I'll take that bet. USPS money orders are the safest money order out there. They can be cashed at any bank or post office without fail.
Money Order Scams?
- Thread starter Joe Nardy
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I'll take that bet. USPS money orders are the safest money order out there. They can be cashed at any bank or post office without fail.
This is all great information.
So, basically, accept a USPS money order and cash it at a bank? (can’t imagine my small post office having a lot of money in the cash drawer)
Is there such a thing as bogus USPS money orders or are they easily identifiable as being the real thing?
Also, let’s say that you go to the post office and want to purchase a several thousand dollar money order.
What payment do they accept for money orders?
Thanks in advance.
Regarding mail fraud, that, along with tax evasion is what finally sent Al Capone to prison.
So, basically, accept a USPS money order and cash it at a bank? (can’t imagine my small post office having a lot of money in the cash drawer)
Is there such a thing as bogus USPS money orders or are they easily identifiable as being the real thing?
Also, let’s say that you go to the post office and want to purchase a several thousand dollar money order.
What payment do they accept for money orders?
Thanks in advance.
Regarding mail fraud, that, along with tax evasion is what finally sent Al Capone to prison.
Semanon
Super Member
Cash, ATM/Debit card, travelers check (with restrictions). No credit cards, no checks. In short, if the USPS does not have cash, you won’t get the MO. Maximum value is $1000.
Additionally, USPS has a phone number you can use to verify the MO on receipt from the comfort of your home.
Based on the way the sale is described, it sounds pretty safe. Maybe cash the MO (instead of depositing). Once you have cash, they can’t take it back.
goodolpg
Just an old fart trying to help.
I found this....it says "most banks", whatever that means. Can't tell if the bank will charge a fee if they can cash it.
"Money orders are cashed for the exact amount on the order. You can cash a USPS money order at a Post Office for free. You can also cash them at most banks and some stores."
You know how much you will be getting, maybe contact your local post office and see if they can cash it.
If yes, have the item packaged and ship it at the same time you cash the m.o.
Not sure if you mentioned what the "item" is...make sure it is well packaged, especially if it's a turntable. Seems tt's are the most likely item to be damaged during shipping especially if not packaged correctly. And there is a correct way, Google or ask here if you're not sure.
"Money orders are cashed for the exact amount on the order. You can cash a USPS money order at a Post Office for free. You can also cash them at most banks and some stores."
You know how much you will be getting, maybe contact your local post office and see if they can cash it.
If yes, have the item packaged and ship it at the same time you cash the m.o.
Not sure if you mentioned what the "item" is...make sure it is well packaged, especially if it's a turntable. Seems tt's are the most likely item to be damaged during shipping especially if not packaged correctly. And there is a correct way, Google or ask here if you're not sure.
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Will a bank know if a USPS money order is fake or real if you cash it there?
How about PayPal? Are there any scams associated with it? I ask because I have a large pair of speakers in the price range of about 2K for sale on US Audio Mart. I advertised them for local pickup and cash only. I had a reply that wanted to buy them sending me PayPal and getting U ship to pick them up. I wanted local pickup and cash to protect myself and also so the buyer could see and hear them before plunking down money. It shows him being a member on US Audio Mart for less than a year with one buy and three sells. It shows that he bought a 6K+ set of speakers and he's over 800 miles from me.
How about PayPal? Are there any scams associated with it? I ask because I have a large pair of speakers in the price range of about 2K for sale on US Audio Mart. I advertised them for local pickup and cash only. I had a reply that wanted to buy them sending me PayPal and getting U ship to pick them up. I wanted local pickup and cash to protect myself and also so the buyer could see and hear them before plunking down money. It shows him being a member on US Audio Mart for less than a year with one buy and three sells. It shows that he bought a 6K+ set of speakers and he's over 800 miles from me.
You're acting like a USPS money order is the rarest item ever seen in the wild.
More rare than bigfoot.
A USPS money order can ONLY BE PURCHASED from a United States Post Office.
You cannot buy them from some shady character in a back alley, or online, nor do they happen to fall out of trees.
They are as legitimate as the cash used to purchase them from a United States Post Office.
A bank will not need to bring in a forensic team to authenticate one nor do experts need to be called in as what you might see on an episode of "Pawn Stars".
I don't know how many people need to chime in telling you they are bonafide instruments before you begin to realize they are in fact legitimate financial transactions.
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And here we are, discussing the integrity of one of the safest cash transfer instruments in existence vis-a-vis the "security" of online money transfers a la PayPal, venmo, zelle, credit/debit card, checking accounts, savings accounts & gawd knows how many other e-transactions currently exist. But- it's on the internet! It's totally safe!
Yeah, right! If it's initiated by keyboard strokes, it can & will be co -opted by nefarious keyboard strokes eventually. Happens daily.
dipshiites!
