Any difference between a Postal MO and a Bank MO ?????

[gtl1946]

I've asked the PO and Banks if there is any difference in the security of either. They both say NO as you have to pay cash for both and both are backed by the institution issuing them. Also you can't just buy one and then just cancel it without cause and if customer complains of non-payment you're the one they look into for fraud . I know there are postal inspectors but the bank will prosecute on their end also IF one of their customers is fraudelent . Does anyone POSITIVELY know if one is more secure or are we working under misconceptions ???? I keep getting people who will only take postal MO which are a problem for me as I have to go to the bank to get cash(I could have got the MO then !!!!) and then go to the Post Office to buy their MO. Please post facts only PLEASE . Thank you

 

[brian427cobra]

Simply put a USPS MO can be cashed at any post office, then the item can be shipped, and the chance of getting a fake MO is greatly reduced, on the bank side they will hold the MO until it clears, then credit your account

 

[johara1]

The big thing is the cost,USPS. money order is a cheap like a couple bucks. The bank on the other hand is out of sight.........jim

 

[EMLLYN]

Here a USPSMO=$1.10. My bank MO=$4.00.

 

[fdshuster]

In my actual experience(s): tried to cash a postal money order several times, early in they day and was refused. They said to come back later in the day, just before closing & they would have the cash. They said if they cashed it early in the day, they would run of available cash in their drawer. I now take Postal money orders to my bank & deposit them in my account. Bank certified checks cost me nothing. Free of any charges, in any amount, at my bank, Citizens.

 

[TheSnake]

I think the OP is looking for answers on security of one over the other and recourse in case of fraud.

 

[ReedG]

I use Bank Money Orders on all my purchases unless the seller demands Postal Money Order. The bank is a no brainer for me: deducted from my account, usually free, and I'm too stupid to see how anyone could commit fraud with one. Plus, for some reason unclear to me, the post office will not take a credit or debit card toward a postal money order.

I'm not sure why so many sellers specify Postal Money Order but almost all will accept a Bank Money Order on request. I think in more urban areas than where I live there are more choices in money orders such as stores, etc. and maybe someone has been stung before with non-postal MOs.

 

[ChuckMiller]

I think one big thing is the Bank MO's I've seen could be easily duplicated. I've gotten MO's from obscure small town banks, that frankly I've just thought they were fake, regardless of watermarks. They just did not look real, my bank even questioned one once and took the time to call the bank and verify it was legit. Basically if anything goes sideways your on the hook with a Bank MO. I don't care what anyone tells you, the Post Office, your bank, the police, etc offer nothing but empty threats to the offender. Bottom line, you have to hire a Lawyer, need I say more.

 

[Rustystud]

I sent an outfitter in Canada a US Postal "international Money Order". And the RBC held it for two months before giving the outfitter his money. We both were pissed. They said "they had to make sure it was not counterfit". There was a phone number on the money order that the depositer could call for verification. I carry multiple credit cards and/or cash now. I also contact the bank/credit card company and notifiy them of my travel dates. I get a contact person at the bank who is up the food chain including his cell number and/or home number. Yes, i have called them at 3:00am and told them my card has been frozed and there is money in the account. Also tell them there will be consequences when I get home if the problem is not resolved immediately. So far I have had the problem fixed ASAP twice and had one bank VP fired.
Nat Lambeth

 

[necchi]

Neither is more secure than the other.
Both are subject to counterfit and it's being done more frequently.

The issue is a USPS Money order is universally recognized, where as a private bank is just that a single entity that may be unknown to another bank across the country.
As CMJR and Rustystud have pointed out BOTH are now being held by banks for a few days (or longer) until the funds are verified as not being fraudulent.

Bottom line is, if a seller requests a USPS MO, that's what you get. Or if there is a problem, explain it to the seller and have him withhold shipment until the funds clear the bank. Now the wait/liability is on you not the seller, if everything is legit there shouldn't be a problem.
Keep in mind the seller may not be able to verify the MO is good until he's had chance to go to his bank and wait the 3-5 days it takes for the funds to clear his account.

I had a guy here want to pay me with a personal check. His check and his word may have be good, but I have had bad checks passed too me. The Gentlemen took offense that I wouldn't take his check and I'm sorry but I asked for a MO.
The next guy in line happily paid with a MO and received the item.

Recently I had to send some emergency funds to my student son, sent him a USPS MO. He gets to his mailbox late and his PO office and bank was closed, he tried 3 other banks and none would cash it.
He finally went to the local pub, met a few gents that new him and the bar cashed it for him!!

 

[jhord]

Nothing is "safe" these days. I know of one instance where a "real" bank check turned out to be bogus. It's a long story, but the check itself was real, and the issuing bank was called to verify it. They said it was good. Something still seemed fishy about the whole thing, and when pressed harder the issuing bank did some more digging. It was written against an account that had been compromised. Some people think this would be the bank's fault, and probably it is, but I guarantee they will still pull the money back from you so fast it'd make your head spin.

 

[CoverDog]

My complaint with a USPS MO if you want to cash it at the Post Office and keep your bank out of your business, if the PO doesn't have enough cash on hand your SOL. I had to go back to the PO 5 times in a week until they had enough cash in one drawer to cash it. I also talked to the Postmaster at the branch I was using and told him how is this different then me writing a check and then not having sufficient funds to cover it. He basiclly said no difference , but tough $--t.

