Possible red flag on deal, please read.

[sdgadave]

Hey all, what do you think about this. I have 2 watches for sale right now here on TRF and I was in communication with a new TRF buyer both through dm’s and 1 phone call for one of my listing. We agreed on a price over the phone and I requested a bank transfer as the payment. He told me he has never done a transfer and was not comfortable and asked if I would take a cashiers check. I said okay and of course would wait for the funds to clear then send the watch. I got the cashiers check 2 days later and went to my bank and was told they could not verify it. Before going to my bank I googled the bank it was drawn from and called the number. What was weird is that they asked me for the check number only and asked me what the amount was for. No routing number was requested to verify. So that along with my bank not accepting the check and the weird call to the bank I will walk away from the deal.

Should I contact the buyer and tell them there was a problem with the check and request a wire? Or should I not make any contact with them as I feel it was most likely fraudulent.

Should I post the members name here. I do not want anyone to run into this issue from them.

Thanks for the help.


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[Socalwatchguy]

Why not just simply notify the buyer you were not able to cash the check? And if they want to proceed with the purchase either wire or send a new check that can be cashed. No harm in that?


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[puma1552]

Because you don't know for sure that it's a scam (it may very well be), I would just notify the buyer that the check couldn't be cashed and you are canceling the sale.

End the transaction, but do so respectfully being that you don't really know if the buyer is nefarious or not.

[RedSub]

Why would the bank who issued the check ask you for the checks routing number? That doesn’t seem like a red flag, but I’d be interested to learn more.

Also, you didn’t mention if that bank did or didn’t verify it after you gave them the check number and amount… what did they say?

Either way, if you don’t feel 110% confident, informing the buyer and canceling the sale is the right move. Too much on the line and too many great scams these days.

[watchluvr4ever]

Not completely sure about your particular situation, but fake cashier checks do exist and it wouldn’t be the first time someone was almost scammed with one. Glad you still have your watch.

[WilsdorfNDavis]

Wire transfers or nothing mate.

Cashier's checks can be cancelled even after the fact.

[Easy E]

Did you ask your bank to cash it or verify it? I’m not sure those are exactly the same question. If you deposit it, wait for the funds to clear, if it’s fake or cancelled, then you know.

[Mr. K]

Ask if you can call them at work. If possible. Go through the main switchboard after googling the company. At least that way you can track them.

Either way contact the buyer, give and them the benefit of the doubt.

[Old Geezer]

There's no way I'd go forward until a check cleared and me and my bank were 100% certain the funds were actually received from the other bank. I have no idea how banks work and whether they would post funds to your account before the check cleared but I wouldn't risk funds being pulled back out of your account if your bank doesn't get the funds.

[jb335]

The issuing bank would not ask for the routing number because they already know their own routing number.


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[Marcjvr]

Originally Posted by sdgadave

Hey all, what do you think about this. I have 2 watches for sale right now here on TRF and I was in communication with a new TRF buyer both through dm’s and 1 phone call for one of my listing. We agreed on a price over the phone and I requested a bank transfer as the payment. He told me he has never done a transfer and was not comfortable and asked if I would take a cashiers check. I said okay and of course would wait for the funds to clear then send the watch. I got the cashiers check 2 days later and went to my bank and was told they could not verify it. Before going to my bank I googled the bank it was drawn from and called the number. What was weird is that they asked me for the check number only and asked me what the amount was for. No routing number was requested to verify. So that along with my bank not accepting the check and the weird call to the bank I will walk away from the deal.

Should I contact the buyer and tell them there was a problem with the check and request a wire? Or should I not make any contact with them as I feel it was most likely fraudulent.

Should I post the members name here. I do not want anyone to run into this issue from them.

Thanks for the help.


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From:

https://www.ussfcu.org/media-center/...k-fraud-scams#

[train-time]

Return the check and cancel the deal! He had to go to the bank to get the cashier's check, why couldn't he just do the wire while he was there? It's probably even easier.

[sdgadave]

My bank would not accept the cashiers check. The manager contacted their BSA Officer and they both contacted the issuing bank and could not verify it. The branch manager explained to me the routing numbers on the cashiers check are not from the issuing bank.


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[Marcjvr]

Originally Posted by sdgadave

My bank would not accept the cashiers check. The manager contacted their BSA Officer and they both contacted the issuing bank and could not verify it. The branch manager explained to me the routing numbers on the cashiers check are not from the issuing bank.


