SilkMoth
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posted on January 31, 2001 01:11:39 PM new
This has probably been covered before, but I don't know the answer and can't find it immediately using Site Search.
I've received a pink Canada Post Money Order in U S dollars in payment for an auction. I deposited it and my bank returned it as "Uncollectable: Foreign instrument."
I use a small bank, and they do indeed have difficulty with foreign items, but this one has what looks to be a Federal Banking System routing number on the bottom.
So now what? It has markings all over the back now, where the bank accepted it for deposit and then spit it back out. Is it cashable at a US Post Office? Or at another bank? And is there a "stale date" on these things? It was purchased on October 15 of last year.
(And no, I can't return it and ask for another form of payment. This particular transaction was a nightmare, he has the merchandise, and I do NOT want to reopen correspondence with him. I'd rather lose the money altogether.)
Comments? Suggestions?
Thank you -
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not SilkMoth anywhere but here
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kidsfeet
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posted on January 31, 2001 02:02:24 PM new
Your bank needs to put it through their collections department. The post office won't cash it with the marks on the back.
The money order is GOOD, it just gives some banks problems. They NEVER clear my bank. Always take those money orders to your local post office to cash.
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cdnbooks
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posted on January 31, 2001 02:51:40 PM new
Try sweet talking your local post office, they might just take it.
Bill
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SilkMoth
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posted on January 31, 2001 03:20:06 PM new
Excellent advice from both of you. Thanks!
Bill, I think I will try my PO first - they know me well. If not, I'll take it back to the bank and see what happens.
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not SilkMoth anywhere but here
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oxford
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posted on January 31, 2001 03:20:26 PM new
It appears (especially in Canada), most banks will not (or have stopped) deposit/cash POSTAL money orders; they were intended to be cashed at a Post Office, I believe.
The Canadian Money Order in US funds is actually an international one; we don't have a strictly domestic MO like the US does (i.e. a domestic and an international - green top is a domestic US PO MO, a pink is international).
Just go to the PO, and they will cash it. If THEY give you probs, then they don't know what they are doing (a common thing with PO staff).
Barb
[ edited by oxford on Jan 31, 2001 03:27 PM ]
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SilkMoth
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posted on January 31, 2001 03:21:20 PM new
What I won't do is blame all Canadians for one unpleasant person, and I don't plan to stop selling internationally.
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not SilkMoth anywhere but here
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oxford
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posted on January 31, 2001 03:30:05 PM new
Silkmoth,
I hope I'm not the one you are referring to, but I think I am! (cringe...)
I re-read my post and it did seem a bit, well, bitc*y, so I reworded it - I was trying to be just factual and it came out not as I intended.
I'm sorry....
Hope the info helped anyway.
Barb
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oxford
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posted on January 31, 2001 03:54:30 PM new
BTW silkmoth,
if you need any other help/info re payments from Canada and types of MO's we've got up here in the Great White North, feel free to e-mail me at:
[email protected]
Still feelin' bad.....
Barb
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SilkMoth
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posted on January 31, 2001 04:00:01 PM new
Ack!
Heavens!
Barb, I posted my last comment while you were posting yours, and I just now came back and read it. No no no, I wasn't referring to you - mostly to the previous threads that have ended up in "See, that's what you get for selling to those rackety rack furriners" etc.
I was trying to head off any such comments from the peanut gallery before they got started.
My deepest apologies for the misunderstanding!
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not SilkMoth anywhere but here
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imabrit
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posted on January 31, 2001 04:04:47 PM new
Here is another suggestion if you get them made out to your business as I do.
The USPS will cash those as well just sign the back as the name of the business write the word owner below and then sign it.
The USPS will take it like that.
Adrian
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marlenedz
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posted on January 31, 2001 05:33:36 PM new
Definitely take it to the PO with all the markings on the back. I had one from the Bahamas that I put through my bank that they kicked out and I took it to the PO and they scratched the markings out and cashed it.
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reddeer
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posted on January 31, 2001 08:29:48 PM new
It appears (especially in Canada), most banks will not (or have stopped) deposit/cash POSTAL money orders; they were intended to be cashed at a Post Office, I believe.
Oxford ....... Just a FYI - Most Cdn banks have no problem with Postal MO's, unless they are the green "domestic" USPS MO's.
The only reason that most Cdn banks are now refusing those are because the US Govt. put pressure on them to do so.
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taz8057
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posted on January 31, 2001 09:25:06 PM new
I have recieved two of those pink canadian money orders. The U.S. Post Office is the only place that can cash that money order. Get this - the post office then deposits that money order into the bank. Haha, why is it that they are the only ones that can put the MO in their account. Why will a bank not cash it? I never have understood this.
