-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
I still don't understand this waiting game of 90 days. The bank KNOWs there is a police report out there, they have contacted the appropriate people, why would they not freeze the funds? At least requiring more verification on cashing/depositing this?! I understand that those are considered "legit" and like "as good as cash", but I wonder what the response would be if that money was known to be going to a large drug purchase or a hit or something else like that. I didn't realize how powerful these things were. I'm honestly surprised drug dealers and stuff don't deal with cashiers checks more often, seems like it would be easier to transport $100k via a cashier's check internationally or something compared to cash. Just have to pay off some bank in a crappy little mexican town or something and bang, you've got the money. I'm absolutely going to start dealing with only cashiers checks if I buy or sell anything... though I do remember when I bought a used car from a dealer for $10k once and used a cashiers check they STILL insisted on calling the bank to verify it was good before they would accept it...
Ya, I would be mailing all those things to a buddy in Mexico or something and having it cashed at the most questionable bank that certainly wouldn't double check IDs or would record down my details illegibly or something...
All it takes is a stop payment on a check and it won’t pay. The bank it is written on still has to be contacted by whatever party that tries to cash it, to pay the check. It’s just a check written on certified funds. It’s still just a check.
It’s not magic because it’s a “cashier’s” check. It still goes through the same steps as normal checks to pay. Banks just give you available funds faster because funds are certified by the bank that wrote the check.
If a bank cashed a bad cashiers check, they would be out the money - not the bank that wrote the check and put a stop payment on it (they would never have paid the check).
It has the same risk of having holds placed on it for suspicions of fraud or other reasons, though hold times are different. When I was a bank manager, I regularly saw fraudulent cashiers checks and retained them for various reasons. We also liberally applied holds for suspicious activity.
Cashing a check internationally has even more red tape and hoops to go through, and would not be a reasonable way to conduct shady business.
It may take up to 90 days to get it refunded. That’s from all the hoops, regulatory or otherwise, the money has to jump through before it lands back in your account.
You seem to be right on point. This whole thing is frustrating, but I am grateful for the bank to flag it, and hopefully he gets caught. At this point, I am just happy I have a chance to get my money back. If the criminal reads this....GREAT....please....go cash the check...It will be the last check he cashes this month!...maybe for the next couple years. I have given up on buying a Tesla, it's just not meant to be. Thank you everyone who is following...I will have update when I get the money back, or before when I have news on the criminal. Thank you.
Ah ok, I thought they could flag it and put a stop payment as long as there was a legit reason (police report, etc) and as long as it had not been cashed. I knew about the 90 day waiting period but I was confused with the wording on the small update post. It made it sound like if he tried cashing it before the 90 days the OP would NOT get his money back.
Makes sense, I thought there was a lot more internal protections with stuff like this.
Makes sense, I thought there was a lot more internal protections with stuff like this.
carlos31820
Member
The 90-days may have to do with the checks used by the issuing bank. Some cashiers checks do not expire but some issuing banks have text printed on the front of their cashiers checks that say something like "Void after 90 days". This wording may be used to limit liability for the issuing bank if a check is lost and found years later. If another bank were to cash that check after those 90 days, they may be the bank incurring the loss instead of the issuing bank.
I worked at several banks many many years ago as a teller. If a client flagged a cashier's check as fraud/stolen we immediately put a stop payment on that check and flag it as such. If the fraudster tries to cash the check at the issuing financial institution, the fraud prompt will come up on teller's screen immediately and we don't give the check back and we call the authorities. If the fraudster tries to cash it at another bank (i.e. non-issuing financial institution), the protocol is to verify with the issuing bank to confirm whether the check is valid or not.
It's not easy trying to defraud banks - they have so many checks and balances in place. Besides, the teller most likely will not have authorization to give out such large sums of money without calling the manager to verify and sign-off on. You should be fine with your check, don't worry about it too much.
Last edited:
I will have final news next Friday. Stay tuned.
Ok, Final update: Today (2/10/2022) I went to the bank and took back my cashier's check. Took about 20 min, and was an easy process. I then wrote new cashier's check to the seller of my new vehicle, and we went straight to the dol to register it in my name. What is my new vehicle? It's a tesla model 3 performance. The seller was patient with me through the last 2 week of waiting. As for the thief, he is still out there, and the orange county police have the information. I am happy to finally have some conclusion and a tesla in my name. Thank you for everyone following along and hope to see a few of you around. My new ride does stick out...if you see me show me a thumbs up. 
Attachments
Welcome to the world of Tesla! ... Sorry you had such a horrid start, but looks as if (after all the grief) you at least weren't too much out of pocket. If I see you driving in Kirkland I'll be sure to honkOk, Final update: Today (2/10/2022) I went to the bank and took back my cashier's check. Took about 20 min, and was an easy process. I then wrote new cashier's check to the seller of my new vehicle, and we went straight to the dol to register it in my name. What is my new vehicle? It's a tesla model 3 performance. The seller was patient with me through the last 2 week of waiting. As for the thief, he is still out there, and the orange county police have the information. I am happy to finally have some conclusion and a tesla in my name. Thank you for everyone following along and hope to see a few of you around. My new ride does stick out...if you see me show me a thumbs up.
so, out the $18K cash, and the bank took back the cashier check that was flagged?Ok, Final update: Today (2/10/2022) I went to the bank and took back my cashier's check. Took about 20 min, and was an easy process. I then wrote new cashier's check to the seller of my new vehicle, and we went straight to the dol to register it in my name. What is my new vehicle? It's a tesla model 3 performance. The seller was patient with me through the last 2 week of waiting. As for the thief, he is still out there, and the orange county police have the information. I am happy to finally have some conclusion and a tesla in my name. Thank you for everyone following along and hope to see a few of you around. My new ride does stick out...if you see me show me a thumbs up.
ProjectTrinity
Member
Yeah that’s a big hit. I learned about the Tesla app now if I ever consider buying used. And to verify my MY if I ever do sell.
Hopefully the investigation is federal so they actually have a chance to be punished.
Congrats! Love the wrap. Looks like it's also lowered a bit more, or is rocking bigger tires?Ok, Final update: Today (2/10/2022) I went to the bank and took back my cashier's check. Took about 20 min, and was an easy process. I then wrote new cashier's check to the seller of my new vehicle, and we went straight to the dol to register it in my name. What is my new vehicle? It's a tesla model 3 performance. The seller was patient with me through the last 2 week of waiting. As for the thief, he is still out there, and the orange county police have the information. I am happy to finally have some conclusion and a tesla in my name. Thank you for everyone following along and hope to see a few of you around. My new ride does stick out...if you see me show me a thumbs up.
It's lowered on Unplugged performance moderate lowering springs.
Thank you, I suppose I do. Hopefully I helped a few others from a bad experience.