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Abort the deal as fast as you can and say a BIG BIG thank you to your bank staff. They just saved you a ton of money

[AF_Rob]

Originally Posted by puma1552

Because you don't know for sure that it's a scam (it may very well be), I would just notify the buyer that the check couldn't be cashed and you are canceling the sale.

End the transaction, but do so respectfully being that you don't really know if the buyer is nefarious or not.

Concur. Be gracious and move on. It’s turning into a hassle.

I’d also let a mod know about the new member to see if they’ve been reaching out to other trusted sellers on here.


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[sdgadave]

Yes, I agree the deal is done. My last question is what should I do regarding the buyer?

[996marty]

Good to see you still have your watch in your possession just let the mod’s know the persons name and leave it at that. Too many stories of people getting ripped off in transactions lately selling watches privately so maybe a lesson learned

[samuel019]

Well there was a scam kinda like that going on in my industry that was kinda like that

Fraudsters using fake plastic. Card would get declined. Fraudsters Would tell them to call the number on the back. Place of business would call. Then get told the funds were good. A deposit would be made in their account the next day.

All the while the card was fake, the phone number fake, the person answering the call in on it, and no one ever got their money the next day.

I would Pasadena on the deal. Every watch deal I’ve ever done buying or selling was a wire or nothing! Good luck

[KatGirl]

Originally Posted by jb335

The issuing bank would not ask for the routing number because they already know their own routing number.


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Exactl same thought that I had. They would only need name, acct #, check #, and amount.


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[KatGirl]

Originally Posted by sdgadave

Yes, I agree the deal is done. My last question is what should I do regarding the buyer?

Just tell him you could not verify the funds, and send the check back.

Kat


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[Carguy87]

Originally Posted by sdgadave

Yes, I agree the deal is done. My last question is what should I do regarding the buyer?

Give the buyer an opportunity to wire the funds or conduct the transaction in person if feasible. If the buyer is not willing then post in the watch out section as a cautionary tale. Not saying they aren’t potentially still a legit buyer, but you had this weird interaction and you want to make others aware.

I haven’t tried to sell any of my nice pieces yet, but if/when I do if it’s not a friend or a local person I can meet face to face, I’d probably just sell it to a grey and chalk the margin difference up to the cost of my personal and financial safety.

[Kevin of Larchmont]

This buyer has already spooked you, don’t give him a second chance to do it again. You don’t need this buyer, there will be others. Mail the check back to him saying your bank couldn’t verify it and walk away politely.

[Lesnerelli23]

Originally Posted by Kevin of Larchmont

This buyer has already spooked you, don’t give him a second chance to do it again. You don’t need this buyer, there will be others. Mail the check back to him saying your bank couldn’t verify it and walk away politely.

This.

Also I will share that I had a similar experience years ago. I was selling an item, the buyer insisted on sending a cashiers check and it could not be verified by my bank. The bank manager explained that it (at the time) was a very popular scam. When I was polite to the buyer and told them the situation (didn’t mention scam) they became irate and argued that I owed them the item because I had their money and they’d sue me and so on.

I’m glad you’re walking away! Be prepared for a heated response :/


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[OG1982]

Jesus, you’re still using cheques over there!


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[Harry-57]

If there is a doubt there is no doubt. It might be unfair on the buyer but it's not your problem.

[HL65]

Originally Posted by wilsdorfndavis

wire transfers or nothing mate.

Cashier's checks can be cancelled even after the fact.

x2!!!

PS Cancel deal and find a legit buyer!

[Rolexken]

Selling to a reputable grey dealer for less money is also far less risky

[JSCP]

Mail his check back and state bank wouldn’t take check for reason they couldn’t verify it.

DO NOT give your bank details! for bank wire transfer at this point. They would have your information, and who knows.

I think better off selling to a dealer or someone you know.

[Law52]

This is basically plain and simple. The buyer tried to scam you with a fake cashiers check.
I’d break off all communication with them and report this to the authorities. If they do have an account on this forum, then I’d report the details.

[Giangos]

Cheques!!
Seriously?

Isn’t it 2023 over there ???

I am amazed that’s how you guys still operate. What a monumental waste of everyone’s time. In the era of internet banking and apps, you still go to all of this effort.

As a seller, just make it a condition of sale that funds are paid the way you want to receive them.

I too think you are being scammed by this “buyer”.


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