Lost Postal Money Order

[Pee Wee #15785]

Do you know what a pain it is if a MO goes missing?  PO will not do anything for 30 days.  They then check to see if it was cashed, if not cashed it is canceled, they issue a new one to replace it.  If cashed it is a hole other ball game.  You have to file that it was stolen, they have to investigate, can take up to 60 days, you will then be informed if you get your money.  One big pain in the butt.

[Colorado Coffinmaker]

 

There is a real simple solution for that happen stance.  I'm fairly certain you don't want to hear it though 

[Forty Rod SASS 3935]

Sounds like challenging a purchase on a credit card.  I did that on a Chevron / Texaco card and it took almost three months to get a new card.  

 

BTW, they did cancel the purchase, but I wish I had paid the $34.++ and avoided the crap that I got.

[Blackwater 53393]

The Postal Money Order is still one of the best and safest ways to pay for a transaction with someone you don’t know.

[El Chapo]

8 minutes ago, Blackwater 53393 said:

The Postal Money Order is still one of the best and safest ways to pay for a transaction with someone you don’t know.

 

Absolutely not.  A postal money order is like sending cash to someone.  You should never send a postal money order to someone you don't trust with your checkbook.  A postal money order offers essentially no protection from being scammed.

 

Credit cards are the safest way to pay for a transaction with someone you don't know.  Nearly all of them offer purchase protection.

[Blackwater 53393]

1 minute ago, El Chapo said:

 

Absolutely not.  A postal money order is like sending cash to someone.  You should never send a postal money order to someone you don't trust with your checkbook.  A postal money order offers essentially no protection from being scammed.

 

Credit cards are the safest way to pay for a transaction with someone you don't know.  Nearly all of them offer purchase protection.

Your opinion and you’re entitled to it!

 

I don’t use credit cards, PERIOD !  I have a debit card for fuel purchases and to access larger cash amounts.

 

There are federal protections provided with PMOs that you can’t get with any other type of transactional currency.

[El Chapo]

1 hour ago, Blackwater 53393 said:

Your opinion and you’re entitled to it!

 

I don’t use credit cards, PERIOD !  I have a debit card for fuel purchases and to access larger cash amounts.

 

There are federal protections provided with PMOs that you can’t get with any other type of transactional currency.

 

Yes there are, in theory.  In reality, the U.S. Attorney would never charge such a case.  It's the difference between paper law and real world trial law. 

 

If you want to choose to not use credit cards and leave those protections, that's fine, but you shouldn't be telling people that postal money orders offer any meaningful protection.  That is just absolutely not true in the real world.  I wouldn't even send a postal money order to another SASS member unless we had mutual friends and I could afford to lose that money.  A postal money order is like handing someone cash.

 

So is Zelle by the way. 

 

If you're going to use a postal money order, you might as well wire money to the person.  At least with that, it can't end up at the wrong place.

 

Postal money orders do offer protection--for the recipient.  If the recipient is a fraudster or a scammer, they will have no problem redeeming the money order at any post office for cash and walking away.  You will lose all of your money and there will be nothing realistic you can do about it.  If they are legitimate, it's great for them because the payment is "good as cash."

In the modern world, there is really no reason to use postal money orders.  They offer nothing and they are a very easy way to get scammed if you are the buyer. 

Edited June 15 by El Chapo

[Blackwater 53393]

I have used those afore mentioned protections on two occasions!!

 

They can be beneficial!!

 

Since I/we ceased using credit cards, we’ve saved a surprising and substantial amount of money and have paid off things in much shorter time. I control my spending better, I stay out of unnecessary debt, and I have fewer entities that can pry into my personal life and finances!!  My credit rating, (a total scam perpetrated by credit card companies and other profiteering financial institutions) has increased by an extremely significant number, funds for discretionary spending have multiplied, and my personal equity is exponentially higher!

 

If you and I do business, I will accept a Postal Money Order, CASH, or, (if I know you) a Company Check.  You can expect the same from me.

 

Your opinion. Your experience.

 

My opinion. My experience.

 

’Nuff said!

[Stump Water]

Except at the ATM, I never use my debit card.  As a coworker found out a few years ago, if your debit card gets compromised the money comes out of your bank account immediately.  He got wiped out.  He did get his money back... but it took over a month.   In the meantime he had to get a pay advance.  

 

If your credit card gets compromised they're stealing the issuing bank's money, not yours.

 

Having accounts with different banks is also a good idea.

[Blackwater 53393]

With the exception of transactions made directly with my bank or ATM withdrawals, all transactions on my debit card are held “PENDING” for some time, usually a day or two.  

