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Fred Rawling

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A customer of mine once hauled a Cutlass to IL for a sale. Requested a cashier's check as payment, which he got. It was a few hours between the time the "sale was consummated and funds/car exchanged". When he went to the bank to cash the check, he discovered the payment on the check had been "stopped" by the purchaser. My customer was shocked as he didn't know that could be done. He called the buyer and inquired as to what was the problem. The purchaser had taken the car to a "trusted mechanic" and wanted to get the car inspected. In order to put the car back to completely stock condition, he'd built a "laundry list" of items, as a new distributor as the one in the car had been "recurved from stock", for example. No body issues, just mechanical stuff. During their phone discussions on the vehicle, these things were not mentioned.

This was a HUGE learning curve for a guy that'd bought and sold many cars over the years, who was under the orientation that a "cashier's check" was "good as gold" and when received, the "deal was done". He found out that a cashier's check was just a higher level of personal check, with a guarantee that it was good when it was written, by the bank. "Stop Payment" was just as operative with it as a personal check . . . as he found out.

PayPal has its advantages.


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