Any way to check if a Cashier's check is legit ?

bestday

A coin club member sold some gold eagles to a first time customer. He got a cahier's check as payment .
Is is there a way to verify a cashier's check as authenic, before cashing the check ?

notwilight

call the bank. pretty easy. --Jerry

commoncents05

Call the bank who issued it.

-Paul

Ahrensdad

Look up the bank (google is your friend). Don't use the phone number on check if one is listed, it could be bad. You then call the bank and verify the check is good.

Shouldn't be much to it....

Andrew

jmj3esq

Simple, call the bank.

segoja

That's not the perfect solution.

The check can still be cancelled from what I understand.

If the person claims fraud, they can cancel it.

A casheirs check is better than a regular check, but not as good as cash.

The other option is to take it to the bank it was drawn on and cash it immediately.

bestday

Thanks .. the coins were sold for $4,800.00, so I also would be nervous

grip

The other option is to take it to the bank it was drawn on and cash it immediately.

That's the best way.And do it ASAP.

mrearlygold

I received several bogus "certified" checks from Bank of America and didn't discover that the first in a series of them was bogus until AFTER we shipped. Thankfully I was able to stop the package from being delivered. I then personally went to a Bank of America branch here and after showing 3 of these bogus checks to the "representative", I was asked, "what do you expect us to do with these Mr Pilitowski"?

Expect? How about telling me if they are good checks or not. I was then told that there was NO WAY to even tell what state they came from much less whether or not they were good.

Needless to say when I receive Bank of America certified checks, they are held for a long time.

Wires are not revocable except in extreme instances of fraud. Next time ask for a wire.

truthteller

<< <i>A coin club member sold some gold eagles to a first time customer. He got a cahier's check as payment .
Is is there a way to verify a cashier's check as authenic, before cashing the check ? >>




Ask for known coin dealer references, not just so & so coins, but well established businesses. Then call them and ask if the customer is good for $10K. Frankly, I would rather have a personal check and hold the coins, since a bad check comes back more quickly than a bogus cashier's check. I have heard of instances were it takes a month or longer for a cashier's check to be returned.



TRUTH

PerryHall

Deposite the check and, once the check clears, ship the coins.

derryb

<< <i>That's not the perfect solution.

The check can still be cancelled from what I understand.

If the person claims fraud, they can cancel it.

A casheirs check is better than a regular check, but not as good as cash.

The other option is to take it to the bank it was drawn on and cash it immediately. >>



The reason a cashier's check is better than a regular check is because it cannot be cancelled, but it can be forged. Postal money orders and wire transfers are the only route to go. Postal money order can be converted to cash or verfified good by the post office before shipping out the merchandise.

adamlaneus

I would distrust any 'verification process' outside of actually cashing the check.

They could always say "it's good". But there is no legal recourse here. If it turns out to be bad, it's bad. The fact that they said it was good does not hold water; the person giving you that information did not have the whole story. They need to run it through the deposit process to know for certain.

19Lyds

I would be suspicious if this had not been a prearranged deal. In other words, how many folks walk around with Cashier's Checks in their pockets?

Last year, my wife advertised a car on Caraigs list which attracted a group of scammers. The deal went as far as them sending a phoney cashier's check overnight. Our bank immediately knew that it was a phoney. They DO have the capability of tracking these things down in real time so have hopefully your buddy got some legitimate identification so if it dsoes turn out to be bad, he'll have some recourse.

BTW, my phoney check came complete with color printed signatures and micro printing.

IrishMike

As a former banker I can tell you that a cashiers check can be canceled if the buyer claims fraud. As far as I know that is the only reason. Its unlikely and I have never seen it done but the possibility is there. Those who are saying that it can be canceled know not of what they speak.

coolest

Cashiers checks are treated as personal checks by my bank (Wells Fargo), they will not release more than $100 of the funds for about 3 weeks.

notwilight

<< <i>I would distrust any 'verification process' outside of actually cashing the check.

They could always say "it's good". But there is no legal recourse here. If it turns out to be bad, it's bad. The fact that they said it was good does not hold water; the person giving you that information did not have the whole story. They need to run it through the deposit process to know for certain. >>



Disagree. I have called on several cashiers checks. Call the branch it was drawn on, verify the sender is a customer, Give them the check number, they will ask you the amount and confirm it was drawn on their bank by their customer. --Jerry

segoja

I spoke with my bank today and you can put a stop payment on a cashiers check as I mentioned earlier in the thread. B of A is the bank.

There are certain rules, but it can be done.................so watch out.

These are really like regular checks.

bestday

The check was issued by Chase Bank..he called them up ..verified the check as legit. What is a good hold time before shipping out the coins?

derryb

<< <i>The check was issued by Chase Bank..he called them up ..verified the check as legit. What is a good hold time before shipping out the coins? >>



However long it takes to get the funds out of your account and into a second account.

mkman123

you should use USPS money orders they are really good!!!

shorecoll

Cashier's check return processes are manual, that's why they take so long to bounce. Fraudster's have known this for a long time. Many bank employees honestly can't tell by looking if they are fake. Take the advice on calling to verify or meet the customer at their bank and cash immediately. You need to hold them at least 30 days to be sure and customers won't be happy. Postal money orders are generally safe and have security printing features that are harder to fake.