cybercricket
Well-known member
Once again, this is incorrect. Cashier's Check is guaranteed by the issuing bank and comes with a well-known, reliable verification process. Most importantly, it is the bank that backs the check and not the payee - funds are taken from the payee and held by the bank the moment Cashier's Check is issued, so once confirmed as valid it can't bounce as long as it's a well-known bank that issued it.Cashiers check = easy to falsify and have a bogus piece of paper which appears to be a valid check. I am ***NOT*** saying this is what OP is doing; rather, I am saying this is why a seller might refuse such a check.
When I purchased my Model Y 9/1/2023 (Friday) at the Aurora, CO service center, I took the vehicle before making final payment. However, a FedEx tracking number from the lender was uploaded (by me) to my Tesla account. I brought in the actual check Tuesday 9/5/2023.
OP: what is preventing you from wire transfer? A wire is pretty much ONE business day or less, for domestic transfers.
Now for comparison, EFT, which Tesla gladly accepts, is more alike to a Personal Check. If I'm not mistaken, it was even called "electronic check" in the past. While a valid bank account number is required to initiate an EFT, the receiving institution doesn't get those funds cleared for two business days, yet Tesla will release the vehicle as soon as EFT is initiated. EFT can then bounce just like a Personal Check would if there are insufficient funds in the account.
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