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Re: [OM] how come?

Subject: Re: [OM] how come?
From: Mark Dapoz <md@xxxxxxxxxxxx>
Date: Fri, 24 Jan 2003 18:47:36 -0500 (EST)
On Fri, 24 Jan 2003 chris@xxxxxxxxx wrote:

> 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.

It's not that simple.  I've tried putting a stop on a money order when a
deal I was making started looking bad.  I was dealing with American Express
and there is at least a 15 day waiting period before the "stop" takes effect,
and then an even longer period before you get a refund.  That gives them time
to ensure it hasn't been cashed.  If it has, then you're out of luck.  As a
seller, as long as you cash the money order as soon as you get it, you're
probably quite safe.
                                -mark


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