US check system. I'm so confused about the check system in the US.

Business & Finance
Price: $5 USD

Question description

Hi everyone,

I'm new to the US. I almost lost $1k to a scammer. I'm so confused about the whole US check system now. 

1. How to make sure the check is deposited? Call the bank? My friend told me that even the check is not "pending" anymore in your account, it doesn't mean that you get the money.

2. I've heard that there is a way you can cancel the payment in a week EVEN after your check has been deposited. (The person saves your check into the ATM)

3. If so, Why there are still shops like CVS/Walmart that are willing to accept check as a payment??????(Not over the counter, but there are some kind of automatically check out machine that accept check.. I didn't try it tho).

Please explain thoroughly about the whole check system and maybe some tips about how to use checks and how to protect myself from the scammers?

Thank you!

Tutor Answer

(Top Tutor) Daniel C.
School: UC Berkeley
Studypool has helped 1,244,100 students
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1825 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors