dumb lonely primitive wants to verify a check

[franksolich]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3187512

Lone_Star_Dem  Donating Member  (1000+ posts) Mon Apr-21-08 01:04 PM
Original message

How do I verify a cashiers check?
   
I have a person who is wanting to pay me with a cashiers check for an item I'm selling. It will be almost $9,000 dollars. I'm wondering how exactly I find out if it's a good check and not a fake one?

Anyone here know?

One assumes, in the spirit of the primitive theology, that the dumb lonely star primitive expects to donate the proceeds of that sale to the poor.

HereSince1628  Donating Member  (1000+ posts) Mon Apr-21-08 01:05 PM
Response to Original message

1. Take it to your bank and tell them the story, they can run the routing numbers
   
Don't ship until you know you have a good check.

Lone_Star_Dem  Donating Member  (1000+ posts) Mon Apr-21-08 01:06 PM
Response to Reply #1

6. Thank you.
   
It's going to be an in person transaction so I'll take them with me to the bank. I'm just a little nervous about this whole thing.

peace13  Donating Member  (1000+ posts) Mon Apr-21-08 01:17 PM
Response to Reply #6

12. Call your bank first.
   
There may be a waiting period for the check to clear. The crooks have gotten pretty fancy.

eeYiYi  (1000+ posts) Mon Apr-21-08 02:44 PM
Response to Reply #6

22. If it's an 'in person transaction' . . .
   
. . . ask them to cash the check themselves and bring cash.

Rex  (1000+ posts) Mon Apr-21-08 01:05 PM
Response to Original message

2. There should be a watermark on the check and accept only a well known companies check.

notmypresident  (1000+ posts) Mon Apr-21-08 01:06 PM
Response to Original message

3. Anymore, you can't
   
Except maybe by taking it to the bank where it was issued and cashing it there.

Lately the "cashier check" has been the tool of choice for scammers and forgers.

havocmom  Donating Member  (1000+ posts) Mon Apr-21-08 01:06 PM
Response to Original message

4. I would think one would inquire as to which bank the buyer will purchase it from and call them.

Shouldn't be necessary, BUT with all the check printing paper and ink available for your home printer, it is probably good to double check.

Call your banker and inquire as to the safest way to proceed.

Lone_Star_Dem  Donating Member  (1000+ posts) Mon Apr-21-08 01:09 PM
Response to Reply #4

9. Hadn't thought about calling my own bank yet.
   
Thanks that's what I'll do.

Prisoner_Number_Six  Donating Member  (1000+ posts) Mon Apr-21-08 01:06 PM
Response to Original message

5. If it's a cashier's check it's issued directly by the bank.
   
You should be able to take it to any branch of that bank and have it verified.

Lone_Star_Dem  Donating Member  (1000+ posts) Mon Apr-21-08 01:07 PM
Response to Reply #5

8. Hmm. It's Bank of America. We don't have a branch where I am.
   
I'm back to being nervous.

Lone_Star_Dem  Donating Member  (1000+ posts) Mon Apr-21-08 01:17 PM
Response to Reply #5

13. This is what my bank said as well
   
I guess this is the route I'll be taking except calling rather than taking it there.

Cronus Protagonist  (1000+ posts) Mon Apr-21-08 01:06 PM
Response to Original message

7. Call the issuing bank and give them the number - ask if it's genuine
   
Then go to a branch of the same bank and ask for cash in return for the check. If they insist it has to be deposited, deposit it into your own account and wait for at least 10 days. Don't spend any of it. If the money is still there after two weeks, it's good.

If it's from another country. Forget about it. Insist on cash.

Lex  Donating Member  (1000+ posts) Mon Apr-21-08 01:14 PM
Response to Reply #7

11. I agree. Even with a cashier's check, deposit it and wait 10 or 11 days before proceeding to make absolutely sure the check went through THEIR BANK and ultimately PAID to YOUR ACCOUNT.

Cashier's checks can be recalled by the maker so make sure it paid, not just gave a provisional credit, to the account.

matt819  (1000+ posts) Mon Apr-21-08 01:34 PM
Response to Reply #7

18. All good points
   
I suppose anything can be scam of one sort or another, but one sure scam aspect is if the check is for more than the item you're selling and they want cash in return, in exchange for a "fee" that they would pay you. Then you can be pretty sure it's a fraud.

mahina  Donating Member  (1000+ posts) Mon Apr-21-08 01:14 PM
Response to Original message

10. Why do they want to pay with cashiers check?
   
I'd insist on cash only, personally. What advantage to the person buying to use a cashier's check?
Unless you can hold off on delivery until it clears for sure, I would make sure to get paid in cash.

If you are nervous about it, and you aren't usually nervous, listen to your feelings.

