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Holding monies

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  • Holding monies

    A friend who sells on ebay is thinking of selling higher value goods and offering payment terms where a deposit is paid then instalments until the items are despatched no interest charged .
    Do they need to register with any financial body or are there any other rules/laws they must follow?
    Tags: None

  • #2
    Depends (doesn't it always!)
    12 months credit and no more than 12 instalments not involving a financial product and nor charging interest/admin and no licence required


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