Bank certified check?

Question

Im selling my car, which im leary about this so i need some input, i live in MI, a guy from oregon wants to send me a Bank certified check for the car, what exactly is a bank certified check?

Answer 1

Doesn't it seem suspicious that a guy from Oregon is buying a car in MI? Is it a special car? If not, be very suspicious and cautious about that check.

Answer 2

A Certified Bank Check means that person purchasing the check had to purchase it with CASH. The check is good HOWEVER, just as in the case of Money Orders, the purchasee can still place a Stop Payment on the Certified Bank Check. Of course they would have to give a valid reason to place a stop payment (they could always lie about that too). Also, with the computers and printers they are making now, anyone can make their very own "bank certified" check. If you do accept the check YOU MUST DO THIS: If anyone pays you with a check (certified or not) you have the right to call that bank and VERIFY FUNDS! It shouldn't cost you anything and all you need to do is call and speak with the head teller. Tell them you want to verify 1) that there are sufficient funds to cover the check 2) there aren't any stop payments for the Check number that you have. Also, if the funds are available and there are no stop payments then cash it ASAP!!! It might even go bad from the time you call to verify to the time it takes you to get to the bank. I would deal ONLY in U.S. Cash if I were selling something for that much money. Especially in this day and age.

Answer 3

What Is A Certified Check

Answer 4

I have seen people bounce these checks! It means, that the bank certifies (verifies) that, at the time, there is money in that account. It does not mean there will be money in there at the time you cash the check. While I'm not saying it will bounce, I'm saying it can bounce. A cashiers check would be best, as that is drawn on the bank itself.

(this happened a few times when I worked at a title company. Imagine bouncing a check while buying a house!)

Answer 5

it certifies that meet money is in the account. But be very care full there is a lot of scams out there i would take cash only or if it is a local bank take the check and cash it before u do anything to make shure the money is there.

Answer 6

i'm gonna say it's a counterfeit check...

When selling, you should meet in-person to see the item and exchange money.

DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON

FAKE CASHIER CHECKS & MONEY ORDERS ARE COMMON, and BANKS WILL CASH THEM AND THEN HOLD YOU RESPONSIBLE when the fake is discovered weeks later.

Answer 7

the bank signs the check before he gives it out to assure he has the money in his account.

Answer 8

Great point, I'd like to know more as well