I get unlimited free cashiers checks, free checking and a free safe deposit box for keeping $5K on deposit at Bank of America. A real cashiers check is secure because it is drawn on the bank's funds. The bank removes the money from the payer's account when the check is written. No money is your account, no cashiers check.
Maximum USPS Money Order is 700.
In the Fraud-Dssman thread (great BTW), just about everyone recommends using USPS Money Orders to do i-net business. I just got off the 'phone with the USPS, and the maximum amount the USPS will write a M.O. for is $700., so on a $5K deal you (the buyer) would need eight M.O.s Is this a reasonable or practical way to do business? I say no, and that's where Cashier's Checks come in, ie for higher dollar purchases.
For smaller purchases needing only one or two M.O.s, they are just fine, but realistically, how many of us want to make out a bunch? Comments?
Interestingly, on two of the most expensive components I've purchased, the seller said a personal check (not a cashier's check) would be just fine, and that is what I used. This was after telephone conversations.
Also, apparently some people do not know what a "cashier's check" is. On at least three occasions (when selling), I've specified M.O. or cashier's check, only to have a personal check show up. In all cases the checks were good. Any comments? Craig
For smaller purchases needing only one or two M.O.s, they are just fine, but realistically, how many of us want to make out a bunch? Comments?
Interestingly, on two of the most expensive components I've purchased, the seller said a personal check (not a cashier's check) would be just fine, and that is what I used. This was after telephone conversations.
Also, apparently some people do not know what a "cashier's check" is. On at least three occasions (when selling), I've specified M.O. or cashier's check, only to have a personal check show up. In all cases the checks were good. Any comments? Craig