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Topic: Certified check |
William Griffith
From:
Loxahatchee, FL, USA
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Posted 19 Aug 2004 3:39 pm |
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| Hello Folks, Can someone tell me if there is any hazards in taking a certified check for an item. Thanks for your help Bill |
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Tom Olson
From:
Spokane, WA
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Posted 19 Aug 2004 4:47 pm
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If the check "bounces," you'll be left "holding the bag," so-to-speak. Just because a check is "certified" does not mean that there's no possibility of any problems. For example, it could be a forgery. However, probably one of the safest bets is if you can get a certified check from a bank that has a local branch in your area. Then, if you take the check into that local branch and cash it, they will generally give you the cash right then and there and your troubles are over.
But, if the check is from a bank in Timbuctoo(sp?) or if it's one you've never heard of before, then you might want to be a bit careful.  |
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Jim Marconi
From:
Richmond IL. / Summerland Key Fl. USA
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Posted 19 Aug 2004 4:52 pm
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Hi There...yes there is danger in taking a certified check...A friend of mine took a $8000.00 hit from a false check...he told me that you must call or fax a copy of the check to the Bank posted on the check to verify if it real and that they have it posted..This is what the bank told him after he had to re deposit the the 8000.00 in his bank..He was totally sick over this scam and the Police told him this is done a lot now since the computer can make anything you want now a days...Just be careful if you don't know the parety..
Kind Regards
Jim |
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William Griffith
From:
Loxahatchee, FL, USA
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Posted 19 Aug 2004 5:16 pm
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| Hey Guys, Thanks so much for your answers, I really appreciate it. I don't want to get burned for being brain dead. Thanks Bill |
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Bobby Boggs
From:
Upstate SC.
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Posted 19 Aug 2004 6:47 pm
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| That's why I only accept US Postal Money Orders. |
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Sidney Ralph Penton
From:
Moberly, Missouri, USA
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Posted 19 Aug 2004 6:50 pm
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william there is a scam going on. look at it listed here on guitars for sale. they give you a phony check and you send them a good cashiers check for the remainder of the money left over then your held for the entire abount of the phony check. the ones that do this claim they are in england and use a @yahoo.com server. they say that a company owes them money here in the us and they will have them send you a cashiers check etc. and then they never have the guitar picked up. if you get any emails like this send it to bob. like forward it to him don't copy and paste it. they are trying to get enough against these butt heads to put them away. thanks sid
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Jim Cohen
From:
Philadelphia, PA
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Posted 19 Aug 2004 6:53 pm
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So, assuming it's not a forgery (which, I suppose could happen with a Postal Money Order too, or cash for that matter!), what exactly does a "certified check" mean? That the bank has agreed that there is money in the guy's account? Or that at the time they looked there was money in his account? Or that they are freezing those funds until this check clears? Or...? In any case, I believe, the bank is "certifying" the validity of the person's personal check, right?
As opposed to a "Bank Check", which is drawn on the bank's own account (after the person transfers money to the bank). Again, assuming it's not a fraudulent check, I would think a "Bank Check" should be pretty safe. Yes?
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Chris Lucker
From:
Los Angeles, California USA
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Posted 19 Aug 2004 6:55 pm
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| If you are with a nation-wide bank, such as Bank of America, for example, ask the guy to simply physically visit a branch in his location and deposit cash into your account. Your bank will let you know if the cash is there. The deposit will be posted in a few hours. |
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William Griffith
From:
Loxahatchee, FL, USA
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Posted 19 Aug 2004 7:05 pm
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| Thanks Guys, I guess the only way to be sure is hold onto the guitar until the check clears, that'll probably upset the buyer but o'well. I'd rather be safe than sorry. Thanks to all Bill |
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Eric West
From:
Portland, Oregon, USA, R.I.P.
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Posted 19 Aug 2004 7:13 pm
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It can also be stopped payment on by someone not worried over the consequences of doing so without merit.
Traveler's checks, and money orders are much safer. I always thought that cashiers' checks were safe, and they are DEFINITELY different from "Certified checks" regardless.
EJL[This message was edited by Eric West on 19 August 2004 at 08:15 PM.] |
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HowardR
From:
N.Y.C.-Fire Island-Asheville
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Posted 19 Aug 2004 7:21 pm
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A wire transfer of funds directly into your bank account is so far the most foolproof way of receiving money without consequences.
