Bank cheque security?

[pinarelloman]

We are selling our Landcruiser & the guy wants to pick up the vehicle & pay with a Bank cheque. He banks with Nab & we bank Anz. Are bank cheques 100 percent guaranteed?

I thought there were some issues with them being forged?

[speewa158]

Used Unmarked Non-consecutive Notes are as good as a Bank cheque . Oe pop him down to the bank to cash it there & then  & lm a trusting soul 

[fishfinder]

It will be no problems if it is from the Nigerien branch

[speewa158]

Some Nigerien Banks are on the edge of a river & the Bottom of the Harbor schemes are just that with big Rocks & rope ..  Enjoy       

As the Nigerien Naira is running at1.ooNGN to .00555556USD you should be up to your ears in $$ or Naira as the case may be 

[fishfinder]

Some Nigerien Banks are on the edge of a river & the Bottom of the Harbor schemes are just that with big Rocks & rope ..  Enjoy       

As the Nigerien Naira is running at1.ooNGN to .00555556USD you should be up to your ears in $$ or Naira as the case may be 

all I could read was blah blah blah blah - seriously what are you on ? 

[achjimmy]

Yep bank cheques are vulnerable, besides being the remote possibility of a forgery they are also able to be cancelled by the issuer.  All though you can put special clearance on them that still takes a day and if later they are found to be forged the bank will reverse it!   Best thing I think today is to attend his bank and witness the direct transfer of funds from his account to yours!

[firefox]

umm bank cheque = nearly no security. It's a cheque!

I've had someone leave the premises and then ring the bank and cancel their cheque, and unless you have all their details your stuffed. So either cash, or as someone suggested, a trip down to the nearest bank and a physical deposit (or real-time transfer at their bank) all of which only cost about $20 bucks..

[britts]

Just sold my cruiser, we did an Internet transfer whilst sitting at the table, he then emailed me the receipt which we printed and both signed,


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[GeoffA]

Just sold my cruiser, we did an Internet transfer whilst sitting at the table, he then emailed me the receipt which we printed and both signed,

Should be OK, especially if he logged on through his own internet account.
I've heard of people using the sellers computer to do the bank transfer, then claiming their account had been hacked.
Third hand info though......

[D4D]

You could always suggest you will send the rego papers when the funds have cleared...

[callmejoe]

What's this world coming to...

I just brought a big brick on wheels.well that's what my fuel gauge is telling me.

After a quick haggle price agreed upon. Off to the bank got myself a bank cheque no problems. I gather I must just have that trust worthy persona. 

Joe

[jwb]

When buying my 150 Prado, what I did was I met the seller at my bank, he came with me to the teller and I sourced 2 cheques
1 x finance amount owing
1 x balance dollars.
I then went with him to his bank ( next door) & went with him to his teller.
Witnessed him paying the oustanding amount.
Then gave him the "Balance owing" cheque.

I felt very comfortable doing this!

cheers

[dazzler]

Yep. Meet at the bank. Can't go wrong.

[Bird]

I don't think I wanna sell anything ever again...

[pinarelloman]

It looks like a trip to the nearest nab branch will be required.

[HEM19X]

Release the tug when the funds are sitting in your account, especially if you do not know the person or have done some checking into them... Google earth their address etc is a good start to find out if they are Legit! Holding back the rego, taking copies of their Driver's Licence etc can give you some comfort also.

Be especially prudent around holiday times when banks are closed as clearance times on cheques are extended.. By the time a cheque bounces around Xmas, it could be 2 weeks before you find out!!!

[nab]

When I sold my Patrol I told the guy (in a polite way) he can pay however he wants but the Patrol doesn't leave my driveway until the cah is in my hand or money in the bank. He paid cash.

When I bought my last 2 cars they were both by bank cheque, but I am an honest guy... hahaha

[scarpsD40]

Some Nigerien Banks are on the edge of a river & the Bottom of the Harbor schemes are just that with big Rocks & rope ..  Enjoy       

As the Nigerien Naira is running at1.ooNGN to .00555556USD you should be up to your ears in $$ or Naira as the case may be 

if only everyone used green currency like you and I speewa.....
We just lead a simple life!

[Nay-DMAX]

As mentioned above bank cheques can be cancelled after being handed over the only thing you know about them opposed to a personal cheque is that they have to be drawn on cleared funds.  Even an internet banking transfer can be cancelled but there is a time limit on that and you can wait 24 to 48 hours for the funds to go from their account to yours.

[Bird]

the other thing if you expect cash, buyer will need to inform the branch that he wants X thousand cash on X date before turning up...

[Black-Pig]

As mentioned above bank cheques can be cancelled after being handed over the only thing you know about them opposed to a personal cheque is that they have to be drawn on cleared funds.  Even an internet banking transfer can be cancelled but there is a time limit on that and you can wait 24 to 48 hours for the funds to go from their account to yours.

I think you got this the wrong way around... Personal cheque can be cancelled by ringing and quoting check number. Bank cheque they take the money out of your account there and then and is like walking around with a wad of cash, and they charge you $10 or $15 dollars to do it... I have used bank cheques and had no problem. I have also wandered into a few bank branches and asked for fair amounts and never been knocked back due to not enough cash in stock.

[Bird]

I think you got this the wrong way around... Personal cheque can be cancelled by ringing and quoting check number. Bank cheque they take the money out of your account there and then and is like walking around with a wad of cash, and they charge you $10 or $15 dollars to do it...

bank chq's can be cancelled the same as anything.. what happens if you lose it? stiff Shit? your out cash, or you ring bank and cancel it?

[Black-Pig]

Really Bird I dont know... Never been in the position of having a lost bank cheque. It was just what I thought I was told once in the dim distant past. I go the cash option most of the time now as too tight to pay the extra. And makes me feel good annoying the car dealer or whom ever it is by making them count it!

[Nay-DMAX]

I think you got this the wrong way around... Personal cheque can be cancelled by ringing and quoting check number. Bank cheque they take the money out of your account there and then and is like walking around with a wad of cash, and they charge you $10 or $15 dollars to do it... I have used bank cheques and had no problem. I have also wandered into a few bank branches and asked for fair amounts and never been knocked back due to not enough cash in stock.

They can cancel a bank cheque as well and a lot of branches will have limits on the amount you can take out in cash unless you give them notice and the amount of notice can depend on how often they get money in.

[pinarelloman]

OK, I spoke to NAB who he banks with.
He & I go into the bank. The teller confirms to me he has said amount in his account. He withdraws a bank cheque while I watch.
He takes the car, but I keep the rego papers and a copy of his license until the funds clear in my account. About $15.00

You can also have a telegraphic transfer that clears within a couple of hours. This costs $35.00