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Old 07-04-2016, 08:19 PM   #11
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Lots of people have been cheated with cashier's checks that banks cleared and said later were no good. Some people will not take them because of that. That is why we used a wire.
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Old 07-04-2016, 08:25 PM   #12
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Quote:
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Lots of people have been cheated with cashier's checks that banks cleared and said later were no good. Some people will not take them because of that. That is why we used a wire.
Never heard that one. It seems to me that if a bank clears a cashier's check, it's their loss if it's no good.
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Old 07-04-2016, 08:33 PM   #13
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A certified check is where the bank certifies that the funds are available, so unless the bank itself is part of the fraud, if it is from any nationally recognized bank and stamped it should be good. A cashiers check or bank check is from the bank itself where it's funds are being used after they take the money from the customer's account, similar to a certified check. Wire transfers have also been falsified. By holding the title until funds clear and not canceling the insurance, your trailer is still covered for theft if the checks are false.
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Old 07-04-2016, 08:35 PM   #14
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That from a man who certainly knows how to buy and sell travel trailers.
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Old 07-04-2016, 08:35 PM   #15
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https://en.wikipedia.org/wiki/Cashier%27s_check
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Old 07-04-2016, 08:41 PM   #16
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Well, I for one am not going to sell anything to anybody anymore what with all the counterfeit money, fraudulent cashier's checks, and phony certified checks floating around. It's a wonder the economy is still afloat.
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Old 07-04-2016, 08:43 PM   #17
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Cathyy is right- there are fraudulent cashiers checks. People falsely think they are bullet proof. If I were selling to a stranger in the big city I would want cash or better yet a wire.
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Old 07-04-2016, 09:00 PM   #18
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Well, I for one am not going to sell anything to anybody anymore what with all the counterfeit money, fraudulent cashier's checks, and phony certified checks floating around. It's a wonder the economy is still afloat.
Yep, that's it, fear of being scammed has made
me a hoarder. Get stuff but never let it go. Thanks for a new excuse
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Old 07-04-2016, 10:12 PM   #19
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Never heard that one. It seems to me that if a bank clears a cashier's check, it's their loss if it's no good.
That is what I would think but many people have found out differently. Some individuals do not take cashier's checks any more because of such losses.
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Old 07-04-2016, 11:26 PM   #20
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It seems to me that any payment depending on a paper document is potentially subject to failure due to a counterfeit document, which won't be discovered until long after the trailer is gone to the buyer/thief. Despite this, sales continue and almost everyone gets their money as intended. Since most people are not crooks, this doesn't surprise me; the surprising part is that so many people still use paper for financial transactions, decades after better tools became available.

I have purchased very few vehicles (I tend to drive them until they have at least a quarter million kilometres on them), and all have been by cheque. For our van it was just a non-certified personal cheque - I guess they figured that if the cheque bounced, they knew how to find me (given that they had the VIN and knew that I had registered it)... but that doesn't work so well for a private individual selling a trailer.

Some form of electronic transaction (and not the scanning by a mobile app of a written cheque) would be the only way around this.

In Canada, an Interac etransfer is a simple and inexpensive way to transfer money to a stranger without exchanging any banking information. It works without anyone going to a bank, as long as they're willing to use a mobile banking app or website. Perhaps there is a U.S. equivalent. There have been extensive discussions in this forum about sending money to Escape Trailer Industries, but none of the methods sounded simple or quick, and the discussions are usually made more complex by cross-border and cross-currency issues, which are not relevant to the used trailer sale.
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