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Discussion Starter #1
I use my military bank which isn't local.So when i find a bike that i want to purchase,a cashiers check from my bank would be fine wouldn't it.I mean what else can i do since i can't get the cold hard cash in hand.I ask in the event that i have to travel a little ways to pick the bike up.I would hate to have to travel a few hrs check out bike,go back home,wait for bank check to clear then travel again for a few hrs again,pick bike up then travel a few hrs back home again.I would understand if the seller didn't feel comfortable.I mean i can have my bank on the phone to verify the funds.
 

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a cashiers check or money order would be fine. most people would rather take that over cash for anything more than 2k... its a liability issue on both ends. cashiers checks are legal and known good, not cumbersome and be rather easy to handle...
 

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deposit the credit unions cashiers check to your bank, and cash out the money?

if your bank trust you, then they can release the funds right away, if they hold it.. then they have their doubts and the bike seller would as well :)
 

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he was asking about using it to purchase.... most banks wont give you more than 2k in cash on the spot... they require a day or so to make sure its right
 

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he was asking about using it to purchase.... most banks wont give you more than 2k in cash on the spot... they require a day or so to make sure its right


right..

i think i just didnt go into details, i know that navy federal credit union usually has limits on max amount you can get. so best option is to get a cashiers check.. but loophole around navy fed is get a cashiers check and write it out to yourself. bank takes the money out of your account and makes the fund theirs. And then you can take that check and cash it in the bank up to $10,000.

not sure what bank he has tho, im sure pentagon CU and the others are the same.

but if there's a negative standing on your name with the bank, then they might want to hold that cashiers check, but i have done it before.

and private sellers perfers cash, almost 90% of the time so its best to bring the cash over.
 

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I understand they prefer cash.I bank with USAA which doesn't have any local branches at all.No negative name with my bank paid off my car loan and all and they're wanting me to take out another loan before i even paid the car off!I think i'll just have them overnight me a cashiers check for the set amount a be done with it.Hopefully the seller understands that not everyone can get 3-4,000 cash.
 

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ohhh!!! now i see, really not that local so they would have to mail you the cashiers check.

The seller might not want that, unless its a larger bank with lots of local branches.
main thing because the sellers bank might hold that check for up to 10 days, so he would want to go your bank to cash it out, but since that is not an option then the seller might not like it, i dont think id want to wait 10 days to get the money either even if i know its legit.
 

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Yes, I would only accept cash. I did hear of fake cashiers checks too. Once a guy a guy tried buying a car from me and had a fit when I told him I want the $5,500 in cash. I told him to take a hike.
 

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Discussion Starter #10
Yeah thats my delima.I think i'm going to have to open a account locally,just for this purpose, have my bank deposit the monies into the local account. What if i can do a direct transfer from my bank to theirs on the spot.With their bank verifing the funds have been deposited.My bank is super fast with transfers!
 

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Find a bank with branches all over the country if you can.
 

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I work at a local community bank. But the cashier check will be fine man.

Also if the seller wants money because he is worried about the check then deposit into your local bank if you have one.

If they are worried about it they can always call and verify funds and then go ahead and cash it. Or you can get the credit union to address it to the seller like you would anyways and once it clears his account you can get the bike.

There is a lot of faud in cashier checks but any bank should be willing to verify funds and cash it for you.
 

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Yeah thats my delima.I think i'm going to have to open a account locally,just for this purpose, have my bank deposit the monies into the local account. What if i can do a direct transfer from my bank to theirs on the spot.With their bank verifing the funds have been deposited.My bank is super fast with transfers!
That is more of a wire transfer of funds which you do not want to do that because it will cost money. Also most new account holders they won't cash checks. It is a Reg that you can hold checks on new accounts for 7 days without telling the customer for the first month.

If you open a new account ask your "navy fcu" or whatever military bank you are using to do an ach which is automated transfer to your bank and then the money would be available.
 

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Is that so?

https://www.google.com/webhp?source...sb&fp=433ac409f622857f&biw=1920&bih=955&ion=1

You better think again.

I will not take anything but cash. A cashiers check is the chosen method of fraud these days.
+1
Cashier's check is nothing more than a check issued by the bank at that time. I wonder if someone could clear out their checking account if there's an outstanding cashier's check? Someone could end up with a NSF cashier's check.
if someone wanted to buy my bike and said they had to wait for a cashier's check from out of state, I would pass.
 

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Cashier's check is nothing more than a check issued by the bank at that time. I wonder if someone could clear out their checking account if there's an outstanding cashier's check? Someone could end up with a NSF cashier's check.
if someone wanted to buy my bike and said they had to wait for a cashier's check from out of state, I would pass.
How they work (for my bank) is that if you go into the branch and want a check, we withdrawal the funds from your account and then put them into the bank's account. Then it will stay in the banks account until it is cashed or deposited. Banks will not issue a cashier check if you do not have the money at that time.

I agree though, there is a lot of fraud in cashier checks and that is why we call and verify the check or put a hold on it.
 

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Discussion Starter #17
Have another question.I've seen a few used zx7r's that i like.So i go on KBB and look up the retail value and trade in value.So i should start offering between those two values no matter what they're asking right? I've seen some asking prices that are just ridiculous!
 

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Have another question.I've seen a few used zx7r's that i like.So i go on KBB and look up the retail value and trade in value.So i should start offering between those two values no matter what they're asking right? I've seen some asking prices that are just ridiculous!
Start at trade in value or below it. You can always give a higher offer, but you can not really rescind on a higher number.
 

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I understand they prefer cash.I bank with USAA which doesn't have any local branches at all.No negative name with my bank paid off my car loan and all and they're wanting me to take out another loan before i even paid the car off!I think i'll just have them overnight me a cashiers check for the set amount a be done with it.Hopefully the seller understands that not everyone can get 3-4,000 cash.
You can also add the seller in your list of "payees" and electronically pay him. A cashiers check is sent straight to him just like you would to pay an electric bill or such. If the seller is also a USAA member then you can just call USAA and have them transfer to his account on the spot. I've done both...no problems.
 
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