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#3449 - 10/20/04 04:38 PM CASHIERS CHECK
Anonymous
Unregistered


WHY IS BANK OF AMERICA SAYING FOR LOST CHECK WILL TAKE 3 MONTHS BEFORE THEY WILL RE ISSUE ANOTHER CASHIERS CHECK. WHY? THEY HAVE OUR MONEY, WHY NOT GET A CHECK RIGHT WAY IF THE CHECK HAS NOT CLEARED.

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#3450 - 10/20/04 04:46 PM Re: CASHIERS CHECK
JacFSB Moderator Offline
Power Poster

Registered: 11/19/01
Posts: 4079
Loc: On my soapbox
A properly issued cashier's check is an obligation of the bank- if it tries to post, they will have to pay it. The Unform Commercial Code outlines instances in which a bank may refuse to pay a cashier's check, because of an enforceable claim (such as a lost check). But it goes on to say that the claim is not enforceable until 90 days after the issue date of the check.

So because of the way the law reads, if the bank reissues the check before the 90 day period, and both checks clear, the bank will have to pay them both, effectively taking a loss because they only received payment for one purchase. But by waiting until 90 days have passed, the bank is able to return the original (lost) check if presented, based on your claim.
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It's hard for an egg to become a bird. It's harder for an egg to learn to fly. C.S. Lewis

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#3451 - 11/16/04 03:13 PM Re: CASHIERS CHECK
Laura Hammon Offline
New Poster

Registered: 11/16/04
Posts: 3
Loc: South East
I am a small business owner and we recently accepted a fraudulent cashiers check. Our bank accepted the check and ran it through their fed clearing department. Then they sent it to the bank the check was supposedly drawn off of and it was returned stamped NOI. The bank the check was drawn off of handled the check on the first and our bank did not return it until the 3rd. Can you explain to me the course of action I could take? Thank you.
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lmhsaw

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#3452 - 11/16/04 03:50 PM Re: CASHIERS CHECK
JacFSB Moderator Offline
Power Poster

Registered: 11/19/01
Posts: 4079
Loc: On my soapbox
Laura,
Correct me if I'm wrong, but it sounds like you are dealing with a counterfeit item. If that is the case, your only real recourse at this point is to go after the scammer that gave you the check in the first place. The drawee bank is not obligated to pay the item, because it was never issued by them in the first place, and from the dates you posted, it appears that they returned the check to you in a timely fashion.
_________________________
It's hard for an egg to become a bird. It's harder for an egg to learn to fly. C.S. Lewis

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#3453 - 11/16/04 10:35 PM Re: CASHIERS CHECK
8675309 Offline
Platinum Poster

Registered: 06/13/04
Posts: 828
Loc: Midwest
This really is not my area of expertise so I probably shouldn't respond, but...we had an FBI agent come to the bank this morning and talk about this exact scenario. (Unfortunately it is happening all the time and getting worse!) From what he said, the bank that accepted the cashier's check would be liable. I could have misunderstood, but that's what I thought he said. Have you reported this to the police? That would be the first place to start. I'm sure they have a fraud division that could help you.
_________________________
Well-behaved women rarely make history. -Laurel Thatcher Ulrich

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#3454 - 11/16/04 10:57 PM Re: CASHIERS CHECK
Laura Hammon Offline
New Poster

Registered: 11/16/04
Posts: 3
Loc: South East
Thank you so much for your input! I just could not imagine being responsible for the check after it was cleared through a Federal clearing house! We already have a lawyer working on this with the district attourney. Thank you again!
_________________________
lmhsaw

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#3455 - 11/17/04 11:46 AM Re: CASHIERS CHECK
Anonymous
Unregistered


Even if the bank cleared the check through a Federal clearing house? They didn't even put a hold on the check. It just so happened that our statement came out and it showed that the check was deposited in full without hold on the day it was presented to the bank. I don't understand. I am not trained to catch or detect fraud. Aren't they?

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#3456 - 11/17/04 12:10 PM Re: CASHIERS CHECK
John Burnett Administrator Offline
Compliance is my life

Registered: 10/27/00
Posts: 12643
Quote:

Even if the bank cleared the check through a Federal clearing house? They didn't even put a hold on the check. It just so happened that our statement came out and it showed that the check was deposited in full without hold on the day it was presented to the bank. I don't understand. I am not trained to catch or detect fraud. Aren't they?




The bank that accepts a cashier's check for deposit really has no reliable way to determine that the check is a counterfeit, unless the counterfeiting is really blatant. Today's counterfeit checks are so "good" that they are often indistinguishable from the real thing except by the bank on which they purport to have been drawn.

The fact that your statement shows the deposit of the full amount of the check doesn't mean that the bank didn't place a hold on the deposit. They would, however, have given you a separate notice if they did hold any part of the deposit. Incidentally, they could only have held any amount over $5,000 under federal laws.

