Re: [CR]The problem w/ USPS M/O's (was FS: 36 x 24 VAR taps)


Example: Framebuilding:Norris Lockley

Date: Tue, 25 Oct 2005 15:45:58 -0700 (PDT)
From: Thomas Adams <thomasthomasa@yahoo.com>
Subject: Re: [CR]The problem w/ USPS M/O's (was FS: 36 x 24 VAR taps)
To: classicrendezvous@bikelist.org
In-Reply-To: <20051025203046.XTAM19326.priv-edtnes56.telusplanet.net@[161.184.42.245]>


The key point here is that the money orders were counterfeit. The USPS does guarantee payment, but obviously only of the money orders they actually issue. Can't blame them if the counterfitters have progressed to faking postal mo's. Amex also won't pay on counterfeit travelers cheques, either.

The online crooks are hurting everyone, buyers and sellers alike, but the sellers suffer more per person with their goods gone and chances of recovery being pretty slim. Someday it may only be possible to do business with folks you know personally.

Tom Adams, Shrewsbury NJ

Paul Woloshansky <bikwalla@telus.net> wrote: Re.
>>[CR]FS: pair of like-new VAR BB taps, 36 x 24
>>
>>$100 Canadian takes them; note I've had problems with USPS money orders in
>>the past so I can only accept Canada Post M/O's (or cash). Send me your
>>postal code so I can calculate the parcel postage from Calgary to you (the
>>price is very fair, so you'd have to pay the postage).
>>Cheers,
>>Paul Woloshansky
>Paul:
>What problems have you had with USPS Money Orders? It's a Federal crime to
>counterfeit one. Pretty safe method of transferring money, or so I've
>always believed, anyways....?

Hi Greg, My bank here in Calgary (CIBC, @ 2318 Centre St. N., Calgary, Alberta, T2E 2T7) told me that they had had a number of USPS M/O's "come back", meaning that they were not 'good'/counterfeit and returned to the bank, who then had to debit the account of the person who'd brought in the cheque to be cashed, in order for the bank to recover *their* money, meaning that the person who had been given the cheque was now out that amount.... I was told by a bank employee that it was risky to sell over the 'net and accept USPS m/o's, due to the fact that I might be out the money, as well as the goods that I'd sent off in good faith. She also said the problem lies in USPS not guaranteeing payment, as AMEX does for its traveller's cheques, which means USPS negates the value of the whole exercise.
>You would want to only accept the pink, International ones....
>Greg Parker
>Dexter, Michigan News to me; I'll ask about these, even though it's easy enough to cut a cheque in equivalent US funds, but the issue seems to revolve around whether or not the M/O's are guaranteed payment or not.

As far as my bank deducting a fee: they do but it's small, not like the enormous amount taken if money is wired to Canada, where the Bank of Canada takes an initial big bite, followed by the receiver bank.

Cheers,
Paul Woloshansky