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Q: I got exactly what seems a cashier’s check for a product I sold but I’m very scared that it’s not genuine. How can I tell if this is genuine and the cash really exists?

– Christopher D.

A: With check scams being an usual incident, it’s a good transfer to question the authenticity of a cashier’s check from complete strangers.

Although a cashier’s check is considered even more secure than individual checks, since the funds in a cashier’s check is held by the issuing bank, fraudsters can create counterfeit cashier’s checks.

One of the telltale signs of a fraudulent cashier’s check is the payment quantity. If the cashier’s check quantity is higher than what you are anticipating, and the check author asks you to send back the amount of the difference, the cashier’s check is most likely a phony.

In this case, the check writer was hoping that you ‘d send out the funds prior to you found that the cashier’s check wasn’t genuine.

Or, a fraudster can have purchased an item from you and anticipated that you’d send the product while your bank is still the procedure of verifying an artificial cashier’s check. The quantity on the fake cashier’s check might even be put into your account balance. But, in a week or 2, your bank will learn that the cashier’s check was fake and the transferred funds will be withdrawn.

To verify that the money actually exists, you need to call or explore the bank that released the cashier’s check.

If you opt to call the bank, don’t make use of any telephone number that’s printed on the cashier’s check. The phone number on a check might path your call to the fraudster, who’ll position as bank personnel when “confirming” the cashier’s check in your hands.

Instead, a fast online search will assist you discover the right number to call.

Ideally, you’re to explore a branch of the issuing bank to verify the cashier’s check. And, you squander the look at the spot. Getting the cash in your hands instantly is better than taking the cashier’s check back to your bank to be transferred.