A bank check is a means of payment with multiple advantages. Unlike the traditional bank check, it secures transactions. Often claimed when selling a vehicle such as a car, it is not immune to scams. How to recognize a fake bank check and thwart scams? What information should you verify before accepting this payment method? All our advice to avoid falling into the trap.
Check the authenticity of a bank check
The best thing to do is to contact the issuing bank to verify the reliability of the payment method. Even if the check turns out to be in good condition and looks genuine, take this precaution.
Contact the bank whose name appears on the document before completing the transaction. Be vigilant until the end by looking for the telephone number of the banking organization yourself. Do not rely on the buyer who can send you a false number with the presence of an accomplice. Generally, the bank number is visible on the title.
Once on the phone with the bank, give your interlocutor the number of the check as well as its amount and the name of the beneficiary.
To simplify your task, take the lead by asking the buyer to send you the scan of the bank check. Your own banking establishment will thus be able to ensure with the issuing bank that it is a real title and not a falsified document.
You should also know that it is possible to accompany a buyer to the counter of his bank when applying for a title. A radical solution to avoid bad experiences.
Finally, also pay attention to the quality of the check, and refuse it if it has suffered alterations (scratches, scratching, etc.). And in case of different entries or an incorrect amount, take no risk!
What information must appear on the bank check?
A bank check must include certain information relating to the NF K11-111 standard.
- the name of the issuing bank;
- the box “payable in France” including the identification of the place of payment as well as the telephone number of the bank;
- the name, address and account of the drawer;
- the amount in words and figures;
- the place and date of issue of the security;
- the magnetic line made up of letters and numbers. This is located at the bottom of the check.
The presence of a watermark on the bank check
Since 2009, all bank checks have a standardized watermark. This is embedded in the paper. Its level of security is comparable to that of banknotes or identity documents.
Flip the cashier’s check over to see the watermark through it. It bears the mention “bank check”.
Verify the identity of the buyer
To go even further and avoid fake bank check scams, do some research on the buyer beforehand. Start by evaluating its e-reputation by doing a search on Google. However, take the results with caution. Indeed, a scammer can very well usurp the identity of another person.
During the transaction, beware if the buyer wishes to pay a part in cash. Ask him for an identity document in order to rule out any usurpation. Compare the information (height, age, etc.) with the person in front of you. Does it match the photo?
If in doubt, postpone the sale. Never let a buyer leave with your valuable item if it seems dishonest to you.