Posted by: The Thamelean August 3, 2020
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"You deposit the check, it clears in the beginning."
Sorry for the misunderstanding, Nas sir. My interpretation is that the check shows money deposited in the account but in a 'transaction pending' status. This happens when the check is from a different bank, so it takes a few days to clear. Uncaring sellers regard this deposit as money received and send the extra money back to the fake buyer. The fake buyer usually asks you to send the money back by pre-loaded cash card or Western Union. Later, the bank notifies you that the check has bounced and your account has been debited. On top of that, there is an additional fine from the bank.
Here is how the scammers prey on unsuspecting online sellers:
https://www.scamwatch.gov.au/types-of-scams/buying-or-selling/overpayment-scams
Sorry for the misunderstanding, Nas sir. My interpretation is that the check shows money deposited in the account but in a 'transaction pending' status. This happens when the check is from a different bank, so it takes a few days to clear. Uncaring sellers regard this deposit as money received and send the extra money back to the fake buyer. The fake buyer usually asks you to send the money back by pre-loaded cash card or Western Union. Later, the bank notifies you that the check has bounced and your account has been debited. On top of that, there is an additional fine from the bank.
Here is how the scammers prey on unsuspecting online sellers:
https://www.scamwatch.gov.au/types-of-scams/buying-or-selling/overpayment-scams