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Day amp arrives Cashier check returned

Today an amp I shipped across the country arrived safely at it's destination. Oddly enogh while I was at the bank today I was informed that a rather large cashier's check did not clear.

I called the guy up and he answered the phone (good sign) He say's he does not understand what could have happened and will check in to it first thing in the mourning.

My bank say's he may have stopped payment on the cashiers check. They could not give me any other details. Just that I would be recieving the check back in the mail in a few day's

Does this kind of stuff ever turn out good? Or am I screwed?

I will follow up tomorrow.
128x128glen
sugarbrie
3,854 posts
 
I agree with talking with your bank.

I wonder if the issuing bank can be forced to honor the check if it was canceled in bad faith?

jcaudio's avatar
jcaudio
237 posts
 
The whole idea od cahiers checks being as good as cash are false. I took one for a watch I sold which later bounced. I was told that the buyer must have put a stop on the check as nothing had been initiated from the bank end. After inquiring amongst various bank officials it was confirmed. I later filed a claim with the police department as the watch was an expensive Rolex. After report was filed I turned it over to my insurance company who covered my loss as theft. I had a binder on the watch which may have had something to do with them covering it, but you may want to check anyway.
alexanderj
139 posts
 
Glen: The concern I have is that it cost him money to stop the check (my bank would be over $25). The eternal optimist in me is hoping it is some sort of bank computer miss key. If it is buyer's remorse or jitters, he owes you the fees your bank will charge you for returning the check in addition to the stopped amount.

I value your posts/contributions. Hope this works out for you.
zaikesman
3,017 posts
 
Fatparrot, the "bank draft" with the names typed in by the bank that you are describing is a "cashier's check", as far as I know. All of this actually makes me wonder if money orders aren't really more secure. You can't claim you "lost" a money order and get a refund, or "stop" it, can you? I suppose they could always be stolen or forged, though. And then there's the flip side of this issue - what if you as a buyer are asked (understandably, given the above) to pay for something on A-Gon by a method basically equivalent to cash (does it exist?) before the seller will ship it, and then nothing shows up? The scams referred to above make me want to do all of my transactions in person - but then, I have never yet had a problem here on the 'Gon (or E-Bay). Are there any signs you can look for to protect yourself in advance?
drewfidelity
178 posts
 
It has been my experience that short of a cash transaction, one that involves United States Postal Money Orders are the next best thing. They cost 90 cents and can be made out up to $750. You can cash them at the post office or deposit them into your bank account. You can check their authenticity before sending out your components at the post office.

As others have already mentioned, cashiers checks can be stopped. Each State has different laws that govern the procedures involved. I hope that your transaction works out. Good luck to you.

Drew
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