[Milsurplus] Re: Money Orders

[sdaitch at mor.ibb.gov]

Perhaps the operative word is "cashed."

On the 19th, I deposted two checks in my North Carolina Bank of America account at a BofA branch in Oklahoma City, one check was written on Wachovia in DC, the other on AmSouth in Tennessee, with not a single question asked.  

When the USPS looses mail, I usually lose money, when the banks lose a check, I usually gain!

73
Sheldon

----- Original Message -----
From: Joe Foley <redmenaced at yahoo.com>
Date: Wednesday, May 23, 2007 6:48 pm
Subject: Re: [Milsurplus] Re: Money Orders

> I ONLY take USPO Money Orders for E-bay purchases, for
> the last I don't know how many years!
> 
> It is much easier for everyone if the banks aren't
> involved, they're crooked, too.
> 
> I can get a USPO MO traced much easier, too.
> 
> I can't get my bank or any other bank to cash
> out-of-state checks.  They are under NO obligation to
> cash ANY check not even their OWN!!!  Their is NO law
> to force them to either.
> 
> Joe
> 
> 
> 
> 
> --- Radioman390 at cs.com wrote:
> 
> > 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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