When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
Lot of fake Certified Checks (aka Cashier's Checks) out there. So says my wife, the ex-banker, and a branch manager at my local bank branch.
But the good thing about a certified check is you can usually call the issuing bank and verify authenticity during normal business hours. And as long as it is real, it is as good as cash since the buyer cannot stop payment and there are no NSF issues.
Back in the day when I worked in a bank, there were certified checks and Cashier's checks...two different animals, but perhaps not really. But I guess thieves have their ways with whatever.
We had fraud on the bank account of the business for which I work. It's 30-90 days before we can get our $ back. These guys did a great job on the forgery. Thankfully, the bank was on their toes after two checks were cashed at a branch. The creep was arrested on the third attempt.
Lot of fake Certified Checks (aka Cashier's Checks) out there. So says my wife, the ex-banker, and a branch manager at my local bank branch.
But the good thing about a certified check is you can usually call the issuing bank and verify authenticity during normal business hours. And as long as it is real, it is as good as cash since the buyer cannot stop payment and there are no NSF issues.
Yes, that is the way to do it. That's how I sold the wife's Subaru last month. I had my bank call their bank!!! By itself a Certified Check is too risky.
When I sold the S, we went to the buyers bank, had him go up and get a cashiers check in my name. I knew it had to be good, unless he paid off the teller in advance!
Yes, that is the way to do it. That's how I sold the wife's Subaru last month. I had my bank call their bank!!! By itself a Certified Check is too risky.
When I sold my mother's car, I went with the buyer to our local branch of TD Bank. He gave the teller cash and got a bank check. I accepted the bank check knowing that it had been issued by TD Bank.
I don't come in here often but I have some experience with counterfeits. We have caught few $20's We had the local police dept come in and instruct us. Our cameras caught them and they were picked up down the street in a local bar.
We have quit using the pens. Instead they told us to feel the bill. If you run your fingernail up and down over the right lapel you will feel ridges if it's real no ridges if it's not.
It's a discreet way of doing it and they said it's being taught to a lot of waitresses and bartenders.
fltsfshr
Yeah this is actually how the Federal Reserve people that inspect bills. If it's still in question it goes down to a room with like 2-4 people and they don't use anything scientific, or high tech..........they LITERALLY feel the bill and know just by texture if it's fake or not. The visual inspections and other light inspections etc. have been done but it's down to the human touch for those really hard to decide bills.
When I get cash for overseas trips, especially China, I always get the new $20 and $100 bills. If you take the time to examine them along with a "primer" on the security features, it becomes quite easy to see if a bill is counterfeit. The older bills are more difficult.
The new security features are designed for ordinary people to determine authenticity.
Color shifting ink, microprinting, watermarks, holograms, embedded mylar strip with the denomination, etc, etc.
11-02-2018, 12:54 PM
