Then, the buyer wants the seller to "just go ahead" and deposit the check.
That process can take several business days or longer. The less you know about your buyer, the longer you should wait. Unfortunately, your bank makes the assumption that the check will be good, but the responsibility is ultimately yours.
In some cases, victims lose hundreds or thousands of dollars. Once your bank finds out that the check was bogus, the deposit will be reversed — which could leave you with a negative account balance. Take action to prevent further losses , and report the crime to the police.
Fake Checks | Consumer Information
As with everything, you have to ask if the situation makes sense. Keep an eye out for any of the situations below and more. Con artists continue to change their approach over time, but these are some of the classics.
How to Cash a Cashier’s Check without a Bank Account
Often advertised as a work-at-home check processing job, these schemes are often problematic. In exchange, you can keep a tiny fraction of the transfer, which is more than you make in a year.
Inheritance and lottery scams: Search the site GO. Updated September 30, Get Daily Money Tips to Your Inbox Email Address Sign Up.