Prisoner_Number_Six  Donating Member  (1000+ posts) Mon Apr-21-08 02:26 PM
Response to Reply #10

20. A cashier's check is really the most practical way to go.
   
-$9000 is WAY too much cash to carry around for even a little while or a short distance.
-It should be guaranteed since it's written BY a BANK.
-It's a great method of assuring a paper trail for the funds.
-It beats either a personal check, a business check, or a M.O., none of which hold the same guarantee as a bank check.

mahina  Donating Member  (1000+ posts) Mon Apr-21-08 04:05 PM
Response to Reply #20

23. All true, unless it's a fake.
   
There are a million ways to forge, edit, wash, etc. cashier's checks and money orders. Just saying. 9k is a lot of cash to carry, it's also a lot of cash to lose on a bad deal.

It's a lot to lose especially if one's going ot give it to the poor.

Mystery2Me  (1000+ posts) Mon Apr-21-08 04:10 PM
Response to Reply #23

25. There has been a lot of fraud at places like Ebay with forged Cashiers checks
   
I would insist upon cash.

Tangerine LaBamba  (67 posts) Mon Apr-21-08 01:18 PM
Response to Original message

15. Get the cash
   
If the buyer is willing to go to the trouble of going to his or her bank to get a cashier's check, he or she might just as well get the cash.

Arrange to meet him at your bank - inside - and you can immediately count and deposit the cash.

It's your safest bet.

If you're nervous, that's your subconscious telling you that something's not adding up. Pay attention.

NCevilDUer  Donating Member  (1000+ posts) Mon Apr-21-08 04:13 PM
Response to Reply #15

26. OTOH, if you were the buyer would you want to meet someone you don't know, in person, with $9000 cash in your pocket?

Cashier's check protects BOTH sides of the transaction, if you can verify that it is not bogus.

Tangerine LaBamba  (67 posts) Mon Apr-21-08 04:19 PM
Response to Reply #26

27. Sure
   
I've carried larger sums around with me. I don't have any qualms about that part of the deal.

The buyer obviously doesn't trust the seller, so I think cash is the only way to go.

hisownpetard  Donating Member  (1000+ posts) Mon Apr-21-08 01:20 PM
Response to Original message

16. I'd suggest cash only, just to be safe.

btmlndfrmr  (1000+ posts) Mon Apr-21-08 01:21 PM
Response to Original message

17. Why not do a wire transfer ... there's a fee but considering your concern, well worth it.

higher class  Donating Member  (1000+ posts) Mon Apr-21-08 01:43 PM
Response to Original message

19. If the buyer is going with you to your bank - reverse it - go with the buyer to his bank and have them issue whatever clears the fastest. Wait for an all clear from your bank. Better yet turn around and ask his bank to wire transfer it to yours so you don't have to walk around with the check. May be worth the safety and time required for clearance.

Best for speed - have him bring cash and the two of you go to the post office. They may have a limit per check, however, requiring multiple checks where the bank could issue one. This would get the item into his hands the fastest. There is no reversal of balance for you to worry about.

Only accept cash in the presence of the bank or post office while the buyer waits for the post office to accept it (as valid, not counterfeit).

TreasonousBastard  Donating Member  (1000+ posts) Mon Apr-21-08 02:40 PM
Response to Original message

21. You say it's from BoA, so that should be...fairly easy to verify. Checks from branches of First Bank of Nairobi in Izefukdustan are the ones to run from.

Don't banks certify checks any more? Are there scams with certified checks?

NightWatcher  Donating Member  (1000+ posts) Mon Apr-21-08 04:08 PM
Response to Original message

24. there have been tons of scams run with cashiers checks lately even if you get credit when you deposit it, several days later they can take the money out of your account if it was found to be fraudulent. Try to get cash or a wire transfer

I dunno.

I'm still mystified as to what a primitive might have worth $9,000 in this Bush economy, the worst economy since Abraham left Ur.

[jukin]

Three chances that the DUmbass claims this transaction on his income taxes or sales taxes:

1.  None

2. Zip

3. Zero

[BlueStateSaint]

Three chances that the DUmbass claims this transaction on his income taxes or sales taxes:

1.  None

2. Zip

3. Zero

Three more:

Nix

Nada

Null Set

[DumbAss Tanker]

The advice that cashiers checks have become favored fraud instruments is correct, however the idea that the buyer can be persuaded to bring nine grand in cash is just frickin' insane, or else Lone_Star_Dem is selling crap to someone with a death wish.

[Texacon]

Methinks the dumb lonely primitive won't have to worry about claiming this on income tax.  I personally think the DLP will be regretting this particular transaction.

KC

[DixieBelle]

Way too many scams out there to accept such a method of payment unless you know the person really well and can hunt them down.

[asdf2231]

I had no idea a bong collection could be so valuable!

[BlueStateSaint]

I had no idea a bong collection could be so valuable!

Valuable to whom is the qualifier . . .