# For a seller, what is safest form of check payment to accept? **URL:** \ **Category:** Factual Questions\ **Created:** [September 29, 2016, 6:57pm UTC](https://boards.straightdope.com/t/for-a-seller-what-is-safest-form-of-check-payment-to-accept/767228 "2016-09-29T18:57:15Z")\ **Posts on this page:** 6\ **Page:** 2
**Author:** ![kayaker](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kayaker/32/441_2.png) [@kayaker](https://boards.straightdope.com/u/kayaker)\ **Post date:** [September 30, 2016, 11:51am UTC](https://boards.straightdope.com/t/for-a-seller-what-is-safest-form-of-check-payment-to-accept/767228/21 "2016-09-30T11:51:43Z")
Another cash transaction fan here. I’ve bought/sold a few boats in the ten to twenty thousand dollar range. I had _one guy_ ask if I’d take a check. I rolled my eyes and he chuckled, “yeah, didn’t think so”. (I’ve had dozens of buyers want to trade me their ATVs, though. What’s up with that?) There’s something sexy about ten grand in banded twenties in a paper bag. ---
**Author:** ![Duckster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/duckster/32/1244_2.png) [@Duckster](https://boards.straightdope.com/u/Duckster)\ **Post date:** [September 30, 2016, 2:52pm UTC](https://boards.straightdope.com/t/for-a-seller-what-is-safest-form-of-check-payment-to-accept/767228/22 "2016-09-30T14:52:10Z")
> [@dtilque](#): > > But I believe it has to be actual cash, not a check. Last year I deposited a check for over $10,000 and did not have to fill out a CTR, although I expected to have to. You don’t file the CTR; [the bank does](https://www.ffiec.gov/bsa_aml_infobase/pages_manual/OLM_017.htm). Also with the suspicious activity report ($5,000 threshold), [a bank must file on any type of transaction](https://www.ffiec.gov/bsa_aml_infobase/pages_manual/OLM_015.htm). A bank also monitors and records all funds transactions of $3,000 or more. What it all means is: [ul] [li]Any funds transfer of $3,000 is recorded;[/li][li]Any transaction of $5,000 or more is subject to reporting by the bank through a SAR (bank discretion), and;[/li][li]Every cash transaction $10,000 must be reported through a CTR (mandatory).[/li][/ul] ---
**Author:** ![control-z](https://avatars.discourse-cdn.com/v4/letter/c/eada6e/32.png) [@control-z](https://boards.straightdope.com/u/control-z)\ **Post date:** [September 30, 2016, 3:12pm UTC](https://boards.straightdope.com/t/for-a-seller-what-is-safest-form-of-check-payment-to-accept/767228/23 "2016-09-30T15:12:01Z")
Cash is by far the safest way. I wouldn’t accept anything else unless I knew and trusted the person. I sold an $8,000 car and walked away with an letter-size envelope full of cash, and my friend sold a $15,000 boat and he too walked away with cash. ---
**Author:** ![Turble](https://avatars.discourse-cdn.com/v4/letter/t/8dc957/32.png) [@Turble](https://boards.straightdope.com/u/Turble)\ **Post date:** [September 30, 2016, 3:29pm UTC](https://boards.straightdope.com/t/for-a-seller-what-is-safest-form-of-check-payment-to-accept/767228/24 "2016-09-30T15:29:42Z")
Jumping on the dog pile. I have bought and sold a few used cars over the years – every transaction took place at the buyer’s bank and the seller left with cash. ---
**Author:** ![iamthewalrus\_3](https://avatars.discourse-cdn.com/v4/letter/i/258eb7/32.png) [@iamthewalrus\_3](https://boards.straightdope.com/u/iamthewalrus_3)\ **Post date:** [September 30, 2016, 5:08pm UTC](https://boards.straightdope.com/t/for-a-seller-what-is-safest-form-of-check-payment-to-accept/767228/25 "2016-09-30T17:08:32Z")
> [@LSLGuy](#): > > **Iamthewalrus(:3=** left out one step. After the teller hands you the shiny fresh cashiers check you endorse it, hand it back, and say “I’d like hundreds please.” > > After you walk out with greenbacks there’s no way the transaction can be rewound. Otherwise there is. > > I used to sell used cars out of my house. This was my SOP: Go to the buyer’s bank with the buyer and have him/her convert a check or withdrawal into greenbacks on the spot. I’d sign the transfer papers there in the bank lobby with the green in my pocket. Well, I left it out because OP specified “cash isn’t an option”. But it sounds like maybe OP just thought that cash wasn’t an option, when it actually is. But, yes, this is the procedure I used to buy and sell cars as well. Banks are used to this and they’ll give you a little table to sign the papers at. ---
**Author:** ![LynnM](https://avatars.discourse-cdn.com/v4/letter/l/b2d939/32.png) [@LynnM](https://boards.straightdope.com/u/LynnM)\ **Post date:** [September 30, 2016, 7:18pm UTC](https://boards.straightdope.com/t/for-a-seller-what-is-safest-form-of-check-payment-to-accept/767228/26 "2016-09-30T19:18:43Z")
**iamthewalrus(:3=**: **But it sounds like maybe OP just thought that cash wasn’t an option, when it actually is.** I’m the OP and this was indeed the case. My ignorance about banks, cash, buying and selling, has been fought and defeated. Thanks to all. The transaction will occur at the buyer’s bank; I’ll leave w/cash. [Previous page](https://boards.straightdope.com/t/for-a-seller-what-is-safest-form-of-check-payment-to-accept/767228.md?page=1)