Paying for M3 with multiple bank transfers

[ElectricJoules]

I'm paying cash for my car (hopefully within the next month) and my bank limits the amount that can be transferred each day. So I will be transferring over several days. I intend to transfer a small amount first, then call Tesla to confirm it has been received. If that goes well I will transfer the remainder the following and subsequent days. Has anybody else done this, or plan to do it? What is the best Tesla number to call to confirm receipt of funds?
Also does the final invoice provide the sort code and account number that the funds should be sent to? Is your final Invoice number the reference you use when setting up the transfer?

 

[BogBeast]

I would go into the bank and initiate a BACS payment. IIRC there is no limit but usually a charge of 15>20 pounds. Sounds like you are using 'faster payments' which there is usually a 20k limit on. Frankly, for me, it's not worth the hassle or worry of one of the the payments going missing... I will be going into my bank (with photo is and proof of address..)

 

[Foucault]

I know my bank, NatWest, charge £23 for a Chaps payment. Not cheap but at least you know the payment will go to the right place all in one go

 

[MrBadger]

I'm intending to pay with 1p coins. Is it best to bag them first?

 

[Roy W.]

I'm intending to pay with 1p coins. Is it best to bag them first?

No need. Just use a few wheelbarrows.

 

[dst87]

Final invoice includes the sort code, account number, and account name, as well as the IBAN and BIC (should you need them).

Payment reference is the final invoice number, and terms are listed as payment in full 7 days before delivery.

There's nothing on the final invoice about splitting payments, but I can't see why it would be a problem.

You may be able to contact your bank and ask them to raise the limit for transfers so you can do it in one go. I reached out to my bank (Monzo) to ask them and they've assured me that it won't be a problem.

 

[tess19]

I'm paying cash for my car (hopefully within the next month) and my bank limits the amount that can be transferred each day. So I will be transferring over several days. I intend to transfer a small amount first, then call Tesla to confirm it has been received. If that goes well I will transfer the remainder the following and subsequent days. Has anybody else done this, or plan to do it? What is the best Tesla number to call to confirm receipt of funds?
Also does the final invoice provide the sort code and account number that the funds should be sent to? Is your final Invoice number the reference you use when setting up the transfer?

I would be interest to know if anyone has done this too.

 

[MrBadger]

In my experience, faster payments is a transaction (not daily) limit - mine is exactly £10k. So I have done many a multiple online £10k transfers seconds apart from single source to the same destination account. Once you have done first one, you don't normally need to redo chip and pin either.

It may even be possible to schedule a single large advance payment to be made with online banking and it go as a BACS payment, although I have never tried and tbh would not trust it. Time critical things when it has to be 100% right and now, I've done in branch and taken the hit on the cost - but watch out for the relevant deadlines for transfers and allow for queues that coincidentally build up around the times those deadlines are, in other words, don't leave it to your lunch break.

 

[Tony Hoyle]

I've paid 15k with a single FP transfer before now. You just need to let the bank know you're going to do it so they can temporarily lift the limit

 

[dan223]

I'm also with NatWest there is a 20k daily limit on fast payments, or you can pay the £30 odd by going into a branch and using a CHAPS payment. I believe Tesla are fine with multiple payments, I'm sure I saw someone mention it before, no harm checking with Tesla.

 

[Rooster6655]

I'm paying cash for my car (hopefully within the next month) and my bank limits the amount that can be transferred each day. So I will be transferring over several days. I intend to transfer a small amount first, then call Tesla to confirm it has been received. If that goes well I will transfer the remainder the following and subsequent days. Has anybody else done this, or plan to do it? What is the best Tesla number to call to confirm receipt of funds?
Also does the final invoice provide the sort code and account number that the funds should be sent to? Is your final Invoice number the reference you use when setting up the transfer?

You can make multiple payments its not an issue, faster payments has a limit of 100k but is dependant on the bank that usually limits the daily amount, so either wait a few days or use more than one bank account. You can contact your delivery contact or likely [email protected] once payment has been made to confirm but you need to wait 2 working days usually as their systems don't update in real time.

You get the payment details on the final invoice and use your RN number for payment.

I would go into the bank and initiate a BACS payment. IIRC there is no limit but usually a charge of 15>20 pounds. Sounds like you are using 'faster payments' which there is usually a 20k limit on. Frankly, for me, it's not worth the hassle or worry of one of the the payments going missing... I will be going into my bank (with photo is and proof of address..)

I know my bank, NatWest, charge £23 for a Chaps payment. Not cheap but at least you know the payment will go to the right place all in one go

If you double and triple check the bank details are correct get a friend to help if necessary, I can't see why you would expect the money to go missing and IMO more likely the bank cashier is likely to make a mistake than someone whose money it is.

No point in wasting money on chaps payments and you can do BACS online. If for some reason you did make a mistake with FPS this is actually reclaimable if its a genuine mistake.

 

[Jason71]

Am I right in thinking you cannot use a debit card? apart from bank transfer are there any other options?

 

[Rooster6655]

Am I right in thinking you cannot use a debit card? apart from bank transfer are there any other options?

bank transfer only

 

[MrBadger]

damn, I just ordered a couple of wheel barrows for my coinage

 

[dst87]

Am I right in thinking you cannot use a debit card? apart from bank transfer are there any other options?

I really wish you could use a debit card. I don't know why not. Charges for debit card transactions are often flat-rate and very cheap. I understand they wouldn't want to lose 1-2% on a credit card charge though.

I suspect they might be worried about chargebacks more than anything.

 

[Jellus]

damn, I just ordered a couple of wheel barrows for my coinage

Do you have VINs for them yet?

 

[6502]

I echo the let your bank know in advance and it'll be fine. Perhaps with a bit of hassle from their anti-fraud dept but that's fair enough, even reassuring.
Last year I did a couple of large transactions from a First Direct account without paying extra for CHAPS. Substantially larger than buying a Tesla.

 

[mab74]

Can I pay using multiple sub £500 PayPal payments from overseas accounts?

 

[Mr Miserable]

I foolishly believed that I would get the promised July delivery and cashed in some investments to ensure I had cash available to pay when asked. Since the investments were primariily US dollar funds I refuse to check the value now that the pound has plunged. I reckon I've lost at least 3K. What an idiot - don't tell the wife!

 

[Mr Miserable]

What an idiot - don't tell the wife!

Actually, I think she has already knows she married an idiot.