Anyone of you received a cancelled Cashier's order?

[Finclk]

Guys,

 

I'm selling my car to a dealer. Will be passing over my Transaction Pin when i get the Cashier's order from them.

 

Want to check whether any of you experienced a dealer/seller cancelling the cashier's order after handing it over to you?

 

I know i'm being kiasu but just want to check around.

 

 

Thx

 

[Finclk]

btw i noticed that for DBS bank cashier's order, it says:

 

3. How can I place a "Stop Payment" on a Cashier's Order? What are the charges?

 

In the event that the Cashier

[Simon29]

Should be safe. Unless the cashier orders is fake,

Best is to photostats the cashier orders and the agreement contract as proof.

 

[Yeshe]

Guys,

 

I'm selling my car to a dealer. Will be passing over my Transaction Pin when i get the Cashier's order from them.

 

Want to check whether any of you experienced a dealer/seller cancelling the cashier's order after handing it over to you?

 

I know i'm being kiasu but just want to check around.

 

 

Thx

 

cashier order should be fine lah, is the dealer reputable one?

[Tripleh]

A cashier's order is as good as cash. The bank has to honor it as long as you are the payee.

[Kweechang]

btw i noticed that for DBS bank cashier's order, it says:

 

3. How can I place a "Stop Payment" on a Cashier's Order? What are the charges?

 

In the event that the Cashier

[Finclk]

Thx guys. Just trying to minimize risks n know what can go wrong.

 

Dealer is avg size but they hv quite alot biz done so feel safer also.

 

Thx all

[Jman888]

Thx guys. Just trying to minimize risks n know what can go wrong.

 

Dealer is avg size but they hv quite alot biz done so feel safer also.

 

Thx all

 

 

you to 'buy' a cashier order with cold hard cash, it won't 'bounce' like a cheque

[Simon29]

Check the issues date.....best if same day or one day ago.

 

[Jano]

yea check thru it to ensure it has the signatures etc

becoz cashier order is directly purchased after deducting sum from the person's bank acc (or co), then can issue cashier order. its different from chq that may bounce or can be cancelled easily with small sum of $30 etc

[Vsafe]

bump

[Darryn]

There shouldn't be any problem with a cashier order - if the dealer willing to give you in the first place, it is quite a big deal to "play" with such a thing.

 

[Finclk]

Dear gents, thx for all the inputs. Transfer was done yesterday and am happy it was a very smooth process. The car dealer was nice and friendly about it. I was just being kiasu and trying to know any potential grey areas.

 

True that a cashier's order is just harder to play around with. Nontheless, it was a great learning process.

 

Thx all..

[Fcw75]

Cashier's Order is fool proof I assume?

 

No one ever had bad experience with it? Are the other party able to cancel it after he passed to you like TS mentioned?

 

Just curious...

Edited May 27, 2018 by Fcw75

[Blueray]

Cashier's Order is fool proof I assume?

 

No one ever had bad experience with it?

 

unless its outright fraud.

 

can call bank with cashier's orders details to check. 

[Kangadrool]

SOP is if you need to cancel the cashier order, need to physically go bank to cancel.

 

So unless someone cried wolf make fake polisi report, don't think it's so easy to receive a bounched cashier order.

 

 

[Fcw75]

unless its outright fraud.

 

can call bank with cashier's orders details to check. 

 

You mean call the other party's bank to check if the CO is legit? 

SOP is if you need to cancel the cashier order, need to physically go bank to cancel.

 

So unless someone cried wolf make fake polisi report, don't think it's so easy to receive a bounched cashier order.

 

You mean he can just make a polis report, go to his bank and cancel the CO after he passed to me?

[Blueray]

You mean call the other party's bank to check if the CO is legit? 

 

 

yes, my friend does that when some of his customers come with big order, present CO and wants to pick up the goods immediately.