Can a bank Check be BAD if????

[hammersley]

If you go to a bank/credit union etc with someone and they have a bank draft made out to you - isn't that the same as CASH. - for example once you leave - they can't STOP Payment

 

[daveshoe]

Ask your local banker. I think I remember hearing they can from my collection attorney. This would be more likely if they bought something from you that they wanted to return for full credit. Thery stop payment ,forcing you to take back the unwanted item.

Do not take my word on this-- check with the issuing bank or ask an attorney.

 

[klenger]

As I understand it, a cashiers check is almost as good as cash. The funds are certified, meaning that the person drawing the check can't use the funds for anything else once the check is drawn. I think that they can be stopped, but I think the bank would require extenuating circumstances to do it, like fraud or something. A cashiers check is drawn against the bank's funds, not the customer's funds.

 

[smartineau]

You need to be careful with any Cashiers Checks or whatever type of funds. The news here about 6-months ago had a story on fraudulent cashiers checks made on home computers, that were used to buy cars and such.



Go to the bank with them and get the money/cashiers check handed directly to you.



steve

 

[DMcClellan]

Heck, even "Federal Reserve Notes" can be bad!