Cashiers checks???

  • Thread starter Thread starter ad0lescnts
  • Start date Start date
A

ad0lescnts

New member
hello,
I'm selling some items on recycler and I've gotten a lot of responses from people, and a lot of them sound really sketchy. I've gotten a bunch from 'africa' talking about their plan to make the deal and i just ignore these. I have also gotten a lot of responses talking about shipping and using cashiers checks. My question is if there are any risks in accepting cashiers checks.

thanks,
T
 
Cashiers checks can be forged. Just don't ship it until the check clears. Postal money orders are completely solid if that is an option.
 
And make sure you don't fall for the "make the cheque out for more than the required amount, so you can give them change" scam... that's quite popular these days.
 
I've had over 20 "mastering quotes" from Nigeria just in the last few weeks.

It used to be "I'd like to order some of your product" or something like that.

Suddenly, they're quite targeted and VERY "legit" looking.
 
FRAUD BULLETIN - please be EXTREMELY WARY of offers by distant strangers to send you a high value (but counterfeit) cashier's check, and then have you wire the balance to them. Banks will cash these counterfeit checks, but then hold you responsible for the funds when the check fails to clear! If you suspect such a scam, or have been victimized, you should contact your local Secret Service field office and/or the FTC toll-free at 1-877-FTC-HELP (1-877-382-4357) or use the complaint form at www.ftc.gov, or call the Canadian PhoneBusters hotline toll-free at 1-888-495-8501. More info on our current scams page
 
Fake checks

I am a consumer law attorney and I just wanted to make one more point about the fake checks that have been poppong up everywhere. Let's say that your selling your old Squire Stratocaster and you can't believe that some clown from another continent has agreed to buy for $500. Generally the foreign buyer will send a cashier's check for $5,000. The foreigner will request that you pay the shipping costs, then send back a smaller cashier's check (around $4,000) to cover the 'excess funds.'

Most people assume that a check has 'cleared' at the time that the funds are deposited into the recipient's bank account. The truth is that even though your bank will allow you to access the funds just a few days after you deposit that $5,000 check from Nigeria or Guatemala, the bank will eventually discover that the check is fake--after you buy a real cashier's check to cover the 'excess' funds. In the end, the foreigner gets your genuine check for $4,000 and your bank pulls $5,000 from your account--oh yeah, and the scammer also gets your guitar.

Please remember and remind your frineds/family that a check has not 'cleared' at the time the funds are credited to your acount--even if it's a cashier's check. It may take two or three weeks for your bank to discover that you have deposited a counterfeit check. Your bank will not cover your butt in this situation.
 
You must log in or register to reply here.
Back
Top