money orders safe?

basss · #1 03-22-2005, 08:33 AM

We've all heard about the fake money orders floating around. Are they safe to accept anymore? I have someone from the UK interested in buying a portable DAT recorder I have for sale. He wants to pay via money order. Can I check the authenticity of the money order at any bank?

Selta · #2 03-22-2005, 05:06 PM

Quote:

Originally Posted by basss

We've all heard about the fake money orders floating around. Are they safe to accept anymore? I have someone from the UK interested in buying a portable DAT recorder I have for sale. He wants to pay via money order. Can I check the authenticity of the money order at any bank?

Just tell him you're going to wait for it to clear... take it to a tellar at your bank and cash/deposit it right there... wait a few days, check your account and make sure you have the funds, then send away... that's generally what I do if I feel it's awkward...

Ray

**SoComSurfing** · #3 03-22-2005, 05:21 PM

The safest and easiest way from out of the country would be to have a wire transfer sent from his bank to yours. If you present a money order from outside of the states, your bank is probably not going to cash it, but take it for deposit only. In this case, there will be a hold placed on it, up to 11 business days, depending on the amount and your relationship with the bank.