As for the comment above about the FBI agent -- While it's true that the bank accepting the check for deposit is liable (because it endorsed the check), its customer is also liable for exactly the same reason. In fact, the Uniform Commercial Code tends to place liability in these cases with the person who was in the best position to prevent the fraud -- in this case the person who accepted the fraudulent check from the criminal. Ideally, of course, the criminal gets caught, tried, convicted, and forced to make everyone whole (we can all dream, can't we?)

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#3457 - 11/17/04 12:15 PM Re: CASHIERS CHECK
Laura Hammon Offline
New Poster

Registered: 11/16/04
Posts: 3
Loc: South East
I'm not sure I understand. If the check was an obvious forgery then they are responsible? Forgive me please I know nothing about banking laws or fraudulent checks.
_________________________
lmhsaw

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#3458 - 11/17/04 01:27 PM Re: CASHIERS CHECK
John Burnett Administrator Offline
Compliance is my life

Registered: 10/27/00
Posts: 12643
Forgiveness isn't necessary. We get these questions a lot.

Obvious counterfeit or not, the bank that accepts a check for deposit is acting as a collecting agent for its customer. The UCC will still place liability on the depositing customer, whose recourse is to the person who delivered the odious item to the depositor.

That said, if the bank or customer suspect an item as counterfeit, calls can be attempted (with varying success) to verify the check's authenticity. But the bank named on the check is not obliged to respond with information. In such a case, the customer could request, or the bank could insist upon, sending the check for collection rather than putting it on deposit. In that way, no one receives credit for the check unless it is paid as good funds.

In today's environment, cashier's checks received from anyone other than a trusted party should be considered suspect. Unfortunately, that's where we are today.

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#3459 - 11/19/04 07:13 PM Re: CASHIERS CHECK
Anonymous
Unregistered


On the question of fraudulent cashiers checks, I recently got a cashiers check from a third party issued under the name BofA. I went to BofA and inquired if the check was original and they showed me how they can tell that it is original. I deposited the check in my account and a week later I got an notice in mail saying that the check was counterfiet. I am talking about $3,560. Do I have any recourse in this matter. I contacted the police and will file a complaint tomorrow. I am also planning to contact the bank officials, as an initial call to their 800 number did not prove to be too helpful. Should I contact a lawyer?

Thankyou

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#3460 - 11/20/04 10:34 PM Re: CASHIERS CHECK
Anonymous
Unregistered


Quote:

Quote:

Even if the bank cleared the check through a Federal clearing house? They didn't even put a hold on the check. It just so happened that our statement came out and it showed that the check was deposited in full without hold on the day it was presented to the bank. I don't understand. I am not trained to catch or detect fraud. Aren't they?




The bank that accepts a cashier's check for deposit really has no reliable way to determine that the check is a counterfeit, unless the counterfeiting is really blatant. Today's counterfeit checks are so "good" that they are often indistinguishable from the real thing except by the bank on which they purport to have been drawn.

The fact that your statement shows the deposit of the full amount of the check doesn't mean that the bank didn't place a hold on the deposit. They would, however, have given you a separate notice if they did hold any part of the deposit. Incidentally, they could only have held any amount over $5,000 under federal laws.

As for the comment above about the FBI agent -- While it's true that the bank accepting the check for deposit is liable (because it endorsed the check), its customer is also liable for exactly the same reason. In fact, the Uniform Commercial Code tends to place liability in these cases with the person who was in the best position to prevent the fraud -- in this case the person who accepted the fraudulent check from the criminal. Ideally, of course, the criminal gets caught, tried, convicted, and forced to make everyone whole (we can all dream, can't we?)




John, does this scenario change if the depositing bank gave you cash for the cashier's check before the payor bank notified the depositing bank that it was counterfeit? I had a counterfeit cashier's check in the amount of 31,500 and the depositing bank gave me 24,000 in cashiers checks the next day. I then used this money to payoff some liens. A week later, we find out the check was counterfeit and the depositing bank charged my account the 24,000. Now my account shows that I am 22,000 in the hole (I had 2,000 in my account originally). Do I have any recourse against the depositing bank?

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#3461 - 11/21/04 11:22 AM Re: CASHIERS CHECK
Anonymous
Unregistered


Is there any law that states how many days a bank has to notify you about a counterfeit cashiers check? It took my bank 7 business days.

