How do I tell if a bank check is real?
#1
How do I tell if a bank check is real?
I am expecting to sell my car today. Finally. Hooray!
I have never done this before, and I think I have all my bases covered, but I do have 1 question.
The buyer is coming to my house with a certified bank check. And when he hands it to me, other than me looking at it, how can I tell if it's real? Can I call the bank that issued the check? I don't know the buyer from a hole in the wall. He seems like a nice guy, but what the hell do I know?
Should I ask him to come to my bank with me while I deposit the check?
Advice please.
Would love as much feedback as possible by 12pm TODAY!!
I have never done this before, and I think I have all my bases covered, but I do have 1 question.
The buyer is coming to my house with a certified bank check. And when he hands it to me, other than me looking at it, how can I tell if it's real? Can I call the bank that issued the check? I don't know the buyer from a hole in the wall. He seems like a nice guy, but what the hell do I know?
Should I ask him to come to my bank with me while I deposit the check?
Advice please.
Would love as much feedback as possible by 12pm TODAY!!
#2
I am expecting to sell my car today. Finally. Hooray!
I have never done this before, and I think I have all my bases covered, but I do have 1 question.
The buyer is coming to my house with a certified bank check. And when he hands it to me, other than me looking at it, how can I tell if it's real? Can I call the bank that issued the check? I don't know the buyer from a hole in the wall. He seems like a nice guy, but what the hell do I know?
Should I ask him to come to my bank with me while I deposit the check?
Advice please. Would love as much feedback as possible by 12pm TODAY!!
I have never done this before, and I think I have all my bases covered, but I do have 1 question.
The buyer is coming to my house with a certified bank check. And when he hands it to me, other than me looking at it, how can I tell if it's real? Can I call the bank that issued the check? I don't know the buyer from a hole in the wall. He seems like a nice guy, but what the hell do I know?
Should I ask him to come to my bank with me while I deposit the check?
Advice please. Would love as much feedback as possible by 12pm TODAY!!
It will still take a few days for the check to clear, bank check or not. All banks are different, but most, if not all still have a "clearing" policy. The only exception, I believe, is if the check says "official" at the top. My bank told me that a bank check is the same as a personal check as far as having to clear, but if it says "offical check" at the top, it's the same as cash. Both of you go to the bank to deposit it, see what the teller says, (you are both on video too, just in case!). Give him the keys when you get home, but keep the title until the check clears?
#3
I think it's a moot point now since I need that money this afternoon to get a check of my own for the next vehicle, and since it takes at least 1 business day to clear, he will probably have to do a wire transfer.
#4
it's not likely you will have cash today, but good luck with the sale.
#5
A wire transfer will not clear until very late in the afternoon- they are not 'instantaneous', it takes a few hours for the bank to be informed that the money was in fact transfered and should be credited to your account.
#6
Call the bank that issued the check to verify who it was made out to (you) and how much. It takes jumping through a few hoops but a certified or official check can have a stop payment order invoked so I would hold the title until the check clears, if I were you.
#7
On day of transaction, go to bank with him/her to deposit...then go over to the notery to sign Bill of sale...she will make copies of licenses and whatnot at that time.
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#9
call the bank to verify. if u need the fund to be safely in the account while the hold takes place, go open an new account under the same bank. fund should be available much sooner.
#11
I handed my certified check to the seller around 10pm, and got its key and title instantly. He trusted me as much as I trusted him...there was no deposit when he said "deal", we shook hand that meant "the contract is enforced". And I have my title transfered the next day before he cleared the check.
Good luck with the sale!
Good luck with the sale!
#12
I require the buyer to fax me copy of the check in advance. I then independently look up the phone number of the bank and call and verify. All banks (at least so far) have happily verified the check.
#15
Believe it or not, even actual money orders and bank checks will bounce. Incidents such as stolen bank checks or money orders by employees or others are examples why these checks are not 100% bullet proof. If you are unsure, go to the bank with him/ her and have the bank issue a cashier's check in your presence.