Sold my car - buyer brings cashier check.. 100% Safe?

[KonaRain]

[quote name="Don Mega" post="10383466" timestamp="1

How does one write their own "cashier check" ?

I also like the brown bag idea.

Cashier's check can be stopped payment.. Voided..

Aloha

[SpokaneAl]

[quote name="Don Mega" post="10383466" timestamp="1

How does one write their own "cashier check" ?

I also like the brown bag idea.

Cashier's check can be stopped payment.. Voided..

Aloha

Hard to believe that this is really 2016 when people believe that bringing bags of cash money to buy a car is a normal, reasonable alternative.

[SpokaneAl]

[quote name="Don Mega" post="10383466" timestamp="1

How does one write their own "cashier check" ?

I also like the brown bag idea.

Cashier's check can be stopped payment.. Voided..

Aloha

Hard to believe that this is really 2016 when people believe that bringing bags of cash money to buy a car is a normal, reasonable alternative.

You don't live in LOS then.........?

Yup. Used a cashiers check for our new car purchase last month.

[Don Mega]

How does one write their own "cashier check" ?

I also like the brown bag idea.

Cashier's check can be stopped payment.. Voided..

Aloha

A stopped cashiers check is not the same as one who write their own cashiers cheque though.

[JaseTheBass]

[quote name="Don Mega" post="10383466" timestamp="1

How does one write their own "cashier check" ?

I also like the brown bag idea.

Cashier's check can be stopped payment.. Voided..

Aloha

Hard to believe that this is really 2016 when people believe that bringing bags of cash money to buy a car is a normal, reasonable alternative.

It's more like 1976 here.

[canthai55]

Worked well in Cartagena circa 1982

[mortenaa]

to OP - just curious what kind of car hav you sold for 3.2 MTHB?

BMW E92 M3

[mortenaa]

If that's the case Morten, and you know this to be the situation, your OP seems rather pointless.

Nah, its always interesting to hear other peoples thoughts. Of course I feel a bit insecure about receiving this much cash on a piece of paper - this is the first time I'm on the receiving end..

[bearpolar]

to OP - just curious what kind of car hav you sold for 3.2 MTHB?

BMW E92 M3

309 kW (414 hp) 400 N·m (295 lb·ft) 4.6(0-100) (DCT)

[JAS21]

to OP - just curious what kind of car hav you sold for 3.2 MTHB?

BMW E92 M3

309 kW (414 hp) 400 N·m (295 lb·ft) 4.6(0-100) (DCT)

Yes ... but that is before taking it to ECU Thailand .... after that it will really go some ....☺

[Fookhaht]

SIDE-LINE RANT:

What is it with bank hang-ups over different provinces? It's like they think they're in separate countries.

Could never get over the extra charges when withdrawing from your OWN bank's ATM in a different province. It's like the electronic wires have to go through some sort of magical reincarnation at the provincial border. Or that it takes extra little minions to push that cash thru the system at the border.

Transparent scam at best. Geez!

[mortenaa]

309 kW (414 hp) 400 N·m (295 lb·ft) 4.6(0-100) (DCT)

Closer to 450hp and 0 - 100 around 4s

[mortenaa]

Oh, btw. Transfer of ownership is done.

My obsersvations: Cashier checks are 100% safe

So, what car to get now?

[IMHO]

Oh, btw. Transfer of ownership is done.

My obsersvations: Cashier checks are 100% safe

So, what car to get now?

I hear they're taking bookings for the Bentayga, and SUV's are kinda in right now

[Jitar]

Oh, btw. Transfer of ownership is done.

My obsersvations: Cashier checks are 100% safe

So, what car to get now?

I am surprised you did not think about that before parting with the M3. Tough act to follow I would imagine.

[LostDemocracy]

Cheques are only worth something once they have cleared.

Not even a UK bank will credit your account with a UK Building Society cheque until it has cleared.

I bought a car in Thailand with a bank cheque. No problem, but I picked up the cheque and was buying the car from a friend.

Thailand is not famed for its honest trading or financial deals - in this instance, Cash is King.

Edited February 8, 2016 by LostDemocracy

[Woodsie888]

Oh, btw. Transfer of ownership is done.

My obsersvations: Cashier checks are 100% safe

So, what car to get now?

I hear they're taking bookings for the Bentayga, and SUV's are kinda in right now

Nah, soon he'll be asking if a Cashier's cheque is acceptable to buy his new Huarya.

[HHTel]

Cheques are only worth something once they have cleared.

Not even a UK bank will credit your account with a UK Building Society cheque until it has cleared.

