[Milsurplus] Re: Money Orders

[Radioman390 at cs.com]

One thing you should know:
Money Orders by everyone EXCEPT the Post Office are actually bank drafts 
(essentially a check), so that the money is not available immediately when you 
deposit it in a bank. It has to "clear" and may bounce. The MO companies often 
draw these on farawy banks so they can collect more interest.

One Mony Order company here in New York went belly up few years back leaving 
some $21 Million in bad checks. Since they marketed to poor neighborhoods, a 
lot of people lost their rent money, etc.
Fortunately, the NY Attorney General stepped in and convinced landlords to 
not evict tenants, but the tenants nevertheless had to make good on the bounced 
MOs.

When you get a USPS Money Order, they can cash it for you at any Post Office, 
since they scan the number and can verify that it was properly issued and 
hasn't been altered. They will require ID.   
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