On Fri, 24 Jan 2003 chris@xxxxxxxxx wrote:
> While it might seem "paranoid" to worry about a money order,
> particularly after cashing it and receiving money in hand, I'm told by
> my credit union that it takes up to 30 days for the money order to
> "clear" back through the foreign bank and, in the meantime, it IS
> possible for the original purchaser to "cancel" or put a "stop
> payment" on the money order.
It's not that simple. I've tried putting a stop on a money order when a
deal I was making started looking bad. I was dealing with American Express
and there is at least a 15 day waiting period before the "stop" takes effect,
and then an even longer period before you get a refund. That gives them time
to ensure it hasn't been cashed. If it has, then you're out of luck. As a
seller, as long as you cash the money order as soon as you get it, you're
probably quite safe.
-mark
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