Why PMO for pistols?

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  • kingofwylietx

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    Feb 29, 2008
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    What is the advantage of a postal money order vs certified check?

    I am wondering because I am selling my motorcycle and a guy is coming up this weekend with a certified check. It got me to wondering why everyone always asks for a postal money order for guns. I am guilty of doing this myself....and I don't even know the advantage of it!! I've bought used guns and sent a postal money order, no problem....I just don't know why we do it.

    Anybody know???
    Target Sports
     

    JKTex

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    I'm not sure of the fee's but a PO is easier to get but has fees associated and I think it's based on amount. I got a $20 POMO recently and the fee was $1.05.

    A certified check (bank check?) is usually a base fee thus makes more sense for higher amounts. Both should be just as secure but I suppose certified checks could be counter fitted more easily.

    Hopefully someone in banking will come along or at least that knows.
     

    Texas1911

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    Has more to do with the check requiring clearing time, whereas the money order is instantaneous. I'm sure they are OK with you sending a check, so long as you allow time for it to clear prior to them shipping.
     

    kingofwylietx

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    That makes sense, I just started to wonder if I should tell him to bring a PMO, vs certified check.

    I do wonder if he may want to wait till next weekend, it's looking like we may actually get some rain this weekend.
     

    juwaba98

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    I've heard before that a Postal Money order, especially when mailed out of state, issued by an entity of the Federal Government (USPS) helps provide more options for recourse should you get ripped off. I think the most common term used with it is Interstate Commerce Fraud or something like that. Basically a way to afford more protection for the buyer and seller similar to using paypal on ebay. That and a postal money order is more likely to not be a forgery than a certified or cashiers check from The First State Bank of Namibia is. Just what I've heard.........
     

    Joat

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    A PMO is a barer instrument, redeemable for cash on presentation, on the other hand a check is a promissory note subject to funds availability.

    My suggestion is to do the transfer at a branch of the bank that the check is drawn upon. That way you are cashing the check with the issuer not depositing the funds for collection into your account where , if there are problems with the check, YOU are liable for the funds.

    If the buyer can bring a certified check why can't they just bring cash?

    Joat
     

    kingofwylietx

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    The strangest thing is, the guy said he's coming up this weekend with the certified check. Well, no word from him since then except an email asking "are you there?". Very strange.

    I gave him my address so he could Google it, in an earlier email. Now I'm thinking he may be a bit flakey. I sent him my phone number in case he lost it and also left him a voicemail. I have not heard anything else.....so......
     

    kingofwylietx

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    Not from Craigslist, but from a motorcycle forum.

    Now he says that he is coming up this weekend. It's just odd to me that he really only communicates via email. I do have his cell number, and we spoke extensively one day, but other than that...it's been email.

    He mentioned that he works for a soccer team in Houston and gave an area of where he lives. I did a Zabasearch and his name is associated with someone that has a home address in that area.......but that is about all I can look up for free.
     

    Porter

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    IIRC, counterfeit certified checks, and money orders are a common scam. If this is a FTF transaction, and he is unwilling to deal in cash, you would probably do well to be suspicious.
     

    Mark F

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    The strangest thing is, the guy said he's coming up this weekend with the certified check. Well, no word from him since then except an email asking "are you there?". Very strange.

    I gave him my address so he could Google it, in an earlier email. Now I'm thinking he may be a bit flakey. I sent him my phone number in case he lost it and also left him a voicemail. I have not heard anything else.....so......


    Cash. ALL other forms of collectables can be faked, unless you happen to be at a bank for verification & payment.
     

    kingofwylietx

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    I was thinking of keeping the title until the check cleared. That way, if it turned out to be a scam, I could at least claim it on insurance and report it stolen.

    Otherwise, if I signed and gave him title........could I still file on insurance?? I don't think I could report it stolen because I wouldn't 'technically' own it. I think it would then go to court......which would be expensive and a pain.

    I have a feeling the bank will be closed by the time he gets here this weekend...if he shows.
     

    Shorts

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    king, be leary of the buyer and listen to your instincts. There are a lot of bike scams out there. A good buyer often goes out of his way to be on time and stay in good communication. Especially on a bike they want because they're excited about it, right? We all get excited when we're looking at a potential new toy and make every effort to get the transaction done square so we can start enjoying our new toy.

    I'm on scam high alert for the things that have occured to me the last few weeks. Don't hand anything over until cash is in your posession. I'm tired of seeing good folks stolen from.
     
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