Do you take money orders at all? (need advice from our cautious sellers)

bigdcards

I haven't sold anything in a long time and I was just asked if I would take a money order. The guy has over a decade of great feedback, all as a buyer. So if I won't take it from him, then I would think MO would just be absolutely not for anyone. It's for '86 fleer basketball packs, so I don't want to get burned on this one. Of course, I'd also like to sell them....

GB5HOF

Sure. Saves a nice chunk of fees...and you'll be in no rush to ship waiting on his payment.

mlbfan2

How about a postal money order? You can cash it at the post office.

Guru

Postal MO's are hard to counterfeit. Never take a Western Union...ever. If you're really worried, ask for a cashiers check from his bank. Then you'll be guaranteed that it's okay.

dennis07

A cashiers check might be an option. My bank (BOA) doesn't charge a fee (probably has to do with what type of accounts I have).
If the buyer just doesn't want use paypal and is looking for another option maybe this is a way to go.

Foo3112

Money Orders are actually pretty safe. It’s like cash. It’s just inconvenient since pretty much the world of eBay mostly operates with PayPal these days.

Checks on the other hand are the ones I would be worried about. You can still get a check, get it cashed by your bank and then you mail out the item. Then 3-4 days later your bank can come back to you, tell you the check was fraudulent and take their funds back and then you would be left empty handed without your money and without your card.

tmgrnzx9r

I agree with others. Tell him a postal money order. They do not cost that much to buy. You can cash it at a bank or post office.

mlbfan2

<< <i>Money Orders are actually pretty safe. It’s like cash. It’s just inconvenient since pretty much the world of eBay mostly operates with PayPal these days.

Checks on the other hand are the ones I would be worried about. You can still get a check, get it cashed by your bank and then you mail out the item. Then 3-4 days later your bank can come back to you, tell you the check was fraudulent and take their funds back and then you would be left empty handed without your money and without your card. >>



Money orders can be fraudulent too, just like checks.
http://www.nydailynews.com/new-york/man-facing-prison-1-million-fake-money-orders-article-1.1371060

Guru

Personally, I would ask for a cashiers check from their bank. When you receive the check, call their bank and ask if funds are available. If they are, take it to your bank, deposit it, wait for it to clear and then send the item.

dennis07

Just to be clear as to why I like cashiers checks
This is how they are treated (the bank will not write a cashiers check unless the funds are in the account.)

A cashier's check (cashier's cheque, banker's cheque, bank cheque, official cheque, demand draft, teller's cheque, banker's draft or treasurer's cheque) is a check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.[1] Cashier's checks are treated as guaranteed funds because the bank, rather than the purchaser, is responsible for paying the amount.

bigdcards

Thanks to all! This board is pretty awesome when there are real questions.

Darren

Coucher73

I generally don't -- not so much because I'm worried about fraud, but because the last thing I want to do is go to the bank or to the post office for any reason. Yeah, I know -- how long can it take to go to the bank to make a deposit? Not long. But long enough that I don't want to bother with it. Fees be damned.

I know that different people have different circumstances, but it amazes me in this day and age that anybody ever wants to write a check or go get a money order for ANYTHING.

vols1

A wire transfer is your safest bet. That what I do for all my big purchases.

msassin

"The guy has over a decade of great feedback, all as a buyer"

Why would anyone here not want to take a money order? (saving 3% PayPal right from the start)

bigdcards

<< <i>"The guy has over a decade of great feedback, all as a buyer"

Why would anyone here not want to take a money order? (saving 3% PayPal right from the start) >>



I know people get burned on fraud with them. But I really don't know how bad the problem is since I'm just reading about it. This board has a lot of first hand experience with this exact population, on the same site, so I checked in with the question.

milbroco

Bank checks, Cashiers checks, Official checks and Money orders can be counterfeited. Even Postal Money orders. I was told from my Post Office that they are not allowed to cash them because of that. It may be a bit more difficult to counterfeit Bank checks and Postal Money Orders but it has been done.

One thing crooks do is to buy a money order for an amount.......$10.00 and they have a way to alter the impression to read $100.00 or even $1,000.00. If you get a Bank Check / Money Order, hold it up to the light. If you see thin spots like it was erased, then it probably was and is no good.

I think what dennis07 is talking about is a certified check. A certified check is a personal check that the customers bank withdrawls from the account at the time it is certified and holds the funds in a suspense account until the check is presented by your bank for payment. To my knowledge, once your bank is paid it cannot be reversed.

Good Luck,

Robert

JoeBanzai

No problem with Postal Money Orders at all.

Wolfgang427

USPS Money Orders are the safest as you can cash them at the P.O. before you send cards out. Bank wire is safe too, just make sure its a wire and not a direct deposit into your account with a fake check). I have gotten counterfeit cashiers checks, and counterfeit certified checks(I took a mid four figure hit in the mid 80's on one).

JW

Most of the post offices by me keep very little cash on hand (couple hundred to start the day), so the post office can’t always cash your Postal Money Order. They have told me to come back at the end of the day, and they usually have more cash on hand. They don’t keep much cash, since most transactions are either debit or credit card. So if you are dealing with a pretty large Postal Money Order, that is something to consider.

Raulsmaster

Guys, take any money you can get. It's easier than fighting it. I've taken many o money orders/checks etc over the last decade and never was it an issue. Wait to send it if you feel more comfortable but the fraud cases are along the lines of 1000/1 if that.

mygotta

If its a reasonably priced item I will accept a money order. But for something like $4 or $5, I will decline. It is a bigger time waster to cash or deposit the money order than it is worth.

Raulsmaster

I encourage concealed cash too

larryallen73

I keep it simple. PayPal only.

SidePocket

You can place a stop payment on a bank issued money order so they are not risk free.

bunt

<< <i>I keep it simple. PayPal only. >>



Agreed. Why even deal with the risk, and hassle of manual required bank deposit with the 5 day wait thing. This thread wouldn't exist if there were no concerns with MO's.

swartz1

taking a money order is a no-brainer...

no risk on your part, only by the buyer...