Yeah, right! If it's initiated by keyboard strokes, it can & will be co -opted by nefarious keyboard strokes eventually. Happens daily.
dipshiites!
And here we are, discussing the integrity of one of the safest cash transfer instruments in existence vis-a-vis the "security" of online money transfers a la PayPal, venmo, zelle, credit/debit card, checking accounts, savings accounts & gawd knows how many other e-transactions currently exist. But- it's on the internet! It's totally safe!
Yeah, right! If it's initiated by keyboard strokes, it can & will be co -opted by nefarious keyboard strokes eventually. Happens daily.
I've yet to see an AK thread warning everyone of the tremendous number of fake USPS money orders, nor have I ever seen a news report warning of the USPS money order scams, but there are numerous scams for credit/debit card, gift card, fraudulent cashier checks, PayPal scams and probably many more.
If someone is willing to send me a USPS money order, and will patiently wait for me to ship it until they've cashed the money order(s), then I'm in.
@RS Steve didn't have any problems cashing the USPS money orders I recently sent or else I wouldn't have received the item that I purchased, and that isn't the first transaction I've sent or received through the years.
I trust them far more than anything else, unless you have a pen to check the currency bills for counterfeit. Imagine selling your gear in person for cash, only to find out it isn't even real money.
One hundred dollar bills can be printed only by the Federal Reserve.............that is unless someone counterfeits them. I'm sure that the USPS money orders could be counterfeited also. I wasn't offered a USPS money order but was simply asking if a counterfeit money order could easily be identified by a bank. Feel free to ridicule my post some more if it makes you feel better.
That's great. Depending on where OP lives he may or may not be in the USA -- I don't check everyone's profile page before commenting, maybe you do. If you wanna buy anything from me with a piece of paper, the paper had better be cash.
Electronic cash transfer from your bank to their bank, can do it via email address; if you register your email account with your bank, people can send money to it.
https://www.usps.com/international/money-transfers.htm
The safety and convenience of a USPS money order makes it very easy to do distance transactions securely, even if it is to another country.
I do not have to link my bank account to any website or app that can be hacked and my 411 stolen along with my money and credit score. I do not have to remember my password for walking into a post office to buy or cash one either.
By far, they're much cheaper than a wire transfer or the PayPal Goods & Services fees. There will be your costs to drive to the post office but even that is nominal.
With PayPal, Venmo, eBay, and other players now "mandated" to send 1099 forms for any annual (cumulative) transaction activity of $600 or more, that makes using the USPS m.o. even less hassle than those other formats.
For the convenience, safety, and very affordable cost that USPS money orders provide, and they never expire, it is the best way I see to conduct distance transactions especially with their guaranteed replacement if they get lost, damaged, or stolen.
For more 411, this will explain it all for you.
https://www.usps.com/shop/money-orders.htm
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Again, that’s great, but you should maybe stop assuming everyone lives in the USA, it’s an international board. I wouldn’t accept a foreign money order because it’s not 2004 any more.
I don’t have anything to hack either; if you think you’re up to the task of hacking a bank, go for it lol. And really if you can’t remember your passwords at this point it might just be time to hang up the keyboard.
I can transfer secured funds in roughly 30 seconds, but if you enjoy using money orders still that’s just great too. It’s just likely that some buyers, myself included, don’t want’ em and sure won’t wait for it to clear to see if it’s real or not. Why would I wait when I can get the cash immediately? Cheers.
With more than a quarter MILLION USPS money orders purchased daily, and in 2021 alone, more than 71 MILLION purchased, I'd say that's a few more than nobody. That's assuming nobody doesn't start until after 300,000 daily.
I shared a link to USPS international money orders. Many other folks may not have been aware of them and their relative inexpensive cost, combined with their security, seems like a very practical alternative. Not everyone is comfortable with doing wire transfers which cost far more, nor are they wanting to use the online players such as PayPal, Venmo, Ca$hApp, or other electronic methods.
Nobody is telling you how to conduct your business, and if you're set on only accepting that type of payment, kudos for you.
Your e-transfer method seems to only be available from and to Canadian banks. There are wire transfers, but those are still more costly than the USPS money order, available in the USA or International.
There you go with those assumptions again.
It isn't me that will be hacking banks, but thanks for assuming that and the rest of the quote. I'll never lose a moment's sleep about spending a small pittance for a very secure transaction method that protects both the buyer and seller.
That's great, etc., etc., but I still wouldn't accept a foreign money order from you.
Since you're not a subscriber, or posting anything for sale in bartertown, I wouldn't worry about it. Even then, I still prefer to deal only with rational people.
Debit cards are ok but NOT credit Cards....if receiving always call the post office a day before if your trying to cash any large amount. thing is your bank account will except a USPS money order 100 %...no Bank Can charge you for depositing a USPS money order. you have the money in one day if you want the cash in hand then do the transaction by hand.
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