Paying for a horse

[jill]

The easiest way is to pay a cash deposit to secure him and then do a transfer from your bank account to theirs - all you need is account details (sort code, account no) and it acts like a cheque, taking about 3 days unless it is within the same bank. You can pay extra (about £25 I think) to have a same day transfer, if you or the seller is keen to get the transaction done quickly, and then you possibly wouldn't need the cash deposit. If you bank online you can check whether the transaction has gone through.
You could also do a building society cheque if you have an account at one - it is drawn on the society's account so, although in theory it could bounce, in practice it never would. I'd release a horse or other item on receipt of one for the purchase price.

[jinks]

cash deposit and a bank to bank transfer via the phone

[andy]

We bought 3 last year for £7k and paid cash.
£200 deposit when we went to view (good job there was a cash point nearby) and paid the balance in cash when we collected. Received a receipt for the deposit and had receipt for the balance + Passports when we collected.
Recently we sold one for £2300 and had a cheque for £250 deposit with cash when the buyer came to see and cash for the balance. We gave a receipt for both payments and gave the passport on collection, with the passport reference on both receipts.

[julia]

I bought a horse in August. Seller wanted a deposit of £500 and I had only taken £200 in cash with me so the deposit was paid by cash and cheque. Seller was kind enough to deliver horse to me as we had no transport at the time and took the balance in cash when she delivered the horse.

[Gem & Spencer]

I paid a deposit that was 10% of the full price by cheque as it had time to clear whilst i arranged a vetting then paid the rest of the balance by bankers draft on collection - much easier and less scary that an envelope full of cash (i think seeing all the money in 'real life' might have made it harder to part with - a few numbers on a peice of paper is much easier to give away!)

[Louise C]

I paid cash but I have only bought one relatively cheap horse:-)

[js]

Cash and cheque - just let it clear first.

[jor]

Problem with cheques is they need TEN working days to clear. they can be withdrawn (even after the funds appear in your account after 3 days) which can cause all sorts of problems.
if selling I take cheques for a deposit if the buyer prefers but I insist on having 14 working days before the horse is collected/delivered and the rest in cash on delivery/pick-up.
I have, however had people pay a deposit in cash then send a bank transfer a week before the horse left.

When paying for a horse I have left a deposit in cash or by cheque, have paid final amounts by cheque, cash and electronic transfer. I have been trusted by people before, one woman allowing me to take the horse, its passport and reciept for amount paid in full even though my cheque hadnt cleared, I wasnt sure about it but it turned out she didnt have a choice as had nowhere to keep the horse as of the next day!
Have had a few hairy moments where funds didnt arrive when they should but have yet to have a distaser. I must say I much prefer to pay everything in cash, its simple and although offers less security than a cheque or bankers draft or electronic transfer it just causes the least worry!

[annahindley]

bankers draft?