Options
Any way to check if a Cashier's check is legit ?
bestday
Posts: 4,242 ✭✭✭✭
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 ?
Is is there a way to verify a cashier's check as authenic, before cashing the check ?
0
Comments
-Paul
Shouldn't be much to it....
Andrew
Please visit my website Millcitynumismatics.com
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.
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
That's the best way.And do it ASAP.
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.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <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
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <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.
No Way Out: Stimulus and Money Printing Are the Only Path Left
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.
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.
The name is LEE!
<< <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
There are certain rules, but it can be done.................so watch out.
These are really like regular checks.
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
<< <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.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.