How long does it take for a money order to clear, cashed a money order from someone at my bank, how long does it take to clear, they said if the m/o is counterfite, they take the $$ from MY account.
2007-11-23 16:39:32 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
could tale as long as two weeks!!!
2007-11-27 08:54:30 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Up to 10 business days. If it's a counterfeit money order on a foreign bank it can take up to 4 weeks.
If you cash a money order for someone else you should never, NEVER give them the money until the bank confirms the MO as fully cleared, because it's true - if it turns out to be fake, the bank will deduct the money from your account.
This is the way the most common eBay scams work - someone sends you a money order or cashiers check, you deposit it in the bank and give them the item (and, frequently, the "difference" between the MO and the sales price) and then two weeks later the check / order turns out to be bogus, and YOU are stuck with the debt.
Richard
2007-11-24 00:58:52 · answer #2 · answered by rickinnocal 7 · 0⤊ 0⤋
I believe it's like a check 5 to 7 business days.
2007-11-24 00:44:36 · answer #3 · answered by Classy Granny 7 · 0⤊ 0⤋