Accepting payment via money order

LincolnLincoln
in Help Wanted!
I have arranged to sell a few games to someone out of that that found my craigslist post. He opted to send a money order, which I am ok with. I just have a couple questions:

Where can I cash a money order? Will my bank do that?

How long do I have to wait to make sure the money clears and I'm not getting scammed?

thanks

Comments

  • PowerPlayersPowerPlayers
    Money orders are cashed by USPS stores I believe.
  • VGS_captmorgandrinkerVGS_captmorgandrinker
    Specify that you want a USPS money order, that way you can cash it at the post office (and no holds, etc.)



    If you cash a money order at your bank, and it comes back as fake, they can nail your account for the difference.
  • LincolnLincoln
    Originally posted by: captmorgandrinker

    Specify that you want a USPS money order, that way you can cash it at the post office (and no holds, etc.)



    If you cash a money order at your bank, and it comes back as fake, they can nail your account for the difference.


    I think he already bought it but I don't know from where. I'm aware I can get stuck if it's bad- do you know how long it will take to clear it?
  • VGS_captmorgandrinkerVGS_captmorgandrinker
    You probably have to ask your bank as that depends. If it's not a USPS one, I wouldn't ship until it clears.
  • K.ThrowerK.Thrower
    Is ebay accepting money orders again? I just opened a store (cheaper for listing the amount of items I was) and I saw money order as an option somewhere. Is this new (again) or just for stores? To OP, Postal MOs are the way to go, easiest and safest IMO.
  • AustinAustin
    Things like that, I usually deposit in the bank then wait until it clears before shipping. There are a variety of places you can get money orders though. 7-11 is another asides from the Post Office, and they make legit Western Union money orders.
  • ulasamosaulasamosa
    when I accept money orders they need to be USPS Money Orders. Not because they can be cashed at the post office (although that is nice), but if for some reason it is lost you can just give them the # off the stub and they can cancel and reissue a new one.
  • arch_8ngelarch_8ngel
    I would only accept postal money orders because the level of crime that has occurred in the case of fraud is significantly greater than scamming with a bank/western union money order.
  • GameBoyScottyGameBoyScotty
    Originally posted by: arch_8ngel

    I would only accept postal money orders because the level of crime that has occurred in the case of fraud is significantly greater than scamming with a bank/western union money order.




    This^. PO MO is the way to go.
  • MogMog
    As per craigslist:



    DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON - follow this one rule and avoid 99% of scam attempts on craigslist.



    FAKE CASHIER CHECKS & MONEY ORDERS ARE COMMON, and BANKS WILL CASH THEM AND THEN HOLD YOU RESPONSIBLE when the fake is discovered weeks later.
  • LincolnLincoln
    thanks for the advice guys. in the future, i'll specify postal money order. this time around I'll have to wait and see if that's what he bought, or I have to wait for it to clear.
  • arch_8ngelarch_8ngel
    Originally posted by: MrMiniMog

    FAKE CASHIER CHECKS & MONEY ORDERS ARE COMMON, and BANKS WILL CASH THEM AND THEN HOLD YOU RESPONSIBLE when the fake is discovered weeks later.

    That's the importance of postal money orders.

    (1) I gather that they are much better about catching a fraudulent MO before it's ever cashed, so you don't ship prematurely

    (2) If it's fraudulent, the scammer has committed a felony, regardless of the amount of the MO.  With non postal money orders, I suspect that anything less than a certain amount is just a misdemeanor (just a guess, based on past experience with check fraud)

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