Checking on a check

I don't like to take checks from people I do not know when I sell
things, but for things that are to be shipped I sometimes do. I
usually try to find a phone number for their bank and call to
verify that there are funds to cover the check. Today I tried to
call about a check and was told that they could not disclose any
information without the account holder being on a conference
call. Do other people call about checks, and will the bank
usually tell you? I am just asking the bank whether there are
funds to cover the check I have in hand, which seems like a
harmless question, and i have gotten both yes and no as answers
at times.
Zach

You can have your bank check on it. They only give that info bank to bank.

That is a new one on me. I have in the past done what you do and NEVER had any of them say they could not give me that info sounds like they are either getting to much into the privacy thing or something is wrong other wise. I know if I cash a check at my bank or deposit it and it is bad I get a $30 charge to my account for it being bad

Insist on postal money orders and be done with it. Bank can say it's OK today and a crook can stop payment tomorrow with a check.

Dave

Seems like about half and half anymore. In the old days, you could have a check "certified" (or "hammered")- they would freeze the funds for that check until it was presented. Then everybody quit doing that, and you could call and they would verify funds. Now only about half will do that. Getting to where postal money order is about the only way to go- you know those are good.

Even if they'll verify funds, it doesn't mean the funds will be there by the time you present the check.

If it is a real amount of money, the crooks have pretty sophisicated ways of making anything mentioned go bad. They go so far as to get a real postal check, make a good copy of it, send you the good copy, then cash out the real one. Takes a while for the different money handlers to figure out what is good and bad, and can come back to you a couple weeks later as bad - longer than normal.

Anyhow this is what I have heard.

As the internet grew, we seemed to accept the bad for the neat convinience of it all, and now it is a playland for the crooks - they have access to millions of people to try to scam for a very very low overhead, so the odds of fraud keep going uo because they can make a good living at it - low cost of business, can get good money if even less than 1% of the people fall for it, and the open nature/ lack of international law enforcement allow it to go mostly unchecked.

I don't have an answer to it either.

As a buyer, some of the things 'required' to combat this is a bit muuch for me - I prefer emailing over phone calls, I don't like to walk into a stranger's house when he knows I'm required to be bringing over $1000 with me cash, as a farm business I prefer the paperwork trail of a check to show up on my records, and so forth. It's a double edged sword, and slows down the good real people more than the crooks!

--->Paul

Patriot Act. No bank, financial institution, etc is suppossed to give out any information that could be considered personally identifiable without consent of the owner of that information. Most banks and companies are getting away from giving out any information without prior consent. We deal with this at my job all the time and it's a good thing I think. I think it would depend on how you ask the question, but they should be able to tell you yes, the account has enough money to cover the check and that's about it though.

i take cash in person for the time being...if the gubmint crooks dont get their act together soon i'm going back to the gold,silver,guns and ammo standard.

I have my bank call banker-to-banker if the amount is significant. If the amount is not significant I don't bother.

I've called the bank in the past and had no problems. Like others have said, there might be enough there when you call to check but it can be gone by the time your bank runs it through his so I usually take it directly to his bank if there is enough to cover it and take the cash out. Works if his bank is in town otherwise cash only.

I never send cheques, but often send money orders which are fool-proof. Maybe suggest to your customers that you'd prefer those.

They don't give out that info to strangers,they don't know if you have a check or trying to scam someone.My own bank won't even tell me anymore.They say the guy could have the money in his account and stop payment on the check anyhow.
I got a check back two weeks after i cashed it that was no good.My bank says if a check bounces they run it through a second time to see if it will clear and they don't let you know.They say 80% of the bounced checks clear the second time through.

How are money orders fool-proof? That's a popular craigslist scam.

Yes, though those were some of the worst that were ripoffs? As I've heard, I donno. There are different types of money orders, but I don't know the difference - bank, postal, international.... Seems some of them are very easy to scam, from what I hear?

--->Paul

I've taken probably thousands of checks and never had a bad one yet. So I guess I'd just cash it and not get my shorts in a wad. If you are really concerned you could hold the parts 10 days but that's bad business and I never do. Tractor people are pretty honest. Now if I were selling to some other classes of people I'd want certified funds.

