|
General Asylum General audio topics that don't fit into specific categories. |
|
|
|
General Asylum General audio topics that don't fit into specific categories. |
|
In Reply to: Re: Advice re: Auction Transaction/Payment Issues posted by motorbruce on July 26, 2005 at 07:22:00:
. . you can have the check in your hand, even a certified check, phone the bank to verify funds, etc., etc., doesn't mean you're going to get paid.The bottom line is that unless there are sufficient funds in the account, WHEN the paper shows up at the issuing Canadian bank from your bank, and IF THERE ISN'T a stop payment or hold on the check, will the funds actually be transferred to your US bank.
And it can take up to 6 weeks (or longer) to actually clear. And even if your bank declares it has cleared it may not have truly cleared - it depends on your bank's policy regarding such declarations.
A certified check just means that the bank has verified that sufficient funds were in the account WHEN the check was issued.
To verify what I've stated, just contact a Canadian bank with clear questions on this subject and be very certain the person you've contacted knows the bank policy.
Paypal and postal money order are your best insurance as a seller. As a seller just be sure to follow the institution's policy regarding delivery of goods.
This post is made possible by the generous support of people like you and our sponsors:
Follow Ups
- A warning re: checks from Canadian banks . . . - Frank E 07/26/0511:04:33 07/26/05 (0)
Top of Page ]
[ Contact Us ]
[ Support/Wish List ]
[ Copyright © 2024, Audio Asylum, all rights reserved ]
