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Originally Posted by tturedraider
I do agree though that at the very least given this particular situation, with a $75,000 cashier’s check, they should have verified the genuineness of the routing number.
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I actually thought that was standard, but yeah, I can see it can vary depending on the bank, teller, how busy they are, if they are itching to go to lunch, etc.
I sold a car once long ago, the buyer brought a cashiers check and we went to the bank together with it. We sat off to the side for 5-10 minutes while someone actually called up the other persons bank to make sure the check was real / funds were available. I guess I don't know the details but they did do some work on it. Good reminder to be sure this happens if I ever repeat a sale that way.
Quote:
Originally Posted by tturedraider
Yes, meeting at the bank and watching the teller draw up the check is fool proof.
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So, since you were in the industry and know things, can the buyer empty the account and / or close it before you get a chance to go deposit that check?
For $75k I might actually create an account at the buyers bank for myself, and have it go direct while we are both in the bank itself. I suppose there's a reason not to do that but for so much money I think I'd be a little extra careful as well.