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cashiers check???

Old 04-27-2007, 11:44 PM
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Would you accept a cashiers check on a saturday? What do I look for to see if it is a fake?

The amount is for $5000, not like it is $20,000 but feels like it to me. The check would be for an atv. I told him no title untill I was sure it is good, but with no need to register them, no title will realy not hurt him.

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Old 04-27-2007, 11:48 PM
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I'm assuming you live in an area where banks are closed on Saturday.
I wouldn't do it, but if you do, I'd get info off of his driver's license and copy down the license number of his car.
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Old 04-28-2007, 02:59 AM
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just wait till monday and cash the check at his bank. They are forging those checks like crazy and the institutions are not even catching it until late.
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Old 04-28-2007, 04:40 AM
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If it's just 5000 I'd want cash. It's only 50 one hundred dollar bills. Heck even I can count to 50.
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Old 04-28-2007, 05:11 AM
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What's your gut feeling on the buyer?
Real person or sleazebag?
I took 2 personal checks for 10K each on the recent sale of my boat.
Absolutely no problems.
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Old 04-28-2007, 05:20 AM
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Default Re: cashiers check???

I accepted a cashiers (or maybe it was certified) check on a Saturday from someone that was from out of state. The person contacted me weeks ahead of time and asked me it was alright. I asked the name of the financial institution the check would be from, he replied Wells Fargo. I told him I'd get back to him. I contacted Wells Fargo on my own and asked them if there was an authentication process or number on the check and if I could call them on a Saturday to do the authentication and they replied yes. I called the buyer back and let him know it'd be alright. On the Saturday we did the transaction, I contacted Wells Fargo and everything went smooth. Note that I did not rely on the buyer to provide me with the Wells Fargo contact information. That was in '02 or '03.

I have heard since then that there is fraud being committed with regard to cashiers (or maybe it was certified) checks. So who knows, maybe I was lucky. But I think I took the proper step to authenicate the check.
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Old 04-28-2007, 07:41 AM
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Default Re: cashiers check???

I pretty much echo the above sentiments and I will tell you there are a HUGE number of fake cashier's checks circulating in TN. The banks will not even give you immediate credit when you deposit them, and they are treated like personal checks in that respect.

I personally would do what another member suggested in sizing this person up when they come to pick up your ATV. Look for plenty of ID including driver's license, vehicle registration, proof on insurance, and even make the person show you at least two credit cards with matching name to that on the other stuff. If they're in a POS vehicle and can't produce everything except the credit cards, RUN FORREST, RUN!!! If they are local, you might consider following them home before letting them take possession.

I just skimmed your post and assume you have already had contact with this person and they aren't just someone who popped out of the blue with a cashier's check in hand to buy your ATV. If the guy passes the test of info I suggested, I would personally accept the check.
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Old 04-28-2007, 07:49 AM
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Bugbuster - 4/28/2007 4:40 AM

If it's just 5000 I'd want cash.
Ditto
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Old 04-28-2007, 07:52 AM
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Call his bank and talk to them. Each bank had different policies about their checks. Some banks, such as BOA allow checks to be cancelled. Wachovia does not.
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Old 04-28-2007, 08:02 AM
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Beware.
While this check may well be legit, the fact remains that cashier's checks have become a favored scam of the unscrupulous. And if a bank should cash the check, your liability in the matter will not end there.
Should the check ultimately fail to clear the issuing institution you will be the one on the hook for the full value of the phony check.
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Old 04-28-2007, 09:01 AM
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Default RE: cashiers check???

thanks.

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Old 04-28-2007, 09:56 AM
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high life - 4/27/2007 10:44 PM

Would you accept a cashiers check on a saturday? What do I look for to see if it is a fake?

The amount is for $5000, not like it is $20,000 but feels like it to me. The check would be for an atv. I told him no title untill I was sure it is good, but with no need to register them, no title will realy not hurt him.
No, I would ask for cash instead.
If the buyer can make the trip to his bank to purchase a cashier's check, he can just as easily make the trip to his bank to pick up the cash instead. If it is all the same to him -- and it Should be all the same to him, right? -- he should be willing to pay you with cash instead.
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Old 04-28-2007, 12:35 PM
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Default Re: cashiers check???

The scam going around is to give a cashier's check for more than the value of the item being purchased and get a refund on the difference. Are you selling the ATV for exactly $5000? One thing to do would be to sell the ATV for $4999. If he has a stack of counterfeit $5000 checks, he would have trouble producing a counterfeit check for an odd amount.
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Old 04-28-2007, 01:50 PM
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Default Re: cashiers check???

Some people just don't want to carry that much cash around with them. It scares the bejesus out of em. Take the precautions and you will be fine. Or you could ask wait until Monday and you both go together, he withdraws cash then gives it to you. Good luck, hope everything goes ok.
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