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#3462 - 11/22/04 11:01 AM Re: CASHIERS CHECK
Fraud Pup Offline
Diamond Discusser

Registered: 09/19/03
Posts: 3236
Loc: Soonerland
What is being missed here is the fact that people fell for a scam. The bank of first deposit is acting, as was noted above, as a collection agent for the customer. Where did you get the cashier's check? If it was from a legitimate source, you should be able to get your money back. If it was from an unidentified source, what did the check represent? Did you sell something? Was it a "personal loan"? I don't mean to come down on customers, but a pattern seems to have developed where we don't bother to educate ourselves until something bad happens. Is it possible to verify whether a cashier's check is valid? Yes, sometimes it is. I'll tell you that I've caught dozens of these when the paying bank has cooperated. I'll tell you, also, that not all banks will cooperate, leaving the bank of first deposit with a decision, generally based on the relationship they have with the customer. Most customers simply do not like being questioned about these checks and, out of respect, are not asked the questions necessary to determine the legitimacy of the source. To top it off, there are regulations out there that act to shackle the financial institutions as well. I foresee a change in some of these regulations, but likely not for some time.

The end result here is that, unless the return of the check by the paying bank was untimely, the bank of first deposit, and subsequently the customer who initiated the transaction, is liable for the full amount of the check.

A timely return of a counterfeit check, cashier's check or otherwise, is 24 hours. If a check posts to your account on 11/22/04, your bank has until 11/23/04 to return the check. The same goes for a counterfeit check. If the paying bank did not return the check within the alloted timeframe, they may be held liable for the entire check. It seems that is the ONLY way you might not be liable for the check, as a customer.

To answer your question about recourse against the depositing bank....you have none. But I have a question for you: What happened to the other $7,500? Also, I would contact the companies to which you paid via cashier's checks and look to reverse those transactions. The bottom line here is that you are benefitting from the transaction.
_________________________
"Droplets of Yes and No in an ocean of Maybe."--Faith No More

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#3463 - 12/11/04 10:21 AM Re: CASHIERS CHECK
Anonymous
Unregistered


I must almost agree. I was involved in a scam on Ebay where I was sent a cashier's check that I later ($4000 later) found out it was a fake. I was pissed. Whose fault was it?... Why did my bank cash it? Why didn't Ebay notify me? Why didn't anyone want to help me? LOL. Basically, I got suckered..scammed. Many of you out there do things in good faith, and I would say the suckiest (is that a word?) part is that many times it isn't that we are stupid...just too trusting in the systems/vehicles by which we use to perform our business and financial transactions. I agree with you when you say get educated. Don't rely on anyone (i.e. bank, company, etc.) but yourself when it comes to your money. Expect every check to be a bad one, no matter how reliable and trustworthy the sender is... And dont feel like an idiot to question everything when it comes to your money...or in most of these cases, what becomes your debt. I will add this last point and then I'm done... You are checking this out most likely because you got scammed or sent a bad check or looking to help those who have. You feel like you want to educate your selves and rationalize what happened and what you can do about it. Well, for me, I want to educate people so that instead of them being examples of fraud and scamming, they see it before-hand and know the signs and dont fall into it. My situation is pretty specific involving sales on Ebay, so I am going to really try to give the specifics of what happened to me to as many as I can who do business via the internet. When I was scammed (which I later found out was an advanced fee scam from nigeria) I never heard about this, and after doing a basic simple search saw about a million related items of people who got scammed too. Why didn't anybody (Ebay, my bank...ANYBODY!!!) let me know about this? the answer...not to answer a ? with a ? , but Why didn't I let myself know about this? Last thing I am going to say, which is simple. Print it out and paste it in your check book, on your computer, on your refrigerator...Anywhere!!! This is it... "EDUCATE AND BE EDUCATED" Let's stop allowing these lazy a@*holes to scam us or fraud us for our hard-earned money. And if it's too late and you were frauded already, make sure you never et it happen again. Have a great holiday, all!!!

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#3464 - 12/11/04 11:23 AM Re: CASHIERS CHECK
Greg Offline
Platinum Poster

Registered: 05/18/04
Posts: 671
Loc: Michigan
The annon poster above is correct. The key is "educate and be educated" as he/she put it.

We've had very good success at catching these when our customers are victimized before any money changes hands. In the past 18 months we've only missed one that I'm aware of. That's one of the advantages of dealing with a smaller bank. We have nine locations and only about 80 tellers. We went 13 months (Oct '03 - Nov '04) without having to hire one new teller! We take the time to make sure they know what to look for and what questions to ask. The mega banks with 100's or 1,000's of front line staff don't have the capability of training like we do.

Every bank - without exception - tries to prevent their customers from being defrauded by anyone. But with employee turnover rates being what they are, not every front line teller has the experience necessary to spot these scams.
_________________________
If you approach life with pure logic you can avoid almost all of the fun.

