Postal Money Order versus Bank Money Order ???

It is good to know the USPS will cash a USPS MO. Banks usually make you deposit it first.

A person can put a stop payment on a Bank money order. I spoke to rep at citibank. I would not ship item till money order was paid by issuing bank. It was for $ 10,000.00 The money order was issued by an out of state bank with no branches in my area otherwise you can go to that bank an cash it. I take no chances on large deals. Western Union is also great they will give you immediate cash. I just discuss these details with buyer before hand so there are no misunderstandings as Agoners (myself included) must have that new piece ASAP as it may change our lives!

I for one am one of the audiogon'ers who politely request USPS money orders only( if payment by MO) for all these great reasons listed above. It's just safer and less risk for both parties, especially the guy who ships his $6,000 amplifier upon receipt of a MO. I usually like paypal better...but thats a whole nother thread!

I am somewhat of an infrequent seller/buyer. I typically request if I can purchase by personal check and agree to wait for my check to clear before seller ships the item. As a seller, I would MUCH prefer to wait until ANY payment type I receive has cleared before shipping the item. Is this standard proceedure? Or, is a MO assumed to be good and the items is shipped before it clears?

Just wondering,
Paul