Originally Posted by
mactec54 
Hi little bubba
The check that you had deposited had not been cleared by your bank if you ask your bank they will tell you so you payed your credit card with money you thought you had,
(2) You did not check with the bank to see if the check had cleared as I said in other replys here it does not matter where the check comes from its not yours to spend untill your bank has cleared it & you have to verifiy this with your bank if it is a large amount that you need to use
(3) Now if the bank messed up & some how lost your deposit then this would be there fault & you would not have any late or over draw fee Etc they the bank is the libel party here if this is the case you should be claiming it all back from your banker
(4) A International check is the same as any the money is not in your account
untill your bank has cleared the check no matter how long it takes its not there to spend untill you have verified it with your bank
I had something like this happen to me one time some years ago & the bank payed all the fees back plus payed the credit card extra fee so banks if they are wrong they will make it right for you just get in there face a little if you are right & they the bank will fix it for you
Actually, this is completely wrong. Ask your bank sometime if they can tell you how long it takes a check to clear. The answer is YOUR bank clears it in 2 days for a local bank, 5 days for an outstate bank and overnight if it's something official (gov't, cashiers, etc). This process is actually Federal law.
HOWEVER, and this is the big scam no one will tell you about, it may take the ISSUING bank 4-6 weeks to confirm the funds are available and that the check is legitimate. Normally this is not a big deal, but if it's a fake, the whole transaction unravels EVEN IF YOUR BANK SAYS IT CLEARED. And you are responsible for the whole amount.
From the FTC itself: "Under federal law, banks must make funds available to you from U.S. Treasury checks, official bank checks (cashier’s checks, certified checks, and teller’s checks), and checks paid by government agencies at the opening of business the day after you deposit the check. For other checks, banks must similarly make the first $100 available the day after you deposit the check. Remaining funds must be made available on the second day after the deposit if payable by a local bank, and within five days if drawn on distant banks. However, just because funds are available on a check you’ve deposited doesn’t mean the check is good. It’s best not to rely on money from any type of check (cashier, business or personal check, or money order) unless you know and trust the person you’re dealing with or, better yet — until the bank confirms that the check has cleared. Forgeries can take weeks to be discovered and untangled.
The bottom line is that until the bank confirms that the funds from the check have been deposited into your account, you are responsible for any funds you withdraw against that check."
http://www.ftc.gov/bcp/edu/pubs/cons...dit/cre40.shtm
Bottom line is that, even if the funds are cleared, they can still be withdrawn if the check is eventually found to be bogus, even if that is months later. And, BTW, notice the contradictions within the FTC's own description (cleared vs deposited vs funds available), that's what scammers exploit and most bank employees won't be able to tell you what state your deposit is actually in...
For really small amounts (under $2000), PayPal is a pretty good (if expensive - use this http://ppcalc.com/ to recover the fees) way to get foreign payments. If it's more than that, you can do a SWIFT transfer, which is a standard way of moving money internationally. For significant transactions, the standard way is Letters of Credit and escrow accounts, but that's only worth it over $100k.
Chris.
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