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

[KonaRain]

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

Gotta check, because it can be stopped with a phone call, making it worthless (in US)

Aloha

[grkt]

CASHIER CHEQUE: there is no guarantee

 

DRAFT: money is locked and cannot be canceled

 

Only draft cheques are safe.

 

 

 

[grkt]

On 2/5/2016 at 4:22 PM, fosseway said:

I agree with HHTel, I have been reading so much here about cashiers cheques, this is the first post about a bankers draft. I am quite sure that a cashiers cheque can be stopped, a bankers draft cannot.

 

This is the only truth. Only DRAFT are 100% safe and cannot be canceled for ANY reason.

 

 

[BritManToo]

On 2/3/2016 at 8:04 PM, mortenaa said:

Is there any chance at all that a Cashier Check would bounce or would cause any problem?

Cash only, meet him in a bank, and he can change it for cash.

[grkt]

To clarify about cashier cheques and drafts I posted this:

https://www.thaivisa.com/forum/topic/1045165-difference-draft-vs-cashier-cheque-why-most-people-do-not-know/

 

 

[Fruit Trader]

1 hour ago, BritManToo said:

Cash only, meet him in a bank, and he can change it for cash.

Tell him to bring a bit less, the cars 2 years older now

[Just Weird]

On ‎2‎/‎3‎/‎2016 at 8:14 PM, ardokano said:

If not fake.. any problem

its responsible for paying the amount from bank. so it mean hold ammount .

But i hear now have some anticoruption company so.... How it be .. can hold money and check... where from money

my friend sell house.. chek near 5 days. But his go out Thailand so take cash only after 3 weeks, and be angry.

Ps ammount be 7 m

Well that's clarified it.