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Verifying Money Orders
Posted on 2/18/13 at 3:16 pm
Posted on 2/18/13 at 3:16 pm
I've got an individual wanting to purchase a $1,500 item from me. The gentleman just moved here and according to him, is unable to access the cash today. He purchased money orders with his debit card today and wants to pay with them. If we meet at my bank and they cash them, what risks exist? Can money orders bounce like checks?
The guy seems sincere, but that's not enough for me. Any insight is appreciated.
The guy seems sincere, but that's not enough for me. Any insight is appreciated.
2
Posted on 2/18/13 at 3:26 pm to OldHickory
Anything can bounce if it's fake.
Why didn't he just bring cash ? Tell him to go to a check cashing place and pay to cash it. That way its on him and not you.
Why didn't he just bring cash ? Tell him to go to a check cashing place and pay to cash it. That way its on him and not you.
This post was edited on 2/18/13 at 3:29 pm
Posted on 2/18/13 at 3:29 pm to OldHickory
can take a few days sometimes to run through, just like a check. I have seen money orders bought for $1 re-written for higher values. Relative that runs a business has seen these a few times.
Posted on 2/18/13 at 3:31 pm to thelsutigers
10-4. That sounds like the best course of action.
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