UPS/Cashier's check question

[TexasBred]

A cashiers check is much different than a normal personal or business check. My small locally owned bank said that as long as they can remember (my banker/friend has been there 30 years) you haven't been able to cancel a cashiers check before 90 days.

Many people pay for the down payment on their homes, land, trucks, etc with a cashiers check. The sellers always accept them because they are as good as cash. If the bank was able to willy nilly cancel them on a whim then nobody would accept them.

Chevy I think we all know what one is and how they are used just as in the example you gave. And yes to "willy nilly" cancel one would be someone unusual but a stop payment simply gives the bank and the person that paid for it a small window of time to examine things. It could still be paid IF presented by the proper person for payment. Stopping payment on one for a very legitimate reason is NOT illegal nor unusual under the right circumstances.

 

[fenceman]

A cashiers check is much different than a normal personal or business check. My small locally owned bank said that as long as they can remember (my banker/friend has been there 30 years) you haven't been able to cancel a cashiers check before 90 days.

Many people pay for the down payment on their homes, land, trucks, etc with a cashiers check. The sellers always accept them because they are as good as cash. If the bank was able to willy nilly cancel them on a whim then nobody would accept them.

Chevy I think we all know what one is and how they are used just as in the example you gave. And yes to "willy nilly" cancel one would be someone unusual but a stop payment simply gives the bank and the person that paid for it a small window of time to examine things. It could still be paid IF presented by the proper person for payment. Stopping payment on one for a very legitimate reason is NOT illegal nor unusual under the right circumstances.

This discussion is certainly above my pay grade. But I have a hard time believing there is no type of stop loss. For a lost or stolen cashiers check. If there wasn't, what would be the use.?

 

[TexasBred]

This discussion is certainly above my pay grade. But I have a hard time believing there is no type of stop loss. For a lost or stolen cashiers check. If there wasn't, what would be the use.?

Thsi bank if forgetting who purchased the cashiers check and whose money they used and who they represent....They have a fiduciary responsibility to their customer. The guy the check was made payable to would probably b e tickled to death if they would stop payment on it and issue another one...I'm sure he wants his money too.

 

[SJB]

You might be able to get it cancelled with a notarized affidavit from the payee if you can deal with somebody at the bank that has enough sense to understand what's going on, and wants to help.

 

[hillbillyhammer]

Stocky, I guess by now the logging contract has gone to somebody else?

 

[stocky]

Yes, that contract is gone. My friend went to Oregon to visit his son and family the last 9 days. While there, he and his son went to a UPS main office and had no luck there, either. He keeps having people tell him to get a lawyer. I passed on the advice to contact the Missouri Attorney Generals office and he will do that tomorrow. The UPS has told him the case is closed, the letter is lost and they have reimbursed his 36 dollars and will reimburse any fee he has to pay to get the cashier's check reissued after 90 days. They say they are finished with it and have fulfilled their legal liability. That is the latest update.

 

[wacocowboy]

I would be looking into a lawyer to go after UPS for the profits from the logging contract.

 

[hillbillyhammer]

I would be looking into a lawyer to go after UPS for the profits from the logging contract.

X2

 

[CottageFarm]

No offense, Waco, but that probably won't go anywhere. UPS probably has a clause regarding lost potential income/revenue and any other unverifiable or intangible losses.
His only real options now are to try and get the bank to cancel the check to release the funds before the 90 days, or wait out the 90 days.
Maybe the bank would be willing to extend a short term line of credit in case he needs the cash for something before the waiting period is up?? Just a thought....

Stocky, I'm real sorry for your friend. He must be so frustrated and angry, and probably beating up on himself a bit, too. Just keep reminding him, hindsight is 20/20, and there's not much point in dwelling.

You can tell him that UPS has probably lost some business over this. I've always preferred FedEx, anyway, but their treatment of your friend clinches it for me. I might not be the only one here who feels that way, and I do quite a bit of shipping.

 

[GMN]

go to ups online and contact customer service about the tracking number there fill out a email and send it to them, i have done this with missing packages with usps and it works within a day or 2 the tracking number shows that it has been delivered. Not sure how UPS works but maybe someone lost the envelope in a machine or it was misplaced and just needs to be found

 

[stocky]

Thanks for your helpful replies, everyone. About 2 months ago, the UPS said they have declared it officially lost, paid my friend back his 39 dollars overnight shipping fee and said they have no more liability and to them it is a closed case. They said the last place it was tracked to was Louisville, Ky and it is lost there. Friday, the bank said the check still has not been cashed, so no one has stolen it and cashed it. The bank refused to loan my friend 500 dollars for some expenses while he is waiting on his 7,000 dollars. August 7 will be the 91st day and that is when he will be eligible to fill out the forms for his money. They told him they will be giving him a check for the 7,000 when it is time to pay him. He told them he gave them seventy 100 dollar bills and he will take nothing less than the cash he gave them, no more checks from them. So, they are already in another argument. The whole thing has been a shame and a disaster and he and his son lost the good logging contract in Oregon where his son lives. Thanks again for the thoughts and suggestions. I will update if there is more drama in receiving his money.