how do you withdraw cash from a bank?...

[Klaus]

On a few occassions I have withdrawn a few thousand pounds, without prior arrangement, in cash, presenting my debit card and just to make sure my passport. No problem at all.

 

[Norm]

unless your seller wants to put it in a bank then it takes 5 days to clear still - Halifax - September 2011

But that's because Halifax aren't a proper (i.e. clearing) bank, so they have to bank with a real bank.

 

[ASC1951]

Don't carry cash, use a banker's draft, which is as good as cash for your buyer.

Only if your buyer doesn't believe in sensible precautions.

A bank draft is just a special sort of cheque, one where the the bank promises to honour it in favour of the original drawer because it made sure that there were cleared funds at the time of drawing. But it won't honour a bank draft which has been stolen or obtained by deception. The draft is usually on the bank's own account and doesn't identify the bearer, so proof of ID isn't any help to the buyer.

I wouldn't accept a bank draft unless I had time to clear it.

 

[srw]

Find someone who will accept a bank transfer rather than cash.

 

[Red Light]

Only if your buyer doesn't believe in sensible precautions.

A bank draft is just a special sort of cheque, one where the the bank promises to honour it in favour of the original drawer because it made sure that there were cleared funds at the time of drawing. But it won't honour a bank draft which has been stolen or obtained by deception. The draft is usually on the bank's own account and doesn't identify the bearer, so proof of ID isn't any help to the buyer.

I wouldn't accept a bank draft unless I had time to clear it.

You just get your bank to phone up the issuer and confirm its a valid BD when you go to deposit it. I usually do so at a branch of the issuing bank. Sorted.

 

[ColinJ]

Do you use internet banking? If so could you pay your payee directly using their sort code and account number?

I was trying to explain that to my sister the other day. We are in the process of inheriting from our late mother's estate and she was trying to get our other sister (the executor) to drive up with a big bag of cash for her!

I had visions of her being mugged on the walk to the bank.

Also - you can just imagine the money-laundering investigation that would kick in if you turned up at a bank with a carrier bag full of bank notes!

 

[Archie_tect]

I'll take that nasty carrier bag of money off your hands if it would help?

 

[Hover Fly]

Undo knot in sock, extract required number of sovereigns, job done.

 

[col]

I needed more than the 300 out of the machine one day, just went to the counter and asked for it. Give her my card and signed something, simple as that.

 

[Steve H]

Best two ways for moving larger amounts:

• Internet banking
• Telephone banking

No need to draw large amounts of cash out any more - simply move the money between accounts yourself through internet banking or phone the bank and get them to do it for you. Really large amounts will take 3 days to clear, but most transfers are now completed in less than 2 hours through the Faster Payments scheme.

 

[ASC1951]

You just get your bank to phone up the issuer and confirm its a valid BD when you go to deposit it. I usually do so at a branch of the issuing bank. Sorted.

I suppose it depends on the circumstances. That might be fine - and this was the OP's scenario - for a low-value transaction where the bearer of the draft has turned up by arrangement, because the risk of coincident dishonesty is tiny. But it would be no protection at all if the bank draft was in fact stolen. The only 100% safe course is to wait until it has cleared before parting with any asset: and you will find is standard practice if you try to buy a house with a bank draft.

 

[jamin100]

A few years ago I drew £17k out of the bank in cash with prior arrangement because I wanted the money in a different banks account on that particular day and didn't want to pay the £25 bacs fee.

Both cashiers at the bank I was taking the money from and the bank I was paying it nearly passed out with all the cash in front of them. Both were very young

 

[Red Light]

I suppose it depends on the circumstances. That might be fine - and this was the OP's scenario - for a low-value transaction where the bearer of the draft has turned up by arrangement, because the risk of coincident dishonesty is tiny. But it would be no protection at all if the bank draft was in fact stolen. The only 100% safe course is to wait until it has cleared before parting with any asset: and you will find is standard practice if you try to buy a house with a bank draft.

No point in going to the trouble of a bank draft in that case. Just write a cheque and wait for it to clear while hoping the seller isn't a scammer instead.

 

[xxmimixx]

with great sadness

 

[ufkacbln]

Balaclava and sawn-off.

How quaint and old - fashioned!