I check my accounts at least once a day AND I only keep a limited amount in the account that supports the card.  If I need a larger amount to complete a transaction, (something I would normally withdraw cash for and make a face to face transaction) I transfer the funds from a separate, protected account.  
 

I have also cultivated a positive relationship with my bank, so they contact me immediately on any questionable charge.

[Red Gauntlet , SASS 60619]

A few years back, I sent monies to a family member using commercial money orders. They worked well and were secure enough. Never have used a postal money order.

 

If you are going into debt with credit cards, they are not good. But if treated like a charge card and paid in fulrl every month, their buyer protection and airline miles are very useful!

 

 

[Hardpan Curmudgeon SASS #8967]

I "grew up" in the BankCard world.  Literally, from the lowest clerk in the mailroom of the original Master Card company to VP grade Department Head of Merchant Settlement for a li'l outfit sometimes called BofA - before I came to my senses and bailed.  But somewhere in the middle of that mess I spent a few years running departments that processed "chargebacks" - disputed transactions.  

 

So, about a dozen or so years ago a co-worker (NON-banking organization!)  came to work one day all bummed.  I asked him why he was down, and he told me a woeful tale of buying a set of Calloway golf clubs online for a low bargain price of about six hundred bucks, only to find out that they were fakes. 

 

"So, return 'em!" sez I.

 

"I can't!" sez John.  "Turns out they were shipped from China!  I'm hosed.  Amy [his missus] is gonna kill me!"

 

"Hm.  Tell ya what... give me this information, and I might be able to help ya out," I said, and handed him a quickly scribbled list of data items (vendor, date ordered, date shipped, date received, purchase price and such).

 

He did, and the next day I presented him with a letter to sign and deliver to his bank - they were surprised at the format, clarity, and even reference to the chargeback reason code.  All he had to add to it was a receipt for return shipping via the Post Office.  Slowest and cheapest means possible.

 

He very quickly got his money back... and those clubs might still be on a boat somewhere, headed to China.  

 

Oh - and DO take care buying cheap golf clubs online!!  

 

 

[John Kloehr]

As I understand credit cards, disputing a charge gets it credited immediately and dropped when proven fraudulent.

 

As I understand debit cards, the money is gone from your account and only credited back when the charge proven fraudulent.

 

My bank has been better than that with my debit card, but those are the basic rules.

 

Money orders are old school, never send to someone you do not trust. And why does a regular seller not accept PayPal and pay the few percent, it is so much faster. Postal service money orders solved the problem of legitimate sellers not being able to trust random buyers 50 to 100 years ago.

[Matthew Duncan]

USPS?  I have a hard time trusting any organization controlled by the Federal government. If I needed a check I ask my bank to issue a certified check for me.

[Blackwater 53393]

Several years ago, I used PayPal and had a SQUARE account for my small business.

 

In rapid succession, PayPal decided to go anti-gun and froze my account with a sizable amount of my money tied up in it. Not long afterward, Square decided to do the same! These actions were the result of my dealing in firearm related merchandise!

In the first case it took the help of a friendly attorney and threats of filing criminal charges in federal court to get my money back and it took three months!!  I mean to tell ya’s, they fully intended to just keep my money!  
 

I occasionally use their payment system to make small debit card transactions, BUT THEY WILL NEVER HOLD MY MONEY AGAIN!!

 

With Square, I was on the road, fifteen hundred miles from home. I had a couple hundred bucks in cash, a half tank of gas, my truck, trailer with my merchandise in it, my son who was working with/for me, and a frozen account of a couple thousand dollars that I needed in order to get to my next venue and then home!!

 

It took me two whole days on the phone to the company, my bank, and to my lawyer, along with a few implied threats to get my funds released, my bank account replenished, and my account with that sorry outfit closed!!

 

I promised myself, my wife, and my son that that would NEVER HAPPEN AGAIN!!

 

I have no intention of ever going back to either of those companies for any kind of deal where they have my money or access to my accounts.

 

 

 

Edited June 16 by Blackwater 53393

[Red Gauntlet , SASS 60619]

52 minutes ago, Matthew Duncan said:

USPS?  I have a hard time trusting any organization controlled by the Federal government. 

 Of course the Post Office has been run by the Federal gov't since 1789....

 

In the course of 45 years of law practice I must have sent and received thousands, perhaps tens of thousands, of pieces of mail. That and personal mail-- always worked quite well for me.

