Be aware if selling goods for cash

[RichC]

I sold a car once for cash. (it was like £5k).

I asked the fella to come with me to pay straight into my bank (when branches were actually still in local town). That way, any counterfeit notes would be weeded out.

Anyway, no counterfeit notes found but was £20 short despite the seller swearing blind he had counted the money twice.
At no point had I physically touched the money so he didn't have a leg to stand on.

Not sure how practical this would be for most due to the declining number of banks but I know you can pay into most accounts via post offices. Most genuine buyers shouldn't mind doing this and should understand the reason for precautions.

Rich

 

[Popgun Rob]

I sold a car once for cash. (it was like £5k).

I asked the fella to come with me to pay straight into my bank (when branches were actually still in local town). That way, any counterfeit notes would be weeded out.

Anyway, no counterfeit notes found but was £20 short despite the seller swearing blind he had counted the money twice.
At no point had I physically touched the money so he didn't have a leg to stand on.

Not sure how practical this would be for most due to the declining number of banks but I know you can pay into most accounts via post offices. Most genuine buyers shouldn't mind doing this and should understand the reason for precautions.

Rich

You've pretty much just summarised why cash isn't great anymore.

I Just get them to do bank transfer there and then. Check my internet banking app and can see the money is in there, hand them the keys.

No risk of dodgy money, no missing notes, no having to march them to the bank.

I never even go out with cash anymore, just pay on the phone or card and it works great.

I get why trades don't like it as they can fiddle the books if it's cash but that's up to them. Walking around having to have a pocket of change rattling in my pocket is a pain.

Anyway back on topic, can the buyer still get PayPal refunded if they pay F&F.

I thought they could only raise a complaint etc if it was through the other method?

 

[Jay Butts]

Nothing personal Jay...but it's a bone of contention with me.

In the Building trades 80% of people I bump into.. whether it's on site or in merchants... prefer it.

Just seen your previous post Karl, absolutely no hard feelings mate. I get your point...

For me, personally, cash is a pain. All my local banks are closed and we’ve simply nowhere to go….

I sold my old 5 Series for part cash and ended up with £8k in 20s. Lucky for me, the motorbike dealer I had arranged to buy my new bike from the following day had said he’d take my cash as he knew the dealer I’d sold the car to… if not for him, I just don’t know what I’d have done. BTW, two of the 20’s I handed to him were counterfeit. He accepted them anyway as he told me he was insured by his bank for fake money and they would honour it.

Everything I’ve bought over a certain value over the last couple of years has been bought electronically. Cash is just no use to me…

Can’t fake E money mate!

 

[Shaggy]

When selling on here i do prefer BT or PPF&F as its easier to both parties & i don't then have to bugger about putting money into the bank but i still believe cash is king as well.
I sold my Rolex for cash to a builder who only had cash so took my money checker to his house and none of the notes were fake and the deal was done and then when i got my new watch bought it with cash except i hit their ceiling and had to pay the last £100 on the card.
I did a trade on here and took cash which i didnt count or check as i "bought" the buyer first and trusted him.
I then sold a electric scooter via facebook market place and delivered it to someone in Harehills in Leeds and got £100 in fake notes mixed in and when i took the £400 to the bank (nationwide) they found 5 fake notes mixed in but they took them and still credited 400 in my account which i am very surprised about i then called the buyer and said you gave me £100 in fake notes and he was very open to giving me the £100 back and was surprised (or seemed that way on the phone) i knew where he lived but didnt bother as the bank had sorted it.
I do the odd car boot and take my note checker there as i would say 30% are dodgy and even the £1 coins can be as well.

 

[Paynut]

As @karl66 says, it has its place especially in the building trade, However it’s “accounted” for is down to the individual, it’s gone on for years.
I travel a lot with work, hotels, restaurants etc tend not to accept cash .
I usually carry some cash, but not enough to worry about.
Online banking etc works for me with many work related transactions

 

[karl66]

Just seen your previous post Karl, absolutely no hard feelings mate. I get your point...

For me, personally, cash is a pain. All my local banks are closed and we’ve simply nowhere to go….

