ExecutiveGirl
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posted on November 21, 2000 08:37:24 AM
I have a problem. I have received and deposited SEVERAL Canadian postal money orders before with no problems whatsoever.
I received a money order that was drawn on 10/28. I immediately deposited it to my bank account. Today I received it back in the mail with a note saying:
"Please be advised that the check deposited to your accound did not clear the bank it was drawn on. The deposit was deducted from your checking account."
Since when is postal MO's not any good? My bank's stamps are all over the front and back of it, so it's probably not good anywhere else, right?
I don't understand this - I've never had a problem before. The item was also already shipped a long time ago and I'm sure he has received it. I have just emailed him about this and I'm hoping he can shed some light. I don't know what to do! I've never had a "bad" money order before!
Any suggestions would be appreciated!
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celebrityskin
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posted on November 21, 2000 08:40:33 AM
I have NEVER heard of a money order bouncing before. Is it possible? Did they mix it up with another check?
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cdnbooks
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posted on November 21, 2000 08:43:58 AM
It does come as a surprise that 'stop payments' can, with varying degrees of difficultly, be put on most money orders (including, or perhaps especially, ones issued in the US).
In all likelyhood there has been a computer hiccup somewhere. Canadian postal money orders do not conform to the US Federal Reseve coding system for checks. That's one reason why it is better to cash them at a post office.
Besides contacting your customer (who is likely as surprised as you are) I'd also talk to your bank and try to determine if there was a true 'stop-payment'or whether it was returned because of a coding error.
But, chances are, this will end OK
Bill
edited to correct factual error
[ edited by cdnbooks on Nov 21, 2000 09:42 AM ]
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ExecutiveGirl
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posted on November 21, 2000 08:44:51 AM
I've never heard of this either - especially with a POSTAL money order. But the information on the paperwork my bank sent me matches the MO they returned to me - so I'm sure this is what it is for.
I just don't know what to do.
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chris97
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posted on November 21, 2000 08:46:06 AM
Personally I think your bank made a mistake and would take it back to them. If this is a money order purchased from Canada Post there is no way it could bounce as these funds are guarenteed and Canadapost is posting (pardon the pun) huge profits year after year so they are in no financial problems.
If this was a money order purchased from a bank it should be guarenteed as well (unless it's from some no-name bank which I doubt). If you don't mind me asking who was the money order purchased from?
I think you should raise hell with your bank and frankly ask the question "How in the $%@% can a money order bounce?"
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cdnbooks
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posted on November 21, 2000 08:50:55 AM
Canadian postal MO can't 'bounce' but they can be reported lost or stolen. Bill
typo
edited to correct factual error
[ edited by cdnbooks on Nov 21, 2000 08:51 AM ]
[ edited by cdnbooks on Nov 21, 2000 09:43 AM ]
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unknown
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posted on November 21, 2000 08:54:01 AM
Happens all the item, but it is a bank error.
The problem is that the MICR coding on the bottom of those Canadian money orders does not comply with US standards. Consequently if the bank just puts it in with a stack of regular checks the computer will kick it out.
Seems to happed to me about 20% of the time. Even when I instruct the tellar that it must be handled sperately.
I take them to a US post office now.
But don't be fooled about money orders. The can bounce just like checks. There is an old thread on here about bouncing Bid Pay money orders.
There is an 800 number on the back of the Canadian money order that you can all to see if it is good.
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ExecutiveGirl
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posted on November 21, 2000 08:55:40 AM
I never knew you could stop payment on a money order. I thought the funds were guaranteed? That's the reason so many don't take checks and feel MO's are so much safer. I never heard back from the customer so I doubt he stopped payment on it. He would have no reason to. I will bring this to my bank and find out what's going on.
Also, does anyone know if I could cash a canadian postal MO at my post office? I thought I heard that once.
Chris97: The money order was purchased from Canada Post / Postal Money Order.
Also, are there supposed to be watermarks on these MO's? Because there are none on this MO, and the numbers in the bottom right hand corner are all faded. Geez, I hope this isn't just a fake copy.
