Buying / selling a horse unseen , safest payment methods ????

[treacle86]

As above really , when buying / selling a horse unseen , via email, pics, videos and vetting etc , what is safest way for both parties to complete payment ???

email or postal invoice detailing pricea and verfiying purchase and then bank transfer or cheque , to clear before horse travels ??? or paypal payment ? but then paypal has fees etc.

Thanks

 

[martlin]

I would go for bank transfer

 

[ttt]

BACs or CHAPS.
Do not accept a Bankers Draft or a cheque.
Bankers Drafts can be stolen or forged.
Cheques can take up the three weeks to guarantee they are not stolen, forged or bounced.
Sorry, don't know much about Paypal.

 

[treacle86]

how can the buyer be safe via bank transfer ? seller could just say oh thank you for this lovely money and then not send horse on its way !!
I thought sending email /postal invoice / receipt stating money for horse to be paid via bank transfer would be adequate or else by paypal . xx

 

[wonkey_donkey]

I have just sold a broodmare over the phone and unseen.
I had a deposit paid cash straight into my bank account by the buyer . . . then the remaining balance paid the same way on day the horse was collected by a transporter.
There has got to be some trust on both part's but as a seller I wouldn't let a horse off my yard without it being paid for in full.
I emailed the lady a receipt as soon as I was paid the deposit and again for the balance so if I had stolen it she could have called the police !!

 

[hadfos]

Cash deposit...either in my hand or straight into my bank account,before horse even left the yard

 

[treacle86]

thanks guys , thats kind of what i was thinking , xxx

 

[Maesfen]

A building society cheque where the branch print it out are safe too as they will only do it if there was enough funds in the account.

When I've bought unseen, I have used both a building society cheque and I also gave cash to the transporter to give to the owner on collection (not as daft as it sounds, transporter is a friend!)

 

[diggerbez]

when i sold my horse abroad the timing between vetting and horse being collected was very tight so they sent me a CHAPS payment for the full amount after i'd sent them a faxed and signed letter stating that i would refund if horse failed vetting- i kind of worked it into a receipt and put in it sold as seen etc etc

 

[ttt]

Hi MFH,
If you accept a Building Society Cheque, you are taking a risk.
As most people believe Building Society cheques are guaranteed, most people will accept them as if they were cash. I work in the industry and I would not accept a Building Society Cheque as payment.

 

[Maesfen]

Really? Not doubting you but you've certainly surprised me.
I always thought that they won't issue a cheque from your account if there isn't enough money in the account, at least I've always been asked if I have enough funds when I've asked for a cheque to be made out for me from my account. I'm talking about accounts that don't have their own cheque books of course if that makes any difference?
Or are you thinking along the lines that a BS cheque is easier to forge?

 

[Ranyhyn]

I paid for my horse via bank transfer.

 

[ttt]

Or are you thinking along the lines that a BS cheque is easier to forge? Yes. Most people accept a BS cheque as guaranteed payment, similar to cash. Unfortunately, this means certain people can take advantage of this and forge them.
You are absolutely correct that the BS will not issue a cheque unless the funds are in your account but I wouldn't take the risk. It is a real shame but just be very careful. When you are dealing with large amounts of money you can't be too careful. If you send money via BACS (Bank transfer) or CHAPS, there is an audit trail so the 'receiver' can not say that they did not receive the money and you know that the funds are in your account and cleared.
I am glad it has always worked for you, sorry to be so cautious but I would rather be safe than sorry because it only takes one person and you could lose thousands of pounds.

 

[Maesfen]

No, thank you for warning me (us)! It wasn't something that would occur to me being an honest citizen and all! I'll remember not to take one in payment for a horse then but I would still probably ask if an owner would accept one from me and not mind if they refused - except I don't plan on buying any more horses if I can help it!