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Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:04 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?
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HereSince1628 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:05 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.
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Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:06 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.
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peace13 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:17 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. Peace, Kim
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TeeYiYi Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 01:44 PM
Response to Reply #6
22. If it's an 'in person transaction' . . .
. . . ask them to cash the check themselves and bring cash.

TYY
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Rex Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:05 PM
Response to Original message
2. There should be a watermark on the check and accept only a well
known companies check.
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CBGLuthier Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:06 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.
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havocmom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:06 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.
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Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:09 PM
Response to Reply #4
9. Hadn't thought about calling my own bank yet.
Thanks that's what I'll do. :)
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Prisoner_Number_Six Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:06 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.
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Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:07 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.
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Lone_Star_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:17 PM
Response to Reply #5
13. This is what my bank said as well
Edited on Mon Apr-21-08 12:18 PM by Lone_Star_Dem
I guess this is the route I'll be taking except calling rather than taking it there.
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Cronus Protagonist Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:06 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.
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Lex Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:14 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.

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slackmaster Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:18 PM
Response to Reply #7
14. Correct
:hi:
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matt819 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:34 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.
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mahina Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:14 PM
Response to Original message
10. Why do they want to pay with cashiers check?
Edited on Mon Apr-21-08 12:15 PM by mahina
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.
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Prisoner_Number_Six Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 01:26 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.

:shrug:
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mahina Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 03:05 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.

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Medusa Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 03:10 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.
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Tangerine LaBamba Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:18 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.
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RaleighNCDUer Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 03:13 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.
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Tangerine LaBamba Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 03:19 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.
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hisownpetard Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:20 PM
Response to Original message
16. I'd suggest cash only, just to be safe.
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Ellipsis Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:21 PM
Response to Original message
17. Why not do a wire transfer ... there's a fee but considering your concern, well worth it.
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peacetalksforall Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 12:43 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).


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TreasonousBastard Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 01:40 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?

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NightWatcher Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-21-08 03:08 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
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