I don't suppose I have to say "never give out your PIN#".....so I won't say it. |
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Jim Marconi
From:
Richmond IL. / Summerland Key Fl. USA
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Posted 19 Aug 2004 8:30 pm
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Howard you are right..by far wire tranfer is the safest way...they are forgeing all types of checks now...but lets not forget there are also a lot of great people out there too.
Kind Regards
Jim |
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John Daugherty
From:
Rolla, Missouri, USA
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Posted 20 Aug 2004 2:03 am
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If you transfer funds with "paypal", the money can be instantly deposited in the account. There is a charge of ~ 3%. If I was selling an item for $1000, I would have to charge $30-$40 more to cover the expense.
Of course, both parties have to be certified paypal members. |
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Charlie Campney
From:
The Villages, FL
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Posted 20 Aug 2004 4:14 am
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What exactly is a wire transfer ? Don't you have to send them your account number? Doesn't sound safe to me.
I have used paypal a lot and have never had any problems with it.[This message was edited by Charlie Campney on 20 August 2004 at 05:17 AM.] |
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CrowBear Schmitt
From:
Ariege, - PairO'knees, - France
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Posted 20 Aug 2004 4:32 am
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nowadays i would call a wire transfer: Bank to Bank transfer - Works fine, takes about a week / 10 days
if one gets a certified check, like in most cases, it's better to wait and be credited and THEN send the merchandise off.
if the certified check is a fake, press charges
Paypal is what i use most of the time - works jes' fine |
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Nicholas Dedring
From:
Beacon, New York, USA
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Posted 20 Aug 2004 6:02 am
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Money orders are forged all the time, there have been scams involving printing forged M.O.'s, or using real ones and altering the face value numbers.
When I've had to get a cashier's/certified check, I had to have cash in hand when I did it, and pay that cash to the bank teller.
I personally feel a lot more relaxed if I have some physical proof of where the person lives or works who I'm dealing with... no P.O. boxes etc.[This message was edited by Nicholas Dedring on 20 August 2004 at 07:05 AM.] |
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Jon Light
From:
Saugerties, NY
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Posted 20 Aug 2004 6:24 am
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I used to believe that a certified check was one bank's way of telling another bank that they were signing off on it and it was ok, they'd take responsibility. But when I wanted to cash one and they said no way, you will have to deposit it I realized that if they don't trust it, why on earth would I? Seems like for the cost of getting a check certified from the bank, I'd do better saving that money and just sending a personal check and waiting for it to clear. No real difference in the end, is there?
And I too have never had any trouble with Paypal. A number of people have strong feelings against it but from my own experience I think it's brilliant, convenient and effective. |
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Bobby D. Hunter
From:
USA
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Posted 20 Aug 2004 6:51 am
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I'd like to restate my earlier statement, that if anybody does receive a certified check that turns out to be forged (bounces), you should contact your local Police and your State's A.G. If you accept a foreign, or out-of-State check, which is forged, and it came in the mail, you should contact your Post Office, and ask them to investigate a case of Mail Fraud.
The current crop of Nigerian check scams involves overpayment for goods, with a Certified Check, with you sending the balance back, usually via Western Union, to a bank in Nigeria, or elsewhere, offshore.
The crooks who are trying to scam members of these Forums are mostly Nigerians. They are using numerous remailers and various ISPs to cover their tracks. Anybody who does follow through on one of the Certified Check scams will find themselves out the full amount of the forged check. It can take up to two full weeks for a forged Certified Check to bounce. It is a good idea to contact the (claimed) issuing bank, as someone said earlier in this thread. It may save a lot of misery, or can confirm that it is legit.
Wizardo |
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Jon Light
From:
Saugerties, NY
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Posted 20 Aug 2004 7:34 am
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| Just curious---with all the Nigerian crap (I get an email offer/plea nearly everyday) and scams, it's almost universally recognized. Well, I guess not universally if people are still falling for it. Remember 60 Minutes did a piece on this years ago involving snail mail? What I'm wondering is if it is even Nigerian anymore or just any scammer hiding behind Nigerian bonafides? Although that would be kinda like forging Gypsy credentials to try to prove your trustworthiness. (big time un-PC but....) [This message was edited by Jon Light on 20 August 2004 at 08:35 AM.] |
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Jerry Clardy
From:
El Paso, Texas, USA * R.I.P.
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Posted 20 Aug 2004 7:37 am
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Just deposit it and wait for it to clear like any personal check. Then ship the merchandise.
