posted on July 21, 2001 06:21:05 PM
I was just wondering, as I have received a money order for $800 for an auction that ended four months ago. I still have the item and will ship it, but I wonder if someone can cancel a money order after it has been sent. Someone told me they could do that, and also that some money orders are counterfeit. I receive money orders and personal checks all the time in small amounts and always ship immediately, but this one is a real big one (for me!). Any advice would certainly be appreciated.
posted on July 21, 2001 06:31:26 PM
What kind of money order is it? If it is a US Postal Money Order your Postmaster can easily check whether it is good or not (though my little post office would be unable to cash it and I would take it to my bank or a BIG POST OFFICE where they should cash for you with proper ID).
I have not had trouble with "other" money orders, but believe one can put "stops" on many of them and they make me nervous. If it is a bank money order, your bank should be able to check on it I think.
posted on July 21, 2001 06:32:55 PM
Yes money orders can have stop payments put on them after they are sent, But Most people wont go to the trouble and cost nessary to stop payment on a money order inless they feel there is really a problem.
Not only that it can take up words of thirty day for the company to investigate there reason for stopping payment and it has to be valid.
posted on July 21, 2001 06:59:12 PM
I had a money order bounce one time. It was issued by a Quicky Store that hadn't turned the money in for all the money orders they sold, and the bank put a stop on a whole string of money orders. Luckily, the buyer made good, but it blew me away that a money order would bounce.
Who Need's a stink'n Sig. File?
posted on July 21, 2001 08:05:49 PM
My banks holds all money orders, except USPS Money Order for the same amount of time they hold checks. They claim the USPS MOs are as good as cash....
What happens is that someone from our neighborhood wins an auction. The send up a non-USPS money order bought at a convenience store. The issuing bank is usually in another state so they end up waiting 10 working days for the MO to clear.
Makes for a few "slow to ship" comments but you can't be too careful.
posted on July 21, 2001 08:35:15 PM
Thanks for all the advice! Does anyone know how long it takes for a money order to clear? Can someone put a stopped payment on a money order after it clears? I'm probably worrying about nothing, but this has been an extremely agonizing transaction that has taken over 4 months to complete, the buyer is NARU'd, and the payment came out of the blue after two months without contact.
posted on July 21, 2001 09:36:53 PM
Given the length of time of payment I presume there was an explanation as to why ot took so long? I'd gauge that, gauge the feedback that NARU'd the buyers account.
Cash the MO, wait the 10 days. When you ship whatever it is you ship FED EX or UPS with tracking, insurance and delivery signature required. Also when bringing it down to UPS/FEDEX you want to NOT have it sealed up yet. You want them to INSPECT the materials to make sure they are not hammered and are not packaged in a way in which it might get damaged. At least this way if he turns about and tries to stick ya you have some records.
With big ticket items your much more likely to get stung and I'd be REAL suspicious as to why it took month after month for payment and why the NARU happened in the first place. You might even want to consider talking to eBay safe-harbor for delivery suggestions including perhaps an escrow service.
Signed: WhyNot!
posted on July 22, 2001 02:23:14 PM
Whynot,
Thanks so much for the advice. The reason it took so long is that she was going to send it next week and something always came up. Her feedback was wonderful before the NARU occurred, no negatives, 200plus positives, until the final week, when she received about 7 or 8 negatives, then they NARU'd her. She has always been pleasant in her emails to me and she may have just gotten in over her head, the final 2 weeks she bid, she bid on and won tons of items. She was NARU'd for not paying for bids. The main worry I have is that it is such a large amount. I think I will hold it for a while, and use a delivery service like Fedex just in case. Thanks so much!
posted on August 2, 2001 08:32:54 AM
I would because unless the money order is a postal money order or maybe a Western Union / American Express or other large nationally known company the chance it could bounce is higher. Stop payments happen but if you research the costs for a buyer to do so you will discover that it is at least a $10 fee.
"In pioneer days they used oxenfor heavy pulling, and when one ox couldn't budge a log, they didn't try to grow a larger ox. We shouldn't be trying for bigger computers, but for more systems of computers." - Grace Hopper
posted on August 2, 2001 03:46:14 PM
When I get USPS money orders or international money orders, I cash them at the post office since I'm there every day...
