International Money Order

jwarne

Hi folks,
Just wondering if anyone has had any experience with International Money Orders and how exactly do they work? I have an American buyer offering to pay using this method and have never used it before so wanted to check out it was all above board first. Any advice greatly appreciated!
Thanks

syanide

there are a lot of scams with them.. why can he not use bacs..??
I have transferred money to banks in america / germany / holland and china using it.. you just need your additioanal IBAN number for your account

code^express

syanide wrote:

there are a lot of scams with them.. why can he not use bacs..??
I have transferred money to banks in america / germany / holland and china using it.. you just need your additioanal IBAN number for your account

Some overseas buyer do not trust our online banking. I have offered quite a number of overseas buyers to pay by bacs but so far only 1 did it. One said that she has to pay US$25 or so to use the US bank service. One messing about with me in the end I offered her to pay me via paypal (which I don't like it!!! as far as I am concerned paypal is rubbish!!!). Paypal eats up all my profit!! not forgetting ebay charging commission as well.

jwarne

Hi guys, thanks for your replies -just confirms my doubts really so I think I'll just ask them to pay via Paypal just to be on the safe side. Sure does eat into those profits though like you say :rolleyes:

adam2484

if the money order is in a foreign currence, you'll get charged about £10 for conversion

peter999

code^express wrote:

One said that she has to pay US$25 or so to use the US bank service.

International Money Transfers can be VERY expensive.

If I want to send a transfer via my bank to Europe it costs £17 !!
No ebay seller should assume someone will pay via this method.

You can cash International Money Orders via https://www.auctionpix.co.uk.

I have used & can recommend, it was a fast service.
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AndyR_3

If you accept an International Money Order, make sure it's in Stirling drawn on a UK bank. In this case it works just like a UK cheque and you can pay it into your account like any other, free of charge. However, just like any other cheque, it could be a forgery, so be careful. And remember that just because your bank balance shows the funds are available, it can still be returned unpaid if it is found to be a forgery or stolen order.

peter999

AndyR wrote:

If you accept an International Money Order, make sure it's in Stirling drawn on a UK bank.

There's no harm in accepting US $ Money Orders, adding admin charge, cashing through https://www.auctionpix.co.uk (orders are cashed in days), posting item when you receive cheque.

Very few US buyers will pay via this method anyway, but if you want the buyers, there's no big deal in accepting this method when necessary if the buyer has no other way of paying.
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