JMUK

Since advertising my S2K on the Autotrader site (thanks for the advice), I've had several "bids" from UK residents who have offered to pay in DM's!!!

- whilst the conversion price is well over

ianl

Hmmm....strange one!

I have heard of this happening in both Germany and Spain (in Pts) - basically it seems that some people have a good deal of 'old' currency which for one reason or another has never found its way into a bank - so it remains 'invisible' to the authorities. With the advent of the Euro a means needs to be sought to convert the money into something of value quickly - there has been a huge surge in all manner of expensive items - from home electronics to houses (and, of course, cars) all being paid in cash.

As to advice on these offers - I really would not like to say. I guess the money is kosher, though where it came from may not be.............I really do not know what I would do - sorry!

Kobe

I didn't think you could use Dm's anymore, I had to send all my Euro currency back to Belgium for Euro exchange last year!

Frenchie

This financial adviser says stay clear. If these potential buyers have DMs and they want to spend them on your car in the UK (which, let's face it, is not normal) then there's a reason and it's not one you want to be party to. Let them make the exchange to sterling and then buy your car with GBP. Why do you think the BDC's have been clamped down on?

I bet there's a lot of owners of high value cars, cars that can be quickly resold at no loss, receiving similar offers just now.

Pete

AnDy_PaNdY

This sounds very dodgy to me, I would stay well clear.

tokyo_james

If it meant I was getting more cash for the car, I would accept it and not worry where the money is coming from then again I have never been too worried if people "bend" the law slightly

Phi2k

Pardon my ignorance, but what are DMs? I understand that they are a currency but for what country, what is their worth in american dollars and why are they being exchanged?

Phi

AnDy_PaNdY

[QUOTE]Originally posted by Phi2k
[B]Pardon my ignorance, but what are DMs?

UKjasonm

Highly likely the money is from a criminal source, could be organised crime or maybe just a simple tax scam, however saying that it would be very tempting to get so much over the odds for your car.

I dont know what the implications are if you accept this money and it does turn out to be dirty cash. I wouldnt completely ignore it and would perhaps seek some further advice, try the CAB they may be able to tell you how you would stand if at some future point it was discovered that you had accepted the cash and it did turn out to be dirty.

Interesting this one.

Kobe

This post sorts out who is or isn't going to Church on Sunday