dlandau69
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posted on October 8, 2001 04:19:16 PM
I've become somewhat of an expert on this, not by choice. 
First, if the money order says "US$" or "US Dollars" on it, then your post office is REQUIRED to cash it. The only exceptions I've heard is the semi-private post offices in some rural areas, where they're not a "real" post office.
Second, banks do NOT want to cash Canadian postal money orders, because they are not on the same system. As a result, most US banks charge an (often outrageous) fee to do so.
Third, for money orders and checks from Canadian banks, assuming they're in US$, there's no extra charge when you deposit them in a U.S. bank so long as there's a US ADDRESS somewhere on the check. This means that the bank is running their funds through a US branch. This in turn means that the check will be processed through the US ACH (automated clearinghouse) system, which is THE clearing system for US banks. Even if a check is in US$, if it's not through the US branch, the check has to be processed OUTSIDE the ACH system, which is what triggers the humongous fees.
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susan1232
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posted on October 8, 2001 05:51:14 PM
It does say US $ before the amount. Thanks EG, I didn't even know where to look for it. Geez, I must sound like such an idiot.
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ExecutiveGirl
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posted on October 8, 2001 05:57:58 PM
I had one that my credit union sent back to me and deducted from my bank account. I went back the next day when I received it in the mail and they were somehow able to send it back through and they did not charge me any fees for it. I deposit them all the time - and there was just that one that came back, but my bank was able to get it to go through. I had also talked to my post office clerks and they had told me that if it hadn't gone through the 2nd time around, to bring it to them and they would have cashed it for me.
Edited to add: Susan, you don't sound like an idiot. I think the first time I saw one I was suspicious of it not being in US funds too!
[ edited by ExecutiveGirl on Oct 8, 2001 06:00 PM ]
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robnzak
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posted on October 8, 2001 08:25:03 PM
"...I must sound like such an idiot..."
Nope, not at all, it's how we ALL learn.
Rob
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susan1232
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posted on October 9, 2001 06:36:29 AM
Success! I just got off the phone with my bank. They said I should not have received the form letter I did. They will deposit the MO-it will just take a little while for the money to be credited to my account. She also said I should not have been charged the return fee and they will refund that.
Had it not been for the great help I received here, I wouldn't have known how to handle this. Thank you so much for the help! Thanks also for telling me I'm not an idiot.
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bnutt
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posted on October 9, 2001 08:36:34 PM
I have somewhathad to deal with the same situation.
I had an auction end 10 days ago. Winner did not respond to my emails at all. I even sent them a reminder from ebay. Lo and behold on the 9th day payment shows up via monay order from CANADA.
I have stated in my emails that I ship to US only. It is easier for ME that way and I can quote shipping very easily.
In their note they made ot look as if I had replied to a response from them with the shipping charges to Canada. I had never received their email and never quoted a chipping charge. They tacked on an extra 5.00 to their payment and us ship charges which luckily covered the shipping.I not wanting to risk a neg shipped their item but not BEFORE seeing if my bank would have a problem with their m.o.
Everything worked out and I made an exception this time but, I wonder if people read at all sometimes.
Bonnie
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dixiebee
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posted on October 10, 2001 12:24:35 PM
I have been accepting these money orders for years and only had trouble once. After I took it back to the bank and educated the staff, I have had no problems ever since -- even with a money order from a Middle Eastern country. That branch of the bank was closed during the summer and my account was moved to another branch 20 miles away in the next town. Today I was checking my bank electronically and notice that I have had a $48 deposited item returned. I have checked my records and know it is a Canadian Postal Money Order that is on the way back to me. I guess I get to give this new branch an education.
Do you ever get tired of training banks and post offices?
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commentary
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posted on October 10, 2001 12:46:35 PM
One should never deposit foreign postal money order without first checking if cashable at the post office. There is no fee, delay or problems to cashing at the P.O.
Depositing it will just casuse headaches and lost time to fix a problem. You never know how the next bank employee handles the foreign P.O.
