posted on August 14, 2003 11:38:02 AM new
Howdy all.
I've just sold a pretty expensive item that the buyer wants to send me a cashier's check for.
I was always told that a cashier's check is as good as cash, but after reading stories on this board long enough, I realize that only cash is as good as cash.
I'm not entirely up on ALL the scams out there, but what should I watch for? Can he stop payment on a cashier check? Is there a way to spot a fake?
He wants to get me the check on Saturday and pick up the stuff on Monday. I can take the check to the bank Monday morning, but there won't be time to wait for it to clear.
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Replay Media
Games of all kinds!
posted on August 14, 2003 11:46:38 AM new
he cannot stop payment on the cashier check but he can report to the bank if it is lost or stolen.
why dont you ask who is the issuer of the cashier check??
also if he is coming in person,why dont you ask for his driver license id and write it down somewhere??
-sig file -------They may have ginsu knife,but we have DING KING!!!!
posted on August 14, 2003 11:57:52 AM new
"why dont you ask who is the issuer of the cashier check??"
You mean I should contact HIS bank? Sounds reasonable if the information is on the check.
He's not coming himself. He's Fedexing the check and arranging a freight company to pick up the item.
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Replay Media
Games of all kinds!
posted on August 14, 2003 12:00:18 PM new
My bank - one of the largest- has a 30 day wait before a purchaser of a cashiers check can apply to get his money refunded so it would seem you have plenty of time to cash the check.
buyhigh
posted on August 14, 2003 12:07:15 PM new
i think you are okay-there are just too many trails ,fed exp,bank and freight company.
-sig file -------They may have ginsu knife,but we have DING KING!!!!
posted on August 14, 2003 12:12:55 PM new
It's extremely difficult to stop payment on a cashier's check. It usually has to be reported lost or stolen, and in most cases the bank will require a bond be posted before they will cancel the check. About the only risk would be a forgery, and a quick call to the issuing bank will verify if the check is legitimate.
The light at the end of the tunnel will turn out to be an oncoming train.
posted on August 14, 2003 12:28:39 PM new
if you want to be really really sure,ask him to wire transfer the money,once it is wired into your account,the money is yours.
-sig file -------They may have ginsu knife,but we have DING KING!!!!
posted on August 14, 2003 12:38:03 PM new
If he is going to pick up the stuff then why not have him bring cash when he comes? That's the only way I handle personal pickups.
posted on August 14, 2003 12:59:43 PM new
Make sure you call the issuing bank and validate the check. My father once sold his coin collection for a $5,000 bank check that turned out to be counterfeit.
