4 ms·
To be honest, these comments here on hacker news is the first time I have ever heard about the concept of cashier's checks. If someone had tried to hand me one
by chillfox 4y ago
To be honest, these comments here on hacker news is the first time I have ever heard about the concept of cashier's checks. If someone had tried to hand me one of those for something expensive I was selling before today I would have thought they were trying to pull a fast one and scam me.
I feel like I would need to see the law guaranteeing these cashier's checks before I could put any trust in them. If they are just another financial product then I don't see how they supposedly are any safer than the other dubious financial products that banks dream up.
I have always just used transfers, even for large amounts, they are mandated by law to be same day here.
- crazygringo 4y agoI don't know where you live (Australia?) but in the US cashier's checks are standard. For decades, if you close one bank account and open another, you transfer the money with a cashier's check. If you pay first month's rent and deposit on an apartment you're renting, you do it with a cashier's check before you're allowed to pick up the keys. Any time you're dealing with thousands of dollars between parties who don't trust each other, it's cashier's check. You don't need to see the law any more than you need to see the law to know that if you put a stamp on a letter it will get delivered by the post office. Cashier's checks aren't another financial product, they've been around for a lot longer than you or me. (If you're not in the US then practices might be different, I don't know.)
- alistairSH 4y agoI'm in the US. I've never used a cashiers check, either as a payee or payer. :shrug:
- deleted 4y ago[deleted]