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Posted: 2/23/2006 4:55:34 PM EDT
Personal checks are usually held to make sure they are good before shipping product.

Would this apply to CC and MO also? there have been many scams which people send fake MO these days.
Link Posted: 2/23/2006 4:58:00 PM EDT

Do you trust that they are real? Personally I hold out until I have the cash in my hand.
Link Posted: 2/23/2006 5:00:56 PM EDT
Hold until cleared and cash removed. Especially if from a foreign country.

Even then a bank can FU with a reverse transaction. USPS MO are the way to go, except the dumbasses usually can't cash more than $200 without prior approval, and even then want your ID to do so. So much for private transfers.
Link Posted: 2/23/2006 5:05:26 PM EDT
Any more? Yes, unless you really know the person tendering it, or can exchange it for cash someplace other than a bank where you have an account. Most of us have no idea of the stupendous amount of counterfeiting going on these days.
Link Posted: 2/23/2006 5:15:52 PM EDT
I think you'd be safe if it was an US postal money order, but any others I'd hold until I got the cash.
Link Posted: 2/23/2006 5:20:50 PM EDT
[Last Edit: 2/23/2006 5:22:26 PM EDT by rkbar15]
USPS money orders can be counterfeit too. Cash them at the PO before shipping the item.

www.usps.com/postalinspectors/mofeatur.htm

www.fdic.gov/news/news/SpecialAlert/2005/sa2305.html
Link Posted: 2/23/2006 5:22:59 PM EDT
The only cashiers checks that I won't hold for clearance are the ones from Nigeria, I have found them to be quite a reputable bunch to trade with.......
Link Posted: 2/23/2006 10:51:58 PM EDT
It should not be held for 7-10 days though. That is bullshit.
Link Posted: 2/24/2006 8:36:34 AM EDT
If it's from a large bank, just go and cash it in person. Save yourself, and the other person the wair of your bank having to do it.
Link Posted: 2/24/2006 8:41:11 AM EDT
I only take Postal Money orders if they want to send a check or money order. I cash them at the Post Office and do not wait for them to clear.

Av.
Link Posted: 2/24/2006 8:43:20 AM EDT
Call the bank from which they are issued.
Give them the serial number on the check, and the name of the person who bought it.

They can tell you if it is valid.

After that, why worry about it?

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