US Postal Money Orders

bolly

bolly

Lunatic Member
Do these things exist? In Canada I go to the post office ask them for "X" amount of dollars, they ask CDN or US. I can choose. Now, I receive a Personal Money Order from a guy in Fayetteville says ANB Financial on it. I was hoping for a money order that said United States Postal Service, or something to that effect. I didn't cash the money order. Do you have access to such a document?

Greg
 
South of the border here we can get international money orders at the post office.
They cost a little extra and are redeemable in most any currency.
I've sent them all over, but not in a year or two.

Carl
 
Bolly you can cash that at your bank here. It's probably a M/O drawn from the guys bank. I get those all the time. Some banks will hold them for a bit til they clear but I've never had that happen to me. For USPS Postal Money Orders make sure it's a pink international M/O and NOT a domestic green one. The green ones are only cashable in the good ole U.S.of A and Puerto Pico IIRC. Postal money orders are nice because you can cash them at the post office but they are basically the same as cash so you best not lose it anyplace. Postal M/O's charge a fee which may explain why he sent a bank M/O. I do the same thing when using M/O's because I can draw them from my bank for free.


Mike
 
Thanks Pro, I did email him back requesting an international postal money order. See what happens?

Greg
 
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This is his reply,

"What I am suggesting is that you cash it tomorrow, wait for 30 days, and
send me the speaker on April 5. That should get you past the hold
period and any concern that the check won't clear. Is that OK? Jeff."

What should I do?
 
Bolly that should be just fine. If you're worried ask your bank just how long it will take for the M/O to clear. From the attitude of the buyer I'm 99.999 % certain everything will be just peachy.

Mike
 
I don't know???

This is what I sent him,

"Jeff, This situation can be alleviated by me returning your "personal money order" and you can purchase
an "international postal money order". I have purchased items from ebay and I always wonder, Will I get my stuff? Well I hope you can appreciate my position here. My bank-manager tells me your money order is probably a good one, although he's never seen one before and that it takes 30 days to "clear" I asked him to contact the people who would clear your money order and he couldn't really tell me who that is. So it makes me wonder, I deposit your "personal money order", I call it that because that's what's written on it, 30 days go by and the bank releases the funds, and then on day 31, or any other day thereafter, the "personal money order" is sent back to my bank and then they want their money back, from My Account. I'm not saying this will happen but that it could happen. I'm sure some other form of international, negotiable payment methods are available. A postal money order from the post office has always worked for me"


Am I unreasonable?
 
From my experience "down here", money orders are payable immediately at the time of cashing at the financial institution you are using there. They should not be held (as a cashiers check would be) awaiting proof of funds since they are not a check. I've sent a few "pink" USPS money orders north of the border with no ill effect other than they cost many dollars more than the .90 each for our regulars. I have, however, received non-postal service money orders from folks here in the US and been hit with a "cashing fee". I lost a buck or two but walked out with the $$.
 
Forgot to mention...

It doesn't say which currency the money order is payable in.

Greg
 
Greg,
As Pro says it should be all right.Take it right to the PBR(bank teller) don't put it in the ATM
The bank you deal with should be able to tell that it is a US M|O and adjust the exchange rate accordingly.
In my xperience they cash it right in front of you,think of it as a certified cheque,the guy had to have the money to buy the M\O

Alan
 
I realize that but,

What happens after 31 days and "mysteriously" the money order shows up back at my bank. Then again, maybe everything's on the up 'n up. I don't know...
 
He replied back...

Send his m/o back and he'll get a postal m/o for me. Holy $hit!, only had to tell him 3 times...POSTAL MONEY ORDER! I'll return his "thing" tomorrow.

Greg
 
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I don't think there is any problem with what the guy sent you - most probably its an international draft, meaning its like a bank cheque (casher's cheque) drawn in US dollars.



Chris
 
Greg,I checked with my sister who worked at the CIBC for 32 yrs,the M?O will not come back on you,the guy has already given the bank the money.If it comes back it is cause the bank went teats up

Alan
 
Thanks for checking with your sis' Alan

I sent him his m/o back. Just have to wait and see. In the army we call it "watch, and shoot"
 
Money order Form of cash bought for a specific amount and signed over by the purchaser to the person or firm named on the money order.

Bolly you're beating your head against a wall for nothing. That M/O is the exact same as if he'd stuffed 3 c-notes in the envelope. The buyer can't stop payment on a M/O and not even the bank going teats up can prevent payment because they are insured. The only advantage to a postal money order is its cashable at any post office and anyone can cash it. I prefer a bank M/ O myself because only the payee listed on the M/O can cash it.

Mike
 
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