Seller Beware

[BoylermanCT]

Definite scam. On Craigslist, cash is king. I do not accept checks or electronic payments of any kind. Too easy to for them to be recalled or cancelled.

 

[Boss 302]

SCAM

 

[JohnDeereJoey]

Banks checks are not 100% absolutely guaranteed funds. It is uncommon, but a bank CAN stop payment.

I knew a person who opened an account with a bank check only to be informed about a week later that the bank stopped payment of the bank check. L-O-N-G story, but the short version is the stop payment was deemed to be valid.

 

[two_bit_score]

Counterfeit cashier’s checks are not uncommon.

 

[Monster5601]

I got "took" once by cashier’s check. An item I sold was more than the buyer wanted to carry in cash (thanks to stupid civil forfeiture) so I agreed to accept a cashier's check drawn from a local bank. Sure enough, I got a cashier's check from a local bank for the correct amount.

About a week after the deposit, my bank told me the check was no good, it seems the check was stolen from the issuing bank by a member of the bank's cleaning crew.

I filed a police report, the detective on my case showed me a handful of pictures of criminals and I was able to identify the woman. She was charged and sentenced to a prison stretch, not her first time.

Fortunately for me, my house/property insurance covered the loss.

I've also been burned by a few bills of counterfeit currency bundled in with the cash payment.

So now I require either a direct deposit or Zelle transfer into an account I set up just for this. No more checks, cash, or PayPal. Scammers play on your greed, your anxiousness to sell.

What is a cashier's check?

What is a Cashier’s Check | Chase

Asking yourself what is a cashier’s check and how can you get one? Learn more about the possibilities of doing so and alternate choices you can make.

www.chase.com

 

[3Ts]

Banks checks are not 100% absolutely guaranteed funds. It is uncommon, but a bank CAN stop payment.

I knew a person who opened an account with a bank check only to be informed about a week later that the bank stopped payment of the bank check. L-O-N-G story, but the short version is the stop payment was deemed to be valid.

I had this happen to me. I thought that a bank check meant that the bank had verified the funds and removed them from the buyer's account. I deposited the check and later found out that payment had been stopped. I was out the goods and a fee for the bad check.

 

[ArlyA]

If we took a check (a normal check) i think we'd deposit it and wait it out and keep whatever you sold untill the bank says its OK.

 

[LouNY]

Dang, I'm glad I'm not dealing with many of you people.
I just bought a used tractor. I saw it on Facebook Marketplace. Contacted the seller,
went up and looked at it (2 1/2 hour drive) talked to the seller, looked it over drove it a bit went through the gears.
Took a couple of pictures including the serial number, drove home. Once I got home I looked up a bit of
information on that model and called about another tractor I was interested in. Thought about it for a
few days and then made an offer in a text message to the seller, he responded I considered for a day and made a final offer he accepted,
my offer included delivery. When they delivered the tractor I wrote out the check and he went home with the check.

 

[Hay Dude]

I know checks can be stopped and phony, but if the person who comes out to look at your equipment gives a name address and phone number and it’s on his/her/whatever pronouns check, and the check is no good, doesn’t he/she go to jail for like grand larceny or something if it’s over a certain amount?

I know some people have been taken, but I’m beginning to wonder if the bad check stories are mostly (not all) “urban lore”?

 

[RjCorazza]

Them going to jail doesn't necessarily equate to getting reimbursed for the theft. Even if there is court ordered restitution, the law seems to favor the criminal! (All bark and no bite)

 

[JohnDeereJoey]

Counterfeit cashier’s checks are not uncommon.

It wasn't counterfeit.

It was a legitimate bank check that, that after it was issued, was determined to be in error.

 

[mred2]

We had a service center at another branch. Customer wanted repair done under warranty on used parts he provided. Said we put them on and should warranty them. We told him no, we would warranty the labor, as that is all we were provided. After repair, bill for the new parts, and the unpaid bill for the old labor, customer picks up machine. Pays in check. We load tractor on his trailer and he leaves. Two minutes later, he calls and tells us he has already done a stop payment on the check with his bank. We tried to take him to court. 9 months later, we write it off. He is out of business.

 

[DaBear3428]

maybe scam / maybe not. I would take it further if you want to sell.

In Canada at least, a cashier's check is a check guaranteed by the bank and drawn on the banks own funds to you (not buyers funds). So ask buyer to send you a picture of the bank draft. It will have Banks name, address, and its serial NUMBER, etc..... If the Bank draft is drawn on a recognizable American based Bank (not something like bank of hong kong or bank of malaysia which you cannot check on) you can simply phone the Bank to ensure that the bank draft number is legit and funds are truly in the Banks hands. Better yet the local branch in person.

If dealing with a recognizable bank with local offices (BOA, Wells, etc...) and bank can confirm THEY issued the draft you are safe. Would never touch it if cannot verify with local branch so buyer has to provide on appropriate bank. If bank is forgeign and check cannot be made then scam for sure.

I have done this many many times as some of my old stuff gets sold to people too far away to inspect but unique enough they are willing to trust and take a chance.