 

[bozo699]

I ask my bank lady which was more secure, she said the bank check was so the next time I was at the P.O I ask the P.O lady which was more secure and of course she said the usps m.o was so to answer the op's question, I personally don't know as I have had two difference answers to the question, sorry no facts for you. I am not a seller I am a buyer but have never had a complaint about either being a problem to cash. I have had bad personal checks wrote to me before so I understand when sellers reject them, I have been a repeat customer of some of the forum members on here that they will now take my personal check and others want a usps mo only and others don't care how you pay they just hold the item until it clears. I live over a hour from town so either one is a pain for me but the bottom line is I want something YOU have for sale, it's my responsibility to pay how you want it and I have no problem with that, I think a buyer that would throw a fit about a sellers payment request is probably someone not very trustworthy anyway.
Wayne.

 

[noload]

I sell on Ebay alot,, and if I sold on this site, I'd think the same way. I take PO MO's,, pay pal, or checks. postal mo preferred, because I will not have to keep the buyer waiting for his shipment. If other than a postal mo, I have to get of my lazy butt RIGHT THEN and cash the check, money gram, western union, etc. If I wait 2 days lets say. Then the process takes 2 days longer to see if its rubber or not. Hence the buyer waits 2 days longer. Not to mention driving all over to find where to cash a convenient store money gram. Some banks look at these like they are monoply money. Checks are ok, except they to be checked on, to find out when they clear. Always in the back of my head is when can i ship, when can ship. With a Postal Money order none of that extra mental strain is necessary. I have enough faith in P.O. MO's, to ship that day, without even cashing it. Some sellers have the buyers best interest in mind, and really want to ship the item fast....Thats how I think about it all.

 

[Erud]

The issue is a USPS Money order is universally recognized, where as a private bank is just that a single entity that may be unknown to another bank across the country.

Ditto this. I've seen hundreds of postal MO's and they all look the same and are easy to confirm. Every bank has their own design for their money orders and some of them look pretty hokey.

 

[WyleWD]

I don't know if this is an answer or a question, but I was told a few years back that if you paid for it with a US postal MO, and you were not shipped the goods ordered that it was Postal Fraud which was a federal offense.

As far as Postal Money order vs bank.... I've never had even 10seconds worth of trouble cashing a postal money order whether cashed at the bank or the post office. Bank checks on the other hand, I've had a couple over the years that came in here and as posted before..... they even looked fake, and the bank still held them for 2 days, but they were good.

Personally, I like to ship anything bought from me the same day or the next business day after receiving the payment. One of the first rules in business is keep the customer happy and not waiting. JMHO. WD

 

[dreever]

Being an old fart my bank give me cashiers checks for free!

Danny

 

[areaone]

I am very familiar with Bank fraud, my significant other is a bank auditor. Cashier checks or bank money orders are counterfeited more often than you would think. I have received a check from a legit business and it was the real thing, except the company had just had new checks printed and someone at the printers must have printed some extra checks for themselves. Remember whenyou purchase checks from
internet or thru advertising flyers that you are giving you account number and routing numbers to someone that could print their own. when I pay for something with a MO I always inform the seller to hold it until he is comfortable that it has cleared, with that said they always ship the next day. I will also scan the money order and e mail a image and note that it is coming their way. Never had a problem with anyone on this site or Snipershide. If iterested, Wal Mart sells money orders for cheap and will also cash them, seems everyone today has a Wal Mart in their backyard. If you think the Postal Inspectors are going to do a "Hardy Boys" investigation on your MO, think again..(How many of you know who the Hardy Boys are????????)

 

[gtl1946]

Areaone--I do know who the Hardy Boys are/were . I read them all the time when I was a kid . I would say now after posting this and reading the responces that both are secure ,and yes, both can be forged and you will be on your own trying to straighten the mess out . I hope some of us have learned something and that was the purpose of the question. Some of you rigid people can accept any kind of payment and if you're worried just tell them you want to wait a few days for it to clear the bank. Hopefully more than a few people read this. Thanks to everyone so far.

 

[necchi]

Some of you rigid people can accept any kind of payment and if you're worried just tell them you want to wait a few days for it to clear the bank.

You've got that backwords though, as the buyer you need to tell the seller your sorry and that they should wait a few days for it to clear, like this;

"I know you asked for a Postal Money Order, it's difficult for me to get one. Please accept payment via, insert name of payment method here, I will gladly wait until payment clears before you ship my item. Sorry for the inconvenience but this works out best for me. Please stay in touch and Thank You."

Then as the buyer you may expect to wait an extra 7-10 days. Not everyone lives in town, not everyone has access to the bank during business hours, not everyone has computer access to their bank account to watch for the funds to appear,, ???

Heck, If I deposit my payroll check then drive home, the check shows up as activity and "pending" , the funds aren't available untill the next day. A personal check from "someone" isn't available for 3-5 days if under 500, 7-10 if over 500.

It's just the way it works now-a-days, it just ain't like it was in the 70's.