eBay - potential buyer asked to pay by cheque

jonesMUFCforever

I think you should all know this.
If a bank suspects fraud then 2-4-6 flies out of the window.


Therefore I stand by my post.


Accept a cheque if you must but why not have it done by Faster payment.

soolin

jonesMUFCforever wrote: »

I think you should all know this.
If a bank suspects fraud then 2-4-6 flies out of the window.


Therefore I stand by my post.


Accept a cheque if you must but why not have it done by Faster payment.

The rules are clear, banks cannot get round the 246 rule if they later suspect fraud the whole point of the new regs was to give payees confidence in the cheque system.

However, Op can read all the advice and decide what is best, although I agree with your suggestion that a simple bank transfer, cleared overnight before shipping goods would be better and faster.

jonesMUFCforever

The info is here for anybody wishing to read.
http://www.chequeandcredit.co.uk/files/candc/c&ccc/cpas_&_fraud/cheque_advice_guide_-_nov_12.pdf

George_Michael

jonesMUFCforever wrote: »

The info is here for anybody wishing to read.
http://www.chequeandcredit.co.uk/files/candc/c&ccc/cpas_&_fraud/cheque_advice_guide_-_nov_12.pdf

And the info that is there confirms exactly what myself, Soolin and SFA have been saying all along which is that the payment from the cheque can be taken back after day 6 but only if you are complicit in any fraud related to the cheque.

macman

A cheque is fine as long as the buyer is aware that you won't post the item until day 6. If they want it quicker, ask them to use Paypal or BACs.
However 3 messages in one day rings alarm bells, just too eager. You have to go with your gut feeling on this, depends I suppose on the item value. If you are not 100% happy, decline it.

Strapped

I accept cheques, unlike many of my competitors, and do seem to pick up a bit of business because of it. I have never had an issue with a cheque writer. As you say, they just tend to be old schoolers.

ballisticbrian

Glad to hear the art of letter writing hasn't died!

That's true, but you can see how it's from a bygone age when there was a slower pace of life. You could never run a successful business these days with letter writing orders and cheques. The world moves so fast now, profit margins are very tight.

Armorica

kurgon wrote: »

Hi


This isn't correct;


A cheque may be returned later than day 5 if it is found to be fraudulent. For instance if a fraudster has bought goods using a stolen cheque, the genuine owner may not discover until sometime after the goods have been exchanged that money is missing from their account. In this case, the money that has been paid into the seller's account belongs to the genuine cheque owner and could be withdrawn once the fraud is discovered. If you accept a cheque that subsequently turns out to be fraudulent, you may be required to return the funds. See the section below for tips on Avoiding Cheque Fraud.

The credited customer won't be debited after the end of day 6 unless they are a 'knowing party' to fraud; or if they consent to the debit.

The OP won't be required to return the funds if they are not suspected of fraud.

snappyhappy

If you don't feel comfortable with a cheque why not ask for a postal order? I have in the past and had no problems - I did ask them to send it recorded delivery though so they couldn't claim to have sent it and it must be lost in the post.

theonlywayisup

Thank goodness for the regulars and their advice.

We take cheques. I've had two fail this year, one was stolen. I still have the funds from the stolen cheque as it wasn't reported stolen (presumably the owner didn't know) for some months. I had a letter from the bank. Basically it advised the cheque was stolen, the funds were mine and no further action could be taken on my account. It was only a couple of hundred pounds, but thanks to the 2-4-6 I was protected. Just make sure you don't release anything until the 7th day, it can still fail on the 6th.

The other cheque was returned to me as refer to drawer as clearly not enough funds. I had a call from the bank on day 4 and the cheque was back with me a few days later. Don't rely on the bank calling you, we are a business customer.......but you can ring them on day 7 to confirm.