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]

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.

[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.

[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]

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.

[sellersm]

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

^This. USPS money order has different rules/laws than a 'bank' money order. You're better protected with a USPS MO, that's probably why you asked for one in the first place! Why risk it?

[Hound]

Ya, used to believe this until we got bit. USPS MO are no better than any other short of maybe better initial tracking. We used one on a sale because we had heard the same thing. It was cashed, never got anything back, no way to prove who actually ended up with it, no way to recall the money, no real proof, etc. You are better off with a personal check since there you do have the law on your side. It may take a bit longer but both clear if the money is there. If not... USPS says "that sucks... Next" the bank will try to do something about it.

^This. USPS money order has different rules/laws than a 'bank' money order. You're better protected with a USPS MO, that's probably why you asked for one in the first place! Why risk it?