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Discussion Starter #1
This is what happen,
I sent a cashier check to a man for the purchase of a seat,
then the same day, I was able to buy the same seat for $100. less,
So I bought it and told the guy about it,\and he said no problem I'll send your check back to you.
well
almost 3 weeks later, still no check and the guy isn't emailing back,

The bank says I have to wait 30 days to put a stop payment on the check,

Is there any advise out there, or am I just out of luck,
Thanks for any replies
 
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whaning said:
The bank says I have to wait 30 days to put a stop payment on the check,
Now this is news to me.

I would think there should be some way to prevent someone from cashing a check.
 

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Call him on the phone. Email is not infallible. If that don't work contact the postal mail fraud division, that is bound to not work too but gives you some time to cool off before you go to the mailing address and stomp $100 worth of daylight out of the guy.
 
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I think I'd be on this forum just to read Polecat's wisecracks, even if I didn't own or ride a bike!
 

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I used to work for a major financial institution and each bank has their own rules.

First step, if you still have your copy of the check, call your bank and see if the check has been cashed. If the check's been cashed, there you go. You are probably SOL. Your only recourse would be small claims court, although I'm not an attorney. You could seek legal counsel.

If it hasn't been cashed, you should be able to place a stop payment on it right away. Once the stop payment has been executed, you might have to wait 30 days to get your money back. Go to your local branch and speak to the branch manager, not a teller or some flunky on the phone. If they value your business, they should take care of it right away.

Good luck.

Bartman
 

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On the other hand if I had an item for sale and you sent me payment (which means I may have told others it was sold) , then you are the same as an ebay buyer than reneges on a purchase... :roll:
 
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I thought that the purpose of using a cashiers check was that you couldn't stop payment on it.
 

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Cashiers check

...........When I bought my last bike, Fifth-Third told me I could only put a stop on it if I lost it before I gave it to the seller, not if I changed my mind.
 

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Hal @ Honda Direct Line said:
I thought that the purpose of using a cashiers check was that you couldn't stop payment on it.
I can stop a cashiers check through Am South. I don't know about other banks. I also found out you can recall a wire transfer! :( The only thing I'm comfortable with anymore is cash.......
 

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Not sure about the check, but your integrity sure smells like crap to me.

Some people can be Bought for as little as $100.
 

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whaning said:
This is what happen,
I sent a cashier check to a man for the purchase of a seat,
then the same day, I was able to buy the same seat for $100. less,
So I bought it and told the guy about it,\and he said no problem I'll send your check back to you.
well
almost 3 weeks later, still no check and the guy isn't emailing back,

The bank says I have to wait 30 days to put a stop payment on the check,

Is there any advise out there, or am I just out of luck,
Thanks for any replies
the bank lied to you

you can do a fraud--stolen and stop it right now

cashiers checks are no longer safe, due to this practice

its a common inet thing to do, pay for an item, get the tracking numbers, and stop the check for fraud reasons
 

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whaning said:
This is what happen,
I sent a cashier check to a man for the purchase of a seat,
then the same day, I was able to buy the same seat for $100. less,
So I bought it and told the guy about it,\and he said no problem I'll send your check back to you.
well
almost 3 weeks later, still no check and the guy isn't emailing back,

The bank says I have to wait 30 days to put a stop payment on the check,

Is there any advise out there, or am I just out of luck,
Thanks for any replies
Ok here is my 2 cents, you contracted for a seat sent a cashiers check then had buyers remorse and called the guy to cancel the sale. The seller said no problem and now is not answering your e-mails. Did you get a phone number? Did you mail the check? Did you try to lookup his address using white pages and calling him? If all else fails and I assume you have an address contact the locals and have them pay him a visit. You have 2 choices demand the seat or the check. The locals should be able to help.
 

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Discussion Starter #13
Yes I do have all that info,
but had not thought of that,
Thanks
to all that replied.



