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 How long does it take for a money order to clear?
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beneteau
Advanced Member

5842 Posts

Posted - 02/23/2007 :  2:41:46 PM  Show Profile  Reply with Quote
I've looked around on the net and can't find an answer. Sold an item on eBay----my add states "PayPal or US Postal Money Order ONLY". Just got the buyer's money order---"Western Union"----from a convenience store.

Just curious if anyone knows about how long it takes for a money order to clear. Guess I'm getting to leery of being scammed.



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Henry0Reilly
Advanced Member

USA
13721 Posts

Posted - 02/23/2007 :  2:43:04 PM  Show Profile  Reply with Quote
Try checking for a Western Union Website or see if they are sold in a store near you that would verify and cash it.



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beneteau
Advanced Member

5842 Posts

Posted - 02/23/2007 :  2:46:14 PM  Show Profile  Reply with Quote
Western Union website states that their "agents" are not obligated to cash their money orders.



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sig232
Advanced Member

USA
8111 Posts

Posted - 02/23/2007 :  3:01:03 PM  Show Profile  Reply with Quote
quote:
Originally posted by beneteau

Western Union website states that their "agents" are not obligated to cash their money orders.







I have found that the Post Office does not like to cash their money orders either. If its $100 or less they will do it but in most cases sent me off to come back later. They claim that they don't have enough cash in the drawers. I think this is policy so they can get the float on the money and force us to deposit the money order and go through the banking system.

They will check and verify that the postal money order is good though.

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Henry0Reilly
Advanced Member

USA
13721 Posts

Posted - 02/23/2007 :  3:06:23 PM  Show Profile  Reply with Quote
Please call 1-800-999-9660 with questions about money order status, payout information, refunds, replacements, and lost or stolen money orders. (from their website)



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beneteau
Advanced Member

5842 Posts

Posted - 02/23/2007 :  3:19:58 PM  Show Profile  Reply with Quote
quote:
Originally posted by Henry0Reilly

Please call 1-800-999-9660 with questions about money order status, payout information, refunds, replacements, and lost or stolen money orders. (from their website)





I appreciate your help. Unfortunately, only information given was the money order is outstanding; but, authenticity cannot be verified. Plus I called a local grocery store that sells Western Union money orders and they won't cash it unless it was purchased from them. I'm just gonna notify the buyer of his error in not paying via the stated payment methods and advise him that I'm gonna have to wait 10 business days before shipping his merchandise in order for this money order to clear. His fault to begin with.



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spryor
Advanced Member

9328 Posts

Posted - 02/23/2007 :  3:33:46 PM  Show Profile  Reply with Quote
I had a client pay via WU some time back, and it was a month before I
could get into town to collect on it. The gal at the counter couldn't
find anything about it on the computer and called WU, and started
having some kind of screaming fit with whoever was on the other end...
banging the phone on the counter and everything. I walked out laughing,
went back about a month later, same thing. Went back yet another month later..Paid, no problem.lol They had to deal with some overseas
WU, and I suspect that's where the problem was.


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buschmaster
Advanced Member

USA
15492 Posts

Posted - 02/23/2007 :  3:38:32 PM  Show Profile  Reply with Quote
every time I asked the bank that questiopn (and about regular checks too) they gave me the runaround. 2 weeks? 30 days? 60 days? basically, all they would commit to was "if it gets charged back to us, it gets charged back to your account" no matter how long it takes to come back bad. they said generally if it's been 60 days it should be good. which is laughable.

baaaaaa.
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slipgate
Advanced Member

Italy
9162 Posts

Posted - 02/23/2007 :  3:48:14 PM  Show Profile  Reply with Quote
I have heard horror stories of money orders being charged back to accounts 3 months after they are cashed. As a rule, I would never accept money orders or cashiers checks.

Cash, Check or Paypal only!

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brier-49
Advanced Member

USA
5228 Posts

Posted - 02/23/2007 :  4:28:06 PM  Show Profile  Reply with Quote
Sig232 P.O. do not have that much cash on hand.If someone comes into the P.O. I work in early with a $100.00 bill the clerks do not have change to cash it.P.O. do not have a lot of cash on hand.All receipts are banked daily. I have yet to be refused cashing a PO money order at a bank.

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gearheaddad
Advanced Member

8996 Posts

Posted - 02/23/2007 :  5:15:54 PM  Show Profile  Reply with Quote
If the buyer has a decent amount of positive feedbacks you shouldn't have anything to worry about. I've recieved all kinds of wierd looking money orders and so far, so good!

My Grandpa always said "sounds like too much thinking, why don't you try aiming!"
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p3skyking
Advanced Member

USA
19282 Posts

Posted - 02/23/2007 :  6:52:57 PM  Show Profile  Reply with Quote
quote:
Originally posted by sig232

quote:
Originally posted by beneteau

Western Union website states that their "agents" are not obligated to cash their money orders.







