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#2233628 - 03/25/20 01:42 PM Cashier's Check Stop Pay
burkemi Offline
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Joined: Nov 2013
Posts: 549
I'm pretty certain I know this answer - but...…..

We have an elderly customer that has fallen victim to a scam. She has bought two high dollar cashier's checks and sent them out. After the fact, we found out the scam behind it. So the cashier's checks are legitimate, but the purpose isn't. Is there anyway at all to stop these?
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#2233632 - 03/25/20 02:20 PM Re: Cashier's Check Stop Pay burkemi
BrianC Offline
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BrianC
Joined: Nov 2004
Posts: 6,715
Illinois
Nope. Your bank would be liable to a holder in due course under the Uniform Commercial Code if you return these items.

When they attempt to clear you can always try contacting the bank of first deposit to see if the funds are still available, advise them of your suspicions to see if they are willing to holds funds for you with a "hold harmless" agreement that your attorney draws up. However if the funds are already gone, there is nothing that can be done.

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#2233673 - 03/25/20 07:37 PM Re: Cashier's Check Stop Pay burkemi
burkemi Offline
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Thanks Brian. Was hoping there was something somewhere I was missing.
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#2233678 - 03/25/20 08:22 PM Re: Cashier's Check Stop Pay burkemi
BrianC Offline
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BrianC
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Illinois
We have to accept the fact that we can only do so much to protect people from themselves.
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#2233883 - 03/30/20 03:01 PM Re: Cashier's Check Stop Pay burkemi
John Burnett Offline
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John Burnett
Joined: Oct 2000
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Cape Cod
Cashier's checks are a poor choice for any transaction with an unknown party. Some banks have gone so far as to have "NOT SUBJECT TO STOP PAYMENT" or words to that effect printed on the face of their cashier's checks (or on the customer copy, if one is provided).
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