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#3465 - 12/12/04 02:25 PM Re: CASHIERS CHECK
Anonymous
Unregistered


I think I have been a victim of a cashier's cheque scam after reading on the internet about it. Without going into any detail on the scam I fell for (where the criminal sends me a fake cashiers cheque worth far more than the worth of the goods that I am selling asking that I wire via western union the funds back less the cost of my goods) I now know that the cashier's cheque sent to me (from Nigeria) is definately a fake. That said my bank has still not picked it up with me, the funds (4,500) were shown on my bank account as cleared middle september, it is now some 12 weeks later that I have heard nothing. Has this slipped through the clearing system, is that possible? If the bank notifies me now that it is counterfiet will I be liable? Please note that I reside in the uk. Any advise would be much appreciated

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#3466 - 12/13/04 08:05 AM Re: CASHIERS CHECK
John Burnett Administrator Offline
Compliance is my life

Registered: 10/27/00
Posts: 12643
Our familiarity is generally with U.S. laws. However, we generalize (or generalise, if you prefer) here. When cheques are drawn against foreign banks they often take a great deal of time to reach the payor banks, and considerably longer to wend their ways back to the depository bank. Whether you will be liable to your bank if the cheque is dishonored is a question of UK law, but I would suggest that you'll not be pleased with the result.

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#3467 - 12/13/04 11:59 AM Re: CASHIERS CHECK
Anonymous
Unregistered


Well then I guess I was right never to part with the goods, nor wire this criminal with any of my money. Will not touch that 4,500 showing in my account then!! Thank you for taking the time to reply.

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#3468 - 12/13/04 01:28 PM Re: CASHIERS CHECK
Anonymous
Unregistered


After reading the posts here I believe I may be yet another victim. Long story short basically, a check from Nigeria to purchase a snowmobile, I signed it over to my G/F and she cashed it for me at her bank. I've already wired the money, and spent the funds I was so generously allowed to keep for my troubles. It's been almost 3 weeks since cashing the check and so far I have not seen/heard any problems. But, a friend told me about these scams recently and since the check came from that area of the world I'm getting worried. The particulars of this deal sound exactly like these scams except it's been 3 weeks and no report from her bank. As was asked before do these sometimes slip through the cracks??? If it does get caught will there be someone knocking on my door asking questions??? I'm getting worried but not sure if I should be. If a problem does arise what's my recourse. I doubt I'll be able to track down this Ben guy which makes me liable right?? Or is she liable cuz it's her bank?? Any help greatly appreciated. Oh and I live here in the states.

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#3469 - 12/13/04 01:38 PM Re: CASHIERS CHECK
Fraud Pup Offline
Diamond Discusser

Registered: 09/19/03
Posts: 3236
Loc: Soonerland
She will be liable to her bank. Her recourse is you and yours seems to be untraceable.

A snowmobile? In Nigeria?? I'm guessing that you still have the snowmobile? If so, I would suggest selling it locally, if possible, and the money to your girlfriend when this comes back.
_________________________
"Droplets of Yes and No in an ocean of Maybe."--Faith No More

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#3470 - 12/13/04 02:02 PM Re: CASHIERS CHECK
Anonymous
Unregistered


Like I said long story short. The guy had responded and it took him so long to respond again I sold it locally. After I told him I sold it he said he had sent the check anyway and if I'd wire it back to him I could cash it and keep $150 for my troubles. Bottom line, there really is no such thing as free money. Do you think either of us would get accused of forging the check?????

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#3471 - 12/13/04 02:27 PM Re: CASHIERS CHECK
Fraud Pup Offline
Diamond Discusser

Registered: 09/19/03
Posts: 3236
Loc: Soonerland
Nope. The check will come back as "counterfeit" or "fictitious", not "forged" (unless you DID ), so I can't see any issues there. You (referring to the order of liability in my previous post) will liable according to Civil Law, not Criminal and as long as your girlfriend is able to clear her account should this cause a negative balance, I'm sure there will be no backlash, only a lesson learned the hard way.

In these types of cases, the vehicle rarely (if ever) changes hands. I'm glad you didn't lose your snowmobile AND the money.

Good luck the rest of the way.
_________________________
"Droplets of Yes and No in an ocean of Maybe."--Faith No More

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#3472 - 12/20/04 11:59 AM Re: CASHIERS CHECK
Anonymous
Unregistered


I just got scamed also I sold a lawn mower on ebay and I got scamed it take the back six days to take all the money out of my account what can I do I cash the check on the 9 of dec. and it was not intill the 18 dec. before i check my account and I had no money

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#3473 - 04/27/05 12:33 PM Re: CASHIERS CHECK
Anonymous
Unregistered


will one bank cash a cashiers check drawn off of another bank if you have no acct there?

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#3474 - 04/27/05 01:04 PM Re: CASHIERS CHECK
BrendaC Offline
Diamond Poster

Registered: 09/18/01
Posts: 1644
Loc: Sweet Home AL
Generally, no.
_________________________
Opinions expressed are my own and do not necessarily reflect those of my employer.

