crossed postal orders

patchwork_cat

i have received one of these, deposited it into my account and they told me it would take 4 days to clear.

My buyer has then said no if you take it to a bank they cash it immediately.

I rang my bank and they said no it takes as long as a cheque to clear.

Does anyone know anything about this and how do I tell my buyer that she is wrong(if she is) without getting her back up.

phill79

patchwork_cat wrote:

i have received one of these, deposited it into my account and they told me it would take 4 days to clear.

My buyer has then said no if you take it to a bank they cash it immediately.

I rang my bank and they said no it takes as long as a cheque to clear.

Does anyone know anything about this and how do I tell my buyer that she is wrong(if she is) without getting her back up.

Tell her that if the postal order is NOT crossed, then you are correct, I can cash it straight away at a post office, however, as you sent me a crossed postal order, I have to pay this into a bank which unfortunately takes up to 4 days.

How about that?

zeke

My understanding is that they take 4 days to clear but, unlike a cheque, will not or cannot be bounced, so you should be OK to send out the item in the meantime.

rjm2k1

I crossed PO is in effect a cheque, when you present it to your bank, they do not have the money, the post office does. They have to clear the PO just like a cheque in order to transfer the money. A PO can also be forged or stolen, so only when the bank has confirmed that it's real and received the money does it make sense to let you have it. If they want things quicker, they should send an uncrossed PO, which you can present to the PO who have the money and can verify the PO on the spot.

appleblossom

zeke wrote:

My understanding is that they take 4 days to clear but, unlike a cheque, will not or cannot be bounced, so you should be OK to send out the item in the meantime.

It can be stopped if the buyer advise it has been lost in the post as whilst it is in the banking system, it is in limbo -treat it as you would a cheque, wait for it to clear then send the goods. hth.

frivolous_fay

You can pay crossed postal orders straight into your account at the Post Office if you bank with Smile, Cahoot, or other similar banks.

lapat

its exactley the same as a cheque
and if i get them i dont care if its 99p or £999 they are not getting there goods until it has cleared into my account and it takes the same length of time as a cheque does

they are a pain in the a***

daveb1_2

frivolous_fay wrote:

You can pay crossed postal orders straight into your account at the Post Office if you bank with Smile, Cahoot, or other similar banks.

But sometimes it gets to the bank quicker if you take it straight there. I paid a cheque into the PO for the Co-Op bank and it took twice as long because they batch send them or something they said, so its lucky for your customer you dont use my local PO.

frivolous_fay

daveb1 wrote:

But sometimes it gets to the bank quicker if you take it straight there. I paid a cheque into the PO for the Co-Op bank and it took twice as long because they batch send them or something they said, so its lucky for your customer you dont use my local PO.

Nah, I said pay into your account DIRECT, and I was talking about postal orders... no envelope, no paying in slip, just your bank card. Not the same thing as them sending your cheque off to the bank.

When I have to pay in cheques I tend to keep them til the weekend and pay them in at my local Co-operative.

patchwork_cat

HI
I didn't think that they could be stopped- thank you. It was the way she emailed me, too- I have cashed them in the past - you are wrong attitude.

I told her that I would send them out on a crossed postal order straight away in future, but hearing that they can be stopped I don't think I will.

I suppose the world is full of the misinformed thinking they are informed and shouting the odds. I am sure that Oscar Wilde has an appropriate quote for this situation!!

freebie_junkie

the way a crossed order works now is that teh sender can cancel it until it clears into you bank so dont post teh item until it clears. an uncrossed order can be cashed instantly for money at a post office. some buyers just dont know the difference, explain it nicely and assure them that you will post as soon as it clears and they should take it ok. ive had this about 5 times so far and everyone has been ok after ive explained it to them politely and nicely.