Money Order payment issue

[esaabye]

I placed a Scatt unit for sale on a different site and the buyer agreed to USPS MO payment terms. Today I get a MO drawn from a small bank in KS with no watermarks or anything else on it official looking.

question is how do I handle cashing it, how long does it take to clear?

[BigBear]

Take to bank or USPS and ask to have it cashed. If it's legit, they will... if not, you got problems if you already shipped product. MO should be able to be cashed on the spot (depending on bank, new finance laws, etc).

[VolksDragon]

I'd just call the bank that (allegedly) issued the MO, and confirm it's validity. Make sure it's legit, then ship.

[Ridge]

I'd send it back and tell the buyer to meet your sale requirements.

[VolksDragon]

Take to bank or USPS and ask to have it cashed. If it's legit, they will....

This isn't always the case, as most banks will cash MO's and checks for local account holders without too much scrutiny, especially if the MCR reads correctly. If it looks legit, the local bank teller will process it, only to find out later that the MO or check was forged, drawn on a closed account, etc.

It's always a safe bet to contact the institution that issued the MO, after you verify their validity and contact them via published numbers.

FWIW, USBank and Wells Fargo checks are super plain and simple looking.

[VolksDragon]

I'd send it back and tell the buyer to meet your sale requirements.

Even better.

[buffalobo]

I'd send it back and tell the buyer to meet your sale requirements.

^^^^^Yep.

[BigBear]

Good to know. Thanks for the clarification!

This isn't always the case, as most banks will cash MO's and checks for local account holders without too much scrutiny, especially if the MCR reads correctly. If it looks legit, the local bank teller will process it, only to find out later that the MO or check was forged, drawn on a closed account, etc.

It's always a safe bet to contact the institution that issued the MO, after you verify their validity and contact them via published numbers.

FWIW, USBank and Wells Fargo checks are super plain and simple looking.

[wctriumph]

If it is drawn on a bank that is not in the state of the buyer and the return address is also different ...

Sounds fake to me. Take it to your bank and ask them if it is good or fake, don't try to deposit it to find out, ask.

[ChunkyMonkey]

Yes, careful. It can take upto 3-4 weeks for your bank to find out if it's a fake cashier check.


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