On Fri, 21 Feb 2003 [EMAIL PROTECTED] wrote: > US Postal Money Orders:
> 1) Domestic use: Good only in the USA. Cost US$.80 at any US Post > Office. Negotiable at Banks, Currency Exchanges, local branches of > the US Post Office. Pale green color. Federal offense to counterfeit > these. Mail it yourself. > 2a) International for Canada: Cost US$3.00 at any US Post Office. > Negotiable in Canada (you tell me where). Pink in color. Mail it > yourself with your note. So, essentially, the only reason the banks bother to make "international" money orders for Canada is so they can charge you more for them and make more money. With all money moving electronically these days, it can't cost the bank any more money to redeem money orders cashed in Canada than those cashed in the US. I thought that the US ones might have some bonus insurance, or return privileges, or something extra that ones meant for Canada might not, have but it looks like I was wrong. If you think about it, why do they really need one money order for the US only and one for Canada? > 2b) International for many other Countries (not Germany!): Costs > US$3.00 at any US Post Office. Negotiable in specified country (you > tell me where). Can be ordered at any US Post Office, but... You > specify the amount and pay that plus the fee to the Postal Clerk at > the front counter. You get a receipt and form to mail off to St. > Louis (middle of USA) where they will take the name and address of the > recipient and send them a financial instrument in their own local > currency. For some reason, this quit working in Germany in 2002. I heard from my post office that they had stopped insuring shipments to Germany a year or two ago. Apparently the German postal authorities were refusing to cooperate with tracking and insurance concerns, but this is just heresay from an employee. > These are as good as cash currency in the USA, better than personal > checks or 'Cashier's Checks'. I guess this isn't so in Canada. Looks that way. I pay a bit extra for a slightly premium bank account so I can access MO funds immediately, but everyone with a standard account has to wait 28 days before the MO is verified as authentic, at least with the Royal Bank. > Regards, Bob S. > > > [EMAIL PROTECTED] writes: > > > > I received one too not that long ago and the text containing the US > > > Only was in red as far as I recall, not much good to me, the buyer was > > > quite put out that I wouldn't accept it too (he assured me that it was > > > as good as cash) :-( > > > > The ones I received said "Negotiable only in the US and its possessions," > > which at this point in time does not include Canada. :) So what's the > > difference between US and international money orders? Do the US ones > > offer any additional protection that the international ones do not, or > > vice versa? And if there's no difference, then why have > > two different > > types? > >
