interesting issue with the cashiers check i received for partial payment on my P-car.

all, i posted this in the OT forum but thought it a good idea for everyone to know this issue. i sold my 996 2 weeks ago after several responses on pelican. buyer came up from california but because we had 8" of snow, was not able to drive the car. he gave me a sizeable non-refunable deposit and flew back up last night to test drive today. whats ironic is today it is 60 degrees and sunny skies! test drive went A+ and we came back to my house to do business. he gave me a cashiers check from his credit union and the car went back in my garage for shipper pickup next week. buyer left and i leave the house and stroll down to my bank which is only minutes from our home and my teller tells me that the check cannot be honored. w-w-w-wwhat? the teller pointed out that in order for any cashiers check to be issued by a credit union or bank that is over $10K, 2 signatures are required by the bank staff...this check only had 1 bank signature. soooo i phoned the buyer, he came to my house immediately and we agreed that he would wire the money into my account monday when he gets home. just wanted to mention this because the outcome could have been upsetting if the buyer wasn't an honest guy and the car left my possession ...it was an honest mistake on the buyers part but a foolish overlooked error on his credit unions part.

But, but...you sold your 996! A sad day. Seriously, congrats on the sale and thanks for the heads up. Another reason not to upgrade.

I paid for my 986 S with a bank check for 15.5k and it did not require 2 signatures that I know of

I used three money order $2500 that could be verfied over the phone and carried the rest in cash. Instead of carrying 12k to an unknown adress and seller in detroit. Turned out to be nice people but still..

yeah i understand if you carry more than $10K in cash thru the airport it can be a hassle thru security...anyone know the rules?

I've had friends come home from Vegas with large amounts of cash and no problems with TSA. Just don't tell them. International is when you need to declare funds. I actually had trouble with a credit union in Seattle trying to sell my old S2000. Because I originally titled it in MI, they couldn't find an electronic copy of the title (even though I had the physical copy). They refused to believe that I actually owned the car! The buyer ended up falling through at the last minute (in the credit union) - but it was a learning experience. Now I prefer wiring money - much more convient. Too bad for the fee banks charge. Good luck with that SC. Beautiful car.

NEVER GIVE UP POSSESSION OF ANYTHING UNTIL U HAVE YOUR FUNDS IN HAND! I have had problems with checks 100% of the time, I ask for cash. Banks don't like to cash big checks and I will tell you why. Suppose person "X" works for a construction company in the office (or gets paid by check from someone). All that person needs to do is look at the check's routing number and account number on the front of the check, and take note of the name and address on it and they have all the info that they need. Next, they go to some website (i.e. checks.com, etc etc) and they order some blank checks and have all of the proper info on it. A few days later, and voila, the checks are in their possession and now they can go an start committing fraud. You naturally do not want to give up your car without the check clearing, but these checks will clear. The only problem is that once the bank starts to send out their monthly bank statements, somebody is going to notice money missing out of their account and immediately contact the bank. The funds will immediately become frozen by your bank and then you will have to hire a lawyer to explain to a judge what happened. So not only are you out your money and your car, but you are also out of the money that you paid the lawyer, the time in court, and reputation lost. If you simply have to get paid by check, one good method of covering your posterior is to call the bank that the check is drawn upon, and tell them the following: "I think I was just given a stolen check, could you verify for me if this check is legitimate?" You need to ask this because if you don't say this, the banks will not even respond to you (because they cannot tell you anything about anyone else's account). But, if you are saying that the check might be stolen, then not only will they research the validity of the check for you, but you will also be able to find out if the check can clear without having to deposit it. Great method, but I just ask for cash.

When I bought my 996, I went with the seller to my bank and did an electronic funds transfer into his account. The bank provided him with verification of the transfer, and all was good!

since this post is worthless w/o photos here is the check...the signature is computer generated...my teller told me my creit union has the same 2 signature policy with checks over $10K. they have a computer detection system that warns them if 2 signatures are not present BEFORE they print the check:

Not that it is the same issue, but when i bought my 996 I had a cashiers check from my credit union. I actually went to the seller's bank with the seller to make sure they accepted it - they did. Two weeks later by credit union rejected it because i did not sign it in all 3 places. So he had to send it back to me and I signed the other spots on it was the only way it would go through. Never understood why you would need to sign the same piece of paper 3 times - sounds like a good lean six sigma event. My credit union mentioned it happens all the time....

Screw checks, nothing beats a suitcase full of cash. Preferably small bills, so that the stack looks larger.

i love cash...wonder what the odds are of getting some counterfeit bills amongst say $20K? thats 200 $100 bills we'll all have to start carrying those purple counterfeit id pens.

Quotes source post: 9248178

Interesting, Being from Nigeria, like most I had no idea how the mechanics of this scam worked. Wondering would you happen to know chemical formula for crystal meth

I do ALL of my transactions in cash (cars, homes, drugs, murder-for-hire..........)

If there is so much trouble with large dollar amount checks why do banks issue them? It seems they're worthless. I need to know because I plan on paying most of the 996 I buy with a cashiers check. I just had a check issued from a bank in West Virginia to me for the amount of $28K from a CD I cashed in. I deposited it in my bank with no problem. What gives? Groove, We're on opposite ends right now. I just sold my 83SC yesterday (cashiers check, yikes!) and, hopefully, I'm picking up a C4S wednesday, pending PPI. You'll love your SC. Pelican has a great support forum with the 911 Technical Forum.

It's so easy to do wire xfers these days, I wouldn't mess with a cashier's check if I didn't have to.

If you need a second signature I have one here