posted on January 25, 2001 05:38:31 PM
We received a credit card check today for an item we sold at $400+ and we are not at all sure if we like it. The name and address match and it says "use by 2/15/2001 to get your 2.9%", so the date is still good.
Once, we tried to use one of those checks at our bank (like a cash advance) and the bank would not honor it. I don't know if we can just deposit it like any other check or if they will give us grief over it. Just wondering if any of you have had an experience like this, good or bad.
posted on January 25, 2001 05:53:39 PM
I've never received one as payment for any of my auctions, but I have used them for all sorts of things. Your bank should not give you any problems with it. If they try ask for the manager maybe the clerks are not comfortable with it.
posted on January 25, 2001 08:19:29 PM
I'd be extremely wary of these if I were you! Especially for such a large amount unless the person has VERY high and good feedback. In our retail business, we used to accept these and MOST of them bounced. These are very difficult to collect and you don't get any of the fraud protection that you would get if they used the credit card itself.
Think about it, if the person had funds on thier card, they could just pay via Paypal or Billpoint. (Assuming that you accept such forms of payment.)
My advice: NO, don't take it. Send it back and tell the person to go cash it and buy a money order to send you. Offer to pay the small fee for the money order or give a small discount for the inconvenience.
posted on January 25, 2001 08:46:09 PM
The CC Checks are just like a personal check. They are not guaranteed for payment, you will need to wait to see if it clears. I also do not like to take these checks. We have also had problems with them bouncing and not being able to collect. The last one that I received, I called the credit card company and asked them if the person's credit limit available would allow the check to clear. they will not tell you how much of a limit that the person has only if the amount that your check is for would allow the check to clear their account. Now this is not a guarantee because other charges could come through on the card before the credit card company receives the check for payment but it will give you a good idea if the check is good or not. My advice also is to stay away from these credit card checks.
posted on January 26, 2001 02:57:14 PM
The bidder has 11 total feedbacks but none in over 6 months. His contact info does not match the address on the check. Looks somewhat fishy. I definetly will not ship until this is resolved.
