2 Apr
2009
2 Apr
'09
3:01 a.m.
On 1 Apr 2009 at 22:30, Rick Murphy wrote:
At 07:52 PM 3/30/2009, Chuck Guzis wrote:
>Money orders are designed as "bearer" instruments, which is why your
>bank doesn't like them. A cashier's or certified check is far
>safer-- the check can be verified with a telephone call. Not so with
>a money order.
Cashier's checks and certified checks are no
better than any other
type of check, and are frequently fraudulent these days. US banking
laws work against us as banks are required to make the funds available
in a small number of days while it may take months for a bad check to
be detected.
I should have said "the check can be verified with a telephone call
to the issuing bank". The bank wrote the check and collected the
funds; they should be able to tell you if it's legit.
Assuming, of course, that the bank is a legitimate US-chartered bank.
Foreign banks are another kettle of fish entirely.
--Chuck