I bought a car in Thailand with a bank cheque. No problem, but I picked up the cheque and was buying the car from a friend.

Thailand is not famed for its honest trading or financial deals - in this instance, Cash is King.

But everyone knows, even the banks, that this is a forced delay allowing the banks to play with your money on the money market. The cash is taken from the issuing bank as soon as the cheque is presented but doesn't appear in the receiving bank for 3 working days. The delay is not necessary but it favours the banks, therefore it's a scam of sorts.

[mortenaa]

But everyone knows, even the banks, that this is a forced delay allowing the banks to play with your money on the money market. The cash is taken from the issuing bank as soon as the cheque is presented but doesn't appear in the receiving bank for 3 working days. The delay is not necessary but it favours the banks, therefore it's a scam of sorts.

I'm not sure if a cashiers check is different, but the amount is available right away. Anyway, the banks are playing with your money anyway. If all customers came to the bank one day and withdrew all their funds, the bank would be bankrupt - simply because they wouldn't have all the funds available.

[mortenaa]

I am surprised you did not think about that before parting with the M3. Tough act to follow I would imagine.

It was kinda meant like a joke. I am using the money for other things for now. Pay my mortgage .... Think about the future. Grow up, and boring stuff like that... D***, I miss my M3 already

[MyFriend You]

If the cheque is stamped by the bank, the bank has checked his financials and guarantees it.

HOWEVER, if he just wrote his own cheque without a stamp from the bank then...I wouldn't trust it.

How does one write their own "cashier check" ?

With a check writing machine............

[Don Mega]

If the cheque is stamped by the bank, the bank has checked his financials and guarantees it.

HOWEVER, if he just wrote his own cheque without a stamp from the bank then...I wouldn't trust it.

How does one write their own "cashier check" ?

With a check writing machine............

Is that anything like a printing machine ?

[HaleySabai]

Cheques?......that's so last-century!....we live in an age of push-button instant transfers,if that's too complicated then go for cash. How do you know this guy doesn't have a relative working at the bank and for 200bhat can issue a fake cheque...just for you. ...sounds ridiculous...TIT

[mortenaa]

Cheques?......that's so last-century!....we live in an age of push-button instant transfers,if that's too complicated then go for cash. How do you know this guy doesn't have a relative working at the bank and for 200bhat can issue a fake cheque...just for you. ...sounds ridiculous...TIT

Thanks for waking up a thread that has been in hibernate for a few months.

I can inform you that Cashier Checks are not last century when it comes to bigger amounts. It's the same as cash, but safer.. Its cash with your name on it. And millions in cash is just dumb. He could also come with a suitcase full of fake money. Same thing.

Internet banking doesn't support multi-million transfers either. Unfortunately.

[richard_smith237]

Cheques?......that's so last-century!....we live in an age of push-button instant transfers,if that's too complicated then go for cash. How do you know this guy doesn't have a relative working at the bank and for 200bhat can issue a fake cheque...just for you. ...sounds ridiculous...TIT

Thanks for waking up a thread that has been in hibernate for a few months.

I can inform you that Cashier Checks are not last century when it comes to bigger amounts. It's the same as cash, but safer.. Its cash with your name on it. And millions in cash is just dumb. He could also come with a suitcase full of fake money. Same thing.

Internet banking doesn't support multi-million transfers either. Unfortunately.

As with all transactions of such sums... IF its a business transaction then your accounts are set up to deal with larger sums.

IF its a personal transaction (i.e. payment for a car) - then the Cashiers Cheque is the tried and tested method - its slow, its long winded, there are issues with crossing provinces, there is a delay in getting the cashiers cheque authorised, there is confusion as to what to do first... Pay in the Cashiers cheque before going to the DLT for transfer, or transfer first and they pay in the Cashiers cheque... whatever you choose, its going to take at least half a day !

Ultimately a transaction such as this requires a little trust and a little patience in each other. Additionally the issuing bank can be called upon to verify the cashiers cheque

[mgjackson69]

SIDE-LINE RANT:

What is it with bank hang-ups over different provinces? It's like they think they're in separate countries.

Could never get over the extra charges when withdrawing from your OWN bank's ATM in a different province. It's like the electronic wires have to go through some sort of magical reincarnation at the provincial border. Or that it takes extra little minions to push that cash thru the system at the border.

Transparent scam at best. Geez!

Funny that...I have often wondered the same thing.

When I explain to my wife that in USA, going to any bank with the name "Ethyl's Bank & Trust" is the same as any other, she has a hard time with that concept.

Each bank just as well be a standalone here.

[mortenaa]

As with all transactions of such sums... IF its a business transaction then your accounts are set up to deal with larger sums.