[El Chapo]

15 hours ago, Blackwater 53393 said:

Several years ago, I used PayPal and had a SQUARE account for my small business.

 

In rapid succession, PayPal decided to go anti-gun and froze my account with a sizable amount of my money tied up in it. Not long afterward, Square decided to do the same! These actions were the result of my dealing in firearm related merchandise!

In the first case it took the help of a friendly attorney and threats of filing criminal charges in federal court to get my money back and it took three months!!  I mean to tell ya’s, they fully intended to just keep my money!  
 

I occasionally use their payment system to make small debit card transactions, BUT THEY WILL NEVER HOLD MY MONEY AGAIN!!

 

With Square, I was on the road, fifteen hundred miles from home. I had a couple hundred bucks in cash, a half tank of gas, my truck, trailer with my merchandise in it, my son who was working with/for me, and a frozen account of a couple thousand dollars that I needed in order to get to my next venue and then home!!

 

It took me two whole days on the phone to the company, my bank, and to my lawyer, along with a few implied threats to get my funds released, my bank account replenished, and my account with that sorry outfit closed!!

 

I promised myself, my wife, and my son that that would NEVER HAPPEN AGAIN!!

 

I have no intention of ever going back to either of those companies for any kind of deal where they have my money or access to my accounts.

 

The protections you're complaining about are exactly why buyers use credit cards to buy things.  It's not supposed to be good for sellers.  That is "the" point.  If sellers won't deliver what they promise, credit cards put that power in the hands of consumers.  The credit card company wants me to keep using my credit card.  They couldn't care less if a scammer's bank doesn't get its money.

 

I long for a world where I could buy all of the things I need locally from people who want my business and won't screw me over, but the reality is that world is long gone.  Consumers opted for impersonal transactions at great distance instead. 

 

I never run a balance on a credit card.  I use it for the cash rewards on my purchases and for purchase protection.

 

Nobody should be using a debit card for things other than getting cash from an ATM for reasons other posters have already pointed out.  While there are some protections with a debit card, they are not as good as a credit card and you may lose all of your money even if you are innocent.

 

I think what this thread demonstrates is that we all wish we lived in a more honest world, but sadly, we don't.  The golf club example is really great.  About 20 years ago I purchased some "Craftsman" screwdrivers from eBay.  What I got were obviously fakes.  Even then, I got 100% of my money back because the seller knew the whole thing was a scam and didn't fight me when I made a claim.  I would have been happy to return them but the seller was happy with me keeping them and giving me back my money so he could continue scamming other people.

[Blackwater 53393]

2 hours ago, El Chapo said:

 

The protections you're complaining about are exactly why buyers use credit cards to buy things.  It's not supposed to be good for sellers.  That is "the" point.  If sellers won't deliver what they promise, credit cards put that power in the hands of consumers.  The credit card company wants me to keep using my credit card.  They couldn't care less if a scammer's bank doesn't get its money.

 

I long for a world where I could buy all of the things I need locally from people who want my business and won't screw me over, but the reality is that world is long gone.  Consumers opted for impersonal transactions at great distance instead. 

 

I never run a balance on a credit card.  I use it for the cash rewards on my purchases and for purchase protection.

 

Nobody should be using a debit card for things other than getting cash from an ATM for reasons other posters have already pointed out.  While there are some protections with a debit card, they are not as good as a credit card and you may lose all of your money even if you are innocent.

 

I think what this thread demonstrates is that we all wish we lived in a more honest world, but sadly, we don't.  The golf club example is really great.  About 20 years ago I purchased some "Craftsman" screwdrivers from eBay.  What I got were obviously fakes.  Even then, I got 100% of my money back because the seller knew the whole thing was a scam and didn't fight me when I made a claim.  I would have been happy to return them but the seller was happy with me keeping them and giving me back my money so he could continue scamming other people.

And all of that rings absolutely hollow when I balance it against the negatives that I have experienced dealing with credit card companies, the companies that handle credit card transactions, and their ilk.

 

I was charged a percentage of my sale price to accept the credit card. This may seem insignificant to you, but it cuts into my profits. It also required me to raise my prices accordingly! Then when the company arbitrarily decides to not only deny me service, but to also refuse to give me the funds that they have collected on my behalf and I have to pay someone to threaten legal action to recover what is mine to begin with, I feel that I am correct in taking exception to their tactics!!

 

As a buyer, I was denied access to funds that were rightfully mine, again by one of these credit handlers, because they didn’t like what I was buying, never mind that what I was purchasing was totally legal and above board.  
 

