> receiving especially a large check in exchange for something you're selling carries risk that you can't wholly mitigate.
I mean, if you accompany them to their bank, and have them issue a cashier's check, you're definitely getting paid unless the entire bank is insolvent, because you're not counting on the check clearinghouse to handle the whole matter - the bank is staking its own reputation on willingness to pay.
Which adds a ton of friction to the transaction. For that matter you can require them to pay you in cash.
My point is that, historically, personal checks were the default for a lot of person to person transactions in the US but they carried some risk--depending on the situation.
It does, but if you're selling a used car for $10k, it's well worth it. Unless we use the same bank, I'm not walking around with that much cash and triggering reporting requirements. And if we use the same bank, we'll just do a transfer within it.
I guess I'd just ask for them to bring a bank cashier's check under those circumstances and if I felt forgery was still too risky, I would just ask for cash.
I mean, if you accompany them to their bank, and have them issue a cashier's check, you're definitely getting paid unless the entire bank is insolvent, because you're not counting on the check clearinghouse to handle the whole matter - the bank is staking its own reputation on willingness to pay.