IF its a personal transaction (i.e. payment for a car) - then the Cashiers Cheque is the tried and tested method - its slow, its long winded, there are issues with crossing provinces, there is a delay in getting the cashiers cheque authorised, there is confusion as to what to do first... Pay in the Cashiers cheque before going to the DLT for transfer, or transfer first and they pay in the Cashiers cheque... whatever you choose, its going to take at least half a day !

Ultimately a transaction such as this requires a little trust and a little patience in each other. Additionally the issuing bank can be called upon to verify the cashiers cheque

Clearing of the actual check didn't take more than 10 minutes, but they charged me extra for it, as it was from a different province. Quite ridiculous as others have mentioned..

Funny that...I have often wondered the same thing.

When I explain to my wife that in USA, going to any bank with the name "Ethyl's Bank & Trust" is the same as any other, she has a hard time with that concept.

Each bank just as well be a standalone here.

Maybe the US is not the best example.. While Europe buried the checks back in the 80's, US kept the checking account system, and had trucks full of paper checks transported between state lines for clearing, instead of clearing electronically. I think they just recently scrapped this system.

[mgjackson69]

As with all transactions of such sums... IF its a business transaction then your accounts are set up to deal with larger sums.

IF its a personal transaction (i.e. payment for a car) - then the Cashiers Cheque is the tried and tested method - its slow, its long winded, there are issues with crossing provinces, there is a delay in getting the cashiers cheque authorised, there is confusion as to what to do first... Pay in the Cashiers cheque before going to the DLT for transfer, or transfer first and they pay in the Cashiers cheque... whatever you choose, its going to take at least half a day !

Ultimately a transaction such as this requires a little trust and a little patience in each other. Additionally the issuing bank can be called upon to verify the cashiers cheque

Clearing of the actual check didn't take more than 10 minutes, but they charged me extra for it, as it was from a different province. Quite ridiculous as others have mentioned..

Funny that...I have often wondered the same thing.

When I explain to my wife that in USA, going to any bank with the name "Ethyl's Bank & Trust" is the same as any other, she has a hard time with that concept.

Each bank just as well be a standalone here.

Maybe the US is not the best example.. While Europe buried the checks back in the 80's, US kept the checking account system, and had trucks full of paper checks transported between state lines for clearing, instead of clearing electronically. I think they just recently scrapped this system.

USA is still an excellent example of "this is my bank", regardless of the location. This has been the case for a long time. I can go into any USBank branch (my bank) and do most anything I need to do, regardless if I am in Seattle or Sioux Falls.

As far as the "checking account system", it still exists in USA. But, checks do not take days to clear and are not hauled around in trucks. Checks are scanned and cleared electronically.

As an example, in USA I recently paid off an automobile loan. The loan was at the local bank in the hometown (my family is in the auto business there, but I bank in a different state). When I went in to pay off the loan, I offered the option of 1) do an ACH transfer to pay off the balance (the loan had been set up with automatic withdrawals from my bank each month), or 2) I can write a check for the payoff amount. The loan office told me it was much easier for her if I just write a check.

That was on Thursday afternoon...the transaction hit my bank on Saturday morning.

Edited April 20, 2016 by mgjackson69

[mortenaa]

USA is still an excellent example of "this is my bank", regardless of the location. This has been the case for a long time. I can go into any USBank branch (my bank) and do most anything I need to do, regardless if I am in Seattle or Sioux Falls.

As far as the "checking account system", it still exists in USA. But, checks do not take days to clear and are not hauled around in trucks. Checks are cleared electronically.

As an example, in USA I recently paid of an automobile loan. The loan was at the local bank in the hometown (my family is in the auto business there, but I bank in a different state). When I went in to pay off the loan, I offered the option of 1) do an ACH transfer to pay off the balance (the loan had been set up with automatic withdrawals from my bank each month), or 2) I can write a check for the payoff amount. The loan office told me it was much easier for her if I just write a check.

That was on Thursday afternoon...the transaction hit my bank on Saturday morning.

I can't remember last time I entered a bank back home. More than 10 years ago for sure. In Europe, nobody uses bank branches anymore. Its all done online, using electronic signatures. Wherever is applying for loans or paying your utilities. Transfers are instant. Smaller transactions are done by smart phone apps.

[mgjackson69]

I have been in the aforementioned local bank twice in the past 3 years....once to get the loan, once to pay it off.

As for my own bank, I have been there physically maybe twice in the past 10 years, and not at all for the past 5 years. The branch where I opened my accounts is in a state where I do not live anymore; my accounts are still there only because I have had no compelling reason to move to a different bank.