doublegunshop.com - home Forums General Discussion DoubleGun BBS @ doublegunshop.com Accepting Cashiers Check, MO for High Grade Guns

EVERYthing is easily forged these days. ask a PO clerk how many counterfeit US postal money orders they see come thru regularly. the only safe bet? take any form of payment and hold it till it clears. as noted banks and even different clerks in banks will give you different lengths of time from over night to 10 days. now that the 5 clearning house banks are all electronically linked 2-3 days is plenty of time. 10 days is what it used be when everything was snailmailed around.

most expensive one i've taken was $1200 in postal money orders and i asked the PO to verify that they were legit. they can look up the # and tell it's one of theirs. cheaper stuff i alwas put in ads that payment will be held as bank recommends to clear. then if everything looks OK i go ahead and ship anyway. i figure anybody with good feedback ain't gonna risk it over a bad $25 check and no one but a complete idiot would send bad payment knowing up front it would be held till it had time to bounce.

but again - that's cheap stuff. wait till it clears and assume NO FORM OF PAYMENT is beyond faking.

i had an ebay guy chew me out royally once over a money order from some gas station in washington state because i was going to wait for it to clear. tough. read the ad.

roger

The question was “Accepting Cashiers Check, MO for High Grade Guns”. I’m sure we all have our idea of what a “High Grade Gun” is and cost. Lets suppose that it’s not a London SLE and say it a 10K gun, I wonder how many Post Offices you would have to go to for that kind of money ;-).

14.2.2 Purchase Restrictions
A postal customer may buy multiple money orders at the same time, in the same or differing amounts, subject to these restrictions:
a. The maximum amount of any single money order is $1,000.
b. Any customer whose daily total of purchased money orders is $3,000 or more, regardless of the number of visits made by the customer to one or more postal facilities, must complete Form 8105-A, Funds Transaction Report (FTR), and show identification bearing the purchaser's photograph, name, and address.
14.3 Cashing Money Orders
14.3.2 Redemption
All U.S. money orders, including military, may be cashed at any U.S. Post Office or bank. Subject to funds availability, money orders may be cashed by rural carriers. Any customer whose daily total of cashed money orders exceeds $10,000.00, irrespective of the number of Post Offices visited to cash the money orders, must also complete Form 8105-A, Funds Transaction Report (FTR), and show identification bearing the customer's photograph, name, and address.

This is a tough one this day and age. Everything can be counterfeited so easily. I've spoken with some of the dealers I know personally and they say that anymore you might as well just take a personal check and wait to ship the gun until after it clears. At least on a personal check you have a persons phone number, address, and bank account information. The few cashier checks I've taken haven't had this information on them and when I asked my bank to check on the funds they said they had no way of doing so and I would have to deposit it and see if it clears.
Money orders are almost worthless I know of several people that have burned by phony Mo's for stuff they sold on EBay.

The Caveat about "buyer be ware" also applies to "seller be ware"

I did ask for a Postal MO but because buyer did not want to give his SS to the Post office he sent a Bank cashiers.

When a cashier check clears is there a possibility that the cashier was a forgery and who holds the obligation even though your bank represented the check was clear and of course the London SLE was been sent

Thanks

Reggie

i know what the original question was. i was just citing an examplie pointing out that one of the things considered most secure is being faked regularly. and the $1200 i mentioned did have to come in 2 money orders because of the limit. i wasn't trying to advise insisting on postal money orders.

i've never had the PO ask for my SSN to sell me a money order so that sounds weird. for any amount much over $1k a postal money order isn't really an option.

if it's a fake, when it gets back to the supposed issuing institution they of course won't honor it and it'll come all the way back thru to you. if your bank has for whatever reason allowed access to those funds they're gonna want them back and you know where they'll go to get them. if you've already shipped the gun you've got nothing. that's why you wait.

If a person pays with a bad check and fills out a 4473 he has just commited a federal crime.The BATF wiil be happy to take care of the old chap and you will get your gun back in due time.
You can only be the lawfull purchaser of the gun if you realy pay for it.

All you have to do is wait for the bank to say the check has cleared. Anytime I mail a check, I use a US postal money order. That way there is no question about it's authenticity when it gets to the seller. This saves him a lot of trouble and gets your purchase to you faster.

What makes no sense to me is that my bank has to wait days for a check to clear but the local bar has a scanner that not only clears them but snatches the funds imideatly. With USPO money orders, even if the amount is larger than the PO is going to have on hand they can scan them for you and tell you if they are good or not.

Simple solution. If the price is high enough to make it worthwhile and the buyer is in a rush.

You can ask the buyer to have his bank to do a wire transfer of the funds. You give the buyer the banking information (your bank will tell you what is necessary). It doesn't cost the buyer that much and your bank will credit the payment the same day.

Bob

Yes, I wire funds routinely for $20.00.
I would consider it cheap insurance for anything worth more than $1,000.00 (2%)

But for general commercial transactions, just ask the bank how long to clear it. And then wait.
I doubt there is much fraud going on, as most of you know each other, and have for years. Everyone is shopping in the same places, and trying to make the same deals with the widows.