eBay - potential buyer asked to pay by cheque

soolin

theonlywayisup wrote: »

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.

Thank you, it is useful to see how the 246 rule actually works, there are so few cheques floating around now I suspect many of us will go from one year to another without ever being offered one.