Question about money orders

[Backlash]

I usually only accept PayPal for my ebay auctions. Someone has asked if I'll accept money order. Is there any additional risk or reason not to accept a money order? Thanks.


Mods: Not sure if this goes in this forum; I apologize if this is the wrong forum.

[wubb]

If the MO is legit then there is no risk. They are same as cash.

The risk with a money order would be they might send you a counterfeit MO. Most banks cash and immediately credit your account for any MO deposited (so your balance will show the increase) but in a week+ when they find out the MO is counterfeit they'll yank the money from your account.

Postal Money Orders are probably the least likely to be counterfeit and you can cash them at any PO. (I just deposit them though as it's much more convenient.) I think some cashier checks from banks look pretty much like a check printed on plain paper. Shouldn't be allowed IMO.

I specifiy postal MOs only (and don't check the MO/Cashier's Checks box - I check Other and detail postal MO only in the payment details.) But in practice if I get a different type of MO (it's almost always a Western Union MO in these cases) I just go ahead and accept it and send their item straight off. Exception (to accepting other than a postal MO) for me would be if the buyer gave me a strange feeling for some reason or it's a pricey listing for me with a buyer that has 0 to very low FB. Haven't had that situation yet.

[iazybandit]

I agree, there is nothing wrong with MOs. Some people dont like PayPal or never used it so MO is the only source of payment. MOs are rarely counterfeited but I would suggest watching out for Western Union. If you do, go to a Western Union to have it cashed. If the item is pricey and they do have low to 0 feedback, be cautious

[wubb]

Just FYI but many WU agents will not cash a WU money order. I couldn't find one around me that will. Unless this has changed in the past year or two, but I doubt it has.

[Backlash]

Thanks guys.

[retail sucks]

USPS money orders are the only M.O. I'll use or accept.

1). You can cash them at any post office.
2). Their only $1 + tax.
3). No account is required.
4). Their 100% refundable if lost.
5). Positive ID is required.
6). USPS can track whether their cashed.
7). Items can be shipped & the m.o. cashed in one trip to the post office.
8). Plus you can file mail fraud via USPS.

I agree, there is nothing wrong with MOs. Some people dont like PayPal or never used it so MO is the only source of payment.

Yep, i use them because I like to keep my banking info off the net. I actually had an ID theft through PayPal once, using it on Ebay, via confirmed address. I had about $4000 in bank at the time, using my Master Card debit. They logged onto my account and even tried to make purchases. Paypal customer service acted like idiots, and their only suggestion was to change my password, duh, like i didn't do that every week anyway.

So all of my Ebay purchases, & trade site purchases are via USPS money order "only". I'm not saying Paypal is bad for everyone, it's just that I'd use a non-primary banking account.