Is this a scam, or am i atlast able to get my SV???

if i pay to fast track the cheque, apart from making it clear faster, will it help in anyother way?

[northwind]

Don't confuse your bank's clearing time with the real world- APACS- clearing time. This is giving us headaches at work like you wouldn't believe- we make funds available in a current account a day before they clear through the APACS system, so people assume they're free and clear, then sometimes the cheque bounces even though as far as they were concerned, it was clear.

It's very unusual for a late return to occur, and it's only usually allowed in the case of theft or fraud... It is possible that your bank will do further checks to ensure it won't bounce, but I wouldn't count on it unless you have it in writing that it won't.

I don't want to give you any actual advice on when it's safe, because there could be differences between individual banks... I would say 10 full working days should be enough, generally, but I'd definately check that. Speak to someone in your own branch, and try and get it confirmed with a supervisor or in writing, so you have some comeback if the monkey's talking rubbish

ok, cheers i will get onto my branch on monday morinin and cash the cheque in the afternoon. i am starting to wish i took a £200 cheque as a deposit and the rest in cash when he collected the bike, as the buyer suggested, but instead i did what i dad thought was best and took a cheque for the whole amount.

Ah well, il just keep my fingers crossed and hope the cheque clears successfully


SPeeeeDY

[MrMessy]

1) I have a 1999 SV, it is an X model on a T registration.
2) I have had bank and building society cheques for items I have sold and they normally take 4 days to clear and for the funds to be available. The person seems to be trusting you, as was said earlier 2 weeks is a long time to wait to pick up your bike.
3) I doubt if his bank will tell you much. I tried the same thing once and they would not tell me anything. All to do with confidentiallity etc.
4) The best thing to do is make an appointment to see your bank manager. I bank with the Yorkshire and they have always been helpfull, they do get it wrong sometimes but have always sorted it out to my satisfaction.
5) For the sort of money you are getting it may have been better to take cash.
6) Where are you getting the SV from?
7) I can recomend KP Motorcyles in Leeds for servicing, MOT's etc.

Yup, Black is a '99 SV, which is on a 'V' registration and is an 'X' model.

Contact the guy and say for security reasons could he have the payment in cash.

If he's honest he won't mind as he will have the funds anyway

[mattSV]

Speedy

Having worked in banking for 17 years, I would never advise anyone to accept a cheque, building society cheque, or a banker's draft in payment for goods, however all is not lost!

I will try and summarise what the issues are with cheques and drafts, however it is not that straight forward and does lead to a lot of confusion (and on the odd occasion losses by banks and customers alike).

The main issue with cheques (and drafts) is that they cannot be 'paid' until the drawer's bank has actually had the cheque back - they can then do a 'technical check' (e.g. signed correctly, not a fake cheque etc) - in reality, most cheques these days are paid without any form of technical check being made. Checks are still however made to ensure that there are sufficient funds, and the check has not been 'stopped'.

A banker's draft will only be issued when the drawer has paid for it - this 'guarantees' that the draft will not 'bounce', however if the draft is stolen or a fake, then it can still be returned - therefore, never assume that once you have a draft that you can release the goods (although many people do without any problems).

When you take the cheque to your bank, tell them that you want to send it via 'special presentation' - there will be a charge of about £10-£15 for this.

This is what should happen next:-

Your bank will send the cheque by first class post to the drawer's bank - it should therefore get there the next day.

Your bank will then phone the drawer's bank the following day (i.e. if you pay the cheque in on Monday, they will phone on Tuesday).

When the drawer's bank receives the cheque, they will undertake 'technical checks' and ensure that funds are available.The drawer's bank, must give an answer on Tuesday (assuming that they have received the cheque).

Your bank will phone and get the answer and the name of the person giving the answer - once this answer has been given, it CANNOT be changed.

Your bank will then phone you with the answer - the answer that you want to hear is 'the cheque has been paid' - if this is the answer given, then ensure that you get the name of the person at your bank who has told you the answer - it would be very unusual for them to give you the answer in writing.

There are two risks with this process:-

1) The cheque could get lost in the post - very unlikely, however if it does happen then the original cheque can be stopped and another issued (or payment made by cash)

2) Sending the cheque by special presentation will mean that the cheque gets to the drawer's account at least one day quicker than normal (assuming the post works OK) - if they are not expecting the cheque to hit their account that quickly, it might bounce. If this does happen, the cheque will be sent back to you via your bank - you can then bank it again if you wish, or get payment by cash.

If you decide to go down this route, once you have been told by your bank that the cheque has been paid then you can confidently let the goods go - if the cheque then bounces, it will be down to your bank to sort it out with the drawer's bank.

The other option is just to get the cash, and then go to your bank with the buyer and pay the cash in to your account. Your bank will then be responsible for checking that the notes are not forged - once they have gone in their till then it is their problem

The rules for 'bouncing' cheques are very clear, and cheques can only be returned for specific reasons within a specific timescale. For example, if you paid in the cheque via the normal process on Monday, the drawer's bank would get the cheque on Wednesday. The latest that the drawer's bank could return the cheque would be on Thursday. In some circumstances the drawer's bank might phone your bank to tell you that it has been returned, however this will normally only be for large amounts.

In theory, 10 days would be a reasonable time to assume that a cheque has cleared, however if the cheque has been returned (i.e. 'bounced') the drawer's bank will always send it back via first class post - therefore, if it gets lost in the post (this is VERY unusual) it could turn up weeks later. If this happens, then your account will be debited, and you will liable for the debt - if you have let the goods go then you are shafted.

My recommendation would be to do one of the following:-

1) Send the cheque via special presentation at your bank and ensure that you are given an answer of 'the cheque has been paid'
OR
2) Get cash

Either way talk to your bank first to get their advice - that way, if it goes pear shaped you can shout and scream at them

I am sure that whatever you decide to do, there will not be a problem, however I would hate for you to be one of the few unlucky people who do get stitched up.

I can understand you being cautious on this but...

He offered to pay by cash and you asked for a cheque so it doesn't seem very likely that he is trying to scam you with a forged cheque.

Originally Posted by Sid Squid

Michael's right, it goes:

'99 = X
'00 = Y
'01 = K1
'02 = K2
etc

Bear in mind that a bike can be 'last years' model when on sale early in the year, or later if the dealer's had it a while, you could easily buy an '04 bike now for instance.

It will say in the waranty book exactly what model it is, if it's available of course.

Mine is a K1 on an "03" plate

Im guessing you got leftover stock