Re: ? about a sale with cashier's check

Posted by Ray on April 13, 2010 at 20:04:17 from (71.48.72.166):

In Reply to: ? about a sale with cashier's check posted by redtom on April 13, 2010 at 19:29:44:

A cashiers check is no safer than a personal check,there both checks. Locally i will take a personal check,otherwise i make them wait till it clears.It should clear in 4 days,but my bank sends them back through the system a second time if they bounce without telling anyone.So i ask for a 10 day clearing period.Most people won't pay cash for large purchases,they think you don't own it or stole it if you want big cash.Also if you draw out over 5 grand the bank alerts the Irs.Also if you accept over 5 grand you are supposed to file a 1099 on the person by law.

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