Quote:
Originally Posted by Steve Carlton
I find it hard to believe if the check is drawn against a Chase account and I take it to my bank (which is now owned by Chase), that they can't say the funds are good. But I'll ask them how long it takes for them to know the check has cleared. I know this is a scam, but wonder how it can work when my bank is the same as the "buyer."
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You'd think so but it can take checks, especially out of state checks 10+ business days to actually clear.
My guess, banks have millions of accounts with multi millions of transactions happening daily. Most likely the fraud rate as a percentage of total transactions is actually low enough for them to not bother with the expense of putting in the required infrastructure for real time validation. Couple that with it's you and not them that gets f'd in this than yeah, they probably don't care, after all, it's not them losing the money, it's you.
Quote:
Originally Posted by Steve Carlton
Is the whole purpose of this for the "buyer" to come collect the transport fees? Does he intend to take the car with the title as well, or just say he'll be back to pick up the car?
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Maybe they come for the car, most likely they tell you to use some form of electronic payment like a Money Gram. It's the least risk for them.
Quote:
Originally Posted by Steve Carlton
Wouldn't local police be interested in arresting this guy, or at least identifying him?
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Again, that's if "the buyer" is local and stupid enough to actually show up. Least likely outcome.