posted on May 7, 2002 03:04:00 PM
I am about to buy 2k worth of stuff from someone via COD. He said that he can't do it with a money order because of once someone put a stop payment on it when he finaly got the money order. I called the post office and you cannont put a stop payment on money orders. Are there other money orders that you can put a stop payment on?
Thanks Mike
posted on May 7, 2002 03:21:22 PM
Just about any money order can have a stop payment put on them.
Postal money order can not, Thats why I find them the most safe.
posted on May 7, 2002 05:29:06 PM
You can stop payments on money orders and even cashier checks. Banks are not usually to keen on the idea of putting a stop pay on a cashier check BUT if you know the right words it can be done.
posted on May 7, 2002 07:56:25 PM
I always wait 7 working days to ship anything, regardless of how it's paid for (except Paypal).
I had one bank money order stopped and one Western Union money order stopped. Fortunately they were small amounts and a cheap lesson.
If buyer complains, tell them you have to wait for it to clear. I send them a JPG of the two stopped payments to convince them.
posted on May 7, 2002 07:59:57 PM
Yes, a bank Cashiers Check can have payment stopped, BUT you must post a bond for twice the amount which is refunded when the CC is returned to the bank or it becomes stale dated at 6 months. There must be a compelling reason for such a stop payment, as these funds are considered to be "guaranteed".
posted on May 7, 2002 10:50:12 PM
Posting bond to stop a cashier check must be the way your bank handles it. I have worked in banking for a number of years and we never required anyone to post bond.
posted on May 7, 2002 11:10:51 PM
If you would really rather do the money order, then let the seller know that a postal money order cannot have a stop payment, and that you would be willing to incur the additional cost of that money order to make the sale complete.
Personally, I have never heard of a money order being refused for a purchase. It just seems to me that he would accept the payment, deposit it, wait for clearance and then send items... But then, sometimes I see my own lower colon, my head is so far up my...
posted on May 8, 2002 10:43:50 AM
I believe almost all commercial money orders can have a stop payment on them. I had one at one of our local supermarkets that woulldn't take a debit card from me. They said I could stop payment on it. They would only take cash. I stick with USPS M/O's
posted on May 8, 2002 11:00:52 AM
If it's COD then waiting for it to clear is not an option. How does the seller want you to pay? (I don't think COD even takes money orders...USPS web site says "personal check or cash."
