Any Australians here that know how the banking system works ? - GoFuckYourself.com

halfpint · 04-05-2010, 03:22 AM

Hi I am just trying to find out how the Australian banking system works.

If I sell something to somebody from Australia, And they want to pay by check, Is it true that they have to have the money in their bank accounts before a cheque is issued so this means that the check cannot bounce or be flagged as fraud at a later date.

Cheers

georgeyw · 04-05-2010, 03:55 AM

nope total bullshit

georgeyw · 04-05-2010, 03:56 AM

unless of course they give you a bank cheque

Calico Jack · 04-05-2010, 03:56 AM

Bank cheque, yes. You pay the cash (or have it in your account which the bank draws from) and the bank issues the cheque. A bank cheque is as good as cash.
Personal cheque, as anywhere, there's nothing stopping you writing a cheque for $1,000,000 even if you don't have the funds.

halfpint · 04-05-2010, 04:02 AM

Ok thanks guys. It works the same as over here in the UK, so the guy is talking bullshit as he said it would be a Personal cheque

Cheers

paymeback · 04-05-2010, 04:02 AM

For a bank cheque they need to have the money in the account and the cheque is issued from the bank, for a regular check its issued by the person so they dont, However i believe a australian bank cheque can only be deposited into another Australian bank account but im not 100% sure. Wire transfer would be a better option imo.

halfpint · 04-05-2010, 04:07 AM

Quote:

Originally Posted by paymeback

For a bank cheque they need to have the money in the account and the cheque is issued from the bank, for a regular check its issued by the person so they dont, However i believe a australian bank cheque can only be deposited into another Australian bank account but im not 100% sure. Wire transfer would be a better option imo.

Cheers

georgeyw · 04-05-2010, 04:08 AM

Quote:

Originally Posted by halfpint

Ok thanks guys. It works the same as over here in the UK, so the guy is talking bullshit as he said it would be a Personal cheque

Cheers

Yup tell him to shove the cheque right up his clacker!

Agent 488 · 04-05-2010, 04:14 AM

getting played again ....

halfpint · 04-05-2010, 04:20 AM

Quote:

Originally Posted by Agent 488

getting played again ....

so many scammers online... I always check when I think something is not right before doing any transactions with people

Zorgman · 04-05-2010, 04:39 AM

I use to get checks from the USA and they take 4 weeks to clear. Some reason they have to send the check back to the USA then have the check sent back again. BS way but makes it fraud proof. However, I have had a couple of checks bounce and then the bank changers me $35 which is even more BS.

georgeyw · 04-05-2010, 04:45 AM

Quote:

Originally Posted by Zorgman

I use to get checks from the USA and they take 4 weeks to clear. Some reason they have to send the check back to the USA then have the check sent back again. BS way but makes it fraud proof. However, I have had a couple of checks bounce and then the bank changers me $35 which is even more BS.

This is one thing i've never understood. If I deposit a cheque that bounces - why is it me who pays? It's the payee that is in the wrong.

04-05-2010, 03:22 AM	#1
halfpint GFY's Halfpint Industry Role: Join Date: Jun 2007 Location: UK Posts: 15,223	Any Australians here that know how the banking system works ? Hi I am just trying to find out how the Australian banking system works. If I sell something to somebody from Australia, And they want to pay by check, Is it true that they have to have the money in their bank accounts before a cheque is issued so this means that the check cannot bounce or be flagged as fraud at a later date. Cheers __________________ Get FREE website listings on Cryptocoinshops.net Last edited by halfpint; 04-05-2010 at 03:27 AM..

04-05-2010, 03:56 AM	#4
Calico Jack Confirmed User Join Date: Jul 2004 Posts: 2,051	Bank cheque, yes. You pay the cash (or have it in your account which the bank draws from) and the bank issues the cheque. A bank cheque is as good as cash. Personal cheque, as anywhere, there's nothing stopping you writing a cheque for $1,000,000 even if you don't have the funds. __________________ Got Foot Fetish Traffic? These sites will make you $$$... Footsie Babes - Hot Legs & Feet - Kink's Foot Worship - Black Meat White Feet NAKED HOSTING (Certified Hosting)...Adult Web Hosting at its FINEST! Signup Here!

04-05-2010, 04:02 AM	#5
halfpint GFY's Halfpint Industry Role: Join Date: Jun 2007 Location: UK Posts: 15,223	Ok thanks guys. It works the same as over here in the UK, so the guy is talking bullshit as he said it would be a Personal cheque Cheers __________________ Get FREE website listings on Cryptocoinshops.net

04-05-2010, 04:02 AM	#6
paymeback Confirmed User Join Date: May 2005 Location: Sydney, Australia Posts: 1,478	For a bank cheque they need to have the money in the account and the cheque is issued from the bank, for a regular check its issued by the person so they dont, However i believe a australian bank cheque can only be deposited into another Australian bank account but im not 100% sure. Wire transfer would be a better option imo. __________________ ICQ:36-43-49-11

04-05-2010, 04:39 AM	#11
Zorgman Confirmed User Join Date: Aug 2002 Location: Sydney, Australia Posts: 6,103	I use to get checks from the USA and they take 4 weeks to clear. Some reason they have to send the check back to the USA then have the check sent back again. BS way but makes it fraud proof. However, I have had a couple of checks bounce and then the bank changers me $35 which is even more BS. __________________ ---

04-05-2010, 03:55 AM	#2
georgeyw 58008 53773 Industry Role: Join Date: Jul 2005 Location: Australia Posts: 9,864	nope total bullshit

04-05-2010, 04:14 AM	#9
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	getting played again ....