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ExecutiveGirl
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posted on October 10, 2001 12:52:06 PM
One should never deposit foreign postal money order without first checking if cashable at the post office.
I would have to disagree. I *always* deposit them at my bank. Only had a problem once, and I deposit one of them about once a week. It makes no sense to me to cash it at the PO. The PO is for mailing packages, IMO, not to do my banking.
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Eventer
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posted on October 10, 2001 12:57:53 PM
I *always* deposit them at my bank.
That's lovely for you but there are banks and credit unions that won't take them w/o charging more than the darn things are worth.
My credit union won't take them & I just happened to ask before I deposited it & got hit w/a $25 "processing" fee.
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ExecutiveGirl
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posted on October 10, 2001 01:13:53 PM
That's lovely for you
Right. And I wasn't referring to anyone but myself. I was simply stating that *I* prefer to deposit them at my bank (which happens to be a credit union also), instead of cashing them at the PO.
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DMRick
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posted on October 10, 2001 03:28:00 PM
Does anyone know if the post office wil cash a MO in US funds, if it's made out to your DBA (Doing Business As)? I have to have a certificate on file at the bank and credit union when I opened the accounts, and the accoutns had to be in my DBA name, which is different from my actual name.
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commentary
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posted on October 10, 2001 05:35:15 PM
EG - I think I see your point. You perfer to deposit the foreign MO, risk having a return item, spend time correcting it with the bank than simply cashing it at the P.O. Makes a lot of business sense.
I guess if there is a problem with the deposit, you can start a thread whining about how dumb your bank is. In case you run out of the stupid buyer or seller threads, you have something to gripe about.
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commentary
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posted on October 10, 2001 05:37:43 PM
DMRick - Post office will cash it if you can prove you have signing authority and proper ID. You might want to check what is acceptable for ID. It may require some articles of incorporation showing you are the owner.
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ExecutiveGirl
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posted on October 10, 2001 05:50:46 PM
Commentary: What is your problem?? I have been depositing these int'l MO's for 4 years, and only had a problem ONCE. My bank assured me those MO's were fine.
Knowing that, why WOULDN'T I deposit them at my bank? I have not wasted *any* time depositing them at my bank. Are you familiar with my daily schedules? I didn't think so.
As far as your rude comments regarding my posts - I will leave that to the moderators.
[ edited by ExecutiveGirl on Oct 10, 2001 05:55 PM ]
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commentary
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posted on October 10, 2001 05:57:20 PM
EG - no problem at all.
Not sure where I was rude to you. I think all I did was summarize what your position is.
I'm sorry - but it seems that the only threads I read which you initiate are all about silly sellers or buyers. Did I miss somthing there?
Oh yeah, I forgot, you did start a thread on the A4A auction counts. Guess I missed one there.
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pattaylor
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posted on October 10, 2001 05:59:27 PM
commentary,
Your posts to ExecutiveGirl are rude, and violate the Community Guideline requirement that you treat your fellow AW members with respect and consideration. Please do not post in like manner again.
Pat
[email protected]
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wbdareme
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posted on October 10, 2001 06:51:35 PM
I guess I've been very lucky-I'm really surprised at some of the problems others have had with Canadians and Canadian funds. Every Canadian buyer I've had (probably around 100)has always asked how much to Canada. Plus my credit union has no problems cashing anything from Canada including personal checks in Canadian funds from Canadian banks.
As to the original post, lesson learned.  I would neg her, though.
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ExecutiveGirl
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posted on October 10, 2001 07:11:25 PM
Hi wbdarene: Just curious, why would you neg the buyer? She did pay with a US money order. The problem was with Susan's bank, but it was taken care of. The money order was fine.
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wbdareme
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posted on October 10, 2001 08:14:38 PM
ExecutiveGrirl: "Hi wbdarene: Just curious, why would you neg the buyer? She did pay with a US money order. The problem was with Susan's bank, but it was taken care of. The money order was fine. "
I thought she'd paid the US$ amount in Canadian $s until I read further! Sorry.
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