can cashiers checks be fake? and what if the bank accepts it?

Question

so I have recieved a cashiers check, I went to the bank and deposited it, and was able to use my debit card and such for 3 days, then they put a hold on it, I am afraid it not be real, so of course I am freaking out, but it had the watermarks on the back etc.. so I am wondering what happens if it is not real, and the money I spent, and am not able to pay the full amount back, what will the bank do? I hope someone can help with an answer, and why would the bank wait 3 full days? I thought cashiers checks go through right away, good as cash right?
confused..

Answer 1

A cashier's check is as good as cash in that you must have cash to purchase the cashier's check with. But no check truly clears immediately like cash, the checks are physically put through the Federal Reserve system. Some towns have a local clearing house too, wherein couriers meet each night M-F and swap the checks from the local banks in the clearing house, and only the non-local checks go through the fed.

Like any check, a cashier's check can be faked by criminals who are smart enough. It's actually rather easy with today's technology. Also like any other check, a stop payment can be put on a cashier's check - the person who gave you the check could have gone into the bank he got it from and told them he lost it, and put a stop on it. If that's the case, you'll know very soon.

If the check is fake or a stop payment was issued, you will owe your bank back the money that you already took out. There is no getting around it. It is not their fault that someone jacked you. At that point, it is no different than if you took out a loan from your bank, you have to pay it back. If it's more than just a little, they may be willing to work with you about paying it off.

If the check is fake, you need to press criminal charges on the person who owes you the money. If a stop payment was issued, no criminal action can be taken, as a person always has the right to stop payment on a check for whatever reason. If that is the case, you are left suing them on a civil basis, no criminal act occurred.

Answer 2

Counterfit cashiers checks are one of the most common scams right now. Banks have up to 3 days to examine and put a hold on a check if the choose. Maybe after examination they felt the check may not be any good. Was this an unsolicited check? That is the most common scam, but it could have been for something you sold to someone you don't know.

Cashiers checks are not guaranteed funds they can be stopped by the purchaser, they can be counterfite or forged, so the same caution exercised with personal checks should be exersised with cashiers checks.

If the check turns out to be counterfite, forged, or generally no good, the bank will remove the funds from your account and charge you a returned check fee. If this overdraws you there is really not anything the bank can do but work with you on a repayment plan.

Answer 3

This can absolutely be fake. If you get the emails telling you how to become an agent for a foreign company and keep 10% of the fees, you will find out that the checks (business) as well as cashiers are fake. I was contacted by one of these groups that I thought was legitimate. They sent me three checks, one of which was a cashiers check which I deposited. I refused to send them the money until all the checks cleared by account. All three of them came back as account closed, bank unknown - the cashiers check, or insufficient funds. The bank probably put a hold on your account as soon as the cashiers check came back.

Answer 4

Can Cashiers Checks Be Fake

Answer 5

I fell for a scam-Secret Shoppers scam. I answered an ad in the employment section of our newspaper. It was asking for customer service reps. and there was a long distance number to call. The lady said she would send an application to my address. It came 3 days later w/ a $2775.00 cashiers check. The letter and cashiers check looked legit. I was instructed to call a phone # on the letter right away. I did, and it was a man saying he was with Secret Shoppers and my first job, which was also my training, was to go to Wal-Mart and do a MoneyGram to a made up relative of mine in Hamilton, Ontario Canada. I was to send $2420 to that person,pay the $55 processing fee and keep the remaining $300.00 for my pay. Long story short, my son found on the internet that this is a big scam, cashiers check is a fake, and my bank says I owe them $2775. My bank did not put a hold on it to verify funds. In fact I cashed it at the drive-thru and the only question the teller asked, was if I wanted large bills. I found out that my banks policy is to verify funds and bank before cashing, which this teller did not. I am going to a lawyer next Tuesday.

Answer 6

No check is the same as cash. And cashiers checks can be forged or stolen. However, banks will credit accounts for checks (even good checks) in increments. Say you get a check for $2,000. Many banks will credit you $100 immediately; another $500 within 3 days; and the balance with 10 working days. Could that be what happened in your case? You need to speak to your banker.

Answer 7

Yes, cashiers check fraud is common. Money can be charged back weeks later from the day you deposit it. Check with your bank to find out if it were fraudelent the latest date they would charge it back from your account.

Tip - if you get a cashiers check drawn on a bank or financial institution close to you, you can take it there and cash it even if you are a non -customer.

Answer 8

cashiers checks can be fake, and the bank will hold you responsable for paying them back

Answer 9

commerce back worker told me it is possible for them to be fake

Answer 10

confusing stuff. search onto a search engine. just that may help!