I sold my old 5 Series for part cash and ended up with £8k in 20s. Lucky for me, the motorbike dealer I had arranged to buy my new bike from the following day had said he’d take my cash as he knew the dealer I’d sold the car to… if not for him, I just don’t know what I’d have done. BTW, two of the 20’s I handed to him were counterfeit. He accepted them anyway as he told me he was insured by his bank for fake money and they would honour it.

Everything I’ve bought over a certain value over the last couple of years has been bought electronically. Cash is just no use to me…

Can’t fake E money mate!

I respect your opinion Jay & each to there own.

I'm not tech savvy so it's a pain from that point of view !.

All those that want to label cash user's as tax dodgers & fiddler's are way way off the mark!!!

If I disclosed what I paid in tax last year I'd make a few people's water on here.

I value my privacy & right to use the current legal tender in the way I prefer....use it or lose it as they say.
Apart from buying property & vehicles ...I use cash everywhere & anyone who doesn't except my terms of payment doesn't get my business.

Any apologies for hijacking thread.

I hope you are all super vigilant with your transactions.....

 

[Paynut]

I respect your opinion Jay & each to there own.

I'm not tech savvy so it's a pain from that point of view !.

All those that want to label cash user's as tax dodgers & fiddler's are way way off the mark!!!

If I disclosed what I paid in tax last year I'd make a few people's water on here.

I value my privacy & right to use the current legal tender in the way I prefer....use it or lose it as they say.
Apart from buying property & vehicles ...I use cash everywhere & anyone who doesn't except my terms of payment doesn't get my business.

Any apologies for hijacking thread.

I hope you are all super vigilant with your transactions.....

Not casting’s aspersions Karl, just so you know

 

[TbirdX]

I'm going on Six decades now and haven't used cash much for nigh on 30 years.
Personally, I just find it easier. Still get caught out on the very odd occasion at a parking meter or something but it's so rare now.
I can understand the folk who prefer cash, I'm just lazy and don't miss trips to the cash machine!
As far the argument of surveillance, well they've been reading your email and listening to your phone calls for years and there's always bitcoin!!

 

[bi6als]

Yup, another fan of cash here.

I was in a car showroom a couple of years ago and wanted to pay a deposit for a car with cash.... only to be told, "We don't accept cash, sir."

WHAT.... ?
My response to that was, "Well, I shall take my business elsewhere."... and I walked out.

To Hell with them if they won't accept legal coin of the realm.

More and more places dont accept cash any longer. I go to football matches and I have to pay £3 on my card for a hot chocolate at half time....not long ago they wouldnt accept card payments for less than a Tenner.

 

[Jay Butts]

More and more places dont accept cash any longer. I go to football matches and I have to pay £3 on my card for a hot chocolate at half time....not long ago they wouldnt accept card payments for less than a Tenner.

A pub in Sheffield doesn’t accept cash…. It’s only a matter of time before all retailers stop accepting it. Banking it must be an issue for them as well….

 

[Jay Butts]

Not casting’s aspersions Karl, just so you know

Likewise @karl66 we are all different mate…

I too was self employed though and ran a business for about ten years in construction as a TIG welder. I only ever had one job that paid cash… every other job was BACS transfer. So much easier paying staff, doing VAT returns and accounts as it was mostly automated through SAGE. I filled in the boxes and everything was worked out for me…

I suppose it’s just what we’re used to….

 

[ZootHornRollo]

There are plenty pubs that don't take cash around here. I just don't go to them and my mates don't go in them either. Our cash is spent next door.
Hospitality is crying about how hard they've got it. Chasing customers away won't be helping.
Ill take whatever people want to pay in...

Cash, card, gold bars or broken jewellery

It all spends.. well.it should.

 

[Jay Butts]

Have to add though @karl66 cash is better when it comes to charges. I used to pay a fortune for my bank to process and send payments. They don’t want us to use cash as they make no money.

My Mrs is a forensic accountant and has just given me a lesson on Cash Velocity.

Here is the formula…

If everyone in the entire country dealt in cash and nothing else, the financial transactions would be free leaving more cash in the economy and we’d all be better off… problems would only arise with illicit cash flowing from drugs or stolen property.

I suppose for me it’s more about convenience.

My brain hurts.

 

[Alexp]

This is a good website Bank of England with guidance on how to spot a dodgy note. It covers £10 notes as well https://www.bankofengland.co.uk/banknotes/polymer-20-pound-note