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Alton, Ia | Calling a bank with a regular check in your hand is worthless. All they will tell you is, yes, Mr. X has > the check value in his account. So a crook can drive away with your truck, call the bank and have them transfer the funds over to another account. Poof! 2-3 days later, when your regular check clears through, tough cookies for you. Then you get to have the fun of court, interstate liens, etc.
A cancelled check can be forged, but the funds can not be transferred away. They already were when the check was made. If you have a cashiers, and you call the bank, there is some risk of fraud, but greatly reduced. One suggestion I would make is to call information for the town the bank is in and verify the phone number before calling, don't just verify with a phone number from a forged check.
Best bet is to talk to your banker for advice. Mine has been very helpful.
OTOH, criminals are kinda dumb. I am going through court right now with a guy. He paid me three times in 08, each time with a batch of postdated checks, i.e. checks rec'd in November were dated 8/1, 9/1, 10/1, 11/1. (For rental property due 1st of each month.) He is now claiming the late fees we imposed are incorrect since we had his checks, but we had "held" them on our own. So, it's just my wife and my word against his,,,,,,,,,,,,,,, Oh yeah plus the fact his check numbers are 740, 741, 742 and 743. What an idiot. | |
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taking a check for equipment from an out of state purchaser?
