• The move to the new server is done. There are some software and database maintenance updates in process. This has us passing the hat around to help out. We appreciate any donations. Seriously, even a dollar helps. The payment page may be found here - https://www.audiokarma.org/support.html

Money Order Scams?

Status
Not open for further replies.
Joe Nardy

Joe Nardy

AK Subscriber
Subscriber
I'm selling a piece of gear on local CL. An out-of-state buyer wants to purchase the gear. He wants to pay with a Money Order. There's no expectation that the gear will ship before the Money Order is received. Nothing else 'smells' fishy about the deal.

I've never accepted a Money Order for gear so I'm wondering if there are any scams I need to be aware of and any precautions I should take to avoid being scammed.

Thanks,
Joe
 
Register to hide this ad
goodolpg said:
If he sends too much money beware. And then offer to send "his agent" to pick it up.
Supposedly USPS money orders are a good safe option.
Click to expand...

Thanks. No, there aren't any 'conditions' for the sale, just a Money Order for the sale + shipping amount. I was able to look up his CL Name and find an address that matches the zip code it will be shipping to. He wants the package shipped to his work address, which checks out as well.

I have heard that USPS Money Orders are safer but I'm not sure why?
 
I would not accept any money order. By this time if someone still has no other way to pay for items over the net. I feel there is a reason to be very cautious.
 
Unless it's a counterfeit USPS money order I believe you can redeem it at any USPS office.
Added--and they will either cash it or tell you it's fraudulent. Wait to ship until the post office pays you. Have the item packed and ready to ship and do both with one trip to the post office.
 
Last edited:
I wouldn't. Typical scam is that "buyer" sends an invalid money order. It initially clears your bank, you ship, then it comes back from the issuing bank as bogus and you're out the cost of your equipment + shipping.

Better off taking Paypal or Venmo or one of the other personal payment services.
 
Yeah, I wouldn't do it. Just google "Craigslist money order." It sounds like fake money orders and cashier's checks are easier to fake these days. If the buyer is for real, try to arrange some other form of payment.
 
I had a detailed discussion with my bank manager recently about "cashiers checks" because i was selling a car and buyer wanted to give me one. Bottom line: any type of check, draft, money order has a 10-day recision period by banking regulations. So, even if your bank shows the money in your account, it can be taken back within 10 days. Be careful.
 
Insist on a USPS money order. Cash it at the a US Post Office. Once you walk out the door with cash, you're done.

At your bank they'll give you the money, but they always have access to your account if it comes back as fake.

I can think of legitimate reasons someone might want to receive it at work.

I can also think of legitimate reasons someone might be unwilling to use PayPal.
 
Last edited:
stereofanboy said:
Insist on a USPS money order. Cash it at the a US Post Office. Once you walk out the door with cash, you're done.
Click to expand...

This is what I was thinking. Plus, you could go one step farther. If the person is reasonable, and understands about fake payment methods, ask if you could wait two weeks to ship. All he can do is say no. Although, that last step may not be necessary if you do the first step.
 
DesertRatt said:
I had a detailed discussion with my bank manager recently about "cashiers checks" because i was selling a car and buyer wanted to give me one. Bottom line: any type of check, draft, money order has a 10-day recision period by banking regulations. So, even if your bank shows the money in your account, it can be taken back within 10 days. Be careful.
Click to expand...

Good to know.
Years ago, cashier's checks were the gold standard, not anymore.

Wondering how you go about selling a $10,000 car these days?
 
OBMG74 said:
Wondering how you go about selling a $10,000 car these days?
Click to expand...
I'd insist on cash. Although I made a cash deposit at my bank last week and one of the bills was flagged as counterfeit. Still waiting for a report back on it. Since we had been sitting on it for a while we had no way to trace back where it came from.
 
On the other side of things---as the buyer--it's hard to get lots of cash from most banks. I got $25,000 a couple years ago to buy an RV, but i had to give the bank 3-days notice!
 
Joe Nardy said:
Thanks. No, there aren't any 'conditions' for the sale, just a Money Order for the sale + shipping amount. I was able to look up his CL Name and find an address that matches the zip code it will be shipping to. He wants the package shipped to his work address, which checks out as well.

I have heard that USPS Money Orders are safer but I'm not sure why?
Click to expand...


USPS money orders are insured. They're only sold at post offices, and can be cashed there as well if they're not too much $$$.

Highest one they sell in my neck of the woods, is $1,000.
 
OBMG74 said:
Wondering how you go about selling a $10,000 car these days?
Click to expand...

Meet the buyer at his bank. Don't use the teller window. Ask for a banker to assist with a car sale. Either have a certified check withdrawn from the buyers account or have a wire transfer to your bank account.

On a recent cars sale, we both used the same bank. So it was easy to do at the bank.
 
Last edited:
Status
Not open for further replies.
Back
Top Bottom