Cash is king in terms of security from your end. A bank draft is only issued if the funds are available so this should be safe too but they can be forged. To be fair though I think you would have to be damn unlucky to get caught out in this way. .
Due to the nature of where I work, I'm aware of at least 1 person probably being caught out on a daily basis with a fraudulent draft for sales like this, and that's only relating to a couple of banks with less then one third of the market. You should never accept a draft without checking with the bank that it is correct and valid.
OK - just to recap - Bank notes can be fake and there is an inherent danger in having a lot of cash either on you or in your house.... Bank drafts can be forged..... cheques can bounce.... you could be de-frauded, left out of pocket, robbed or mugged.....
That's it... I'm locking my doors and boarding up my windows... leave alone trying to sell my car.....!!!!!
OK - just to recap - Bank notes can be fake and there is an inherent danger in having a lot of cash either on you or in your house.... Bank drafts can be forged..... cheques can bounce.... you could be de-frauded, left out of pocket, robbed or mugged.....
That's it... I'm locking my doors and boarding up my windows... leave alone trying to sell my car.....!!!!!
The entry to the account would have a narrative of a cheque lodgement as opposed to incoming credit transfer. Also, the value dating of the cheque lodgement would not have been same day. But interesting all the same - one should be careful to look at the payment type into your account! thanks for the interesting example...Friday afternoon seller sees money in the account ....
Buyer did not do an online transaction, instead waited till friday to lodge a dodgy cheque.
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