How do you know if a check is fraud and is there any way to protect yourself?

Question

I won some money and received a check for $4,558 dollars, I want to know if the check is fraud or not...I am not spending any money untill it clears if it does, if it clears am I safe or have something to worry about. I was doing research online and it says you can put a lock on the check untill it clears, what should I do? I don't want to spend any money and have to pay it out of my pocket, what do you do in a situation like this? Thanks serious answers only!

Answer 1

you are going about this the correct way if you have doubts on the check..

an authentic check has "water marks" and security features on it....that show the check is a true document...

however that just shows the check is good...no guaratee that the funds are there...

continue as you are going...the check will clear or bounce in 10 days or less......by the way which is the mandatory hold on business checks over $10,000.

once the check clears you are in good shape, and if it were to become a problem, you can demonstrate-by your actions- that you took all practical safeguards before you spent any of the proceeds..

good luck to ya hope the check is valid!!!

Answer 2

How did you "win" the money? Did you enter a contest and win a prize, or did you get a 'come-on' from them out of the blue?

If the latter it is CERTAINLY a fraud. Does the company want you to send them money out of your winnings? Again, if so, it's certainly a fraud.

On the check it will show the bank that the check is drawn on. You can take it to that bank - not your own bank - and try to cash it. If that bank doesn't have branches near you, then you can deposit into your own bank, and just keep a CAREFULL watch on your balance to make sure you don't dip into it for *at least* two weeks. Then, if it is a fraud and it bounces all you will be out is the bounce fee of $15 or $20.

Richard

Answer 3

its very har di wqork at a liqour store and cash checks u cant tell weather their good or bad.

one main thing is if its hand written those are always a little more riskier but if its computerized those are a little safer.

Answer 4

Have the check certified.

Answer 5

How did you win the money and what company is it from??

check this out..sounds like someone else has a problem like yours

http://answers.yahoo.com/question/index?...

I would not cash it. Chances are it's fake.

Answer 6

If possible cash the check at the bank it was drawn upon.  If you deposit it into your account and it bounces YOU will have to pay the fees associated with it.