Safest form of Payment

[Putty]

What are your most common form of payment if you want to be safe? Check, Money Order, CC? as Pertains to USPSA classifieds purchase from private party.

[YukonGlocker]

I usually request/send a United States Post Office Money Order.

[Chris Keen]

In the last couple of years I've sold lots of stuff on the classifieds here, and I've received everything from cash, to checks and money orders from fellow BE'ers.

Checks being the most common option if given a choice.

[D.Hayden]

You say safest.. I think it depends if you're the buyer vs the seller.

As a buyer... none of those give you any recourse.

Scammers, will generally insist on USPS Money Orders, or Cashiers Checks.. for that reason. But that's also why legit folks want them too.

[boo radley]

I think it depends on how much $ you're talking about, IMO, and with whom you're dealing. I've never had a problem on Enos, and I've bought and sold the odd item, and sent/received cash, checks, money orders....

But in general, pretty much anything can be forged.

I will say that a requirement to send a USPS Money Order only, is an extreme turn-off -- I have to want something pretty badly to take time out of my business day and stand in line in the Post Office.

[Chris Keen]

Agreed. That's why I like to give buyers the option of sending a personal check if they wish. And I have never been burned here on Enos. Although some folks are set in their ways, and still send money orders. To each his own.

[zhunter]

When dealing with Enos people, I accept checks, and never wait for them to clear, just send the item. I trust you guys!!!

I send personal checks as it is easier, and expect them to clear before an item I purchase is shipped tho.

[YukonGlocker]

You say safest.. I think it depends if you're the buyer vs the seller.

As a buyer... none of those give you any recourse.

Scammers, will generally insist on USPS Money Orders, or Cashiers Checks.. for that reason. But that's also why legit folks want them too.

There are many scammers using fake money orders and cashiers checks. Very few of them are creating fake USPS money orders.

I run an internet based business, and USPS money orders are usually safe.

As stated above, it really depends on the amount and who you are dealing with.

I would feel safe with a check from most members on this site.

[YukonGlocker]

One more thing:

The reason I usually like to send a USPS money order is not only to guarantee the money to the seller, it protects me.

Your check usually has your name, address, phone number, checking account number, and routing number. It doesn't take much more to have access to your account.

[D.Hayden]

There are many scammers using fake money orders and cashiers checks. Very few of them are creating fake USPS money orders.

I run an internet based business, and USPS money orders are usually safe.

I meant scammers who are sellers..

And I agree with creating fake personal checks is way too easy.. especially if you have access to the right equipment..

[YukonGlocker]

Oh yes. A seller that never ships the product is really fun to deal with!

They are hard to track down whether you use a check or MO.

[Putty]

So really, all said and done, I take a risk whether I send the seller a check or money order as recourse is minimal to non-existent in both instances if he/she decides not to send the item....right? BTW $200 item.

[Nik Habicht]

So really, all said and done, I take a risk whether I send the seller a check or money order as recourse is minimal to non-existent in both instances if he/she decides not to send the item....right? BTW $200 item.

Yeah --- but if you don't know the seller/he doesn't have a known reputation here, spring for the money order --- no need for your checking account info to be floating around out there. I've sent checks to people on this forum; but I usually only send checks to the few businesses I have relationships with, who aren't modern enough to accept online payments. PECO (PA Electricity/Gas) comes to mind here --- since they employ a third party to do their internet payments --- and those knuckleheads want $3.50/transaction.....

[EricW]

The money order has it's ups and downs. If your MO gets lost in the mail, you are screwed for 60+days. Pay by check or cashier's check, just cancel it, pay the man, and take the hit to your credit rating. Whenever I'm doing something on the edge of my comfort zone, I send the funds via USPS. Then if I get screwed, it's mail fraud, which is still vigorously prosecuted.

Personally, I wouldn't do a big ticket purchase unless I'd spoken on the phone with the other party at least two to three times and gotten a good vibe each time. Most of the time on BE.com, I try to pay by personal check just because of the nightmare of retrieving funds on a money order if it gets lost (which has very nearly happened to me before).

E

[yoshidaex]

Sandoz,

pm sent

[shadetree]

One more thing:

The reason I usually like to send a USPS money order is not only to guarantee the money to the seller, it protects me.

Your check usually has your name, address, phone number, checking account number, and routing number. It doesn't take much more to have access to your account.

This is the main reason I prefer to buy with mo's.

[moredes]

You said 'safest'. If I'm sending to someone on GunBroker, or a complete stranger, and the amount is over ~$300, I'll pay the freight and use a certified check. I never use postal money orders. Big money goes by USPS Registered Mail ("big money" depends a lot on the vibes I get from the seller, but minimally, $500 is 'big money'--the Registered fee--$10, isn't even 10% indemnity). There is no security with postal money orders, and as another reader has said, you could be stuck for 60+ days waiting for their investigation. What will your seller do, wait for the dust to clear if yours gets lost?

USPS Money Orders are almost as bad as business money orders (Wal-Mart, KMart, Western Union, Bidpay). There is only belated security with USPS Money Orders. 1)You can't cancel them for 30 (or is it 60) days. I haven't worked at the Post Office in 30 years, so I've forgotten--and I don't much pay attention to them anyway. I have numerous soon-to-be-apparent reasons. Besides not being able to stop immediate payment, 2) you can't track them immediately. 3) Claims for lost or stolen MO will not be resolved for at least 30 days after the waiting period (they must pass a deadline in order to be declared 'officially' missing). One cannot file a claim until that time has passed. 4)If the postal employee (window clerk or delivery carrier) neglects to write the signee's name, ID type, or number down--or can't read it, there's a gray area about whether the deliverer is actually responsible--many "illegible" claims are just that--transposed or 'illegible' (and now, during their investigation, "misread") 5) any recorded ID numbers are used as validation that the clerk performed their duty, but accepted a false ID (which removes the USPS from all fraudulent responsibility--no one says the USPS must be expert in detecting false IDs). Have you heard this one before--"Oops. Looks like we cashed that on a false driver's license... sorry about that." (read that as, "your sale is toast")

I'll only cash them at the post office. It is the only place where a moderately-current list is kept of stolen, lost, and forged money order numbers--it is the only place that can check to insure that the paper you hold is absolutely good--and therefore, it's the only place you should cash a postal money order (and you should wait late in the day to make sure the post office you go to has enough cash to cash a large money order [for example, don't expect a small town to have $800 cash in a single teller's drawer by noon--it may not be late enough to accrue enough sales]). If you deposit a fake money order, your bank won't validate the money order immediately--they'll cash it against your balance--that is, it could take 10 to 30 days after acknowledged delivery for the bank to receive confirmation from the Post Office that the money order is legitimate and that the funds are actually good. (there are some sellers out there who've been burned by forged or stolen money orders--when the bank debits the fraud amount against their personal accounts). But this is the least of your worries as a buyer--#1-5 are good enough reasons for me to use cashier's checks. I will not use USPS Money Orders except when the sale is for 'cheaper' items--$50 or less. If a seller insists on a USPS MO, especially on high-dollar items, I walk. What, they don't have a bank account?? If they're in that much of a hurry, they'd be selling locally.

Edited September 20, 2007 by moredes