Is it safe to pay with a cashier's check?

Ross Fellrath · From: Minnesota, USA

I would really like to buy a guitar that is listed for sale on this forum. The seller will only accept a cashier's check. I would really prefer Pay Pal because the transaction is protected. How can I know that he will send the guitar and it will arrive in the condition as described? Sorry to be overly cautious, but I was burned by a seller on here once before. Any advice is greatly appreciated.

Thanks,
Ross Fellrath

Pat Moore · From: Virginia USA

Hi Ross,
See what you can find out about the seller here on the forum. Search all of his posts. Also, do you think he would send you the guitar first, then wait for the check? Probably not. Same thing. There are too many guitars for sale here to have doubts.
Just my opinion.
Good luck with it.
Pat

Dave Mudgett · From: Central Pennsylvania and Gallatin, Tennessee

IMO, there is a risk of something going wrong anytime anybody does an at-distance transaction, no matter how it's paid for. Paypal tends to favor the purchaser, but sellers can get burned. Those of you naysayers who insist it can't happen - it can, I've seen it. Cashiers checks or money orders tend to favor the seller if they don't ship until funds clear, but even they can be forged or there can be other problems. There is no perfect 'system'.

I also think it matters with whom you're dealing. There are people on here that I trust implicitly - I would just send them something and know that there'd be no problem - they'd either send the goods or money with no prompting from me. There are others that I wouldn't do that with. Carefully check out the seller and his/her reputation on here. Take your time - there's always another guitar around the corner, it's no big deal if you miss one.

If you're really worried, I suggest you either travel to inspect the guitar and pay cash, or use a broker/forwarder of some type. A broker can accept the funds/guitar from both parties, check it out, and forward money and guitar to respective parties if everything checks out OK. Of course, professional brokers charge a fee, there's no free lunch.

Stephen Abruzzo · From: Philly, PA

What Dave said is spot-on.

My own experience is that I much to prefer to buy items via PayPal. Not because it's "protected" which is a wonderful bonus, but because it's a very clean and immediate transaction and I follow up with an e-mail just to make sure the buyer has received my PayPal funds.

I did pay by regular check once, at the seller's request, and felt secure about it because he is frequently on the Forum and has a sterling reputation.

The great thing about PayPal is that sellers can easily see who their repeat customers who, who is a pain in the butt to get funds from and who pays right away.

Has been a God-send to me for buying here on SGF and on Reverb.com.

Eric Meyer · From: Illinois, USA

Generally yes a cashiers check is safe to use. It all comes down to who you are dealing with.

Like it has been said, all transactions have risk. With CC if the seller decides to keep your money and not ship it is very hard to get your money back. On the other hand, if the buyer sends you a fake CC or cancels it while it is in the mail you will be out your cash and gear.

With electronic payments, it is easier to get your money back as a buyer if something goes wrong. As the seller, electronic payment companies tend to favor buyers in disputes. The typical scam is the buyer claims the package never arrived and you could be stuck with no money and no gear. If you use an electronic payment pay the extra few dollars to require a signature for package delivery. It's a little extra insurance.

Personally, I dislike the hassle of a CC and that is why I do not use them. As a buyer and seller I would rather push a few buttons to send or receive money. With a CC it means making a special trip to the bank or post office.

Ross Fellrath · From: Minnesota, USA

Hey thanks for the great advice. I will keep it in mind for future transactions. I really wish everyone would accept Pay Pal, it really does make things easier. I think it protects the buyer and the seller equally from my experience.

-Ross

Tony Prior · From: Charlotte NC

Not so fast. Bank Checks are about as safe as any other method, PAYPAL favors the BUYER and should the BUYER decide to do something underhanded he can file a claim and the money is pulled BACK from the sellers account and placed in a HOLD area until the dispute is settled.

My own preference , buying or selling along with agreement with the other party, is Bank Checks or CASH if it's possible to meet in person. If you are dealing with a $3000 +/- transaction the seller is looking at a $90 transaction fee and that could make or break a sale . If it's a $100 bucks then it's no big deal. If a seller is looking at a $100 plus fee just for using PAYPAl, then it should be expected that they will negotiate in the UP direction !

Get to know the buyer/seller, do whats best for both parties.

regarding timing of shipping, even when buying, I am fine with waiting until the next Monday before shipment so the Steel doesn't sit somewhere unknown for 2 weekend days. Waiting a few days for a bank check to clear is not an issue for me, maybe not even for many of us.

Work it all out on the phone a couple of times , at the end of the day it all comes out the same, except for the PAYPAL fee's !

I do accept PAYPAL if the buyer is "SET" to only send money that way, we work it out. I do not refuse them.

Also remember this, as a seller, if someone sends you 3 grand, the fee's are deducted immediately and when you transfer the balance to your bank account it takes as long as 4 days. This is also a formal recorded IRS transaction should someone be looking at you ! Smile

So keep your buying/selling records in order !

I know some of you are laughing.

_________________
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Pro Tools 12 on WIN 7 !
jobless- but not homeless- now retired 9 years

CURRENT MUSIC TRACKS AT > https://tprior2241.wixsite.com/website

George Seymour · From: Notown, Vermont, USA

The best way is to personally inspect and complete the transaction face to face, obviously, otherwise free and comfortable phone conversations that satisfy your instinct. Worked for me in the past with no issues, oh let me rephrase that, make sure you ask the question: "when I receive this guitar could I bring it to a gig and play it?" I did receive a guitar that was not playable, if the seller will not or doesn't know the answer to that stay away. I think postal money order is less likely to be a forgery?
_________________
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Old Gibson Mastertones

Steve Spitz · From: New Orleans, LA, USA

I prefer to not use PayPal. I thought I would be protected on an international deal, but called Paypal for the details. They explained the funds would not be released to me until the item passes Italian customs, which have a very spotty reputation. The Paypal rep even admitted it favored the buyer, with the seller assuming all the risk. I found another way, and was able to do a bank wire transfer. Not exactly apples to apples, as this was international, but as Tony suggested, it protected the buyer, and all potential risk to the seller.

Warren Tavernia · From: Pennsylvania, USA

paying with a cashier`s check would be no differnt than paying with a postal moneyorder. just my oppinion but I do undersytand yiur concern warren

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