posted on October 29, 2000 12:35:10 PM new
Hey All,
Can somebody help me understand the difference between the two: Cashiers Check and Money order. Which one is safer for the seller? any advantages or disadvantages of either?
posted on October 29, 2000 01:00:05 PM new
About the only difference is that a Cashiers Check is usually more expensive than a Money Order...but they are both pre-paid and safe for the seller.
posted on October 29, 2000 02:43:24 PM new
Cashiers check comes from the buyer's bank and is guaranteed by the bank to clear.
Money orders are purchased from a business (Post Office, Wal-Mart, Albertson's, grocery stores, gas stations, etc.) and must be purchased with cash and are guaranteed by the business to clear.
Either one can be forged and Postal Money Orders are the safest, but I have not had a forged MO or Cashiers Check yet. (knocking on wood)
posted on October 30, 2000 07:47:26 AM new
They are both very safe if official and SIGNED. I actually received a bank (cashiers) Check from a bank in texas that was not signed in error. I figured it would go through anyway because it was a small amount. My bank returned it as non-negotiable and I had to go through hoops to get it through the bank the second time.
I made a few phone calls to the issueing bank
who said they would honor it but then had to tell my bank, don't worry just send it through they have a record of it and will pay it.
It was a pain for 6.75 but I could tell from
looking at it, it was genuine, just a dumb mistake on the banks part.
