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Need help - is cashier's check ok?

katiedid

Ideal_Rock
Premium
Joined
Apr 9, 2007
Messages
2,255
Hi all, I have a ring for sale on Loupe Troop. I have a lady interested in buying it. She says she no longer has a pay pal account and wants to send me a bank certified cashier's check, which she would send me, I would cash and then send her the ring. Does this sound like a scam? I'm nervous as I've never done this form of payment before. Thanks for any advice you can offer.
 

diamondseeker2006

Super_Ideal_Rock
Premium
Joined
Jan 11, 2006
Messages
55,631
There's a thread on this already. It's a scam. Never accept anything but Paypal. Tell her she can get a friend to do Paypal for her, but you will not accept anything but Paypal. The person sent everyone on LT an offer to buy their things. I would not give them any personal information at all. They might want to steal your identity.
 

katiedid

Ideal_Rock
Premium
Joined
Apr 9, 2007
Messages
2,255
diamondseeker2006|1476709687|4087869 said:
There's a thread on this already. It's a scam. Never accept anything but Paypal. Tell her she can get a friend to do Paypal for her, but you will not accept anything but Paypal. The person sent everyone on LT an offer to buy their things. I would not give them any personal information at all. They might want to steal your identity.
Thank you! I was afraid of this.
 

denverappraiser

Ideal_Rock
Trade
Joined
Jul 21, 2004
Messages
8,749
Generically speaking, a cashier's check is no more guaranteed than any other check. It may actually be worse. When you deposit a check, the bank holds the funds for a certain amount of time while the check clears. This is what befuddles people because when you 'cash' a check, they are giving you money from the account even though they haven't got the funds from the other bank yet. The check can still bounce, and the risk is still on you. If you're going to take a check on a personal sale, ask the bank how long they're going to hold the funds and don't release the merchandise until that time expires. If we're talking an out-of-town check it's usually something like 7 days. Out-of-country can be pushing a month. Ask the bank. Scams are COMMON here, especially if it's an international deal.
 

katiedid

Ideal_Rock
Premium
Joined
Apr 9, 2007
Messages
2,255
Tourmaline|1476712462|4087874 said:
https://www.pricescope.com/community/threads/am-i-being-scammed-warning-for-those-selling.226161/
Sure enough - same person. Thank you!
 

OoohShiny

Ideal_Rock
Premium
Joined
Apr 25, 2014
Messages
7,206
denverappraiser|1476722188|4087926 said:
Generically speaking, a cashier's check is no more guaranteed than any other check. It may actually be worse. When you deposit a check, the bank holds the funds for a certain amount of time while the check clears. This is what befuddles people because when you 'cash' a check, they are giving you money from the account even though they haven't got the funds from the other bank yet. The check can still bounce, and the risk is still on you. If you're going to take a check on a personal sale, ask the bank how long they're going to hold the funds and don't release the merchandise until that time expires. If we're talking an out-of-town check it's usually something like 7 days. Out-of-country can be pushing a month. Ask the bank. Scams are COMMON here, especially if it's an international deal.
I believe I'm right in saying that in the UK, it's possible for a check to bounce or be cancelled up to 6 months after it was cashed :shock: although I can't remember where I read/saw that and may even be making it up... :???:
 

ChristineRose

Brilliant_Rock
Premium
Joined
Aug 5, 2012
Messages
926
Maybe someone could write a resource article with things like how to file a Paypal claim, how not to get mugged when buying off Craigslist, how not to buy a CZ off of E-bay and it could be stickied at the top?
 
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