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cdnbooks
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posted on November 21, 2000 09:02:45 AM
Yes. You should be able to cash a US$ denominated Canadian postal MO at any US post office. (But there may be one or two where it's a new experience for them  )
Bill
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ExecutiveGirl
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posted on November 21, 2000 09:04:16 AM
unknown:
Thanks for letting me know about the 1-800 on the MO.
I just called it, and they said that all Canadian Postal MO's have to be cashed at a post office. And they have some kind of agreement with the PO where all fees are waived. If I was to cash it at a bank it would cost between $15 - $25 to cash it. (ouch!)
Now, my bank stamps are all over it, so he said I cannot cash it at the PO now, since it can't be processed twice. I have to mail it back to Canada Post, with a note saying what happened and they will reissue me a new MO which I can bring to the Post office to cash. They said that takes a few weeks.
So now I have to go through all that. Ugghhh.
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cdnbooks
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posted on November 21, 2000 09:07:09 AM
I'd still try your post office, a friendly postmaster might just take it. Doesn't hurt to try.
Bill
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chris97
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posted on November 21, 2000 09:11:01 AM
Agreed - you should be able to cash it at any US postal outlet (I cash US money orders at my postal outlet up here in Canada all the time).
Just in case you don't want any confused postal clerks wondering how to cash it you might want to take it to main outlet where they probably have guys behind the counter for years and have seen that kind of stuff.
As for the stop payment on the money order you should ask the bank if it bounced or a stop payment was put on it. You might call the 1-800 number on the back to see if it was stopped.
I think for this money order you will have to get it straightened out with the bank - for future ones take them to the post office.
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ExecutiveGirl
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posted on November 21, 2000 09:12:42 AM
I will try that. I will bring it to my bank first, asking "what's up" (since I've cashed these before with no problems). And if they can't do anything I'll try my post office. I'm there every day anyways so maybe they'll do me the favor and cash it. If all else fails I'll mail it back and get a new one.
Wondering if I should now say international bids must be paid with Billpoint or Bidpay? I don't want to go through this again....
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reddeer
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posted on November 21, 2000 09:14:45 AM
Canadian Postal MO's, along with USPS MO's, cannot have a Stop Payment put on them. The only way the sender can get their $$$ returned is if they return to the PO with the MO in hand, or if it gets lost & after 30 days they file with the PO.
"Most" other MO's can indeed have a Stop Payment put on them & for some the process is very simple.
A good example is the Western Union MO's that can be purchased in the US at the local 7-11's. Person buys an MO, then later returns to the next shift clerk & states they lost the MO in the parking lot. As long as they have their reciept in hand the clerk will refund the amount & place a stop payment on the MO.
I had a high ticket item last year where the sender sent me a MO. I had asked for a Postal MO but they sent me something I'd never seen before. I phoned the 1-800 # on the MO & the second message I heard was "to put a Stop Payment on this MO please press #4"
I had to wait for over a week before the message came back that the $$$ had been deposited in my account.
MO's are not as safe as some of you might think.
My guess is that your bank screwed up with the Can Postal MO. I've heard some banks in the US take 4 weeks to "clear" them, and some charge as much as $25 to deposit them.
Postal MO's do get stolen from time to time, and you might want to check with the Postal 1-800 #'s and check to make sure this one is legit.
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cdnbooks
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posted on November 21, 2000 09:19:23 AM
Whatever, just remember that US MO's can be stopped. Especially ones from places like 7-11.
It may be that bidpay Mo's can be stopped, does anyone know.
Most certainly billpoint payments from the US or anywhere else in the world can be charged back.
Why you would discourage bidders because of an error your bank made is not something I understand.
Bill
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stockticker
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posted on November 21, 2000 09:20:18 AM
ExecutiveGirl: I don't know if this will help, but here is phone number for Canada Post: 1-800-267-1177
(I'm not sure if this number will work from the U.S.)
Irene
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cdnbooks
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posted on November 21, 2000 09:21:54 AM
reddeer
Surely you aren't saying that if a postal MO is stolen (for instance) or misplaced that there is no recourse for the purchaser.
