I think he cashed check at bank and then tried to deposit cash at credit union. Not sure why he didn't deposit check at credit union. Seems like a lot a trouble to go through.
Agree.. This is suspicious.. I don't believe this guy at all.
There's no reason why he couldn't take his check straight to his credit union.
I believe his logic was that he went to the purchaser's bank to confirm that the the funds were available in the guy's checking account right then. He then decided to cash the check there to be sure that the guy didn't draw down the account before the check cleared, i.e. make a few ATM withdrawals which would later cause the check to bounce at his credit union.
I have done something similar with money of that amount. Here is why it makes sense:
1. The check was drawn on the bank in question. Not being in the retail business, whenever I've taken a check, large or small, at a yard sale or other opportunity, I've gone to the bank it was drawn on to verify that the money is actually there and to get it into my possession as soon as possible.
2. Going to that bank meant he could get the money immediately. If he merely deposited the money at the credit union, there would be an automatic hold on it and it wouldn't be available to him until it cleared. If the writer of the check just happened to process another check before the credit union completed its transaction with the bank such that the account was overdrawn even by a small amount, the bank would not honor the check.
Those making accusations that the accuser's actions were suspicious must never have taken a bad check and had to take extra steps to get even a fraction of the money. I sold a car once and the check bounced. It cost me 1/3 of the amount of the sale to have a collection agency get the money.
Not sure why he didn't deposit check at credit union.......
Not sure??? Read the story and you'll find out why.
"Not sure why he didn't deposit check at credit union. Seems like a lot a trouble to go through."
He was at the bank to see if the check had funds behind it...while he was there he just decided to cash it.
That one is easy: So he would have cash in hand right away.
He went to the bank in person to verify the funds were available. If he had doubts about the buyer, the only way to be sure the funds would still be available would be to cash the check on the spot. Once the trailer leaves with the buyer, the money could leave the account, too.
The bank would have got the float.