How can cash deposits safely be made with a bank following the sale of an expensive vehicle?

I read with interest your answer to a gentlemen who had advertised his car via Amazon. It was surprising to read that the bank drafts and cheques were not 100 per cent reliable in securing your money even once they had been drawn upon. Therefore, how would you suggest the best way to bank funds from the sale of a car worth over £100,000? I sold a Land Cruiser recently for £20,000 and went to the bank with the buyer, to watch the teller write the bankers draft and watched the buyer sign it in front of me. I thought this was a failsafe way of ensuring the funds would go into my account. And now that banks will necessarily report and investigate cash deposits over £10,000 and not even accept cash amounts in excess of £13,000, what do you do to sell an expensive vehicle and not be duped?

Asked on 16 June 2010 by Cordwell

Answered by Honest John
That would probably be okay. It's foreign bank drafts that are the problem. See the FAQ at hjuk.
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