SESKStuff Everyone Should Know
SESK: Stuff Everyone Should Know · sesk.info/fake-check-scam

A stranger sends you a check and asks you to send part of the money back. Your bank lets you spend it the next day. What does that mean?

Money showing up in your account does not mean the check is real, and if it bounces, you pay.

  1. The check cleared, so it's real
  2. Nothing yet. It can turn out fake weeks later, and you'd owe the bank ✔
  3. The bank will cover the loss if the check turns out fake

Why: By law, banks must make deposited money available quickly, before they know if a check is real. A fake check can take weeks to be discovered, and then you have to pay the bank back, including any money you already sent. Never send money back to someone who overpaid you with a check.

Huh, didn't know that: Never send money back to someone who overpaid you with a check.

The dad joke
How do dinosaurs pay their bills? With Tyrannosaurus checks.
Like this card?
Play the game

Sources

  1. FTC: How To Spot, Avoid, and Report Fake Check Scams https://consumer.ftc.gov/articles/how-spot-avoid-and-report-fake-check-scams
MoneyWhat happens to your credit score when you check it yourself?MoneyWhat is U.S. paper money mostly made of?MoneyA caller says they're from the IRS and you owe taxes. How does the real IRS normally contact you first?

That's stuff everyone should know.