Tag: alerts

Cashier’s Checks as Good as Cash? Watch out for cashier’s checks – treat them as a regular check and NOT instant access to cash. Make sure to wait 7-10 days for it to officially clear and call your back for verification of funds being truly cleared. Many scammers are using official looking “cashier’s checks” to pay for cars, or for products (and many write the check in an amount over the purchase amount, asking then for an immediate refund in the excess amount). The responsibility is usually on the consumer side, and not on the bank’s side. You’ll be liable for the deficiency in funds. Do not refund anything or spend any of the money in a cashier’s check until at least 7 days of deposit – and verify the funds before spending any of it.