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#3475 - 05/14/05 08:17 PM Re: CASHIERS CHECK
Anonymous
Unregistered


Dont feel bad i was scammed by good faith too.(4800 dollars.I sent 4000 to nigera of course the bank paid themselves back the rest plus my rent money when cashiers check came back,I was just selling puppies. The bank cashed my cashiers check 12 hrs after depositing it. Hey to you people posting and wanting answares remember a banker is giving you the goods whos side is he on. Probably not yours.email horan4@hotmail.com

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#3476 - 05/14/05 08:25 PM Re: CASHIERS CHECK
Anonymous
Unregistered


Here are the names of the people I western union the money to in Lagos, Nigera (sound Familiar anyone) Toya Benson from global shipping and Tola Smith . The purchaser was Micheal Cole he uses a yahoo email mike_cole01@yahoo.com.
If anyone has the same contact info mayby we could help others. email me horan4@hotmail.com

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#3477 - 05/17/05 08:59 AM Re: CASHIERS CHECK
Fraud Pup Offline
Diamond Discusser

Registered: 09/19/03
Posts: 3236
Loc: Soonerland
For the record, the bank took the check "in good faith" and gave you credit for the check "in good faith". Had you mentioned that you were going to Western Union with the $4k to wire it to Nigeria, you would not have sustained a loss. I've saved dozens of these recently. One of our tellers placed a hold on a money order that came back counterfeit. The customer was elated when I called and told him that it had been charged back but he lost only the $100 that we gave him up front. There are happy endings, too.
_________________________
"Droplets of Yes and No in an ocean of Maybe."--Faith No More

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#3478 - 05/17/05 03:38 PM Re: CASHIERS CHECK
Anonymous
Unregistered


Ordinary hard working people should be made more aware of these scams. I'm a victim too, but I thought I did all the right stuff. I received my counterfeit cashers check and took it to one of the 'personal bankers' at my bank and told them specifically that I wanted to make sure I wasn't scammed. The young man told me to 'deposit the check' which I did on a Friday morning. I then waited until the following Thursday and called the bank and was told the money was in my account. I then went to the bank the next day (7 days after my deposit) and went to see the same young man who dialed up my account and told me specifically that 'the money was in my account', so I WU'd the 'extra' amount to the receipent in Ohio. On the following Monday I returned to the bank with a xerox copy of the check after hearing about possible scams over the weekend from my friends. In ten minutes it was determined that the check was counterfeit and would not be honored. The bank of course denies any wrong doing...do I chaulk it up to poor customer service that failed to address my concerns or is there a way to address this?

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#3479 - 05/24/05 01:23 AM Re: Counterfiet money order
Anonymous
Unregistered


the bank recently dposited money to my account via money orders i did not know were counterfiet. Now they expect me to pay the entire amount. I would think they should accept some liability, for not detecting the bogus money order. And they did not debit the accout upon detection nor did they notify me until a month later.....can u explain why

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#3480 - 05/24/05 01:39 AM Re: Counterfiet money order
Anonymous
Unregistered


frankly i think 250,000 dollars worth of fines, and 30 yrs without parole are harsh punishments for victims of fraud!

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#3481 - 05/24/05 02:00 AM Re: Counterfiet money order
Anonymous
Unregistered


what can u do to find out if the bank is liable for cashing bogas money orders?

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#3482 - 05/24/05 10:54 AM Re: Counterfiet money order
Chiquita Banana Offline
Platinum Poster

Registered: 06/11/02
Posts: 867
Loc: The banana bin
Quote:

the bank recently dposited money to my account via money orders i did not know were counterfiet.




Actually, YOU deposited the money orders that neither you nor your bank knew were counterfeit.

Quote:

Now they expect me to pay the entire amount.




Why should you benefit from something that is fraudulent and illegitimate?
Quote:

And they did not debit the accout upon detection nor did they notify me until a month later.....can u explain why




When did your bank 'detect' the counterfeit money orders? Since it was a month, I'm assuming that your bank didn't 'detect' the counterfeits until the received them back. If they were postal money orders, a month is a pretty typical timeframe for returning them.
_________________________
The artist formerly known as 'Swedish Chef'

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#3483 - 05/24/05 12:30 PM Re: CASHIERS CHECK
marykaylady1 Offline
New Poster

Registered: 05/24/05
Posts: 3
I had put a couple of big (heavy) items for sale in our local free trading magazine. I used my email address as a way to be contacted and was hit within 2 days by 2 different people. One told me that they wanted the item (I was selling parts of a big screen TV that my sister had and wanted to part out since it was broken) sent to them, and they didn't have a Paypal account (my preferred method of payment) nor were they in the USA. They had a 'business acquaintance's in another state in the US that owed them $4500 and that they would have this 'business acquaintance's send me the WHOLE amount (even though the price I was asking of the TV mirror was $150!) and I could cash it and then take out the money for the mirror plus shipping and mail a money order plus the item all at the same time. Well, I'm a hard working mom of 4, plus I'm a very honest person, so this raised red flags immediately. I told them that I would get them a shipping quote the next day and let them know my answer then. Next morning, I called the FBI and explained everything and they in turn sent me to some other destination and I ended up (after being transferred about 8 times) with the US Customs Department. I again explained everything and they confirmed my suspicions and I emailed all copies of correspondence to them. I then emailed the person who wanted to buy my mirror and told them that it was sold already. Happy end of story, but one that everyone could have if they only remember that if it sounds too good to be true, or if it sounds suspicious, then back off. You don't have to do favors for people that you don't know, or don't even meet in person. Use common sense!