Hawkmoon said:
whaning said:
This is what happen,
I sent a cashier check to a man for the purchase of a seat,
then the same day, I was able to buy the same seat for $100. less,
So I bought it and told the guy about it,\and he said no problem I'll send your check back to you.
well
almost 3 weeks later, still no check and the guy isn't emailing back,

The bank says I have to wait 30 days to put a stop payment on the check,

Is there any advise out there, or am I just out of luck,
Thanks for any replies
Ok here is my 2 cents, you contracted for a seat sent a cashiers check then had buyers remorse and called the guy to cancel the sale. The seller said no problem and now is not answering your e-mails. Did you get a phone number? Did you mail the check? Did you try to lookup his address using white pages and calling him? If all else fails and I assume you have an address contact the locals and have them pay him a visit. You have 2 choices demand the seat or the check. The locals should be able to help.
 

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cashiers check==

Hal, a cashiers check is just another way of saying "certified funds". I had to place a STOP on a cashiers check last year when it was lost in the mail, no problem but there was some type of a waiting period with my bank, I forget what it was but was reasonable.
Buck
 

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whaning,

Go to your bank and tell them the story. I would suspect that the check has been lost in the mail. They need to put a stop on it. It can be done.

I have seen cashier's checks go through the same procedure as a personal check.
 

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Hal @ Honda Direct Line said:
I thought that the purpose of using a cashiers check was that you couldn't stop payment on it.
I believe you are correct. I "thought" a cashiers check is supposed to be "the same as cash" (like a money order).
 

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Just post an address. I'll bet there are people here on the board who lives close to him that wouldn't mind paying him a "personal" visit to try and resolve this.
 

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I guess I never thought about what the options were on a cashier's check because I have never asked for one back - nor have I lost one. But if one were to get lost it would make sense that there would be an option to stop payment on it.

Here is what I learned:

Cashier's Check
A check written by a financial institution on its own funds. It is then signed by a representative of the financial institution and made payable to a third party. A customers who purchases a cashier's check pays for the full face value of the check and usually also pays a small premium for the service. These checks are secured by the funds of the issuer - usually a bank - and include the name of a payee (the entity to which the check is payable), and the name of the remitter (the entity that paid for the check).

Investopedia Says: An individual could use a cashier's check instead of a personal check to guarantee that his or her funds for payment are available. A cashier's check is secured because the amount of the check must first be deposited by the individual into the issuing institution's own account. The person or entity to whom the check is made out is then guaranteed to receive the money when cashing the check.

Cashier's checks differ from certified checks in that the funds owing on a cashier's check are taken from the issuer's account, while the funds owing on a certified check are taken from the remitter's account.

Cashier's Check
Check that draws directly on a customer's account; the bank becomes the primary obligor. Consumers requiring a cashier's check must pay the amount of the check to the bank. The bank will then issue a check to a third party named by the consumer. Many businesses require that bills be paid by cashier's check instead of personal check, because they are assured that the funds are available with a cashier's check.

Legal definition
Under Article 3 of the Uniform Commercial Code, a cashier's check is effective as a note of the bank. Also, according to Regulation CC (Reg CC) of the Federal Reserve, cashier's checks are recognized as "guaranteed funds" and amounts under $5000 are not subject to deposit holds, except under certain circumstances.


Alternatives and risks
Money orders are a popular alternative to cashier's checks and are considered safer than personal bank checks. However, they are generally not recognized as "guaranteed funds" under Reg CC.

Counterfeit cashier's checks have been used in certain scams to steal from those who sell their goods online.

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mr.b said:
Not sure about the check, but your integrity sure smells like crap to me.

Some people can be Bought for as little as $100.
I don't see it as an integrity issue. He contacted the seller, and the seller agreed to cancel the sale. I assume, if the seller had not agreed, then he would have received the seat.
 

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Discussion Starter #20
Answer to the Cashier check problem

last night I went to different bank person,
She put a stop on the check right then, and said if I don't recieve it,
than on the 30th day after I purchased it, I can have my money back,

so

it appears you can place a stop payment on it at any time after purchase,

so Hal, I guess it's not as good as cash,

Just that it is a check coming out of the banks account, instead of your personnal account., Just safer, I guess.

Thanks
to all of those that has helped.
 
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