Bank Cheques
 

Hey guys
Tried searching on the forum and google.
I'm currently selling my car, and was wondering how safe are Bank Cheques?
I've only purchased and sold cars with cash.
I've read that they can be cancelled over the phone and are not as safe as personal cheques... Not sure what to believe
Any opinion is welcome
Cheers
Hai

Bank cheques are more safe than personal/business cheques, you got them the wrong way around! Bank cheques cannot be cancelled (they can be reported lost or stolen but not cancelled!) however if you show a bank that you have the bank cheque and it has you name on it and you provide photo ID they have to give you the money! Bank cheques require the money to be handed over on the spot so they cannot be dodgey (unless you physically can see someone is trying to copy it, check for watermarks!). Hopefully someone can maybe explain it better than me :D

I prefer bank cheque over other cheques and even cash! Then i don't feel like im going to get mugged!

fair enough
but yeah, from a few forums I have read said that they report it lost/stolen... then the cheque is cancelled or somthing along that line.
But I am planning to meet the buyer at my bank institute to deposit it in before i hand over the keys. So hopefully they can tell me on the spot if its fake or not.
To many dodgey fcks out there these days

bank cheques can be faked too

so other from being fake they are safe?

[QUOTE=RXqME;523323]Bank cheques are more safe than personal/business cheques, you got them the wrong way around! Bank cheques cannot be cancelled (they can be reported lost or stolen but not cancelled!) however if you show a bank that you have the bank cheque and it has you name on it and you provide photo ID they have to give you the money! [COLOR=Red][SIZE=4]Bank cheques require the money to be handed over on the spot[/SIZE] [/COLOR]so they cannot be dodgey (unless you physically can see someone is trying to copy it, check for watermarks!). Hopefully someone can maybe explain it better than me :D

I prefer bank cheque over other cheques and even cash! Then i don't feel like im going to get mugged![/QUOTE]

They still need a few days to clear into your account.

[QUOTE=JDM_STYLE;523337]They still need a few days to clear into your account.[/QUOTE]

But as mentioned by the OP if the transaction takes place at a bank, the teller would be able to authenticate the cheque there and then and not re-neg on it later?

Sweet thanks for the replies
That eases my mind a little :)

why don't you just get the buyers address and keep a crowbar handy

[QUOTE=HaiiSon;523340]Sweet thanks for the replies
That eases my mind a little :)[/QUOTE]

My response was a question not a statement, would be nice to get it verified though ;)