MONEY TRANSFER OPTION for the Buyer & Seller

Money transfer in private vehicle sales can be risky for both the buyer and the seller.
Do you pay before the vehicle is handed over? Do you handover your vehicle before you receive payment?

Dibz offers a safe, worry-free way to transfer funds from buyer to seller in 4 easy steps.

How it works:

• Step 1:
  Once both parties have signed the Sale Agreement, it is faxed or emailed to Dibz.
  
• Step 2:
  The buyer deposits the funds via EFT, Cheque or Cash into the Dibz account. We will check the purchase price and notify the seller once the funds have cleared / are available. (Cash deposits are not
  recommended as an additional fee for cash deposits will be charged – see below)
  
• Step 3:
  We will instruct both the seller and the purchaser that handover (of the vehicle and the registration certificate) may take place.
  Handover is only instructed once the funds in the full amount of the purchase price or an amount as agreed to in writing between both parties, is cleared and becomes available.
  
• Step 4:
  After handover, Dibz will transfer the purchase price /amount into the seller’s account via EFT.

The Fee:
This is an optional service provided by Dibz to its clients and is not included in the listing price.

Fee payable to Dibz for the MONEY TRANSFER OPTION: R350.00 incl. vat Regardless of Purchase Price

Note:
CASH DEPOSITS WILL BE CHARGED AT AN ADDITIONAL 1.05% OF THE RAND VALUE OF THE DEPOSIT – this is to cover bank charges incurred

Therefore if the purchase price/amount is: R100 000.00
The fee payable to Dibz is R350.00 for the use of the MONEY TRANFER OPTION.
BUT if the purchase price/amount is deposited into the Dibz account in cash
then the fee payable to Dibz is: R1 400.00
(R1050 for bank charges + R350 for the MONEY TRANSFER OPTION = R1400)
The Fee (plus bank charges for a cash deposit) payable to Dibz will be deducted from the Purchase Price/amount deposited into the Dibz account. Please ensure that you do make provision for this fee in your Purchase Price should you wish to make use of this option.
The Money Transfer Option form is attached to the Vehicle Sale Agreement document.

For more details or assistance:
Phone Hayley on 082 561 7116 or email: info@dibz.co.za