Spot fake usps money order
Money order scams are common when selling items online. A scam takes place when somebody pays with a fake money order.
Assuming the payment is good, the recipient moves forward with the "buyer's" request shipping goods or wiring money. Once the recipient's bank discovers the problem, it is too late to recover products or funds.
UBB Message | | For Bankers. From Bankers
Money orders can be a safe way to receive payments. Unfortunately, the sense of security you feel causes you to drop your guard. In fact, you should always treat money orders like personal checks with caution.
Money Orders | USPS
The buyer will ask you to send the excess money above and beyond your sale price somewhere. They according to their story don't have a bank account yet and they don't want to pay steep fees at a check cashing store.
What could go wrong? Surprisingly, your bank might let you walk out with cash, but that's not the last you'll hear of this money order. If you send or spend money that you think you got from a money order, expect problems with your bank. When you deposit a money order into your account, your bank will allow you to use some or all of the deposit immediately.
If all of this sounds familiar, thieves use the same approach with cashier's checks. The best thing you can do is work with people you know and trust. Each money order issuer can also describe the latest security features printed on their money orders.
For example, USPS money orders feature a Ben Franklin watermark, while MoneyGram uses a heat-sensitive patch to reduce fraud. Treat it as suspect or be prepared to repay the bank. Feel free to ask your bank for help.
Counterfeit Money Orders - Fraud Guides
Search the site GO. Updated July 15, See how to Verify Funds on a Money Order Each money order issuer can also describe the latest security features printed on their money orders.
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