Do you accept a bank cheque?

[xxx000]

Originally Posted by trublu

Big difference between a bank cheque & normal cheque is a bank cheque is issued by bank teller who knows you have sufficient funds in your account to cover the cheque otherwise bank won't give you one, any person can write a normal chegue whether they have money or not in account.

I know of banks that have cancelled their own bank cheques as they were issued incorrectly, person did not have cleared funds in their account

In this day and age cleared transfers of money or cash handed over are the only way to ensure you actually receive $ in exchange for your car.

There's nothing to stop someone getting a bank cheque to pay for your car then reporting it lost and getting funds re credited to them. They still have the cheque and could hand it over to you for your car, a worthless piece of paper

[mike_nofx]

Originally Posted by xxx000

There's nothing to stop someone getting a bank cheque to pay for your car then reporting it lost and getting funds re credited to them. They still have the cheque and could hand it over to you for your car, a worthless piece of paper

Nothing stopping them, other than the risk of being charged for theft or fraud?

In that scenario, with a legit but cancelled bank cheque you still have all of their personal details which surely would hold weight in court.

I'd say the biggest worry is a fraudulent cheque printed with all false details.

[Mercury Bullet]

Originally Posted by fordomatic

I used to be the same until i got paid $32,000 in cash for a car i sold. The bank then put an investigation against me and the buyer also got investigated. Can't be bothered going through that again, never had issues with bank cheques.

As soon as you move $10,000 or more the AFP are monitoring it. Doesn't need to be cash just a transfer to another acct of yours will trigger it.
Furthermore if you move say $9500 one day and $8900 a few days later that will also trigger their system.

Nothing really to worry about if you're going about business. It's in place primarily for money laundering.
Just be aware that all this info gets passed onto Centrelink, tax dept etc.

[Bluepower]

Originally Posted by mike_nofx

But Coles take personal cheques.

I've seen old folks write them out at the register.

No they don't. Argued your point for you at Coles yesterday buying our lunch gear.

[Crazy Dazz]

Originally Posted by xxx000

There's nothing to stop someone getting a bank cheque to pay for your car then reporting it lost and getting funds re credited to them. They still have the cheque and could hand it over to you for your car, a worthless piece of paper

Yeah, yeah there is.
They'd have to wait to get their funds back.
So yes, I suppose if somebody says they won't have the money for a week, then eventually gives you a bank cheque issued a week previously you should be a bit sus.

But you're also kinda missing one giant point.

If I want to steal your car, there's really "nothing" to stop me simply doing just that. Other than the law.
Instead of going through all that palava with the bank, I could simply use a gun, or nick your keys, etc, etc. By involving a bank, I'd actually be making things more difficult for myself.

Its a little different if I write you a personal cheque and you hand over the car willingly. Taken literally, a cheque is a promise to pay. To establish fraud and theft would technically require proof that I never had the means or intention of paying, and you could get stuck having to chase for me a civil debt.
Using a fake or fraudulently obtained bank cheque is clear evidence of fraud.

[mike_nofx]

Originally Posted by Bluepower

No they don't. Argued your point for you at Coles yesterday buying our lunch gear.

Actually Coles do. Maybe your register operator didn't know of this.

https://www.coles.com.au/customer-se...lping-you-shop