If that is so, we might as well send cash through the mail.
Edited to add, I just read your post more carefully. Now I understand.
However, it does seem that with the speed of the mails and the speed of the clearing system that one could 'stop payment' by declaring it lost.
The 'stolen' part gives me a lot of concern though. I'm not sure that as a buyer that I'd ever want to use one.
Bill
[ edited by cdnbooks on Nov 21, 2000 09:26 AM ]
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reddeer
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posted on November 21, 2000 09:26:02 AM
Bill ...... There are crooks in the US that steal MO's from the PO. Those MO's would indeed "bounce". A list of the stolen MO's [serial #'s] can be found on the USPS web-site, they also post stolen Canada Postal MO's serial #'s as well. [at least last time I checked?]
Of course that sort of thing never happens in Canada. 
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cdnbooks
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posted on November 21, 2000 09:28:09 AM
Reddeer
I guess because it never happens in Canada, that I got a couple of the details wrong. I have edited my posts above so as not to mislead anyone.
So it does appear that you can 'stop payment' by reporting it stolen.
And that never happens in Canada either.
Bill
[ edited by cdnbooks on Nov 21, 2000 09:44 AM ]
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cdnbooks
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posted on November 21, 2000 09:29:16 AM
So, anyone know if Bidpay MO's can be stopped? And if so, how?
Bill
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reddeer
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posted on November 21, 2000 09:31:29 AM
Bill .... Yes, all BidPay would have to do is make a phone call to Western Union.
end of story ..........
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reddeer
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posted on November 21, 2000 09:34:41 AM
Bill ..... The waiting period for claiming a stolen PO MO is 30 days,, the PO will then "investigate", and only after the investigation will they put a stop payment on it & refund the purchaser.
All the other various MO's can be stopped within 24 hrs, or less. Same goes for cashier's checks etc. Some are harder to do than others, but pretty much all of them can indeed have a stop payment put on them.
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cdnbooks
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posted on November 21, 2000 09:38:34 AM
reddeer
But by the time 30 days passes a postal money order could already have been cashed by the thief. Then what?
Bill
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reddeer
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posted on November 21, 2000 09:46:36 AM
Bill .... I believe they are supposed to check the serial #'s at the PO's before they cash them? I'm not sure of the various rules/regs in the USA?
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stockticker
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posted on November 21, 2000 09:47:47 AM
Cdnbooks: I don't think there is much difference between a money order and a check being cashed by a thief. In both cases, whoever (bank/post office) did the cashing is on the hook. It's up to them to obtain proper identification before cashing.
Irene
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kraftdinner
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posted on November 21, 2000 09:54:11 AM
If the money order was a "fake" of some kind, the bank certainly wouldn't give it back to her, but would retain it.
"reddeer" - should I be changing my ID or something????
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reddeer
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posted on November 21, 2000 09:59:22 AM
Kraftdinner ..... LOL, no, I'm sure when Krs sees your ID he'll be glad you didn't change it. Long story, don't ask.
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keziak
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posted on November 21, 2000 10:17:25 AM
I take all Canadian Postal money orders to the Post Office where I usually end up using them to pay for the day's shipping. They check the MO against a publication that lists problem money orders. For some reason I thought you could ONLY cash them at the Post Office, but looks like I was mistaken.
keziak
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kraftdinner
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posted on November 21, 2000 10:19:08 AM
"reddeer" gee, thanks (ha ha).....KRS, where are you??
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ExecutiveGirl
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posted on November 22, 2000 09:15:25 AM
I brought the MO to my bank today. They didn't know why it was returned. They are re-submitting it to see if it will go through this time. They said since it was in US funds there shouldn't have been a problem.
I also went to the post office and told them about my MO problem. They said if the bank returns it again to just bring it there and they will cash it for me.
When I called the Canada Post yesterday they told me I would have to get a new MO because it can only be submitted once. But my PO says if it's returned again they will cash it for me just as it is.
We'll see what happens!
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