taken an age to go through.

Those keypad things are very easy to use once you get the hang of it

[storminmike]

[quote=""Chompers""][quote=""storminmike""][quote=""X5Sport""]Only ever paid my deposit via CC. My credit limit isn't good enough to buy the whole car. The Dealer did say that they would charge 3% on my X6 if I paid with a CC. Using a debit card was a mere £0.41p which they didn't charge for..

CHAPS payments are same day, there is a faster system which will move the money within 15 mins - there is usually a charge for the fastest systems. Doesn't work at weekends though, and must be before 3pm on a weekday. Tother half used to work in the finance sector and has just hedukated me.. [/quote]

CHAPS...never heard of that

Debit card would no doubt make the bank wake up....and be as protectionless as cash...which I was hoping to cash in on so to speak[/quote]

Always a good idea to contact the bank before hand if you are going the DC way. Have sold many cars in the past where customers have used DC's to pay and it has taken an age to go through.

Those keypad things are very easy to use once you get the hang of it [/quote]

keypad payments online....presumes the person wanting one off payment would provide required details?

[Chompers]

All you need is the sellers bank acc: number and sort coded + and ref: they may want to use

[storminmike]

[quote=""Chompers""]All you need is the sellers bank acc: number and sort coded + and ref: they may want to use[/quote]


thank you

[X5Sport]

My Account is an online only type so I've got used to doing ebanking over the years. I can set everything up from a PC except a new Direct Debit. One off direct payments take about 5 mins to set up as long as you have the details described above. Then simp,y set the amount and date to leave your account and that's it. If both banks are on the Fastpay system then the money typically moves between accounts and banks the same day (usually on an overnight update). More and more banks, credit card and other financial groups are moving to Fastpay.

It used to take between three and five working days to move money. All this really meant was that the banks made money on the interest - a lot when you consider just how much money moves about every day - and the customer gets no benefit. Strangely it took Government pressure to force these institutions to make the changes to the faster system.

The Security Questions will usually be the one that so many companies use such as your Mother's maiden name, or ones you have agreed with your bank which only you and they know.

When you are setting up a payment on line make treble sure that you have all the right numbers entered. Once it's gone, it's gone, and if you got a digit in the Account wrong so it goes elsewhere you may not be able to recover the amount. The other Account Holder is not legally obliged to give the money back. Most will, but some will refuse.