and it's all clear.
Bitcoin isn't real money. It's a bunch of 1's and 0's made up by some computer geek with wild fluctuations in value that is treated like a commodity by SEC and therefore taxable by the IRS.
I'm an old, retired conservative banker. If anyone is considering bitcoin, here's my advice; read everything you can find, and when you're sure you understand it, then make your decision.
I worked at the post office window for years. We had fake MOs come in quite often. They stood out like a sore thumb to me. Regardless, if the post office cashes it, you are home free. Cash it first and then ship. Never assume it to be legit. Of course, don't assume anything anyway.
Just because it clears your bank in a couple of days doesn’t mean the funds can’t be removed if later found to be fraudulent. Your first scenario is the best
Then we are getting back to the point that PayPal (or Venmo, or Zelle) payments are safer in this sense than any of traditional check payments. From my understanding, cashier's check is backed by funds that are withdrawn from your bank account when you draw this check. And you can check availability of funds and validate cashier's check only as well as I recall. So, I have no idea how they can withdraw deposited cashier's check funds back. With personal check, this can be the case, but until it clears. Cleared check means that funds were moved between two banks and available for you to spend, i.e. the other bank confirmed the validity of the check and released funds. How after this point can the bank "backtrack" it? What am I missing?
Call you bank ask them if you deposit a check or money order or even cashiers check and 6 months later it is determined to be fraudulent can they remove the funds from your account. We are talking about Money orders and checks that were at one point a valid form of payment that has been washed and the payment amount has been changed and the payee as well as the date. Most signatures remain as the original signer.
I had a similar situation in the summer. I was selling a rifle and buyer did some kind of thing where he electronically contacts his bank to send me a check. The bank was the one to actually mail the check. More than a week goes by waiting on check. I stay in contact with buyer to assure I still have not received payment. I wondered if he was starting to wonder about me. I’m betting he re-checked my seller feedback. Finally after almost two weeks the check arrives. It probably sat in an “outgoing mail box” at bank for close to a week. Anyway, check showed up and rifle was shipped, both parties happy.
Weird since the tracking number is on the bottom of the receipt. Just sent a package last week and got a tracking number even though I didn't ask for one.
I had exactly the same thing happen to me, but I was the one who was sending a check from my bank. It also took two weeks to reach the seller and after this I never schedule check payment via my bank, I just mail them myself from a post office with certified mail.