This episode also cost me money when I was unable to deliver goods and services to my customers and it inconvenienced both them and me!

 

The “Cash Back” feature that you mentioned is a SCAM!!  That’s your money to begin with!! They take it and hold it for some interval, using it to increase their own profits, and then return it to you!  THEY ARE BORROWING YOUR MONEY WITHOUT INTEREST AND THEN RETURNING IT TO YOU LATER!!  
 

If your “cash back” amounts to a significant number, YOU could have invested it and taken that profit yourself!!  Same with those “Airline Miles”!  These are funds that you wouldn’t have to pay up front if the credit card company and the participating merchants didn’t collude to take and use that money in the first place!!  AGAIN! They take that money from you and use it to turn a bit more profit and then “graciously” return your money without paying you the interest you should be receiving!! Add to that the fact that likely fewer than half the patrons who accrue these “miles” ever redeem them!  That’s money that these outfits simply apply to their profit columns!!

 

I’m done here.  “To each his own!” said the lady, just before she kissed the pig! 
 

 

 

Edited June 16 by Blackwater 53393

[El Chapo]

2 hours ago, Blackwater 53393 said:

And all of that rings absolutely hollow when I balance it against the negatives that I have experienced dealing with credit card companies, the companies that handle credit card transactions, and their ilk.

 

I was charged a percentage of my sale price to accept the credit card. This may seem insignificant to you, but it cuts into my profits. It also required me to raise my prices accordingly! Then when the company arbitrarily decides to not only deny me service, but to also refuse to give me the funds that they have collected on my behalf and I have to pay someone to threaten legal action to recover what is mine to begin with, I feel that I am correct in taking exception to their tactics!!

 

As a buyer, I was denied access to funds that were rightfully mine, again by one of these credit handlers, because they didn’t like what I was buying, never mind that what I was purchasing was totally legal and above board.  
 

This episode also cost me money when I was unable to deliver goods and services to my customers and it inconvenienced both them and me!

 

The “Cash Back” feature that you mentioned is a SCAM!!  That’s your money to begin with!! They take it and hold it for some interval, using it to increase their own profits, and then return it to you!  THEY ARE BORROWING YOUR MONEY WITHOUT INTEREST AND THEN RETURNING IT TO YOU LATER!!  
 

If your “cash back” amounts to a significant number, YOU could have invested it and taken that profit yourself!!  Same with those “Airline Miles”!  These are funds that you wouldn’t have to pay up front if the credit card company and the participating merchants didn’t collude to take and use that money in the first place!!  AGAIN! They take that money from you and use it to turn a bit more profit and then “graciously” return your money without paying you the interest you should be receiving!! Add to that the fact that likely fewer than half the patrons who accrue these “miles” ever redeem them!  That’s money that these outfits simply apply to their profit columns!!

 

I’m done here.  “To each his own!” said the lady, just before she kissed the pig! 

 

It sounds like you long for a world that is just not 2024 reality.  Businesses all accept credit cards and price accordingly.  The only difference if paid with cash or its equivalent is that I would be giving up the benefits of using credit cards and paying the costs anyway.  I am not criticizing you for doing so, but I will not be joining you in that decision.  I'm not sure why the tone of your posts sounds like you're upset about it; nobody has criticized your choice not to participate.

 

If more people shared your opinion, the market would be different, but for better for worse, and perhaps every imaginable individual reason, markets left cash and its equivalents behind a long time ago.  I explained why I did.  I haven't studied why others have.  But that is the thing about markets--they give us what we want and not what we ought to want.  There's plenty of room in this world for both of us.  I'm frankly surprised that you have the opinion you have.  But you're absolutely welcome to it; you're not harming anyone.

[Rip Snorter]

I use credit cards but pay them in full every month.  I use cash at small businesses that I value.  It is my hope that that small act will help them continue to exist and survive till the economy improves.

[Blackwater 53393]

1 hour ago, El Chapo said:

 

It sounds like you long for a world that is just not 2024 reality.  Businesses all accept credit cards and price accordingly.  The only difference if paid with cash or its equivalent is that I would be giving up the benefits of using credit cards and paying the costs anyway.  I am not criticizing you for doing so, but I will not be joining you in that decision.  

I actually don’t long for much of anything, outside of honesty.  
 

I merely explained why I do what I do and why it works best for me!!  
 

YES!!  I hold a particular grudge against PayPal and the credit card industry and if you’d been in my position, I figure that you’d probably hold the same grudge.  Whether or not you would do anything about it, I can’t say, but I have done light years better financially since  I made those changes!