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[stupot]

A colleague at work has just sold his bike to a dealer. It is a proper main dealer not an independant one.

He has paid the money via a online transfer. The man said this was done last Wednesday, so far nothing has shown up on his account. The dealer has double checked the sort code and account number and all the info was correct.

Not being a finance person, how long should a bank transfer take to clear? some people say 3-7 working days.

He is getting the proper ump now, what would be an appropriate next step to take, 7 working days would be this Thursday/Friday.

[arek PL]

If he has sent the money should be able to give transaction ref number.

[jonah]

get him to call his bank they should be able to tell him wether or not there is anything pending in his account.

[Andy J]

Almost all banks run 'faster payments' processing which moves funds in hours and not days, albeit they set their own value limits for the service. Beyond that it should definitely be seen in his account a week later

I would speak to the dealer to find what they have done here as they can call their bank to get an explanation of what has happened

 

[docta13]

defo worth a word failing that maybe a baseball bat and a can of petrol will do the trick?? 

[roy]

the bank will have all the  bank transfer info so it cant get lost ....your probably find its bike shop thats fooked it up

[docta13]

seriously though i think that u will find that the dealers like to hold on to stuff, ie your bike till its sold you will prob find that they had already sold it so the money wasnt actually being paid by them hence the hold,
but believe u me they will never tell u that!!!!
u just got to keep chasing

[stupot]

Just spoke to him, it went in today. The bank said that because it was  a large sum of money it took a few more days than usual. They hav eto do checks to make sure it isn't laundered money.