Using Ebay... When I receive a buyer's money order... where do I go to cash it?

Question

I am new to ebay... and have sold a few items. One customer wanted to pay with a money order... and I said ok. But when it gets here... where do I take it to get it cashed? Can I take it to my bank?

And how long does it take to get one in the mail?

Thanks!

Answer 1

You should request USPS (United States Postal Service) money orders that can be cashed at any USPS office in the US. That way you can be assured that you can get the money quicker and more safely. Then you can send the item out! Yes, you can take it to the bank, but you may have to have an account there to cash them. Depends upon the bank, or you can just deposit them into your bank account and wait until it clears.

As far as how long it takes to get one in the mail, the same time as it takes for anything to come in the mail, depends upon when it was sent, weather conditions, holidays, your delivery day...

When you set up your Item Description, you should then specify that you will only accept USPS money orders so that your buyers will know next time what kind of money orders you want to be paid with.

Answer 2

The money order is almost the same as cash because the sender pays for it (money order ) when they get it so there shouldn't be any holding it waiting for it to clear and any bank or post office will cash it-also if it isn't a large some of money then any store may cash it also.

Answer 3

The real reason Ebay quit allowing buyers to use money orders and checks is FRAUD. Sellers were being scammed by "buyers" who are very good counterfeiters. They would send a money order/bank check for more than the amount of the item, asking the seller to deposit the money order and then Western Union the "overpayment" to somewhere (usually overseas). In 10 or 14 days the bank would figure out the money order/bank draft was fraudulent and they would take the entire amount out of the sellers account. Sellers would be out both the product, the full money order amount AND fees and charges. Also, Ebay owns PayPal, so by forcing everyone to use electronic funds, especially through PayPal, they make money twice.

Answer 4

it should only take a couple days but it depends on where its coming from and how far you live from. anyways you have to go to your bank because "financial institutions" wont cash a money order unless you have an account with them. but you could go to places like walmart amd check cashing places but they will charge you a couple dollars to do it.

Answer 5

Take it to the bank . They will hold it till it clears. Once it clears sent the item that was bought