posted on October 5, 2000 09:30:02 AM
How many different types of money orders are there?? I've gotten some from weird sounding places,(eg Oklahoma Growers Association) are they cheaper than a regular USPS money order?
I didn't even know CVS sold money orders!
posted on October 5, 2000 09:44:55 AM
I can get money orders at tons of local stores. Rite Aid, CVS, K-Mart, Wal-Mart, Marc's Discount Drugs, gas stations, Dairy Marts, you name it, and you can probably buy a money order there.
posted on October 5, 2000 09:49:53 AM
There are many, many different types of money orders out there. They are also easy to forge--all you need are some blanks and a check-imprinter, which is why many grocery stores do not cash money orders even when they sell them. This is also why some sellers accept only USPS money orders.
posted on October 5, 2000 10:14:17 AM
Agreed. It seems that USPS Money Order are easier to cash..perhaps they are more difficult to "copy"? Don't know. But I have never had problems with Postal Money Orders, nor International, U.S. Funds Money orders.
Good luck.
******************** Shosh
posted on October 5, 2000 10:42:49 AM
tc61380 - Like posted there are many sellers of money orders. However its not the seller of the money order that should concern you. it is the backer of the money order that you should take notice of.
Many of the money orders grabbed at Grocery Stores, gas Stations, and quick marts are branded in their name but backed by Travelers Express and or American Express. Some other mone orders like the kind issued at check cashing places are backed by the bank where the check cashing place does business. In the terms of accepting them and getting them cashed. Postal Money oders are the easiest because everyone takes them and you can cash them at the Post Office for free.
Now banks treat money orders like checks subject to holds and the such. Most banks will hold a non-major instution backed money order like an out of state check if they are not in the state of the backer. They will treat the major players like Travelers Express, American Express, and the Post Office like cash or with a one day hold.
I have never had a problem cashing money orders or having them cashed when I buy on ebay. So instead of checking who is branded on the money order check who backs the money order. That's where the security of the money order lies.
posted on October 5, 2000 10:54:56 AM
A lot of the groups that were for local control and opposed to the federal government in the western states printed and used their own money orders and when they were taken to court the basic outcome was that the courts told them they must honor them and cash them out - not that they could noy print and use them. So be aware you might have a hard long drawn out problem taking a strange money order for a large amount.
posted on October 5, 2000 11:53:16 AM
On the same line, can someone tell me where I can get money orders (other than postal) cashed? Will the stores -- such as Kmart or Rite Aid cash their money orders or do you have to deposit them into the bank?
posted on October 5, 2000 01:27:00 PM
LINDAJEAN:
If you have a bank account, you should be able to cash them at the bank, providing you have adaquet funds.
posted on October 5, 2000 02:34:31 PM
lindjean - I am not 100% sure but places like major grocery stores who issue Travelers Express Money Orders are requried to cash them provided you have check cashing privledges with them. However not sure if the smaller mini marts who issue travelers express money orders are required to cash them. If you have a bank account, I highly recommend cashing them at the bank.
posted on October 5, 2000 02:49:46 PM
Thanks! I do have a bank account, but just wanted to start cashing the money orders on the way to the post office to pay the shipping charges. Most people pay with credit card so I don't have access right away to cover that.
