I got a question regarding checks. If someone posts that they feel they can answer it, I'll post the question.

Thanks a bunch.

 

I worked for a bank for like 2 years. I may be able to help out.

 

How much Check would a banker Check, if a Banker did check Checks?

 

Alright heres the deal.. So I get what the lady claims is a "Certified Business Check".. Does that have any more significance than a regular check?

The check itself has a colored backround, it has the companies name on it. The company is a Diamond Business located in New York City, New York. Near madison Square Garden. The company is real, and seems legit. The building exist, it has a website.. and there is information about this company on various forums.

So basically, the check has the comapnies name, address etc.. then to the right of that, Citi Banks "New york" address same stuff.

It then has my name and the amount, "xx,xxx" and it it is electronically SIGNED... the entire check is printed out. The back looks normal, has the "Endorse here" lines and the warnings and crap on the bottom in a little box. It looks legit.

But there is a scam where a check shows cleared in 3-5 business days, then you send your car to them, but the check infact really isn't legit and you find that out 2 weeks later and are out of a car. With nothing to show for it...

I will not let that happen, so help me out!

What am I looking at, tell me if anything seems fishy !

Thanks

-brian

 

Certified checks can only be issued on guaranteed funds, meaning that if it were made out for say $20,000 then the party from whos account it came would have to have that 20g in their account cleared and accounted for. If not the bank would not issue the check.However these checks would have the banks name as issuer not the business.The checks you and I write for bills and what not are not guaranteed due the fact that we could write whatever amout on there regardless of what is actually in the account. Your bank doesn't know you have written a check until it is presented to them for payment at that time they clear it (if there is money in the account) or they send it back to the presenting bank unpaid.

I think in this case the buyer has given you a check from their business account that was printed on their printer. If so call Citi Bank and verify weather the funds are available. Most banks will do this, they dont tell you how much is in the account they just say if the check you have will clear or not. The only bank I ran into that wouldn't do this was WaMu. I'm not sure if it holds true in NY but here in CO for an amount that large (I assume this party wants your car) you would have the right to make sure the check has cleared before releaseing the vehicle to them. Remember just because your bank has credited funds to your account doesn't mean said checkhas cleared, it can take anywhere from 3-14 biz days to actually be presented and paid by the check issuers bank. If you have doubts as to if it has been cleared call your bank and they should be able to say if it has or not.

All in all being that the party that gave you the check seems like a legit business, and a diamond dealer at that, it sounds likeyou should be ok. Your are certainly correct to err on the side of caution when dealing with large amounts tho.

Hope this helped and it all works out for you. Let me know ifyouhave more questions.

 

Thanks a ton man. You're awesome.


And ok, on the check.. like it has both the bank and the business side by side as the title. literally.


Candiamond Inc. Citi Banks
(address) (address)
(new york) (new york)

I wish I had it on hand.. I'm currently at school. But I'm going to call citi banks in new york and see if the funds are avaliable. Thanks a ton for that tip!

She claimed it is a "Certified Business Check" so we'll see how it goes! Thanks so so much

 

WOW! I googled "certified Business check" and YOUR POST came up 2nd!!!

Dude... You're FAMOUS!!!

 

Your welcome.

It could be possible that they have an account large enough to warrant them have being able to print their own certified checks. If thats the case then you would be ok. The only companies that had that ability at the bank I worked for had several million in their business accounts.

Good luck.

Mike

 

Thanks.. We'll assuming they own a Diamond Company in Manhattan and this is all for real..

I'd think several million would be a realistic amount. For someone like them to have.

Thanks again... You da man! I might post some more questions later, be sure to check up! Thanks for quick responses man

 

My dad wants me to have the money wired to us.... he is still super "iffy" about ever trusting a check. But If I held on to the car until its full and cleared.. am I safe?

And is having the money wired to an account number, simple?