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Accepting Money Orders or Cashier's Checks

 
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hamptontoys



Posts: 25

PostPosted: Thu Sep 05, 2013 9:13 am    Post subject: Accepting Money Orders or Cashier's Checks Reply with quote

I received a payment with a money order. The shipping address is in a different state than the person placing the order.
Is it safe to accept money order payments or cashier's checks?

thank you,
grace
Hampton Toys
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FoxAndFish



Posts: 1583

PostPosted: Thu Sep 05, 2013 10:08 am    Post subject: Re: Accepting Money Orders or Cashier's Checks Reply with quote

hamptontoys wrote:
I received a payment with a money order. The shipping address is in a different state than the person placing the order.

Did you work that out with the customer beforehand? If not, can you contact the customer for clarification? What is your store policy on shipping to a destination other than the billing/ordering address?

hamptontoys wrote:
Is it safe to accept money order payments or cashier's checks?

There is risk in everything, so it's impossible to say. It depends on the type of money order and cashier's check, as well as the type and cost of the product. What type of money order is it?

I accept only US Postal Service Money Orders, which can be cashed right away at any post office (providing they have the $ in the drawer). If it does not go thru their system immediately, the product doesn't get shipped. I would never accept Western Union or any other money order.

For cashier's checks, you can call the issuer and make sure the $ has been paid out and is cleared before you ship the product.
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hamptontoys



Posts: 25

PostPosted: Thu Sep 05, 2013 11:53 am    Post subject: Money orders & cashier's check. Reply with quote

I have it set with eCrater to accept money orders & cashier's checks. I don't see an option to accept only post office money orders. I suppose I won't ship anything if I have a problem cashing or depositing the payment.

grace
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SammysSupplies



Posts: 1631

PostPosted: Thu Sep 05, 2013 12:19 pm    Post subject: Reply with quote

Just depositing it doesn't mean the money is there. You should wait until it clears.
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SheilaDeesPostcards



Posts: 4218

PostPosted: Thu Sep 05, 2013 12:58 pm    Post subject: Re: Money orders & cashier's check. Reply with quote

hamptontoys wrote:
I have it set with eCrater to accept money orders & cashier's checks. I don't see an option to accept only post office money orders.
The "option" would come from your Terms of Service. You would need to add information regarding your terms. Then, when an order is received with payment indicated as via money order, send an email to let the customer know the type of money orders accepted and the length of time the item will be held pending payment. Remember, unless you place the item on hold, it's still available for sale to someone else.

hamptontoys wrote:
I suppose I won't ship anything if I have a problem cashing or depositing the payment.
If you cash the MO at your bank or you deposit it into your account, you may have your money immediately, but it can take up to 10 business days for the bank to get their money. If the bank is unable to get the money because the MO was stolen or the person issued a stop payment, then the bank will deduct the amount from your account. If it is a US Postal Money, you can cash it at the post office and they check to confirm the MO before cashing. I have found that if the MO is purchased at Walmart AND is made out in my name (rather than my store name), I can cash it at my local Walmart. Therefore, I will cash US Postal MO or Walmart issued MO, but hold shipment for up to 10 business days for all other MOs.

hamptontoys wrote:
The shipping address is in a different state than the person placing the order.
I would communicate with the buyer about the difference. When the customer purchased the MO, they probably had to provide a Photo ID and the address would be from their ID. The toy may be a gift going to a family member, the customer may have moved and haven't changed their ID yet, or any number of other reasons, but I would want to know from the buyer why the addresses are different.
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MoonwishesStore
moderator


Posts: 17033

PostPosted: Thu Sep 05, 2013 5:46 pm    Post subject: Reply with quote

I've never had a problem with a MO or cashier's check, but I too would be especially cautious when seeing the different addresses. I took the MO option down on my store when so many UK orders came through saying they would send a MO and then I had to email them that it had to be in US funds as my small town bank charges the earth for foreign checks/MO. So I turned off that option and now I have some customers that write asking if they can send one and so I have some contact with them first and I think that helps.

Western Union MO have been used in those Nigerian scams of we will send you this beg MO and you cash it and send the difference back to us from what we owe and also ship the goods. It always turns out that the MO isn't any good and you are out your product, money and bank fees. A girl in a nearby city ended up taken for over $4000 dollars when trying to sell her car.
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tigercreekgifts



Posts: 6293

PostPosted: Thu Sep 05, 2013 7:45 pm    Post subject: Reply with quote

No, there is no option to select what type of MO you will accept on ecrater. All you can select is Money Order, and you have to use your terms and FAQs pages to let the buyer know what type you will accept. I don't have that option checked but occasionally when asked, I might accept an MO but only if it's through the USPS. I used to accept them all the time and I put USPS Only in my terms. I know that some buyers don't even read our terms pages so I would remind them USPS only when I'd email them to confirm their order but some people would still send in Western Unions anyway.

Then when I emailed them and told them for the 3rd time that I would only take a USPS MO and wanted to know why they sent me a Western Union, they wanted me to send the MO back to them which means they want me to pay for a stamp to send it back so, I'm out the price of a stamp with no sale so those orders ended up costing me 45 cents for no reason. Now, If someone sends me something they were repeatedly told not to send I won't pay to send it back to them anymore. They can either send me the postage for it through Paypal or I will void the payment and throw it away and most people get really upset over that so, MOs seem to cause more trouble than they are worth. Can you even get a refund for an MO if you go back to the place where you bought it and tell them the seller wouldn't take it?
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PegsBUTTONS



Posts: 721

PostPosted: Thu Sep 05, 2013 9:16 pm    Post subject: Reply with quote

tigercreekgifts wrote:
No, there is no option to select what type of MO you will accept on ecrater.

yes there is..
when you check the box money order in the box next to it I have U.S.P.S money orders only.. payable to my name and address and those are the only ones I have received
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elpereles



Posts: 3405

PostPosted: Thu Sep 05, 2013 11:05 pm    Post subject: Reply with quote

I don't have problems with MO, but be careful. Two different address without explanation is other thing.
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SheilaDeesPostcards



Posts: 4218

PostPosted: Fri Sep 06, 2013 5:15 am    Post subject: Reply with quote

PegsBUTTONS wrote:
...when you check the box money order in the box next to it I have U.S.P.S money orders only.. payable to my name and address and those are the only ones I have received
Excellent Idea! Thank You, Peg ...
I'm going to do that myself along with the information on the terms and FAQ pages.
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MoonwishesStore
moderator


Posts: 17033

PostPosted: Fri Sep 06, 2013 7:55 am    Post subject: Reply with quote

Quote:
when you check the box money order in the box next to it I have U.S.P.S money orders only.. payable to my name and address and those are the only ones I have received


Hey, thanks for the idea. I just added in the MO option for USPS MO only which would eliminate UK ones. Never realized I could do that.
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