Certified, Bank, and Cashier's checks usually clear much faster. Usually in one day.[This message was edited by Jerry Clardy on 20 August 2004 at 07:17 PM.] |
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Tom Olson
From:
Spokane, WA
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Posted 20 Aug 2004 8:28 am
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| Quote: |
| what exactly does a "certified check" mean? |
Jim, I'm not exactly sure what the difference is between a "bank check" and a "certified check" and/or "cashier's check."
But, I THINK, they're all basically the same in that the bank itself is verifying that the check is good.
So, that means (assuming that it's not a forgery) that a certified check will clear. Therefore, the only real potential problem with a certified check is knowing whether it's a forgery or not. The best way to do that is to personally present it to the issuing bank (as someone else has also mentioned above).
So, if you get a cashier's check issued from a bank that does not have a branch in your area, the only choice is to deposit it in your bank account which means that you won't know if it's a forgery until it comes back and you're bank charges you a returned check fee. Basically the same ideas also apply to money orders.
The difference between a certified check and a personal check is that even if you take a personal check into the bank on which it was drawn, you STILL won't know if it's good. In other words, if somebody gives you a check for $2,000 drawn on a Bank of America personal checking account, and you take it into a Bank of America bank, they will make you endorse the check, and will probably take your fingerprints and get a lien on your first born (and they may not even allow you to cash it, in which case, you'd have no choice but to deposit it in your own account).
But, even if a personal check is drawn on a BOA account and you take it into BOA to cash, there's still a slight possibility that it could bounce. For example, if the person who wrote the check deposited another check into his account, and THAT check was no good, then BOA might mistakenly think the funds were available at the time you cashed your check -- but they really weren't (BOA will always get their money before you get yours).
So, if the personal check ends up bouncing (even if you cash it a Bank of America) you will be liable for paying that money back to Bank of America (if you don't, you will be arrested for passing a bad check -- even if it's not your check)
But, if it's a certified check issued from BOA, and if you take it into a BOA branch and cash it, then you have absolutely no liability because the bank itself certified the check. I don't know if this helps at all. [This message was edited by Tom Olson on 20 August 2004 at 09:42 AM.] |
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Clark Frady
From:
West Columbia, S. C.
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Posted 30 Aug 2004 12:36 pm
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One of the most secure forms of payment is a Postal Money Order. They have to be paid for in CASH and can be cashed at any Post Office. However, if you get one, you can always take it to the Post Office and verify that it is legitimate before you send the merchandise. It has a watermark and a few other identifiers to prove the authenticity. When in doubt, deposit the checks, allow 5-10 days to clear the bank, and then send merchandise when satisfied. As I see this every day in law enforcement, being are getting burned all the time. Always be safe than sorry guys! Thanks...
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Clark Frady
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J W Alexander
From:
Reynoldsburg, Ohio, USA
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Posted 30 Aug 2004 2:01 pm
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I'd have to second Clark's ideas on the USPS money orders! They are nearly forgery-proof and I like his idea you verify them BEFORE sending the merchandise. I've been using them to buy and sell for a few years now with some deals being in the $2000 or more range. It's at least one other way to go!
J W |
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Per Berner
From:
Skövde, Sweden
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Posted 31 Aug 2004 8:17 am
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Wire transfers are, in my experience, very quick and safe, but for international transactions they can be troublesome. If you don't get all the little details exactly the way your bank wants them (and there are plenty needed to get a transfer through) the transfer will not work. It took me three visits to the bank to pay for my Legrande II a while back, and when I bought my new amp a little later I was finally forced to buy a bank check instead, which is also safe for both parties and a lot easier. They should usually clear in a day or two, but of course it takes some time getting the envelope across the Atlantic. The cost is the biggest downside: In Sweden, a wire transfer will cost around $10, while a bank check by registered mail will be more like $35-40.
A little delay shouldn't matter to a serious buyer - if I trust an unknown seller enough to pay him large sums in advance, I would have no trouble trusting him enough to wait while a bank check clears.
For small amounts PayPal is the best solution, IMO. |
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Ron !
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Posted 31 Aug 2004 11:57 am
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| Bank to Bank transfer - Works fine, takes about a week / 10 days |
Crowbear i do that all the time when i need parts from Canada.And when i transfer the money it will be there much quicker then the 10 days you are talking about.The fastest transfer was within 10 minutes.It will cost a little bit more but it's safe.Even more safe then a money order.
Ron[This message was edited by Ronald Steenwijk on 31 August 2004 at 01:03 PM.] |
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