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Taking a Cashier's Check

#22
+1 to everybody who's essentially said "why?".

There is NO reason in this day in age to use cashier's cheques. Paypal is great for BOTH parties (can still be scammed though, read the seller protection policy EXTREMELY carefully). If you're worried about the big bad internet having your CC details, do a bank transfer (risk is on the buyer's end, seeing as they're the one unwilling to do it the sensible way!). Money wire etc. works too, again, with some hassle/risk which should be assumed by the buyer for being difficult in the first place.

IF they INSIST that they send a cashier's cheque (because they're just way, way out of touch, or something crazy like that), then the "premium" they pay for that service is that they wait till it's cashed, and it's been verified good. That could easily take two months, depending on some banks' reversal policies. But - if they want the gear, and are insisting on being difficult - that's the consequence.

They can't say you weren't flexible ;)
 
#26
There is nothing at wrong with accepting a cashiers check if you know how to protect yourself. Call the issuing bank and confirm funds first. If it is drawn against national chain bank (Wells Fargo, PNC, BOA, etc.), you can even have it cashed there. Finally, don't ship until it clears. No big deal really as long as both parties are willing to wait it out.
 
#27
BigBigGuy44 said:
There is nothing at wrong with accepting a cashiers check if you know how to protect yourself. Call the issuing bank and confirm funds first. If it is drawn against national chain bank (Wells Fargo, PNC, BOA, etc.), you can even have it cashed there. Finally, don't ship until it clears. No big deal really as long as both parties are willing to wait it out.
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^ This. I've paid for things with checks issued by my credit union. I tell the seller that when he goes to the bank to cash it, have the teller call the phone number on the face of the C/U check to verify that the funds are available prior to shipping the bass (or whatever). Of COURSE I expect them to make sure it's good before they ship the item; but it's very easy for the cashing establishment to do so. Not a big deal at all. And for a local deal, yes, I ask for cash.
 
#31
Moley13 said:
+1 to everybody who's essentially said "why?".

There is NO reason in this day in age to use cashier's cheques. Paypal is great for BOTH parties (can still be scammed though, read the seller protection policy EXTREMELY carefully). If you're worried about the big bad internet having your CC details, do a bank transfer (risk is on the buyer's end, seeing as they're the one unwilling to do it the sensible way!). Money wire etc. works too, again, with some hassle/risk which should be assumed by the buyer for being difficult in the first place.

IF they INSIST that they send a cashier's cheque (because they're just way, way out of touch, or something crazy like that), then the "premium" they pay for that service is that they wait till it's cashed, and it's been verified good. That could easily take two months, depending on some banks' reversal policies. But - if they want the gear, and are insisting on being difficult - that's the consequence.

They can't say you weren't flexible ;)
Click to expand...

So call me out of touch and I'll call you Paypal salesman. Paypal is by FAR the worst outfit I've ever dealt with. They are always running pressure schemes to extract more cash from you and have more access to your accounts. They have absolutely REFUSED to charge my credit card as a credit card. They INSIST on a debit card and access to a bank account. And we have the gem of EBAY forcing everyone (dealers and buyers) to use paypal. I never do and happily there are some dealers that are miffed by the pressure as well.

So there are lots of ways to pay. Cashier's check is a good one. You just tell the seller of not send the item until they have the money. "easily takes two months" is total fantasy. Takes about 2 days 3 max in my experience. You could even send a personal check, but they CAN take a week or so to clear. That's why you get a cashier's check so you DON'T have to wait so long! USPS money orders work too. Same deal. If you are so HOT to get the item and worried about being ripped off, they for cripes sake DRIVE THERE WITH THE CASH! I have. Even two states over. I've done bank transfers and that is a major hassle (though not as big as paypal that is NOT your pal!) As far as I can see there is no perfect method that does it all. Each method has it's own hassles. You get to pick.

And for those of you only taking paypal, I'll tell you like I tell those people on EBAY: NO SALE!

