Originally Posted by mudnut
Have you tried telling this person that he wont get the boat until the cheque clears.Surely this is the way transactions of this sort are done.I cannot see how you could be scamed or ripped off by getting a 'clearence' on the cheque.And to knowingly give someone a dud cheque would seem a waste of time and effort if this is the way a sale
happens.NO MONEY-NO BOAT,simple.Mudnut
As we are all in different countries we have different cheque clearing systems. But it sounds like if it is a scam he is very unlikely to be after your boat, if a scam (99.99% sure it is - no one sends money
for anything BEFORE seeing it
), the catch is he will be after a refund though after you have banked and "cleared" the cheque.
FWIW in the UK a cheque can bounce many months after being paid in, and long after it appears to have cleared, the bank have said it is cleared and you have withdrawn the money. Of course YOU are then liable for the overdraft after the bank returns the money, to itself
. The intricacies of the banking system, go figure
I suspect that the other "Modern" banking systems operate on a vaguely similar basis.........
Cashiers Cheques do have a tendency to get forged, and personally I would not rely on phoning a bank to verify one even if you could get them to 100% confirm the cheque was ok - bearing in mind the numbskulls employed on the customer facing side nowadays who probably can't spell cheque let alone know how they work
, in any event they prbbaly would not say it was 100% ok - as after all you could have a cloned cheque and also they have no idea who they are talking to........
in the money has the advantage of getting cleared funds, but requires you to hand out your bank details to a complete stranger.
Escrow sounds like the way to go.........otherwise cash, preferably exchanged within a bank for personal security
Although when I bought this boat I sent the vendor a personal cheque through the mail and only ended up picking the boat up months later....but this wasn't quite as reckless both ways as it sounds. sort of