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#3484 - 05/24/05 10:06 PM Re: CASHIERS CHECK
HRH Dawnie Offline
Power Poster

Registered: 08/12/02
Posts: 7292
Loc: Anchorage Alaska
Thank you for being so smart Mary Kay Lady!!! We can say it until we're blue in the face...but so many won't listen. Why do people think it's logical that a man in nigeria wants to buy your ski's and for the added hassle of dealing with his "check from a friend" pay you more free money

Free money is never free My grandfather always told us that. He wasn't always right, but there...he made a great deal of sense!
_________________________
Dawn Coursey VP/CRA Queen CRA Rating is in...Once again...OUTSTANDING Woo Hoo

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#3485 - 05/30/05 10:54 PM Re: CASHIERS CHECK
Anonymous
Unregistered


I sent a company in Florida a package via UPS COD with cashier's check option. Check arrived today. Yes it is paid to me, but he already endorsed it (with his company stamp even thought the check is made out to me), redeposited in his account, then when it came back to him, passed it to UPS.

I'm planning on calling his bank tomorrow. Any advice?
Sounds like felonious fraud, right?

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#3486 - 06/01/05 11:31 PM Re: CASHIERS CHECK
Anonymous
Unregistered


Hello,

i am about to close a deal tmorow and the person is going to pay me 12000 in a cashier check from BofA. i asked the person to come with me when i go and cash the check. How can i make sure i wont get robbed or fooled? PLEASE I NEED YOUR HELP !!


Thank you

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#3487 - 06/02/05 10:02 AM Re: CASHIERS CHECK
Anonymous
Unregistered


i have just sold a scooter to someone from london and he sent me a cashiers check he told me to wire the money to his purchasing agent but now after all of this reading of scams i told the person i would return the check and he is threatening me of breach of contract. i told him id send the check back no harm done ,but he wont give me an address and hes basically telling me to wire the money anyway. it must be a scam right? what should i do with the check? should i turn it over to my bank and tell them i think its fake and talk to the authorities? or should i just rip it up and pay no attention to this e-mailer ?

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#3488 - 06/02/05 11:28 AM Re: CASHIERS CHECK
John Burnett Administrator Offline
Compliance is my life

Registered: 10/27/00
Posts: 12643
Anon #2 (post 372511): I share your suspicion that you may be the target of a scam. However, I don't recommend tearing that check up. Try to contact the bank that allegedly issued the check (using a telephone directory or online number search, not any phone number printed on the check) to see if the check is genuine or bogus. If you cannot get information in this way, you should consider asking your bank to accept the check for collection (not for deposit). If the check is good, you'll pay a hefty fee but you'll know the balance you receive will be good. And remember that if the check is drawn outside the U.S. it will take a longer time to learn its fate.

Anon #1 (post 372393): Insist on visiting the B of A branch and exchanging the cashier's check for cash (or a second cashier's check) before completing your side of the deal. In that way you will know whether the cashier's check is legitimate. And if you exchange it for one or more cashier's checks payable to you, you won't have to worry about carrying cash.

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#3489 - 06/03/05 10:46 AM Re: CASHIERS CHECK
Anonymous
Unregistered


If you don't have your own bank how do you cash a cashier's check? All I have is a credit union and I'm in Maryland and they are in Michigan.

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#3490 - 06/06/05 01:49 PM Re: CASHIERS CHECK
Fraud Pup Offline
Diamond Discusser

Registered: 09/19/03
Posts: 3236
Loc: Soonerland
Open an account at a local bank in Maryland.
_________________________
"Droplets of Yes and No in an ocean of Maybe."--Faith No More

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#3491 - 06/08/05 11:46 AM Re: CASHIERS CHECK
Anonymous
Unregistered


Not generally.

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#3492 - 06/18/05 01:42 AM Re: CASHIERS CHECK
Anonymous
Unregistered


If I pay for a Cahiers Check by Master Card, would that be a Cash Advance or a Purchase

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#3493 - 06/20/05 11:28 AM Re: CASHIERS CHECK
John Burnett Administrator Offline
Compliance is my life

Registered: 10/27/00
Posts: 12643
Cash advance in almost every case.

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#3494 - 06/23/05 03:59 PM Re: CASHIERS CHECK
Anonymous
Unregistered


I was scammed thru American Singles, too good to be true is right. I had never heard of this before, and thought a cahsier's check was a good as money. $10,000 later, I have learnt a very valuable lesson, and thankfully will not lose my house.