For sure 100% right to be worried just do your due diligence with the issuing bank. Now if paypal, private cheque, Vemo, etc... wouldn't touch it with a 10'pole.

Cashiers cheques on legit Banks that have a local branch near you that can be independently confirmed by you in person should be fine. Like 2 step verification.

it is a classic scam, after you deposit the check something will come up and the "buyer" will ask for some of the money he sent back in good faith and for you to send to a third party to pay for something, and after you take the money out to pay for that your bank will inform you the the check that they accepted is not valid and take all the money back out of your account.
do not engage they have all kinds of angles once they have you on the line, it will all look legit up to the point that they have your money.

 

[orezok]

I sold a Toyota a number of years ago to a semi local who drove and inspected the car. His bank had a branch in my town. We went to his bank and he withdrew the funds, gave them to me and I signed off the title. I took the cash and converted it to a cashiers check in his bank and left knowing the funds were real and safe.

 

[ljjhouser]

I would permit the buyer to look at and drive and inspect the tractor all he wants. BUT only at an independent location - independent of where the tractor is stored. I would haul it there for inspection. Then if he chose to buy it, I would deliver it to him by meeting him at HIS bank for payment and then deliver it. Free delivery.

 

[MapleLeafFarmer]

it is a classic scam, after you deposit the check something will come up and the "buyer" will ask for some of the money he sent back in good faith and for you to send to a third party to pay for something, and after you take the money out to pay for that your bank will inform you the the check that they accepted is not valid and take all the money back out of your account.
do not engage they have all kinds of angles once they have you on the line, it will all look legit up to the point that they have your money.

my bad.... I thought OP was talking about a Bank issued Cashier's check. Here in Canada unless counterfit (thats why I call to confirm legit as the serial number will be in their records with amount, name, etc..)
I always was told Bank issued Cashiers cheques are certified by the bank and drawn on Banks own money (not the buyers money) and Bank gauruntees payment.
Fingers crossed / knock on wood I have yet to be scammed in a sale yet. hope I never am.

Cheers

 

[bcp]

From: Error 467

The difference is that cashier’s checks are drawn on the bank’s account and certified checks are drawn on the check writer’s account.

Bruce

 

[2515R Dude]

maybe scam / maybe not. I would take it further if you want to sell.

In Canada at least, a cashier's check is a check guaranteed by the bank and drawn on the banks own funds to you (not buyers funds). So ask buyer to send you a picture of the bank draft. It will have Banks name, address, and its serial NUMBER, etc..... If the Bank draft is drawn on a recognizable American based Bank (not something like bank of hong kong or bank of malaysia which you cannot check on) you can simply phone the Bank to ensure that the bank draft number is legit and funds are truly in the Banks hands. Better yet the local branch in person.

If dealing with a recognizable bank with local offices (BOA, Wells, etc...) and bank can confirm THEY issued the draft you are safe. Would never touch it if cannot verify with local branch so buyer has to provide on appropriate bank. If bank is forgeign and check cannot be made then scam for sure.

I have done this many many times as some of my old stuff gets sold to people too far away to inspect but unique enough they are willing to trust and take a chance.

For sure 100% right to be worried just do your due diligence with the issuing bank. Now if paypal, private cheque, Vemo, etc... wouldn't touch it with a 10'pole.

Cashiers cheques on legit Banks that have a local branch near you that can be independently confirmed by you in person should be fine. Like 2 step verification.

It is a known scum, they pri t "cashiers checks" at their home computer. Then 2 weeks later, when this check comes back, your bank comes after you.
This scheme was described 1000s of times oil over the internet. I' m actually surprised you never heard of it

 

[MapleLeafFarmer]

It is a known scum, they pri t "cashiers checks" at their home computer. Then 2 weeks later, when this check comes back, your bank comes after you.
This scheme was described 1000s of times oil over the internet. I' m actually surprised you never heard of it

but that's what the two step verification process protects us no?. (they failed to confirm with the local Bank it was legit.)

- Get a copy (pic) before the deal is done
- call the issuing bank (if local / never off-shore bank) with the amount and the serial number, and they check their records and can confirm whether it was actually issued by them and gaurunteed VS risk it was printed off someones printer.

Yes there are tonnes of scammers but my point is an American Bank issued Cashiers cheque is drawn on bank funds and guaranteed by bank AND if you confirm before trusting / selling / shipping with the Bank that they actually issued the instrument (not printed up in someones basement cause if was Bank would't confirm) then all should be fine??

anyways I'm out. I got no horse in this race. And for sure lots of scammers and be wary for sure. Better safe than sorry can be good strate4gy.

Language is only one sign. In Canada almost 30% of all people who live here were not BORN in Canada meaning language is often different than say my Polish (European) background.

Cheers!!

 

[Torvy]

In theory, this would be correct. Wife did as you say and bank checked, but the scam was deeper. The bank is not going to eat the loss.

Get law enforcement involved. Otherwise, you avoid the scam, but the scammers keep coming.