Cashiers check

[Sox]

Question for anybody.I have a guy that wants to buy my car with a cashiers check.Is there any tips for me to make sure I dont get taken.I have never recieved one before.The buyer states he does not want to carry cash. Thanks for any input.

[topsportsman1]

If he don't want to carry cash have him bank wire the money to your bank account,But never let the car go until the check clears,Beware don't set your self up for a loss of your car,and your money

[bigray]

hello.i kinda had the same deal.i live in oklahoma and the buyer was in lower S.c. so we met in atlanta where my dad lives,but before that i had him send my bank a wire trans fer in good faith.and so my bank would have all his info.also had my bank check to make sure it wasnt a brand new checking acc. and then on delivery i took his check.any way hope this helps.

[hotrodharley]

ASK HIM TO GIVE YOU THE BANK'S NAME AND LOCATION THE CASHIERS CHECK WAS WROTE AT AND GET THE CASHIER'S CHECK NUMBER..SHOULD THEN BE ABLE TO CALL THAT BANK WITH THE CASHER CHECK NUMBER AND THEY WILL BE ABLE TO TELL YOU IF THEY ISSUED A CASHIERS CHECK TO THAT GUY AND THE AMOUNT;;I'VE DONE THIS ON 2 SELLS..FIRST CASHIERS CHECK WAS FAKE..BANK HAD NO RECORD OF ISSUEING IT SO THAT GUY WAS BUSTED BEFORE HE EVER GOT HERE..THE SECOND ONE BANK STATED THAT THEY DID ISSUE A CASHIERS CHECK WITH THAT NUMBER/AMOUNT/PERSON THAT PURCHASE IT..
HOPE THIS HELPS

sorry for caps..didn't notice till done..i type with ine key at a time so takes to long to redo

[RonOwensRacing]

yep Hot rod that is correct i have sold several items like that and he shouldn't have a problem giving you the info if he does then something isnt right and the bank will tell if he got the check there.
I understand a lot of people like wire transfer but if you end up not taking the vehicle then you also have a chance of loosing your money or at the least a hard time getting it back

[Gdaddy]

i have a good friend that lost a $40,000.00 Firebird chassis car due to cashier checks and money orders being fake...in my opinion the safest way to do a transaction is to talk with your bank and let them set up a dummy account in your name and just let the banks handle the wire transfer..cost me $12.00 to do it this way..aslo by doing it this way no one get their hands on your REAL account numbers so you are protected..ive made several cash transactions, but if there are ever any reservations on either side this is the safest method..that way if there is funny business you have a paper trail to him..Good Luck

[raz1056]

I like $100 bills--beware they can be fake too!

[fastride]

make him wire the money from his bank to yours to many people making fake checks

[RonOwensRacing]

this is true but i will not wire transfer my money into some one's account for something that i have not checked out either.
And just like hot rod said if you call the bank they can tell you if they issued that check if he don't want to give that info then don't do the deal.
i have purchased large ticket items like this and had no problems at all .

[placecraft1]

Wire transfer is the only way to go, to many fake checks!!

[lotsof454sss]

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...

[mopar1968]

A cashiers check insures the money is there, that amount is set aside untill the bank recieves the check. i always use cashiers check to buy.

[shawnp]

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.

[dak697]

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..

[3dracing]

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

[RonOwensRacing]

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 .

[Gdaddy]

No..he never got the car back..and he was very careful...but if they want to get ya they will ..cash or bank wire is the ONLY ways i do business

[edvancedengines]

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

[Gdaddy]

my bank does it all for me and doesnt use my account or routing numbers..they charge me 12 dollars for any wire transaction..safer that way and then if there is a problem THEY will take care of the legals