I recently bought some stuff from a board member,and paid him with an International Money Order,in U.S.currency.(I'm from Canada)
That guy has my Money Order in hands for over a week,now,and did not ship the stuff yet,reason being:waiting for the Money Order to clear.!!!
I know,he reads this Forum,so would somebody,please explain here,what a Money Order is all about.!!!

 

hmmmmm. You should never send a money order to pay for stuff like that. At least with paypal you might be able to get something back. Well besides that fact if he really wants to know what a money order is its an order for the payment of a specified amount of money, usually issued and payable at a bank or post office. Thank you dictionary.com It is wise for him, however to wait for the money order to clear because it can be fake.

 

Emil

Yes, a Money order would have to clear the bank like any other check. My bank would have placed a 7-10 hold on it. The fact is that there is a lot of forged MO of there these days and the banks are covering their back sides. In fact I have had them place a hold on a cashiers check! A check is guaranteed where a money is not. On the back of the US Postal money order, there is a statment "There funds are not guaranteed, do not cash for someone you don't know" or some thing like that.

So if the seller is still communicating, then that is a good thing.

 

Sorry guys,but this is not the way I see it.
I can write you a check,for 10 milllion bucks,tomorrow morning,but I don't have the funds,in my Bank account.
When I go buy a Postal money order for,let's say $100.00,I have to pay it there and then,either in cash money,or a CC.so the money is there,and guaranteed.
CDN. M.O. are guaranteed,by Canadian Post,and don't have to wait to clear.
At least that's the way I see it,otherwise,what's the advantage of a M.O.,may as well just pay with a personnal check.!!!

 

exactly, a Canadian money order comes out of your account the minute you ask for one. Its just like withdrawing cash and putting it in an envelope, except you have the recipients name stamped on the cash.

There's no reason to have to "clear" it.

 

It is the same. MO are for folks that do not have checks. The are a ton of counterfeit MO out there, and if my bank want to put a hold on the funds, I inturn would have to. Yes, the funds are more guaranteed then a personal check, but less so then a cashiers check amd they want to hold them too.

You know, with a US postal money order, you can cash them at the post office. The problem in this case is it is a Canadian Post MO, and he can't just go to the post office and cash it.

Remember it is not how you see it that matters, it is how the banking systems sees it in this case.

Now on the personal check front. I don't pay anything other then bill with a personal check. All the bads guys need is the number from the bottom to steal from you. Been there, They did that. In fact I still get return check notices 3 months after I had the account closed.

 

even a cashier's check nowadays can be counterfeit....yes, he is right to wait for the money order to clear....that is what all the nigerian scammers use now, fake money orders and casheir's checks.

 

So what's the use of Money order,then???
Next time I buy something,I'LL put cash money in an enveloppe.!!!

 

MO are for folks that do not have checks.

 

Money orders & cashier's checks were more useful before every schmuck with a computer & printer had the capability to counterfeit them. The point is not that you didn't pay for the money order, but that it may be counterfeit and the seller doesn't know you're honest. The seller is not trying to shaft you...he's just covering his tail.

The U.S. Postal Service doesn't recommend sending cash...too easy for it to disappear. Be sure to use certified/registered mail or someone like FedEx/UPS.