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<p>[QUOTE=&quot;fatima, post: 1262218, member: 22143&quot;]<b>Doesn&#039;t pass the smell test</b></p><p><br /></p><p>Why didn&#039;t that dealer wire the money to the woman&#039;s account?</p><p><br /></p><p>If you walk into any Federal Reserve bank or credit union with a 3rd party check for $675,000 you can absolutely count on the following:</p><ol> <li>They will not hand you $675,000 in cash unless you already have an existing extraordinary relationship with the bank.&nbsp; By extraordinary I mean you are on their &quot;best customers send the limo&quot; list.</li> <li>They will absolutely accept the $675,000 check for deposit.&nbsp; Once the funds are transferred from the other bank and the federal hold requirement is released, you can withdraw the money.&nbsp; All of it if you like.</li> <li>Legally, the woman&#039;s remedy is with the party who wrote the 3rd party check, not the bank.&nbsp; Banks are not required to cash 3rd party checks of high or questionable value.&nbsp;&nbsp; It&#039;s the dealer&#039;s responsibility to solve which, BTW he takes no responsibility for.&nbsp; &nbsp; </li> <li>If the 3rd party had simply wired the money to the old woman&#039;s account, all of these issues could have been avoided.&nbsp; It cost $25 do do a wire.&nbsp; I&#039;m willing to bet that someone who can buy $675,000 worth of gold gets free wires.&nbsp;&nbsp; If he is a legitimate high end coin dealer he would know this.&nbsp; How many coin dealers require wire transfers?&nbsp; If he is so concerned about this woman, why didn&#039;t he do this?</li> <li></li> </ol><p>This fable does not give any relevant information where one can make any determination about all items above.&nbsp; I do think however that anyone receiving $675,000 from a gold sale should have asked for a bank wire to their account or at least some other certified funds.&nbsp;&nbsp; If you sell gold to APMEX for example, they will be glad to wire the funds to your bank once they have the gold.&nbsp;&nbsp; Any bank would be happy to receive these funds as a deposit because they will make interest off of it.&nbsp;&nbsp; </p><p><br /></p><p>The fable this guy puts forth doesn&#039;t pass the smell test at all.&nbsp;&nbsp; Modern banks don&#039;t operate the way he describes and/or he is leaving out a lot of relevant information.&nbsp;&nbsp; IMO, stay away from doing business from this sort of outfit.[/QUOTE]</p><p><br /></p>

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