CANADIANS: Questions about checks (cheques?) :) UPDATE: They paid cash! :)

I'm selling my dorm fridge tonight to some people whose daughter is moving into the dorms here at UM. They're from Toronto. We didn't agree on a form of payment, only on an amount.

My question is this: if they give me a check, how can I tell if it's in Canadian funds? I don't want them to hand me a check for $70, and go to the bank only to find out it's $70 CAD. Is there a notation somewhere that lets me know what currency the check is written for? I just don't want to get inadvertently scammed.

Hopefully they'll pay in cash.

<-- AND THEY DID! CASH MONEY! 🙂

 

[Pepsi90919]

the financial institution on the cheque is in canada then...

 

Originally posted by: Pepsi90919
the financial institution on the cheque is in canada then...

So if the bank on the check is located in Canada, then it's automatically Canadian funds? Damn, I should have asked for cash or a USPS money order.

 

[Pepsi90919]

Originally posted by: jumpr

Originally posted by: Pepsi90919
the financial institution on the cheque is in canada then...

So if the bank on the check is located in Canada, then it's automatically Canadian funds? Damn, I should have asked for cash or a USPS money order.

from my experience yes. my cheques say nothing about being in canadian funds.

tell them to go to any postal outlet and get a postal money order drawn in US$. it costs like 2 bucks.

 

Originally posted by: Pepsi90919

Originally posted by: jumpr

Originally posted by: Pepsi90919
the financial institution on the cheque is in canada then...

So if the bank on the check is located in Canada, then it's automatically Canadian funds? Damn, I should have asked for cash or a USPS money order.

from my experience yes. my cheques say nothing about being in canadian funds.

tell them to go to any postal outlet and get a postal money order drawn in US$. it costs like 2 bucks.

Actually it's only $0.90 for amounts up to $500 I think.

 

[BCYL]

I would never accept personal cheques for a private sale... Their cheque can easily bounce and you are left with nothing...

Make them pay in cash...

 

[Pepsi90919]

Originally posted by: jumpr

Originally posted by: Pepsi90919

Originally posted by: jumpr

Originally posted by: Pepsi90919
the financial institution on the cheque is in canada then...

So if the bank on the check is located in Canada, then it's automatically Canadian funds? Damn, I should have asked for cash or a USPS money order.

from my experience yes. my cheques say nothing about being in canadian funds.

tell them to go to any postal outlet and get a postal money order drawn in US$. it costs like 2 bucks.

Actually it's only $0.90 for amounts up to $500 I think.

i'm not talking in US$.

 

Either I make them get a $ order, or I'll make them pay me $91.25 Canadian, due to the exchange rate

 

Originally posted by: Pepsi90919

Originally posted by: jumpr

Originally posted by: Pepsi90919

Originally posted by: jumpr

Originally posted by: Pepsi90919
the financial institution on the cheque is in canada then...

So if the bank on the check is located in Canada, then it's automatically Canadian funds? Damn, I should have asked for cash or a USPS money order.

from my experience yes. my cheques say nothing about being in canadian funds.

tell them to go to any postal outlet and get a postal money order drawn in US$. it costs like 2 bucks.

Actually it's only $0.90 for amounts up to $500 I think.

i'm not talking in US$.

They're already here...they drove in a couple days ago, and they looked at the fridge last night. They're going to pick it up today.

 

[Pepsi90919]

$98.2892

 

Originally posted by: Pepsi90919
$98.2892

Where'd you get that figure?

 

[Pepsi90919]

Originally posted by: jumpr

Originally posted by: Pepsi90919
$98.2892

Where'd you get that figure?

Text

 

They paid cash.

 

[sandorski]

re: original question

Unless otherwise noted, a cheque from a Canadian Bank would be in Canadian $. However, the writer of the cheque can make a note on their cheque stating it is US $ and the bank will pay in US$.

 

[Thegonagle]

Originally posted by: BCYL
I would never accept personal cheques for a private sale... Their cheque can easily bounce and you are left with nothing...

Make them pay in cash...

Abso-fvcking-lutely! It's only $70. That's not too much to ask. That's nothing, really. They can get that amount from the ATM down the street. In fact, any amount of cash that a bank teller would give you from your account (I'm sure that would be several thousand dollars, if not tens of thousands) is not too much to ask for, IMO.

I'm glad that they did pay you cash without you having to ask, but you should know that you should always ask for cash or cashier?s check. Legit buyers (experienced ones, at any rate) will always expect that.