Wire from BS update.

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11-21-2005, 08:46 PM

#11

bgchuby01

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Re: Wire from BS update.

you posted that you were getting money to fix your boat but who's BS

11-21-2005, 08:50 PM

#12

LubeJobs42

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Re: Wire from BS update.

Quote:

Originally Posted by bgchuby01

you posted that you were getting money to fix your boat but who's BS

??
My boat has nothing to do with this. This is a past situation that has come to an end.

11-21-2005, 08:51 PM

#13

Wobble

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Re: Wire from BS update.

Quote:

Originally Posted by LubeJobs42

I received a call from BS this morning at 9am. He said he was at a bank with $7500 in hand. He said the lady said if he did the wire it could take from 24 hours to 7 days to clear in my account. He asked if I wanted the wire or cashiers check overnighted. I told him to get the cashiers check and Fedex it. My secretary received a fax from Pak Mail Burlington with a copy of the cashiers check, the customer receipt and the fedex tracking info. I tracked the package and I will have it tomorrow by 10:30. It all looks good to me. I will post the final update tomorrow. Thank you again to all who helped me in this situation.

Not to be a pessimist or anything, but a cashiers check can have a stop pay put on it like any other check. I wouldn't treat it as money in hand until your bank confirms that it has cleared his bank.

Good luck

11-21-2005, 09:10 PM

#14

Marginmn

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Re: Wire from BS update.

Quote:

Originally Posted by LubeJobs42

He said the lady said if he did the wire it could take from 24 hours to 7 days to clear in my account.

For some reason this all sounds familiar to me.

As long as B.S really had the funds to present to the bank then any funds he transferred via wire x-fer should be available to you in the matter of a few hours. I do wire transfers from my brokerage account all the time. As soon as they hit my bank they are good. If done in the morning they clear that same afternoon. If done in the afternoon then they usually clear the next morning. Speed is the appeal of a Wire Transfer. It cost more but it's fast and pretty much irrevocable once it hits your account.

An international cashier's check on the other hand will likely take 10 to 15 days to wind its way through the American and Canadian banking systems. All a cashier's check proves is that the person writing the check actually presented sufficient funds to have the check issued. Even though it is a cashier's check at any time prior to it clearing their bank they can cancel it and get their money back.

I hope he is sincere and that the check turns out to be good. Mine situation turned out well but it sure wasn't fun waiting the two weeks to find out.