I purchased a Travelers Express Money order for a set of grips purchased on auction arms, The money order was purchased on 12/19/04 and mailed on 12/20/04 when the money order did'nt arrive I contacted travelers express only to find out that if your money order is lost it is going to cost $12.00 to get it replaced and takes up to 90 days. They also stated it is subject to review and not always replaced, but you have to pay the $12.00 to find out if it will be replaced or if you are out of luck. If they decide to not replace it they will not refund your $12.00 and you are out more money. Just something to think about when sending money orders.
THAT'S WHAT I HAVE BEEN SAYING. YOU GET THEM AT A STORE OR THE POST OFFICE SAME O SAME O. THEY ARE HARD TO TRACE. LOSE YOUR RECEIPT AND YOU LOSE YOUR MONEY. SOMEONE GOT THE MONEY ORDER, CASHED IT OR DEPOSITED IN THEIR BANK ACCOUNT AND THEN THEY SAY THEY DIDN'T GET IT. HAPPENED TO US, LucysBargainBox@aol.com EBAY. SENT HER A MONEY ORDER, SHE SAID SHE DID NOT GET IT. WE LOST THE RECEIPT COULD NOT TRACE IT THUR THE STORE. HAD TO SEND ANOTHER ONE. HAVEN'T RECEIVED THE ITEM YET. GET CASHIER'S CHECK OR MONEY ORDER FROM YOUR BANK, YOU HAVE A RECEIPT IN YOUR HAND AND ON FILE AT YOUR BANK.
I do not know about the others but "Travelers Express Money Orders" stated that even with the recept they might not refund your money or re issue the check but if you send them the $12.00 they would review it.
The postal system lost a priority letter from me containing a postal M.O. for 240$. They charged me 3$ to investigate it and told me it would take 60 days to complete. I wished I could use someone`s money for 60 days interest free plus charge them 3$ to do it. Of course, I realize that some people try and scam them so, it does take time to check out things but, charge me for THEIR mistake???
Also beware of 'limited recourse money orders' These are those given at conveniance stores. Usually some off the wall names. If you read the fine print, you will see that the company can reach into your bank account and take the money back if for some reason they decide you shouldn't have been paid. I only will accept PO MO, or bank draft (teller check) or Bank M.O. or commerical M.O. without the wording 'limited recourse' on the endorcement side.
I have used travelers expreess M.O.s over 500 times , no problem with them , they will tell u if the M.O. has been cashed, Just use their web site , An replacement only cost me $9.00 once for a refund , lost in the mail,just my 2 cents worth ,
It looks to me like a seller is better off to accept a personal or business check. My bank can tell me within a few hours if it is good or not. Don't need to wait for the mail anymore, Not such a thing as the float on checks. All being done electronically. The thing of waiting 10 days for a check to clear is old news. Only takes a few minutes now. Should change the way sellers do business.I am going to start selling soon and will most certainly take a personel check from anybody. TKS
i too hate these off the wall money orders have had to have the bank check some of them out? i am amazed at how many people send cash through the mail! i think if you were to do much selling credit card or electronic auction payment would be a necessary item.