Not exactly sure how it works in US but in UK a cheque can show as cleared into your account but after that point there are waiting days during which if the issuer goes overdrawn or past his facility the bank can claw back the money.
good to see you getting some movement with your sale...I would imagine the market will improv with the weather so don't give your bike away.
yeah, i figured if we take the money to the bank and make sure all is legit (no fraud) there isnt any recourse to cancel the sale once the bike is gone. i wont take a check unless its cleared for awhile.
I'm not sure why there isn't an escrow company dedicated to buying/selling bikes/cars/boats, etc. I mean we use them for houses, why not something like this?
With Wiring money if he is in the same area. you can call your bank and they can see the money is there. and you are protected because the bank can tell you once the funds are there and secured not in holding which with wiring happens instantly. on Cash deals I just met the guy at the bank even with a check if they cash at Their bank you will know immediately if the check is good or not.
Most banks now have a deposit # like a routing # so when you give your info to someone to deposit money they cant fish for your direct account and drain your money. I know with my 2 banks that is how it works. so when someone wants to buy something and wire the money it goes to a generic account then the bank pushes it over to me. You can always call and get this info.
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