-Trey
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reddeer
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posted on January 31, 2001 10:27:23 PM new
Trey
FYI - Some US banks have no problem with Cdn Postal MO's.
Some US banks are screwy ..........
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taz8057
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posted on January 31, 2001 10:35:39 PM new
reddeer,
Tell me what bank takes a Ca. MO...
-Trey
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reddeer
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posted on January 31, 2001 10:39:31 PM new
I couldn't tell you off hand, but I know some of the sellers I've sent them to in the past have had no problemo.
Others, well, they found out the hard way what their banks rules & regs were.
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taz8057
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posted on January 31, 2001 10:41:46 PM new
I have talked to 4 banks here in Atlanta. Not 1 of the 4 would cash or take the MO. I asked the post office. They said that they are the only ones that can handle the Ca. MO.
-Trey
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reddeer
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posted on January 31, 2001 10:46:48 PM new
Who knows? You could ask the same number of banks in my area how many would cash a green Domestic USPS MO, and get the same results.
My local branch of my bank always did, for years, until the latest stink the US Govt made over it.
Maybe a US based seller will pop in and enlighten us?
[ edited by reddeer on Jan 31, 2001 10:47 PM ]
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strayhound
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posted on February 1, 2001 01:35:58 AM new
Bottom line: Pink international money order costs the purchaser MORE than the green domestic one, meaning greater profit for the PO. And that's why the PO put pressure against acceptance north of the border... Just like the feeBay increases, whatever the market will bear.
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marlenedz
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posted on February 1, 2001 07:35:51 AM new
Taz8057,
Here's one. I have Standard Federal Bank in the suburbs of Detroit. I can deposit any MO for free as long as it is in US funds. I have had zero problems with Canadian MO.I did have a problem with one from the Bahamas because it said something to the effect of "must be cashed at a money center". They didn't like it and sent it back.
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reddeer
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posted on February 1, 2001 09:02:08 AM new
strayhound .......... Exactly.
marlenedz ......... Thanks for posting that info.
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rachelsmom
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posted on February 1, 2001 09:15:25 AM new
Here's a new twist to the question ~ my bank DOES take them (Washington Mutual) ~ I know because I have deposited them there before. Just the other day however, I had one for about $6.50 and the lady told me that the exchange rate made it to be actually $4.39 so that's all they could deposit into my account. I didn't check because it didn't really matter to me, but I think the original transaction total WAS $6.50 so I actually lost.
Yesterday I got another one ~ I don't know if the last one was a Postal MO or not but it was pink so I assume so. This one is a pink Postal MO and it is for $41.00. I'm kind of wondering if the bank is going to tell me it's only good for $35 or something like that. Has this ever happened to you? If I take it to the PO (never knew I could do that) will I be able to get the entire amount? It does have a little "US" right next to the amount.
Thanks for your help! Rachelsmom
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rachelsmom
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posted on February 1, 2001 09:16:54 AM new
Oops forgot to check the option to receive emails on this one....
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spuddy98
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posted on February 1, 2001 09:32:33 AM new
I have had the experience of two Canadian postal money orders. The first I deposited to my bank checking account. Fleet bank - a huge bank- they took it but charged me about $5 because it was a foreign instrument. The next time I took it to the post office and received cold hard cash in my hand with no fee. The post office should take it even with the marks on the back. Sweet talk your postal worker and if that does not work talk to the postmaster (preferable at a larger post office -- not one where the postmaster IS the person at the counter  ) I have submitted a question to the postal service on this. We will see if they ever respond to this.
Prepare for the worst but hope for the best!! Spuddy98
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stockticker
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posted on February 1, 2001 09:44:26 AM new
Rachelsmom:
It sounds as if your buyer sent you a postal money order in Canadian funds in error and that's why there was an adustment - to convert the amount into U.S. dollar equivalent. The Canadian dollar is worth roughly 2/3 of a U.S. dollar.
The Canadian post office can issue money orders in EITHER U.S. dollars or Canadian dollars. Check to make sure that the words "U.S.$" appears to the left of the amount before trying to cash the money order.
Irene
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SilkMoth
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posted on February 1, 2001 05:11:54 PM new
Good news on my original dilemma.
I took the Canada Post money order to my local PO. The window clerk had never dealt with such a thing before, but bless her heart, she took time to call the central branch office, talk to the international money person, and found out that YES the PO can cash them, and YES they will accept them even if the bank's markings are all over the back!
Hot diggety!
Thank you to everyone who suggested that I check!
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not SilkMoth anywhere but here
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reddeer
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posted on February 1, 2001 06:18:48 PM new
I love happy endings.
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