certified cashiers check?
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certified cashiers check?
Posted: September 07 2007 01:19 PM
 
greg miller (aka bigdude) [ View ] [ Email ] [ Car Ads ] [ Blogs ]
Three Rivers, Michigan
(269) 273-1254
 resident know it all
 
Just had a guy ask if I would take a ccc I told him no. In my mind that check would indicate that he has the money,right? I told him cash only.
 
 
Comments
 
Posted by eriq  -  09/07/2007 01:26 PM
it depends on the circumstances of the sale but in general i'd be suspicious, you have no way of knowing if that check has been forged or not. it takes up to two weeks for your bank to verify the check with the originating bank.

if the buyer is coming in person the chances that it's legit go up, if they aren't coming in person or if they are sending it to you for an amount different from the sales price or if they are "representing" someone else then run for the hills. it's a scam
StreetRodding.com Webmaster [ View ] [ Email ] [ Blogs ] [ Car Ads ] Palm Harbor, Florida
 
Posted by Italianguy63  -  09/07/2007 01:42 PM
I have heard how certified funds can be held by a 3rd party and then evaporate. But, if you are doing an arms-length negotiation.. I would assume the check to be good. Of course, it could be forged (slight chance), but if you are not sure-- Call the bank the check is drawn on. That would verify it's authenticity. In God we trust-- all others pay cash works too. MC
Speed is about how fast do you want to spend! [ View ] [ Email ] [ Blogs ] [ Car Ads ] Bartow, Florida
 
Posted by Italianguy63  -  09/07/2007 01:43 PM
OH and the answer to the question. If he has the money for a certified check, then YES he has to have available (cash) on hand.
Speed is about how fast do you want to spend! [ View ] [ Email ] [ Blogs ] [ Car Ads ] Bartow, Florida
 
Posted by Crazyhorse Rod Shop  -  09/07/2007 02:18 PM
i have a collection of them. i play along with the dumba$$ nigerians . i dont take checks or cash period. and if you think there is no funny money that will pass the pen test you best do some checking. i do money transfers through the bank only. bank has the title and the two do a swap.
dont poke the porchdog........he bites [ View ] [ Email ] [ Blogs ] [ Car Ads ] BLUFF DALE, Texas Charter Member since March 2003
 
Posted by 50pickup  -  09/07/2007 02:56 PM
The banks have a warning list of other banks around the country that have had checks forged. I got a cert. check from Wells Fargo Bank a year ago that set off all the bells & flashing lights at my bank! It finally cleared after 10 days, but it caused me some worry. I think all ccc's have a 10 day waiting period to clear. My bank likes U.S. Postal Money Orders best, they have been as good as cash.....so far. No waiting period, although I'm only talking a couple thousand dollars here.
50pickup [ View ] [ Email ] [ Blogs ] [ Car Ads ] POTTERVILLE, Michigan
 
Posted by Rodz  -  09/07/2007 03:35 PM
I don't take cashiers checks. I know an engine builder in Detroit that took one for ten thousand dollars from a customer in Canada. It was forged. No way to find the guy or collect his money.
Rodz [ View ] [ Email ] [ Blogs ] [ Car Ads ] Muskegon, Michigan
 
Posted by orphans2  -  09/07/2007 03:39 PM
Greg, how many do you want? I 'll have them printed up to night on a color laser. hehehe
orphans2 [ View ] [ Email ] [ Blogs ] [ Car Ads ] Stewartstown, Pennsylvannia Charter Member since November 2001
 
Posted by Crazyhorse Rod Shop  -  09/07/2007 03:41 PM
you lose a postal money order it is a 90 day wait before they will reissue. and they are being forged too. you want to buy my car you can have your bank send drafting orders to mine and mine will release the title to yours. i cant take a 30k hickey .
dont poke the porchdog........he bites [ View ] [ Email ] [ Blogs ] [ Car Ads ] BLUFF DALE, Texas Charter Member since March 2003
 
Posted by gman0046  -  09/07/2007 04:53 PM
First of all there is no such thing as a Certified Cashiers Check anymore. They are now called Certified Bank Checks on which payment can be stopped. When selling my last car, the Manager of my bank said one of her customers took a Certified Bank Check for a car sale on which payment on the check was stopped. He lost not only the money but the car as well. Is this day of scams everywhere its extremely difficult to consumate a sale, especially a long distance one. A local sale can be made real easy with a trip to the bank by both parties.
gman0046 [ View ] [ Email ] [ Blogs ] [ Car Ads ] Anchorage, Kentucky
 
Posted by awsum34  -  09/07/2007 04:56 PM
you can take the Cashiers Check, but tell him you are letting it clear the bank before the car goes. usally takes 10 to 15 days.


