I was asking 400 for a mower i had.A guy offered me 350 in cash,so i sold it.I loaded it on his trailer and he pulls out his checkbook.I told him the deal was cash.He said all you have to do is write cash on the check where you name goes and cash it.I told him it was 400 if he paid with a check.He was upset,but wrote a check for 400 and left.Anyhow,my question is what does writing cash on a check really do?With all the banking laws i wouldn't think a bank would accept that,what if the check bounces?
- Thread starter Ray
- Start date
Anonymous-0
Well-known Member
You'll have a nice conversation piece..........Sure won't be able to prove that the guy wrote "Ray" a bad check. OTH, someone will be all set to accuse you of stealing the check and trying to cash it yourself.
Hope it works out for you though.
Dave
Anonymous-0
Well-known Member
my bank take them and give me the cash, think they would just take some of my money if it bounced, think Ill just have them put my name on them from now on, never thought bout it be fore thanks.
Shetland Sheepdog
Well-known Member
Cash means greenback dollars!! A check is nothing but a check, regardless of how its made out, until its cashed, has cleared the bank, and you have the greenbacks in hand!
The easiest way to deal with a questionable check is to cash it at the maker's bank, (if their bank is available to you) and ask if it will clear before endorsing it!
BTDT, HTH, Dave
The easiest way to deal with a questionable check is to cash it at the maker's bank, (if their bank is available to you) and ask if it will clear before endorsing it!
BTDT, HTH, Dave
Cash means green pieces of paper with dead presidents on them. A check is worthless, the guy can cancel the check or not have the money in his account to cover it. You should have asked to see the $350 in greenbacks first.
Did you at least get his drivers license and address in case he screws you over?
Did you at least get his drivers license and address in case he screws you over?
It makes it a bearer instrument, which means anybody can cash it if you lose it. Put your name on it and then only you can cash or deposit it. Without sounding too jaded, you probably shouldn't have taken the check since you had no means to verify 1) it was his, 2) there was money in the account, or 3) the money would still be there when you cashed or deposited it.
I hope it works out OK for you though.
I hope it works out OK for you though.
I have wrote cash on checks,But I'm honest.
I thought it was to alleviate seller party for being solely responsible for payment if it was a bad check
If sellers name is on the "Pay to" line then he becomes responsible.
I have had people I didn't know to ask me to write it out to cash.
James Howell --- Help me out on this . Is this correct ?
I thought it was to alleviate seller party for being solely responsible for payment if it was a bad check
If sellers name is on the "Pay to" line then he becomes responsible.
I have had people I didn't know to ask me to write it out to cash.
James Howell --- Help me out on this . Is this correct ?
People that ask you to write it out to cash are usually trying to avoid a paper trail and the IRS. Again, if it's to cash, anybody can cash it.
It doesn't relieve the seller from anything, as he is not liable for anything. If there is not enough money in the account (the buyer screwed you), the bank simply won't cash it.
The way you will become responsible for the amount, regardless of who you name on the check, is if you deposit it, and before it clears, you withdraw the money and spend it on something else. (Most banks will put a hold on the amount though, to prevent this.) Then a few days later, the bank discovers that there is no money in the buyers account, and looks to you for the withdrawn money. This is how people get screwed by these internet scams all the time.
It doesn't relieve the seller from anything, as he is not liable for anything. If there is not enough money in the account (the buyer screwed you), the bank simply won't cash it.
The way you will become responsible for the amount, regardless of who you name on the check, is if you deposit it, and before it clears, you withdraw the money and spend it on something else. (Most banks will put a hold on the amount though, to prevent this.) Then a few days later, the bank discovers that there is no money in the buyers account, and looks to you for the withdrawn money. This is how people get screwed by these internet scams all the time.
MarkB_MI
Well-known Member
- Location
- Motown USA
I used to write checks out to "cash" all the time. Back before the days of the ATM machine that was a common way to make a bank withdrawal.
If the check bounces, it doesn't matter whether it was made out to cash or made out to you. Either way your bank will charge YOU for the bad check. If his account is at a local bank, you might want to try to cash it there first. That way you'll spare yourself the bad check fee your bank will charge you.
If the check bounces, it doesn't matter whether it was made out to cash or made out to you. Either way your bank will charge YOU for the bad check. If his account is at a local bank, you might want to try to cash it there first. That way you'll spare yourself the bad check fee your bank will charge you.
Anonymous-0
Well-known Member
A check is not cash. A certified check is better but still not cash. You should have told the guy you'd go with him to get cash at his bank or with his ATM card before he could take the mower. If the check bounces, I think you're SOL. Did you get his full name and right out a bill of sale and keep a copy? Did you keep a record of his phone number? Too many scammers out there to trust anything less than cash. Don't worry about the guy being mad. He didn't hand you cash so his offer was false. Hope the check clears. Let us know. Dave
Anonymous-0
Well-known Member
Forgot to add that you should go to his bank to cash the check right away before he has a chance to cancel it. If it bounces, he will be dinged and not you cause it's not your bank. Dave
IndianaRed
Member
If he went to that guy's bank they would charge him a fee to cash it, makes it even less "cash". So either way it's a bad deal, either pay a fee or deposit it at your bank and pray that it clears.
Brian Jasper co. Ia
Well-known Member
Anymore, if I don't know the buyer who wants to pay with a check, it's come back with actual green $$ or we can go to your bank and I'll cash it right after you write it. The teller is not going to cash it if the $$ is not there. Just like most auctions have on their number cards, nothing removed until settled for.
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