NSF CHECKS

In article , Cliff
writes:

(Auroracoin) wrote:

We have recently received checks from Robert Bruce & Genevieve Becker
of Los Angeles, Ca...that are NSF....please watch out for check from these
two persons.....thanks, Wayne Freese Aurora Coin

Sounds like it's time to either wait for the checks to clear or only
take money orders or paypal. Seems like you've had more than your
share of bad checks.
Cliff

10 days on all checks minimum. Even some money orders are suspect...and I
check ALL cashier's checks that are over over a couple hundred $$$. Too many
forgeries out there anymore.

Paypal's not safe, due to their chargeback policy...it's one of the reasons I
won't accept paypal's over $100. Can't take the risk and it's too expensive to
send those mid-priced items with sig del, etc anyway.

Appreciate the bad check warnings however...maybe we should do more of
that...although I get very few, none in over a year now. (fingers X)

dondi3
DONDI enterprises. BUY, SELL, TRADE. RARE COINS & PRECIOUS METALS
Member COINNET, CSNS, ANA, INA, MOON, ILNA.

Thanks for the post!!


Michael Jacobs


"Auroracoin" wrote in message
...
We have recently received checks from Robert Bruce & Genevieve Becker
of Los Angeles, Ca...that are NSF....please watch out for check from these
two persons.....thanks, Wayne Freese Aurora Coin

Auroracoin wrote:

We have recently received checks from...

Wayne; you need to be careful about making announcements like this. I
remember in my business 101 class some twenty years ago that people used
to get sued for posting this information in an open forum.

The case in question involved a store publicly posting the name of
a person who passed bad checks in their establishment and in frustration
and in an attempt to embarrass the thief (yes, it was even established
that the suspect was DELIBERATELY passing bad checks) the owner posted
this person's name and address in every check out lane, right were the
cash register price readout was located, guaranteeing that everyone
who shopped at this store would see this "neighbor's" dishonest
intentions and I suppose, shun him. The practice back-fired as the
bad check passer filed suit and won on 4th amendment grounds sighting
right to privacy.

This case was later extended to include another incident where the bad
check information was in plain sight though not prominently displayed
behind the counter. The forger in that case also sued and won on 4th
amendment grounds.

Just a word to the wise, if one of those LA losers or their friends sees
your post, you could be in for some additional unpleasantness. This
board is not a dealers network and as such is public domain. As such,
it is protected by the law of the land.

If you want to pass around bad check writer's names ask for a list of
people (businessman/ladieson this NG that want to be alerted when you
receive a check that is uncollectable. What you are doing is commendable
but I dire say it will get you into trouble. Like I like to say; "No
good deed ever goes unpunished".

From: (DONDI3)

10 days on all checks minimum. Even some money orders are suspect...

It's been at least 3 years since I looked, but at one time the rules were such
that you would know in 5 days if a check was good. For example, you deposit a
check on Monday; the timeline would go something like this:

Monday: deposit

Your bank has 24 hours to get the paper check to the Federal Reserve Bank
branch with which it deals.

Tuesday: Fed gets check

The Fed then has 24 hours to tell your bank whether or not the paper is a valid
financial instrument, or not. They then either send it back, or forward it on
the the originating bank.

Weds: Check in Transit

Thurs: Check arrives at Originating Bank.

The bank from which the check originated now has 24 hours to tell your bank if
there is money in the account, or not.

Friday: your bank gets either a "cleared" or "NSF" notice.

I do not recall what the rules were regarding timing of sending notification
once they knew the check was NSF'd.

It also used to be that if either bank screwed-up on the timing, that they
*could* be held liable, and have to eat the cost of the check if it ended-up
being NSF'd. I don't know if this is still the case, or not.

However, I do have reason to look into it. I deposited a check in my account
on 6/9. On 6/11 it gets NSF'd. My bank puts it through again and on 6/20 it
NSF'd again. I get notice and the check back to me in the mail on 7/2.

Yes, deposited on 6/9 and notice of NSF on 7/2.

The buyer did make good on the check with a post office money order (plus the
$7 fee my bank hits me for the priveledge of handling the bogus paper), so I'm
not still trying to recover money.

I've not had time yet this week to get to my bank and ask about the timing on
this (I've only been home tonight for about a half hour as I write this).
Maybe tomorrow.

--
mark

No money..no car.


Awwww, too bad. Couldn't have happened to a nicer family.

"Larry Louks" sez....

Just wondering what prompted you to make fun of such a loss? I see no humor
in being defrauded in the selling of the car, though I recognize that we are
all different in various ways...

Join me in welcoming yet another summer troll to RCC. Most of you here have
already chatted at considerable length with our new friend, so don't be afraid
to make yourselves known.

Always here for my fellow syngraphist or oenophile.
--=*=----=*=----=*=----=*=----=*=----=*=----=*=----=*=----=*=----=*=--

Jim:

Join me in welcoming yet another summer troll to RCC.

I'm not sure if I am the one being designated as the "summer troll" or if
I'm the one being welcomed. If the former, sorry, but such is not my purpose
in posting. If the latter, thank you!

-=LDL=-

In article ,
ustion (mark) writes:

It's been at least 3 years since I looked, but at one time the rules were
such
that you would know in 5 days if a check was good.

I've never had notice within 5 days and I've frequently gone 9 days before
hearing about NSF checks. Don't seem to get them as much as I used to. Can't
explain that. I do know that I don't have time to play tag with every check
that might be NSF, so I just sit on it 10 days and ship on the 11th. With at
least 4 other viable payment options, I leave it to the buyer to decide. Some
will occasionally write after a 3-4 days that the check has cleared...I just
point them to the 10 day policy and rarely have any objection.

I was pleased to learn a couple of years ago that my bank CALLS me when they're
notified that anything over $2000 bounces. Nevada dealer bounced a $4600 check
on me and I knew about it in 4 days. He's a COINNET member so I had a pretty
good hammer to get paid...had a cashier's check in my hand in 48 hours.

Dondi3
DONDI enterprises. BUY, SELL, TRADE. RARE COINS & PRECIOUS METALS
Member COINNET, CSNS, ANA, INA, MOON, ILNA.

"Tom Shelly, Legendary White God" wrote

Three days later the bank withdrew the money from his account saying
the check was forged.

No money..no car.

Tom Shelly, White God

Cool!

--
John

Visit the RCCers favorite coins web page
http://mywebpages.comcast.net/jcarne...ns/rccers.html

Tom Shelly, Legendary White God wrote:
: Cashier's checks can be counterfited or forged too and charged back
: even after accepted by the bank..
:
: Happened to my brother. He sold his car to a couple ******s who paid
: him with a cashier's check from the bank. He went to the bank with
: them to cash it and the bank said it was OK and he put the money in
: the bank and the ******s drove off with his car.
:
: Three days later the bank withdrew the money from his account saying
: the check was forged.

The story sounds concocted, if they went to where
the check was purchased then the seller should have had
the buyers cash their check and hand him the money.

And part of the transaction should be the notary
seeing the funds change hands, and there must be sales
tax papers to fill out and the title to sign.

The story seems to infer that the check was
purchased at the same bank the seller has an account at,
which makes the story less than believable.
An attorney should have no trouble getting
the car back, or the money made good by the bank,
surely a driver license was checked, or some other
intelligent effort made to know who the buyer is,
and where he lives.

I don't even give the buyer possession of the
car until he applies for title and gets license
plate registration, too many people buy cars and
never change the registration causing possible
liability problems.

Joe Fischer

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