Taking Payments to Sell Cars
When you sell cars, you will be faced with a range of options that people try and pay you with. You need though to make sure that it is a legitimate form of currency. Cash is king, although you may have trouble banking large amounts of cash with your bank, money laundering regulations do make them suspicious. You can take CHAPS or BACS payments although you need to check with your bank that the money has come in. Likewise with bank drafts, you need to check that they are valid, cheques will also need to be checked that they are valid. The only method that should be accepted if you sell cars to someone abroad is through an irrevocable Western Union or Moneygram payment.