I've taken them before, but they clear the bank before the sale goes through.
awsum34 [ View ] [ Email ] [ Blogs ] [ Car Ads ] Overland Park, Kansas
 
Posted by sellersrodshop  -  09/07/2007 07:30 PM
the wife works at the bank & they see fake cashiers checks all the time.
sellersrodshop [ View ] [ Email ] [ Blogs ] [ Car Ads ] old hickory, Tennessee
 
Posted by Streetrodder007  -  09/07/2007 08:43 PM
I do Money wire transfer through the banks. No cash is ever handled, and all you need is account numbers and routing numbers,( dont worry, they cannot get into your account). It only cost me $10 to do my last one through Chase, a month ago. Its very safe. takes 1 day.
Streetrodder007 [ View ] [ Email ] [ Blogs ] [ Car Ads ] Port Huron, Michigan Charter Member since April 2006
 
Posted by hotrodgene  -  09/08/2007 11:11 AM
I have never been burned but there is always a first.I have bought and sold a lot of cars on ebay so guess I have been luckey(wife says).Most people dont care to travel with thousands of dollars in cash,but If you bank with a well known bank they are located in most citys.I agree on bank transfers and believe it to be safe.I was traveling from home to Miami area with 19K in cash to pick up a vehicle some years ago and was stopped for speeding and when I went to glove comp. for paper work for officer he saw this envelope that contand the money well you would not believe the problem that caused.
Thanks,Gene [ View ] [ Email ] [ Blogs ] [ Car Ads ] Saint Petersburg, Florida
 
Posted by bigdude  -  09/08/2007 03:53 PM
It is for sure a scam! Same address for 5 diff people.
resident know it all [ View ] [ Email ] [ Blogs ] [ Car Ads ] Three Rivers, Michigan Charter Member since January 2004
 
Posted by orphans2  -  09/09/2007 01:42 PM
I have recently read an article in Consumers Report on buying and selling on Ebay. In the article they recommend that you "avoid the use of checks, money orders and bank to bank wire transfers which are difficult to recover in cases of fraud." I would assume that would also go for all such sales, not just Ebay.
orphans2 [ View ] [ Email ] [ Blogs ] [ Car Ads ] Stewartstown, Pennsylvannia Charter Member since November 2001
 
Posted by RAM  -  09/09/2007 08:41 PM
I just had a guy trying to give me a certified cashiers check for $9900 over my price and me send it to a shipping company when i received the check h is phone number was out of las vegas beware
RAM [ View ] [ Email ] [ Blogs ] [ Car Ads ] JACKSONVILLE, Florida
 
Posted by flamin1227  -  09/09/2007 09:11 PM
I just purchased a vehicle with a cashiers check by request of the owner.The vehicle and title stayed with the owner until the check cleared.A money transfer is much quicker.If you ask for a phone # ,address and bank address and phone#, someone trying to run a scam will usually drop the deal,if not have your bank do some checking on his information.If people are on the up and up they don't mind waiting for moneys to change hands.I would not do anything outside of the U.S. and if there are multiple phone and addresses.
Frankie Bernhardt [ View ] [ Email ] [ Blogs ] [ Car Ads ] Longview, Texas
 
Posted by jimmothershead  -  09/10/2007 09:21 AM
Greg........school of hard knocks facts:
1. Payment can be stopped on cerified checks, bank checks, and cashier's checks. These instruments require the same time and clearence as a personal check. Don't believe me, ask your bank manager.
2. If I take ANY kind of bank instrument from a party in California, it will take 2 weeks to clear my Maryland bank.
3. Last year I got a flawless Bank of America cashier's check...it was counterfiet. The San Antonio Texas account actually had $28 K in it.
If buyer and seller are "afraid" of all that cash, keep the car, the keys, and the title until the check clears the bank then move it to another bank.
Other wise, CASH or a wire transfer. Wire transfer will cost both parties $15 each.
Jim said it.
Jim [ View ] [ Email ] [ Blogs ] [ Car Ads ] Huntingtown, Maryland
 
Posted by mikeco  -  09/10/2007 11:10 AM
I just had the same offer from a guy named"Tim" in las vegas.Told him to have a nice day!!!
mikeco [ View ] [ Email ] [ Blogs ] [ Car Ads ] alexandria, Virginia
 
Posted by 3340  -  09/10/2007 11:42 AM
Greg,

His Bank Works It Out With Your Bank End Of Deal.

Wayne
wayne ludwig [ View ] [ Email ] [ Blogs ] [ Car Ads ] Toledo, Ohio Charter Member since November 2001
 
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