If someone pays for my Elise via certified check, will i be able to take it to the bank and turn it to cash immediately?
Yes.
yes but make sure the bank certifies it as legit
how do i do that?
i am meeting the guy, he’s giving me the checks, i’m giving him the car. i can understand why he doesn’t want to roll with 30G cash though…
I don’t think it does. It takes 3 business days I believe to clear
do you know the buyer?
a friend of mine sold his R1 and the bank cashed the check and 3 days later demanded a refund due to the check being fraudulently made. He lost his bike, the title to the bike, and 8k… 2 years later they found the bike being ridden in canada by the crooked police officer who stole it. horrible
Don’t listen to a woman. Just cash it, roll with 30 g’s in your pockets.
If you are worried about it, have him get a cashier’s check from the bank.
what’s the difference between a certified check and a cashier’s check?
[quote=“EvilJay,post:8,topic:37794"”]
Don’t listen to a woman. Just cash it, roll with 30 g’s in your pockets.
If you are worried about it, have him get a cashier’s check from the bank.
[/quote]
word
and
no negation. you must get verification from your bank that the check it legit and funds have been deposited to your account.
[quote=“EvilJay,post:8,topic:37794"”]
Don’t listen to a woman. Just cash it, roll with 30 g’s in your pockets.
If you are worried about it, have him get a cashier’s check from the bank.
[/quote]
Any check can be fraudulent. The only way I’d take any check is if I went to the bank with the person and watched the bank cut the certified check and hand it to him.
bottom line. make him cash the check with you and get his signature on the back of it… and deposit the money while in the bank.
trust me on this… even cashiers check can be a fraud.
HAHAHA i just got your sig newman. that’s funny.
[quote=“newman,post:9,topic:37794"”]
what’s the difference between a certified check and a cashier’s check?
[/quote]
I was going to ask you how you could possibly not know the difference, but then i realized this kind of information isn’t generally promulgated on myspace.
A certified check is a check from the bank that clears instantly.
A certified check is a check that they cut after they verify that the funds are currently in the account.
Shouldn’t be a big deal to meet the guy at the bank and get the certified check while you’re there. If it is a big deal that should raise red flags.
- You know it’s a legit check because you watched the bank cut it.
- You know it can’t bounce, even if he tries to move the funds out of the account 10 seconds after you drive away, because it amount of the check has already been held by the bank. That’s how certified checks work. They are “unbounceable” because the bank deducts the balance of the check the moment they write it, not when it’s cashed.
[quote=“JayS,post:16,topic:37794"”]
- You know it can’t bounce, even if he tries to move the funds out of the account 10 seconds after you drive away, because it amount of the check has already been held by the bank. That’s how certified checks work. They are “unbounceable” because the bank deducts the balance of the check the moment they write it, not when it’s cashed.
[/quote]
true… the only issue about a certified check…would be if it’s real or not.
It’s going to be a problem because i can’t meet with him at any time when a bank is going to be open.
for 30k i would go with him to his bank to watch them cut it… OR have him do a wire transfer from his bank to yours, and do it while you are at your bank. so your bank can verify that funds are recieved and everything is good
[quote=“newman,post:18,topic:37794"”]
It’s going to be a problem because i can’t meet with him at any time when a bank is going to be open.
[/quote]
is 30k worth a day off?