Any Reason a Postal Money order might not clear ?

I bought a coin on this board and the seller took it to the post office and they said it wont clear. He didnt say any reason. Has this happened to anyone ? It kind of has me concerned as the money order is good.

Thanks

 

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No reason what so ever. Good luck!

 

Yeah I cant think of any reason either.

 

Guess if worst comes to worst he can just send me the MO back and I will take it to where I bought it and raise hell with them.

 

It will not clear if it is on their list of known stolen or fake MO's.

 

I didn't get an explanation of why it took 2 weeks for a payment confirmation, but I also used a U.S Postal money order. Never had this trouble in the past since a M.O. is considered as good as cash...

 

that is not 100% true. i work for a bank and we process a money order and cashiers check pretty much as a check. so if a persons account is not in good standings or has many over drafts or a history of non sufficient funds we will require a hold on said MO or cashiers check. now 2 weeks is an awful long time for it to clear. the longest we would have a hold would be 7 business days on a very delinquent account

 

I'm glad to see that this question has been posted but taken aback by the responses given. I am the one who sold a coin and received the money order and I assure you anything can happen in this time of internet and electronic technology.

The postal lady I took your money order couldn't give me a reason for why it wouldn't clear. That doesn't mean that I am a rip off and I am really pixx-ed!! that some of you responders would once again just answer blindly!!

My word is my bond!! This money order will clear! The postal lady did say that she called an agent back East to find out what the problem could be. I don't know why she called back East instead of in WA. I didn't ask. It could be a computer glitch or any number of things.

goldcollector,
My word is my bond, but if you are leery for any reason at all just let me know so I don't try to cash a mo that has a stop payment on it. My name, drivers license number and everything else is on that mo just like I told you. If you want to back out of your purchase, just let me know.

I may joke around alot but when it comes to transactions of any kind I am totally honest!!!!!!!!!!!!!!!!!!!!!!! My word is my bond!!!!!!!!!!!!!! later

 

Fretboard - I think you are taking this all wrong. I don't read where there is any attack on you and I'm sure the responders also feel this way. The answers provided are in response to the different things that can happen to a money order.

As for what happened here, I'm confused. There is no mention of what kind of money order it was - post office, bank, AMEX, etc. Was it taken to a post office to be cashed instead of a bank? When the postal lady said it won't clear, is this before or after it went through their system. Perhaps the seller should get the MO back and deposit it in your bank account and see if it makes it through the system. Just a thought.

 

Well ty for your response and you're right there isn't a direct attack on me. It's a US post office money order. I was gonna cash it prior to mailing out the coin is all and yes I took it to the post office instead of the bank. My thought was that if I took it to the post office to cash it then it would go through faster and I could just mail off the coin faster at the same time.

The postal lady only told me that it wouldn't clear. I asked if the money order was stolen and she told me she didn't know. I can't assume to know what she meant by it wouldn't clear but by all indications, I took it to mean that it just wouldn't enter, not that it was refused.
She said she called an agent back east and I took that to mean another way to accept the money order or maybe it's policy, I don't know.

All I know is that I was at the counter for around 20 minutes, and the lady came back and told me it wouldn't clear. Seeing as computers have glitches all the time, that's what I think it was. thanks

 

Fret, nobody was attacking your integrity. The commentary was totally on why a money order could, would, or should clear. I saw nothing directed at you. Peace buddy......you'll put yourself in an early grave.

 

I would think it would be very easy for a postal money order to fail if the orignating post office doesn't accurately input the serial number, amount and date in to the system. I never really watched them close enough to observe how error-prone the process might be. I would take it back to the originating post office and have it replaced.

 

That was my thoughts as well. They do have to enter them into a system. Could very well be human error.

 

Yes green18,
Apologies to all who were offended, not my intention at all. Rootbeers all the way around bartender! thank you green for pointing that out, I really got to watch that anger. :kewl:

 

I can think of only four reasons.

MO was stolen, does not appear to be the case here.

A stop payment order on the MO, also does not appear to be the problem.

If the amount is too large the PO will not cash it at the window, and you would have to deposit it in the bank.

human error entering information into the system. And I would expect that error to be on the cashing end not the purchasing end. The purchasing amount and serial # are entered into the system and I believe printed on the MO at the same time. But if at the cashing end they enter the wrong # or amount it won't match what is in the system. If the wrong info was typed in at purchase that same wrong info will be printed on the MO and the sytem should still find it if re-entered the same.

 

Who is telling you it won't clear? a bank? or the Post office? The only reason a postal money order won't clear is if it is "stolen" in which case either the bank or the post office would have notified you and held the money order.

 

wow, this is a first, I never heard of a problem with a postal money order before. I use postal money orders a lot, mainly because if someone messes with them they are committing a federal crime, and here in Illinois, there is so much corruption that you cant hardly trust the legal system much.

 

No man, I wasnt trying to suggest anything against you. I have just had trouvles in the past with the post office, like them losing a package and refusing to pay the insurance that had been paid for. Why buy extra insurance on a package when they wont pay the insurance ? I wasnt trying to accuse you of anything. Just mad at incompetence of post office sometimes. No reason for it not to clear, I am confident it will today.

 

goldcollector,
I sent you a PM, not a problem it was cashed today and I sent off your coin. enjoy!!
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I can't believe how much trouble I had cashing a simple money order! I stopped by there this morning and the post man told me, "oh you'll have to come back at lunch time, I don't have that much cash". Unbelievable!! Anyways, I went there around 4:15 today and it was cashed. I'll tell you, it didn't seem like the PO likes cashing money orders maybe it's alot of work for them. I don't know, but my view point is still the same. They issue them so they should be ready to cash them. They should be especially ready since there has been so much fraud with checks, stolen money orders and just electronic abuse in general. :bow: Oh incidentally I went by the PO by my wife's office to save time that's where all this stuff happened. I don't think I will go to that location anymore, just a thought.