Sure there are a lot of people who get along fine with paypal and have had no trouble... YET!

There are really no good choices here beyond order a new bass from Carvin. Hey, I just bought a bass at a guitar show and paid cash. Got it home and guess what? Dead as a doornail! This is life. No guarantees and LOTS of other humans trying to work the angles.
 
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#33
I've accepted cashiers checks in the past. A little common sense goes a long way:

1). specify which bank you will accept. It should be a bank with branches in your area

2). Tell the buyer that you won't ship until the check is validated

3). When the check comes , take it to the issuing bank, have them validate it and CASH IT.

4). With cash in your hand, ship the item.
 
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#34
bassbenj said:
So call me out of touch and I'll call you Paypal salesman. Paypal is by FAR the worst outfit I've ever dealt with. They are always running pressure schemes to extract more cash from you and have more access to your accounts. They have absolutely REFUSED to charge my credit card as a credit card. They INSIST on a debit card and access to a bank account. And we have the gem of EBAY forcing everyone (dealers and buyers) to use paypal. I never do and happily there are some dealers that are miffed by the pressure as well.

So there are lots of ways to pay. Cashier's check is a good one. You just tell the seller of not send the item until they have the money. "easily takes two months" is total fantasy. Takes about 2 days 3 max in my experience. You could even send a personal check, but they CAN take a week or so to clear. That's why you get a cashier's check so you DON'T have to wait so long! USPS money orders work too. Same deal. If you are so HOT to get the item and worried about being ripped off, they for cripes sake DRIVE THERE WITH THE CASH! I have. Even two states over. I've done bank transfers and that is a major hassle (though not as big as paypal that is NOT your pal!) As far as I can see there is no perfect method that does it all. Each method has it's own hassles. You get to pick.

And for those of you only taking paypal, I'll tell you like I tell those people on EBAY: NO SALE!

Sure there are a lot of people who get along fine with paypal and have had no trouble... YET!

There are really no good choices here beyond order a new bass from Carvin. Hey, I just bought a bass at a guitar show and paid cash. Got it home and guess what? Dead as a doornail! This is life. No guarantees and LOTS of other humans trying to work the angles.
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I've had my fair share of scrapes with PayPal - I've even lost some money there. That was mostly my mistake though. I have learned from that experience, and basically so long as you read the T&Cs carefully it's a great layer of insurance.

Not sure what you mean about debit card/bank account... I used to (very deliberately) only ever given access to credit cards, never bank account/debit card. When I did have my bad experience, they actually had to phone me repeatedly to convince me to pay them, because they had no way to extract the money themselves. These days I use a debit/visa card linked to a bank account which I only ever put money into when I'm going to spend it immediately. That works pretty well.

Sure, they can seem to put on the "pressure". But they don't really have any power over you - so long as you're confident and mature about your approach, I think it's a really great way to deal with the "trust" issue in an online world.

I'll admit I used to "hate" PayPal. I used to feel uncomfortable about them keeping my details, about the way they do business (quasi intimidation, but with no real power). I came to realise, though, I was just being stubborn and "capitalist suspicious". Now, I wouldn't do an online deal without it. Of course I'd take cash in person, though ;)
 
#38
Jeff Scott said:
I'm with bassbenj on this. Doing the USPS MO thing for 40 years and all parties have always been satisfied, and it does help weed out the scammers.
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I thought USPS MO's were 100% until I contacted the Postmaster General's Office and was told USPS MO's are forged on a relatively regular basis and when YOU TRY TO CASH a forged USPS MO, YOU are Investigated for fraud, since you a the one trying to obtain the cash.
 
#39
I use certified bank checks because I will not agree to Paypal's terms and conditions. I find it strange that anyone who has read them would. I obviously prefer seller to ship upon receipt (to some degree we are both taking a leap of faith), but I have no problem if the seller wants to take a day or two to verify or even hold out until the check clears.
 

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