I have found that the Post Office does not like to cash their money orders either. If its $100 or less they will do it but in most cases sent me off to come back later. They claim that they don't have enough cash in the drawers. I think this is policy so they can get the float on the money and force us to deposit the money order and go through the banking system.

They will check and verify that the postal money order is good though.



It must just be your branch. I cash $1000. MO's at the PO every week. Sometimes I have to wait until a particular cashier comes back, but usually it's get it and go.

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grizzclaw
Senior Member

1110 Posts

Posted - 02/23/2007 :  7:11:10 PM  Show Profile  Reply with Quote
My credit union says a week to ten days. I just deposit it and check back later. I ran into the same problem with personal checks, I don't take them and I tell buyer's that. If they send me one I contact them and let them know that they have to wait till it clears, which may take 3 weeks. If they don't like waiting, then they shouldn't send them.

Thanks, Grizz

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Locust Fork
Moderator

USA
25239 Posts

Posted - 02/23/2007 :  11:55:16 PM  Show Profile  Reply with Quote
Somebody tell slipgate about the horrors of pay pal.....QUICK!!!

My bank holds out of state (even certified) checks and money orders for 10 days. I have no idea when the money comes...but I hope I catch it if it ever "goes." In all of the years of doing business I have only ever had problems with two checks.

Both of them were Government checks....when you called to verify funds it was "good" so we cashed the checks for a total of nearly $5,000.00 yes..... FIVE THOUSAND DOLLARS!!!!

Guess what...they were good for the amounts that they were for....but were not for the people they were made out to. The account was actually for a Sherrif's department in another county! Funny huh? The gang of three people were caught...but no money was ever returned to us.

We no longer cash income tax checks.

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The artist formerly known as Dano
Starting Member

South Sandwich Islands
1 Posts

Posted - 02/24/2007 :  12:03:09 AM  Show Profile  Reply with Quote
I usually buy more than I sell. That being the case, I almost always send USPS M.O.'s for payment.

I've yet to have experienced any problem(s) with a USPS M.O. 99.9% of most sellers prefer them.

They do cost more, quite a bit more actually, but I guess in the long run, they are worth the added peace-of-mind.

The "ONLY" bad thing about owning "A GUN" is........not owning two or more!

When the dust settles and the smoke has cleared, it's not the firearm in hand that determines accuracy, but rather, the hand on the firearm.

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Slow_Hand
Advanced Member

USA
3129 Posts

Posted - 02/24/2007 :  12:17:43 AM  Show Profile  Reply with Quote
I've been told by a few banks that it can take as few as 3 days and as long as 30 days, depending upon if it's a money order from someone like American Express or the USPS versus that of a smaller and more local service with little or no national banking exposure.

"If we don't change direction soon, we'll end up where we're going." - Prof. Irwin Corey
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pistoljim
Member

USA
584 Posts

Posted - 02/24/2007 :  12:24:14 AM  Show Profile  Reply with Quote
quote:
Originally posted by beneteau

I've looked around on the net and can't find an answer. Sold an item on eBay----my add states "PayPal or US Postal Money Order ONLY". Just got the buyer's money order---"Western Union"----from a convenience store.

Just curious if anyone knows about how long it takes for a money order to clear. Guess I'm getting to leery of being scammed.






What difference does it make where the m.o. was purchased from? Post office m.o. can be just as fake as any other. I never understood why some sellers request postal money orders. Simple solution. Find out the name of the store it was purchased from and call them. They will be able to tell you if it is good. I would take a m.o. over a personal check any day.

"I sting like a butterfly and punch like a flea"
SI Robertson, Duck Dynasty
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The artist formerly known as Dano
Starting Member

South Sandwich Islands
1 Posts

Posted - 02/24/2007 :  12:31:48 AM  Show Profile  Reply with Quote
Yes, USPS M.O.'s can be faked (although harder to do so), but if you have any question as to their authenticity, you can just go to your local Post Office for immediate verification.

The "ONLY" bad thing about owning "A GUN" is........not owning two or more!

When the dust settles and the smoke has cleared, it's not the firearm in hand that determines accuracy, but rather, the hand on the firearm.

If you don't take CONTROL of the situation, the situation will take CONTROL of you!
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The Ginral
Junior Member

USA
150 Posts

Posted - 02/26/2007 :  3:10:15 PM  Show Profile  Reply with Quote
Here's 2 cents:

A money order, a cashiers check, ( or a certified check, though they're getting to be a thing of the past), or travelers checks do not have to "clear" in that they are bought and paid for up front from the Post Office, Bank, Western Union and so on.

Depending on the policy of who's cashing them, and your relationship whith them, such as your Bank, you may have to wait for them to clear because low lifes counterfeit and steal them just as they do currency.

I would be leary too if the "money orders" were from Sam & Daves Party Store or something.

Anyway, LEGIMATE money orders are "good" in that they won't be returned for insufficient funds.
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kimi
Advanced Member

USA
34150 Posts

Posted - 02/26/2007 :  3:16:39 PM  Show Profile  Reply with Quote
Good post, Ginral.

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