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#3495 - 06/29/05 02:07 PM Re: CASHIERS CHECK
Anonymous
Unregistered


don't feel bad. I have 3 checks that are fraudulent. I know because I called the bank but I can't do any thing with them.

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#3496 - 06/30/05 09:26 AM Re: CASHIERS CHECK
CheekEE Monkey Offline
Diamond Poster

Registered: 06/08/05
Posts: 1097
Loc: Oklahoma
Quote:

will one bank cash a cashiers check drawn off of another bank if you have no acct there?




Usually not. With Cashiers Checks being fraud of choice these days, they would probably ask you to deposit the check and place a hold on the funds depending on the amount. If, however, you have at least 1/2 of the amount already in your account they might cash it for you.

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#3497 - 07/03/05 05:45 PM Re: CASHIERS CHECK
Anonymous
Unregistered


I was involved in a recent scam and need some help. I was selling a car over the internet and someone offered me the money for the car plus some to send to the "shipper". I recieved a cashiers check, a Bank of America cashiers check, where I also hold my account. I smelled a rat right away and informed the bank when I deposited the check that I believed it was a fraud. They said it would take at least 3 buisness days to clear. Four days later the check cleared for the full amount. I again spoke with the bank about the check being a fraud after it had cleared. They proceeded to tell me the check was good and I asked if I could withdrawl the money and they said yes. I then inquired who would be responsible if the check was no good and they said they would be. So, 2 days later I paid off the lien that was on my car. I waited with the wiring of the money due to the "shadiness" surrounding it. Thank God I didn't wire the money. Four days after Bank of America okayed the check they took the entire thing back out of my account, after I paid the lien on my car!! So now my account is significantly overdrawn. What should I do?? Who is liable??

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#3498 - 07/04/05 12:10 PM Re: CASHIERS CHECK
Fraud Pup Offline
Diamond Discusser

Registered: 09/19/03
Posts: 3236
Loc: Soonerland
Liable? It doesn't seem that you're out anything other than convenience. Refi your car with BOA and you're right back where you were.
_________________________
"Droplets of Yes and No in an ocean of Maybe."--Faith No More

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#3499 - 07/05/05 06:44 PM Re: CASHIERS CHECK
Anonymous
Unregistered


I RECEIVED A CASHIERS CHECK FOR 4780.00 FROM FTC LOTTERY IN CANADA AND THE CHECK WAS FROM NEW YORK APPARENTLY I HAVE TO SEND 1500.00 AND THEY WOULD SEND ME A CHECK FOR A CERTAIN AMOUNT, WHY DID THE CASHIERS CHECK GO THRU AFTER A WEEK?

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#3500 - 07/05/05 07:23 PM Re: CASHIERS CHECK
TexTrainer Offline
Diamond Poster

Registered: 07/03/03
Posts: 1199
Loc: Austin Texas

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#3501 - 07/07/05 10:27 AM Re: CASHIERS CHECK
m&m lover Offline
Gold Star

Registered: 11/09/01
Posts: 349
Loc: New England
What exactly do you mean by "go thru after a week"? Do you mean you deposit the check a week ago and you haven't heard from the bank? If so, it can take longer than a week for a check to come back, that doesn't mean you're home free.

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#3502 - 07/12/05 11:42 AM Re: CASHIERS CHECK
Anonymous
Unregistered


I am another victim. I advised my car for selling on cars.com and the agent of buyer contact me and give me a check in the amount of $22,000 at the agreed price of $16,000 of selling car. I deposit it and after two days, the money showed in my account and then, I paid the 5,600 the difference through Western Union to the shipper as instructed. Then after a week I was informed by bank that the check is counterfeid. I contacted every party, bank, Western Union, local police. It appears that nobody can help me with that. Anybody here has same experience can provide me some advice? Thank you very much in advance. I am so frustrated because it is not a small amount of loss for me.

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#3503 - 07/12/05 11:43 AM Re: CASHIERS CHECK
Anonymous
Unregistered


#390218. My contact account is whuan@hotmail.com

thanks.

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#3504 - 07/12/05 12:10 PM Re: CASHIERS CHECK
GenerousLife Offline
Platinum Poster

Registered: 02/12/02
Posts: 725
Loc: USA
Yes, you are a victim, hopefully wiser for the experience. Your chances of recovering your money are slim. Your only action is to pursue criminal charges, but unless the criminal is completely stupid, he is long gone and the trail is cold.

Continue to read posts here and on other websites to learn how to protect yourself in future transactions.
_________________________
I try to take one day at a time -- but sometimes several days attack me at once.

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#3505 - 07/12/05 01:03 PM Re: CASHIERS CHECK
Anonymous
Unregistered


Yes. I agree with you. The policy department is bureaucratic. I reported to them about this fraud. And informed I maybe will be contacted within 5 to 10 days. And being asked too if I learned my lesson. I trust people and get cheated. If these bad people will not be caught. They will cheat again and again to honest people since the police department doesn't care. I was wondering where the tax I paid each years goes to.