I first tell them the amount of the check and then ask if there is sufficent funds to cover the check, at that time.
If they refuse to answer the question ask for the supervisor if they refuse to forward to to the supervisor or that person won't answer either A) refuse the check or B) immediately get to the bank and cash it suggesting there is a question as to it's validity.

I took a check from another bank. Went to that bank and cashed it. Didn't use my bank. A week later the bank called me and said the check was no good. I told them, at the time I cashed it, you said it was good. The Bank wanted their money back. They used the excuse that when I cashed the check, their computers were down and they wanted me to make the check good. Large bank with the name of F!R$T. Never took another check from them again.

I just deposit them and go on. About 3-4 times a year Ill get a check back. Ive never not been able to collect one though.

They likely deem that as personal information... I mean... you're asking about someone else's financial position.
Today... there are strict regulations about disclosing the personal information of others by third parties.
Once upon a time the banks would do this. Not any more...

Rod

I made a specific request NO CHECK be run through twice on our business account. The problem is once its been run through twice its nolonger a "valid" debenture that will be honored by a bank. So even if you have the check in hand and they have enough money in their account for it to clear you can't get the funds even if you standing in their bank lobby.

If the check has bounced off their account once and you call to see if it will clear they'll usually tell you. If it will clear you get in your car and drive to that bank and cash it in at the lobby window. You can't do that if its already run through twice.

I've had people try to tell me its the "law" that a check has to be run through twice before its considered bad - but then its amazing how many deadbeats are part time lawyers on their rights.

When I worked for the Farm Credit System (Production Credit Assn., back then in 1982), I had an account that was driving me crazy. Old gal had sold the collateral (a few Holstein heifers), but would give me a postdated check, then call before I deposited it and give me some cock and bull story about why it was no good, so I couldn't present it. This happened over and over again. Total amount was around $5,000.

Went one time, and she said she was getting the annual payment on a real estate contract next Monday, and wrote me a check for the full amount, dated next Monday. Happened I knew the contract buyer, so called him the previous Friday and asked if they were paying the payment to Mrs. X on Monday. Just as I figured, the payment wasn't due for several months. But he said "We're actually a little heavy to cash right now, so if you want us to pay it Monday, we can. Meet me at the bank at 10, when they open."

I went in to the office at 8 on Monday, told the secretary I was going to be out for awhile, would be back about 10:30. I knew Mrs. X would call, but didn't want her to be able to find me. Drank coffee for awhile, then showed up at the bank at 10. Contract buyer was there, and had the payment on the contract to be deposited to Mrs. X's account. I fell in behind him in line. When he left, I stepped up to the window, and presented the check for cash. Teller, who knew both of us very well, said "I don't even want to know what's going on here", and counted out the money to me.

Went back to the office with the cash, and told the cashier to pay Mrs. X's account in full with the cash I handed her. She looked at me funny, and said Mrs. X had been trying to reach me all morning. She, also, opined that perhaps it would be best if she didn't understand what was going on. Went to my office, and in a few minutes, Mrs. X was on the line. I said that, as she had promised, the contract payment had been made, and I had cashed her check and paid off the loan. She called me pretty much every name in the book, to which I inquired, "You're not trying to tell me that you gave me that check with the intent that it would bounce? That's a felony, you know." To which she opined that I was a worthless $0B, and slammed the phone down.

The most remarkable part of this is that a couple years later, she called me, all sweetness and light, and said they were going to buy a car, and would we like to finance it? I politely declined. . .

Cash is the only sure deal. I'm willing to take very few checks any more. Been burned too many times.

It has a lot to do with who your clients are and what market your in. In the Houston area there is no accountability like there was in the small IA town I grew up in. A bandit can cheat people every day in a town of 3 million and the word never gets around. Try that 1 time in a town of 1000 and your toast.

I agree with Cowman in respect that I've never been burned by the antique tractor guys.

I'm with you,Ray.

I'd much rather take a personal check over a money order.

Just because the check is good when you call the bank doesn't mean it won't bounce.

Simplest solution is to tell the buyer that you will accept checks, but you must wait ten business days for the check to clear before you can ship. But of course if they pay by US Post Office money order you will ship immediately. I'll bet they'll decide to pay by money order.