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LWMM · September 20, 2007 1:55AM

I bought a card nearly a month ago, and yesterday asked the seller when he shipped it.

His answer:
i just received your mopney order about 2 weeks ago. I had to wait for it to go thru my bankl. i will mail this card on friday. i'll hook u p with some bonus cards thanks

Does a money order have to clear? I've always been able to walk in and cash them. Nonetheless...

My response:
I sent cash.

1989FleerBillRipkencollector · September 20, 2007 2:00AM

Some just deposit them in the bank via ATM and want them to clear to avoid fake M.O.'s which have poped up. I once had a guy hold my USPS M.O. that was for like $5 for 2 weeks. Yeah, Im gonna make a $5 M.O. LOL

lawnmowerman · September 20, 2007 2:01AM

I hear cash is just as good as money!

He is either confused or just not being very truthfull. I would go with the latter.

bhelser · September 20, 2007 2:19AM

Money Orders are treated the same as checks. I used to work at a bank and all Money orders (unless manager approved) have the normal 24 hour hold....unless the account you are depositing it into requires it to have anywhere from a 3 day to 2 week hold. Really depends on the account and the amount of the Money Order. Most (if smaller amounts ie. under $100) should be available next day.

baseballfanatic · September 20, 2007 2:20AM

Money orders have to clear, but 2 weeks seems to be pushing the envelope a bit.
With all the forgeries out there, you just cant depend on a money order being legit anymore

MuckyMutt · September 20, 2007 2:20AM

"Hi, I just got your cash 2 weeks ago and had to wait for the ink to dry."

bullrat · September 20, 2007 2:21AM

Banks are getting very leary of MO's because so many fakes out there. My bank threatens to hold them until cleared - don't think they really do though, but that's another story. I take Postal MO's to the PO to cash. Got a Western Union MO, in my area grocery store sells them, so went to grocery store and they would only cash it if it was bought at that store. Usually on anything other than Postal MO, I deposit it and hope it clears.

If you really paid cash, looks like seller has bent you over.

shagrotn77 · September 20, 2007 2:32AM

What's up with sellers still holding checks forever for them to clear. I have Bank of America and checks ALWAYS clear my account the next day. I mean every time. Now I know all banks aren't alike, but I think it's ludicrous to hold a check over a week. I see some sellers will hold them for 10-14 days, and that aint right.

bullrat · September 20, 2007 2:49AM

<< <i>What's up with sellers still holding checks forever for them to clear. >>

If you deposit a check, generally takes about week to get notice from the bank when it bounces.

Brian48 · September 20, 2007 3:23AM

I live in MA, but my bank is actually in NC. It's normally takes a little while for my deposit checks or MO's t finally hit my account.

diamondman · September 20, 2007 3:24AM

I had a personal check that I took take 3 weeks to bounce on me for 125.00 dollars and as far as money orders go if it is a postal M/O which I prefer , I take to the post office and cash it. If it is another type of money order I look at the buyers feedback, if he has good feedback I ship within 2 days . I don't take personal checks even though I still get one now and then, which I email the buyer there is a 2 week wait for the check to clear and then I will ship. Just my policy.

bigfische · September 20, 2007 3:37AM

With checks, you can always have your bank, call their bank to see if they have the funds.

Mrcardsniper · September 20, 2007 3:54AM

I recieved a Postal Money order for $680.00 and went to the Post Office at noon. The postal worker first treated my Green U.S. Postal money order like it was a fake. Than walked into the back and came out 5 minutes later. Only to tell me they did'nt have enough cash to pay me for the money order. I told them I would be back tomarrow and hoped they will have it the next day. If they did'nt I would accept payment in stamps. Well the next day I got my cash.

bhelser · September 20, 2007 3:55AM

<< <i>With checks, you can always have your bank, call their bank to see if they have the funds. >>

with all the fraud out there.....a lot of banks will not divulge this info over the phone. I had plenty of phone calls out to other banks while I was a teller and they wouldn't tell me anything about the account....they couldn't even confirm if this person had an account there

bullrat · September 20, 2007 4:10AM

<< <i>they did'nt have enough cash to pay me for the money order. >>

Depending on the time of day and the amount of the MO very believable that they wouldn't have enough money to cash it. POs are required to deposit almost all their money at the end of each day so in the mornings they have any hardly money. My PO couldn't cash a $50 MO yesterday morning.

rube26105 · September 20, 2007 4:19AM

ive never had a problem getting a postal $ order cashed at bank or po, stick in tube, out come $,that takes him two weeks?, he s lying like a rug-ive had a few checks bounce since 1999,no biggie, i fugure if you are a crook itll catch up to ya soon or later

I hear cash is just as good as money!-ok matt/yogi lol-i like that commercial!
randy

cohocorp · September 20, 2007 5:01AM

there are alot of fake money orders and bank checks going around.

Leiascards · September 20, 2007 6:52AM

My bank requires all money orders to be deposited with a 5 business day hold. Reason why many sellers hold for 2 weeks is some banks will put a 3 day hold or whatever. Just because the bank releases the money does not mean the check has cleared. The drafted bank can still refuse to honor the check.

Calling the bank means nothing. I can get a check call the bank it is drawn on and they can say the check is covered, what they don't know is will the person unload the account with checks still out there or what other checks may be coming in.

bullrat · September 20, 2007 7:05AM

If I'm worried enough to call a bank about a check and they tell me the money is there, I'll hop in the car and go to the bank to get the money. Banks cannot put a hold on funds, while waiting for the check you've got to come through. To me, MOs are a much bigger hassle than checks now.

LWMM · September 20, 2007 10:31AM

Got it---I wasn't thinking about fakes, so I guess that would be why. Still think he's lying, though (as opposed to just not paying attention).

His most recent message:
oh yea $3. it will be sent out friday thanks

Here's the card, if anyone's interested. link

tennesseebanker · September 20, 2007 11:02AM

It depends on the bank, But the bank I work at does not cash Money Orders unless you are a very well - known customer. We will take them for deposit, usually without a hold being put on them. The reason is, as someone said earlier, all the fake Money Orders being produced. From what I hear it is pretty easy to fake a Money Order.
That being said, I cant imagine why a bank would hold a Money Order for Two-weeks. The only reason I can even fathom it, is a very large check, or Money order, In excess of $5,000. Anything not in the local fed zone can be held for 11 business days.

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