From: Frank Robertson (froberts@midsouth.rr.com)
Date: Tue Nov 08 2005 - 07:30:13 PST
I have run into this selling on eBay. Even Postal Money orders are being
faked now. My bank treats them just like a check. They have to clear. Wal
Mart will not cash their own MOs. Try it. The Post office usually does not
have enough funds to cash large MOs. Even if the bank checks on available
funds when you carry it to your bank, it can still be bad by the time it
gets presented to their bank. I have had over 12,000.00 in bad checks last
year. I just do not ship till it clears. So no big lose to me other than
bank charges. Also as you say, a stop payment can be made on a cashiers
check, or bank draft. Check with your bank and see how they feel is the best
way to protect yourself, but cash is always good.
-----Original Message-----
From: Military Vehicles Mailing List [mailto:mil-veh@mil-veh.org] On Behalf
Of Mark W
Sent: Tuesday, November 08, 2005 9:19 AM
To: Military Vehicles Mailing List
Subject: [MV] Protecting Yourself from Counterfit Checks
I'm in the process of selling a truck and would like
to know how to protect myself from fake cashier's
checks or money orders, etc. What I'm dealing with is
in the $7000 range. In the past I usually insist on
cash, but I always run in the question of checks. Is
there a way to protect yourself? Can a bank determine
up front if the check is valid. I had once heard that
even if it is a cashier check, the bank I deposit it,
still wants a few days to see if it clears.
Thanks
Mark
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