posted on October 15, 2000 06:47:07 PM new
Tom's stooooopid question for the day! Some may remember that auction I had last week where I bought a video on eBay for $5.50, 3 weeks ago and sold it the next week for $201.00! Yikes, I had to get new Depends when the auction ended!
Well, I never thought he'd pay -- but HE DID! With a personal check! (YUCK!)
I've been shipping upon receipt of checks because most are for $15 - $30 & if they bounced, I could handle it. But if this puppy bounces, I'm up the proverbial creek!
My TOS does state that checks are held until cleared -- but I say that mainly to discourage checks! But now I'm holding this one! MY QUESTION: is there any way for me to tell when this check clears? Is it kosher to call his bank? I've never had a check this large before! Any help from you folks is greatly appreciated!
Tom
Tomorrow, go to your bank IN PERSON and spek with arepresentative who can tell you specifically YOUR OWN BANK's process for determining that a deposited check into your account has TRULY TRULY TRULY cleared, and that there is ABSOLUTELY NO CHANCE of learning 8 weeks later that the check has been returned NSF.
Then please come on back tomorrow night, and tell us all what YOUR specific bank uses for their own specific procedure.
They should be able to give you a specific phone number to use in the future for similar situations.
posted on October 15, 2000 07:22:16 PM new
Tom,
My bank prints a toll free number on its checks. Perhaps many of the checks that you receive also have a toll free number. You can use it to verify whether the required funds are in that account.
Glasshat: From the many many messagethreads and other board posts that I have read about this issue, I would NOT rely on any info from the 800-#s ---it is all very intricate, and people have reported learning TEN WEEKS later that the check was finally declared NSF.
I think that Tom should speak to his personal banker, and find out what they advise.
I read some where at some time, that there was a way to endorse your checks so that you'd IMMEDIATELY learn if it was NSF, but I do not recall the details.
posted on October 15, 2000 08:40:10 PM new
In all seriousness (sorry I had to do a funny at your expense...no hard feelings¿) I would agree with radh.
I always check with my bank one of the reputable advisors, before doing anything that I am not sure of.
Sometimes the advise you get here or most other boards you need to take it with a grain of salt when it comes to professional advise such as this situation and tax reporting and so on.
