| Home > Community > Forums > Business Topics > Anyone know what a certified cheque is? |
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| Anyone know what a certified cheque is? |
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kachet says: |
Hello!
I've had someone interested in buying a few things, and mentioned a certified cheque. I'm only newish and I've not come across one of these before, any ideas how they work etc?
Ta! |
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Posted at 8:22 am, July 12 2007 EST - Report this post
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moonlitbeadery says: |
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A certified check is when a buyer goes to their bank and gets funds out of their account in the form of a check. It is almost like a money order. |
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Posted at 8:23 am, July 12 2007 EST - Report this post
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LaneesCrochet says: |
good question.
i googled it and this is what i got:
"certified cheque - a check containing certification that the person who issued the check has sufficient funds on deposit to cover payment" |
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Posted at 8:24 am, July 12 2007 EST - Report this post
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rubyshoecreations says: |
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I believe it is a check from the bank, similar to a money order. It doesnt come from their account but the bank "certifies" it is good coming from them. |
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Posted at 8:24 am, July 12 2007 EST - Report this post
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dreamlandincense says: |
A certified check is when someone walks into a bank and has the bank draw the check for them. The buyer pays a fee for this, so it's kind of like a money order. In theory, it's a guarantee that the money is there and the check is valid. In practice, it depends on if the bank that creates the check removes the funds from the account automatically. If they don't, the buyer could still overdraw and your funds wouldn't be there.
If it were me, I'd still wait for it to clear. Or possibly have your bank call and verify funds when you deposit the check. |
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Posted at 8:26 am, July 12 2007 EST - Report this post
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kachet says: |
Thank you for your help everyone, I really appreciate it!Would you accept a certified cheque if it came from another country? Just wondering how people would feel about this.
Do most people prefer buyers to use paypal? |
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Posted at 8:29 am, July 12 2007 EST - Report this post
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kachet says: |
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No, I don't mean that, do most sellers prefer buyers to use paypal?!! |
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Posted at 8:30 am, July 12 2007 EST - Report this post
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LAVENDERDRAGONHERBS says: |
I agree, I would have your bank call and verify the funds, there have been scams with those also, where the checks have been fake, just like some money orders.
I went to jail over a bogus money order and so am now very leary and only except Postal Money orders! that way you can call and verify it with your postmaster that it is legitimate.
I would do the same in your case also, better be safe than in trouble! |
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Posted at 8:31 am, July 12 2007 EST - Report this post
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moonlitbeadery says: |
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Most do yes. If the certified check is coming from a different country, I don't know if that is how I would like to be paid. They don't have to have a Paypal account to pay via Paypal. You might want to mention this to them. |
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Posted at 8:32 am, July 12 2007 EST - Report this post
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kachet says: |
Ok, thats good to know about the paypal thing, thanks for that.
I'll think I'll call up the bank if I get one, thank you for the advice, much appreciated.
Have I just posted this all in the wrong section? |
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Posted at 8:36 am, July 12 2007 EST - Report this post
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