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Re: [OM] how come?

Subject: Re: [OM] how come?
From: chris@xxxxxxxxx
Date: Fri, 24 Jan 2003 16:20:21 -0700
On 24 Jan 2003 at 15:01, Moose wrote:

> Andrew Gullen wrote:
> 
> >As long as you have cashed the MO and have money in hand, I can't see
> >how he could scam you. If he phones to ask for advance shipping, "use
> >your no's". As it stands he's probably mystified as to why you did
> >what you did.
> >
> >Am I missing something?
> >
> Yes. Paranoia.

Correct, but perhaps justified?

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.

In such a case, the person who received and cashed the money 
order would be on the hook...  his/her bank would receive the invalid 
money order back and, of course, would reverse the transaction.

That's never happened to me, or anyone I know (right, folks?), but 
I'm told that it IS possible.  So, maybe a little health paranoia ain't 
all bad?  That's not to say that the transaction in question was 
bogus (or not).  It's just to say that money orders aren't necessary 
as "guaranteed" as some folks thing.

Btw, Western Union in Canada won't cash their own money orders 
that are purchased through Bidpay.  So, it appears that Western 
Union Canada doesn't think much of money orders!

Regards,

Chris
-------------------------------------------------
Chris O'Neill (chris@xxxxxxxxx)
Joinco Enterprises Inc., Edmonton, AB Canada
Web:  http://www.joinco.ca



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