Quote:
Originally Posted by DAVES
As I understand it, a certified check means the money is frozen in his account against this issued check.
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This is a misunderstanding but sadly, one that has seen many victims.
The information below is for both certified and cashier's checks.
(a) Certified checks can be cancelled so they are not really "good" until they clear.
But...***more important****
(b) Forgeries of certified checks abound. They look like the genuine article, though they often lack the perforated edge a real certified check would have.
Very important:
Banks will put a freeze on your ability to move any funds electronically for six months or more if you deposit such a check.
People have deposited them, thinking they would wait days to see if they cleared or not. **** Big mistake *** You get in a lot of trouble with your bank if you deposit a forged check, and they do not care one bit whether you knew it was forged or not. They also do not care one bit whether your wrote other checks against it or left it in the account to clear before trying to access the funds.
What to do?
Never deposit a check where you are supposed to pass part of the money on. Example: Check will be over the amount and you should pay the overage to the company that is going to pick up the object.
Probably best to just ask for cash for anything sold to those claiming to be Villagers.
You could call the bank issuing the check, or supposedly issuing the check, to verify that the check is genuine.