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#3506 - 07/12/05 05:11 PM Re: CASHIERS CHECK
Anonymous
Unregistered


Just wondering. Does BOA have responsibility to investigate why there are so many looks-real cashier's checks out of BOA on the market? Does BOA have responsibility to prevent such things happen? Warn innocent people paying special attention when they receive BOA's cashier's check? At least, for me, I will not receive BOA's cashier's check and have already convienced my friends to close accounts in BOA

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#3507 - 07/12/05 06:05 PM Re: CASHIERS CHECK
crowman3 Offline
100 Club

Registered: 11/26/04
Posts: 198
Loc: Crystal Lake IL
Bank of America is not a law enforcement agency. Nor is there any way for Bank of America or any other financial institution to prevent a criminal from taking a legit check, running it through a scanner, and making several new checks in its place. Bank of America probably pops up quite a bit because it is a large bank, widely known, and less likely to raise any red flags with the person receiving it.
It is the individual's responsibility to know who they are doing business with and take appropriate cautions. If there is concern with receiving a check from an unknown party, set up a paypal account and require payment that way.
Much of this fraud takes place out of the US. Reporting the fraud is a good idea, but local authorities won't be apprehending any criminals overseas anytime soon.
_________________________
I can do all things through Him who gives me strength. (Phillipians 4:13)

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#3508 - 07/13/05 11:03 AM Re: CASHIERS CHECK
Anonymous
Unregistered


So do we all here just suffer the loss without doing anything or just discuss here? If the bad people will not be caught or penalized, they will be encouraged and do it again and again.

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#3509 - 07/13/05 11:24 AM Re: CASHIERS CHECK
Midwest Banker Offline
100 Club

Registered: 11/04/04
Posts: 198
Loc: Cheeseland
Yes and no. Banks, law enforcement and other entities do what they can to inform customers of various scams and frauds that are out there; the one you described, is just one of many. As a consumer, you can be scammed in many ways, with counterfeit cash, money orders, personal checks, cashiers checks (need I go on).

While it is frustrating on your end and your anger misdirected at the bank, law enforcements hands are tied as well. How do you send a local detecetive to Cananda or overseas to deal with this type of whiite collar crime when a rape, murder, etc... happens right in their own town?

There are many ways that these and other types of fraud can be prevented and yes, most all of it falls on the consumer.
Probably not what you wanted to hear, but reality none the less.

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#3510 - 07/13/05 11:41 AM Re: CASHIERS CHECK
Anonymous
Unregistered


Yes. I am very angry with the loss of $5,600. Maybe it is not a big money to you but to me. I only have less than $100 and my next pay will be after two weeks. I don't have family here either. I really have no idea what I should do next.

Back 15 years in Singapore, once the stealers were caught, their fingers or hand will be cut off. The punishment to thief is pretty severe. Therefore, there are almost no thief at all because the cost of steal is too high. I didn't mean I like this rule. But at least, if people knows they will be caught easily and punished severely. They may not consider to cheat. Just becuase the system of law enforcement has too many holes.

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#3511 - 07/13/05 11:47 AM Re: CASHIERS CHECK
Lestie G Offline
Diamond Discusser

Registered: 05/21/02
Posts: 2721
Loc: Near the Land of Enchantment
I think we're all in agreement that we'd like for the punishment for these scams to be quick and severe. The problem is that we can't get to the criminals! They're usually in another country, and US law enforcemnt has no way of identifying them or apprehending them.

We all think $5,600 is a lot of money for a person to lose. As much as we sympathize, though - it's not the bank's fault, and it's not law enforcement's fault. We're doing whatever we can to stop this, but we just don't have many courses of action!
_________________________
Opinions my own.

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#3512 - 07/13/05 11:58 AM Re: CASHIERS CHECK
Anonymous
Unregistered


The cheater's name is [Deleted to avoid potential litigation].


Edited by John Burnett (07/13/05 05:05 PM)

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#3513 - 07/13/05 12:01 PM Re: CASHIERS CHECK
Anonymous
Unregistered


His email account is [Deleted to avoid potential litigation]


Edited by John Burnett (07/13/05 05:07 PM)

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#3514 - 07/13/05 04:36 PM Re: CASHIERS CHECK
Midwest Banker Offline
100 Club

Registered: 11/04/04
Posts: 198
Loc: Cheeseland
Now I would suggest that you direct your anger to education-educate, educate, educate. Talk to your neighbors, friends, etc. Ask your local banker (Fraud/Security Officer) to come and talk with any group that you are involved with. HELP US put a stop to this type of crime, at least from this end!

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#3515 - 07/13/05 05:08 PM Re: CASHIERS CHECK
John Burnett Administrator Offline
Compliance is my life

Registered: 10/27/00
Posts: 12643
I'm locking this thread. It's exhausted its potential for added useful information.

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