Cashiers check
12-03-2007, 02:54 PM
#11
Senior Member
DYNO OPERATOR
Join Date: Apr 2006
Location: North Georgia "GODS COUNTRY"
Posts: 538
Since cashiers checks are in the discussion I want to add my story...Bought a car and was to send the seller a cashiers check which I did...I found out he did not own the car...I went to my bank to see what could be done...Was told if I suspected fraud then I could sign a form and payment on the check would be stopped and they would hold my money for 30 days til all was done and over...The seller acted real PO but I knew he was trying to steal my money and when I told him I knew his conversation came to an end...So please be careful with cashiers checks from that stand point...
12-03-2007, 05:40 PM
#13
Senior Member
RACING JUNKIE
Join Date: Mar 2003
Location: Ohio
Posts: 936
You need to understand that a bank is required by law( due in part to revisions of the Patriot Act following 9/11) to keep log of all money orders/bank checks that are done for over a certain dollar amount(not as large as you may think). There is a lot more involved as part of Bank Secrecay Act that accounts for money trails. Bottom line, get the check, call the bank and verify the records. If they have it on their data log, it is good.
12-03-2007, 09:13 PM
#14
Senior Member
MASTER BUILDER
Join Date: Mar 2003
Posts: 127
Tips for taking cashiers checks/ bank drafts/certified checks. 1/ talk to your bank before the person shows up to pick the car up. 2/ you and the buyer drive to your bank give them the check and have them verify that the check is good. The bank verifies that the check is good for the amount that it is written for... Remember the bank has a vested interest in you as a customer, loans morgage, credit cards etc and if you loose a car and spend the cash it could ruin you so they will be willing help screen some of the cheaters in the world for you..
12-04-2007, 06:02 AM
#15
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MASTER BUILDER
Join Date: Mar 2003
Location: Dothan Al.
Posts: 166
The guy that lost his Firebird was from Alabama wasn't he? Did he ever find anything on his car? Italked with him one time but lost his number. If you think a cashiers check means the money is there, I have a stack of them that are no good. They look just like the real thing the only difference is the bank routing number, other than that the bank could not tell the difference.
Steve
Steve
12-04-2007, 08:16 AM
#16
Senior Member
DYNO OPERATOR
Join Date: Oct 2004
Location: florence ky
Posts: 498
That is true but if you call the bank that it is drawn on and give them the info they can tell you if it is a good check or not .
And if the person holding the check don't want to give you that info then more than likely it is fake.
I have done it a few times just ask the person for the bank it is drawn on and the check no# and his or her name and make the call.
I cant believe people would transfer money into someones account before they have checked out what they are buying it could be very hard if at all to get your money back if the deal fell thru.
I had a guy in Chicago that wanted cash only for his car 28000.00
Now I'm not going on the road for hours and hours carrying that kind of cash to many thing's could happen .
and i told him the same thing but he didn't want to deposit all that at one time and you all know why needless to say we didn't do the deal .
And if the person holding the check don't want to give you that info then more than likely it is fake.
I have done it a few times just ask the person for the bank it is drawn on and the check no# and his or her name and make the call.
I cant believe people would transfer money into someones account before they have checked out what they are buying it could be very hard if at all to get your money back if the deal fell thru.
I had a guy in Chicago that wanted cash only for his car 28000.00
Now I'm not going on the road for hours and hours carrying that kind of cash to many thing's could happen .
and i told him the same thing but he didn't want to deposit all that at one time and you all know why needless to say we didn't do the deal .
12-06-2007, 03:38 AM
#18
Senior Member
DYNO OPERATOR
Join Date: Feb 2006
Location: VA Hospital, Dallas, Tx (214 302 1924) cell-972-464-7400
Posts: 540
There is only two sure fire ways to not get took.
1st
If you give your bank account routing number and account number to anyone you better know 10000000% they are honest. You just gave them the method and the authority to wipe out your bank account completely. The only other number they need is to find out what the last check you cashed number is. Easy to get. I got ripped for several, thousand dollrs years ago by electronic check withdrawals overnight.
The way to protect against this has alredy been told. Open up a piggyback separate account with a minimum deposit and use that to receive bank to bank transfers. That is how many of my out of town customers pay me.
Or if you trust Pay Pall you can do that too. That is another way my out of town customers pay me and PayPal processes credit cards so you can take payment by card too.
US Postal Money Orders are still good as gold. You can get those up to $1,000 each.
Any other money order, cashier's check or personal check, most banks now, at least here will not pay you on for appx 10 dfays to 2 weeks until they are finally cleared and are certified as good.
Too many banks and bank customers have been burned on the cashiers check scam and are scared to accept them at face value now. The thieves ahve gotten so good that even when the bank calls to verify the cashier's check and it is good, later the check comes back as not accepted and the bank bills your account for the amount. That is even after they first accepted it. You are the one that gets hung, not the bank.
I refuse even cashier's checks. Takes me too long to get paid.
A Bank Draft is another sure fire way to accept paymnet for a car too. Talk with your banker about how a bank draft works. Car dealers many times pay by method of a bank draft.
Ed
1st
If you give your bank account routing number and account number to anyone you better know 10000000% they are honest. You just gave them the method and the authority to wipe out your bank account completely. The only other number they need is to find out what the last check you cashed number is. Easy to get. I got ripped for several, thousand dollrs years ago by electronic check withdrawals overnight.
The way to protect against this has alredy been told. Open up a piggyback separate account with a minimum deposit and use that to receive bank to bank transfers. That is how many of my out of town customers pay me.
Or if you trust Pay Pall you can do that too. That is another way my out of town customers pay me and PayPal processes credit cards so you can take payment by card too.
US Postal Money Orders are still good as gold. You can get those up to $1,000 each.
Any other money order, cashier's check or personal check, most banks now, at least here will not pay you on for appx 10 dfays to 2 weeks until they are finally cleared and are certified as good.
Too many banks and bank customers have been burned on the cashiers check scam and are scared to accept them at face value now. The thieves ahve gotten so good that even when the bank calls to verify the cashier's check and it is good, later the check comes back as not accepted and the bank bills your account for the amount. That is even after they first accepted it. You are the one that gets hung, not the bank.
I refuse even cashier's checks. Takes me too long to get paid.
A Bank Draft is another sure fire way to accept paymnet for a car too. Talk with your banker about how a bank draft works. Car dealers many times pay by method of a bank draft.
Ed
