Sad but true, any computer monkey with a little spare time and some desire can hang paper that looks as real as the stuff from any bank.

Personally, I find a counter-check written on a bev-nap is just as functional as a check that says "certified funds" on it - neither is anything but paper till it clears. Once either clears, they have the same value. Once either bounces they have the same value - though one may be a bit prettier.

And yes, someone can put a stop on a cashier's check.

If somebody wants something of mine and is in a hurry, I accept cash as a form of payment. Unless it's someone I know, the rest is paper of potentially little value, and I can't/won't take the hit.

Greg

 

There was a sign in a gun store:

In God we trust.
All others pay cash.

Greg, that is my philosophy as well.

 

I have to agree with a couple of others, I would say go for it, however instruct the bank not to release any of the funds to you until they verify that the check is indeed a good check, and DONT release the car until the check has been made good, then you can always make a fake check after for the 8k you "owe" him

 

This is exactly the point. The bank is absolved from any liability by its agreement with you. Banks can only do so much to check the validity of a cashier's check (especially overseas), and once they have done that and told you it is in fact legitimate, is where the real scam starts. At that point you feel comfortable that you have money. Unfortunately in a month or 2 or 6, the bank returns to you with: "Sorry it looked legit but it wasn't". They take their money back from you, and whatever you have given or paid is lost.

 

If someone offers you this deal, the check is fake. Don't waste your time or risk your money depositing the "check."

 

Take the bogus bank check and get the address of where to send the "refund" check, then turn the address and check over to the authorities. You could get these turds off the street and save somebody a lot of money.

 

YEA I HAD SOME LIBERATION GROUP FROM AFRICA OFFER ME 50K SO THEY COULD USE MY BANK ACCOUNT AND PULL THERE MONEY OUT OF THE COUNTRY. ALL THEY NEEDED WAS MY ACCOUNT NUMBERS AND OTHER CONFIDENTIAL INFO..SO AFTER ABOUT TEN SECONDS I FORWARDED THE E-MAIL TO FBI. MAYBE THEY WOULD LIKE TO HELP... WHO IN THE WORLD FALLS FOR THESE STUNTS?

 

E.g. they agree to buy your car for $10k. They send you a cashier check for $15k. You, being a good citizen, will let them know about the mistake. In turn, they will ask you to go ahead and deposit $15k and wire them the difference. By federal law the bank cannot place a hold on a check for more than 10 days so the money will be available in your account. After 2-3 weeks they bank will debit your account and you have lost your money if you transferred the difference.

Another well-know scam is El Gordo Lottery. They will tell you that you won $500k and they need your account number (no problem, you can open a new account and leave a low balance). Once they have all your info they will tell you that a government entity has a hold of your money and you need to send a release fee of $500 to up to $10k. Everything seems legit because you will get a letter and contact number from this entity. The scam is the release fee. This has been going on for years but still people fall for it. Incredible!!

 

I wonder if a group of P owners could put together a list of scams and how they work. So that if any of us go to sell items or cars these are some things that are out there to hinder our eforts. This list could be put somewhere on the board so that we could all benefit. I find these scams very interesting. I may have even fallen for one of them. Glad I read this thread.

 

Gosh!!!!! You can't trust anybody now days. Pretty scarey