Is a Bankers Draft work this way?

Question

A guy buys something from me, he tells me that a Bankers Draft of £7500 will be forwards to me via his Bussines Accosociate, once I get the Bankers Draft and get it deposited into my bank account, if it clears my bank, I can deduct the cost of how much he consumes form my online shop.

Does it work in this way? Cuz I am not sure whether there is a way of 'Deduct' during the procedure. I have ever pay by Bankers Draft, but not recieve any payment by Bankers Draft.

Can any expert give me a advise, please?

Many thanks.

Answer 1

WARNING -- Advanced Fee Fraud works this way ..
=======================================

Scammer orders some goods (eg. £1,000) from you

He then sends you a Cheque / Draft whatever "from his Business Associate" for a LOT MORE than the goods ordered (for example, for £5,000)

You then send him the goods PLUS the 'Balance' in cash (in this case £4,000) via Western Union (or some other non-reversable method).

SO - you have sent £1,000 of goods PLUS £4,000 in cash ..

6 weeks later the Cheque / Draft is found to be FAKE, and your Bank TAKES THE MONEY BACK !!

End result = you are out of pocket by £1,000 in goods and £4,000 in cash ....

It is NOT good enough to 'wait for it to be cleared' .. the Cheque / Draft has to be PHYSICALLY RETURNED to the issuing Bank before it can be verified .. if Bank of Nigeria is involved (often the case) then it can take MONTHS before the issuing Bank verifies it ..

Some scammers have friends working in the Nigerian Bank (or will bribe a Bank official) that will report as 'Fake' months later on Drafts that are actually COMPLETELY REAL.

Answer 2

It sounds like this customer is trying to simply pay upfront via a different method, which isn't unheard of, and shouldn't cause complications, providing he is ordering specific goods and paying the specific price of those goods so that it all tallys up.

Bankers Drafts used to be considered 'cleared funds', but in more recent times they have been used fraudulently, and so you should treat them with the same caution you would a cheque.

Make sure that the payment has cleared into your bank before supplying goods based on this payment. A word of warning - the money can show in your account before it has fully cleared, so always specifically check with your bank that it has cleared, particularly as this is an unknown person and large amount.

Answer 3

A bankers draft is simply a cheque issued by a bank rather than by a person.

Although the bank is unlikely to be short of funds payment can be stopped so you must allow at least 6 banking days after you pay it in to be sure you have the money.

Then it seems you are being offered advance payment for goods to be purchased.

You must get your till receipts signed and keep them so they can't argue later on that they haven't had the goods.

You will need to put a note in your till so you can keep your books straight

Answer 4

A banker's draft is a cheque issued by a bank for large sums of money and is 100% guaranteed so it won't bounce as long as it is drawn on a British bank.

You should wait until the draft has cleared before you disptach any goods to your client.

Essentially, he is paying you an amount on account in advance. As he orders items from your shop, you deduct what he has purchased from the total amount he sent you. When this runs out, stop sending goods and ask him to send you more money.

Answer 5

This is a con.
DO NOT SEND HIM ANY MONEY UNTIL AT LEAST 28 DAYS HAVE PASSED SINCE THE DRAFT WAS BANKED. BETTER STILL GET A SPECIAL CLEARANCE AND A CERTIFICATE IN RESPECT OF THE DRAFT BEFORE YOU SEND HIM ANY MONEY.