How can I be sure the check will be good?

[Torvy]

That doesn't seem right.

It is not legal. The bank does not have to cash a random check, but they are required to cash checks drawn on their bank.

 

[Midniteoyl]

It is not legal. The bank does not have to cash a random check, but they are required to cash checks drawn on their bank.

Ya. they do it around all the time on payday. They do require a thumbprint of the check casher on the check though, just in case

 

[Torvy]

Ya. they do it around all the time on payday. They do require a thumbprint of the check casher on the check though, just in case

Sure, the bank has to get valid ID on the presenter, but it is a legal instrument.

 

[Monster5601]

Over the years I've been burned every way possible from counterfeit bills embedded in banded currency to stolen bank checks forged to be cashier checks. Years of experience have taught me to only accept payment two ways, Zelle for low amount transactions or a met at the buyers' bank.

 

[workinonit]

I didn't read this entire thread but some some about this. Just be aware of large currency transactions. There's so set amount that triggers the report but large sums of money in cash either withdrawn or deposited can and will trigger a report to the IRS and FED. Not that that's a big deal but it can be.

 

[Frankenkubota]

I always wonder why it takes 5-15 days to electronically get funds into your account, but milliseconds for funds to go the other way.

it's called the float and lots of money involved.

 

[Complete Turf Care]

Zelle for low amount transactions or a met at the buyers' bank.

I'm not familiar with Zelle. And I don't think anyone has mentioned PayPal or Apple Pay. I don't use any of those, so I don't know how they would work. I do accept credit card payments, but I was hacked in March, and I'm still fighting with QuickBooks over about $2400 on that issue. And credit card charges can be disputed and the merchant usually looses that battle.

 

[hube2]

... And I don't think anyone has mentioned PayPal or Apple Pay. ...

I actually use PayPal to get paid often. I do freelance work for people all over the world and I invoice them through PayPal. Granted, these are business transactions, but actually, I would trust PayPal with something like this, although I don't know if they'll do a large amount or what the limit is on personal accounts.

 

[Handloader109]

Real money has RFID chip in it. That is why you should wrap large amounts in aluminum foil. Cops love civil forfeiture. 8000 is the going rate to get your cash back.

Wrap the foil around your head. There ain't any chip in cash...... Yes, there is foil strip, but it isn't a chip. Get real.

 

[bearthebruce]

credit card charges can be disputed and the merchant usually looses that battle.

Credit card companies only benefit if the card holder has a good experience and keeps using the card.

Merchants are not important to the CC companies. In 17 years of running an online business, we have never won a defense of a chargeback. Most online companies experience fraudulent charges of 2-5% of their sales revenue. We manage to hold ours to 0.02% of our Sales revenue. We pursue every fraudulent charge and still we have never won a case in our favor.

My point is: Merchants loose. If you can't afford the loss, then do not allow Credit Card payment.

PayPal is far better with which to work. They value both sides of the transaction and will mediate, often providing the merchant with some protection.

We have distributing resellers around the world who pay us via PayPal. We've never had a problem with them on transactions up to around $10k. I don't recall any transactions over that amount.

Most of our payments of large amounts are done by wire transfer. We have never had any stiff us on a wire transfer.