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paying at auction
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Posted by Coloken on May 24, 2007 at 19:07:42 from (216.17.255.106):
Gota question that concerns tractors and other items at auction sales. It has all ways been "good and proper check or some thing like that. Now with the new computers I see this on an auction listing. Quote: If paying by personal check, most checks will be processed via electronic check conversion (ECC) and converted to a paper draft at the close of the auction. Your account will be debited for the amount of the transaction. In the event that your draft/ECC is returned unpaid or insufficient funds (NSF), a fee of $25.00 will be charged to your account via draft/electronic funds transfer (EFT). We highly suggest you make sure funds are available at time of writing your check to avoid any NSF fees. So I go to auction on Saturday and surprise myself by buying a 10 or 15 Thousand dollar tractor---Do I have to go to the bank the day befor and move money out of my interest drawing account to my checking "just in case" I buy something? Normlly I would just go in the next day and cover it. Guess nothing is like it usta be.
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