Please help. Info on Crossed Postal Orders (eBay again)

How do they work ?

I wanted to cash a postal order at my local post office.
But apparently it's crossed and can't be cashed at a post office?

So they told me it has to be paid direct into the bank account of the name that's on the postal order.


Do these Crossed Postal Orders work like a cheque and can bounce?

Thanks

(eBay again, sold my mini moto & the guy doesn't speak a word english...)
I asked for money transfer to my bank account & he sent me a postal order.

I checked my emails this morning & I have received paypal payment aswell, but he didn't include the postage costs.

Crossed Postal Orders are kinda like a 'Guarenteed' cheque.

Thay can't be cashed by anyone but only paid into a bank account of the name on them - blah blah - what the PO said.

But no, they can't bounce and shouldn't take any time to clear like a cheque. The original buyer of the Postal Order would have already had to hand over the equivelant sum of money to get it - so it's cash but in a secure form.

Um...

... does that make sense?

[Viney]

Originally Posted by K

Crossed Postal Orders are kinda like a 'Guarenteed' cheque.

Thay can't be cashed by anyone but only paid into a bank account of the name on them - blah blah - what the PO said.

But no, they can't bounce and shouldn't take any time to clear like a cheque. The original buyer of the Postal Order would have already had to hand over the equivelant sum of money to get it - so it's cash but in a secure form.

Um...

... does that make sense?

In simple terms, your bank treats it like cash, but can only go in a bank.

Yes K thanks.

I have been at the bank and paid it in.

They said it will take 3 days to clear.

But now I'm confused why he send paypal payment aswell?


I'm expecting a new scam

Originally Posted by PatrickUK

Yes K thanks.

I have been at the bank and paid it in.

They said it will take 3 days to clear.

But now I'm confused why he send paypal payment aswell?


I'm expecting a new scam

weird, so hes paid twice??

oh well, get the money out of paypal b4 he asks for it back

[northwind]

Don't consider it cleared til it's actually cleared! They can't bounce, exactly, but that dosen't mean they can't be cancelled. Stolen POs mainly, I think they can be stopped if reported lost too but don't quote me on that. They're not cash equivalent.

As to why he's paid twice... Generosity?