Postal Money Order

carolinej

Afternoon all, I'm selling my car and the buyer has said he can pay with a postal money order. I've told him I'd want to get the serial number from him first and check with An Post it's legit, similar to what you'd do with a bank draft, can I do the same with a postal order????

Second qs I have - can I cash the PO as the post office or do I have to lodge it directly to my bank account at the bank??

btw, he said he can pay half postal order & half cash but worried about dodgy notes but he seems very genuine, I met him at his place of work and he told me I could check his credentials thru a particular company he dealt with.

thanking you!
C

Victor

I can only expect this is a new version of the bank draft scam.

Bank transfer or him coming with you to lodge money at the bank. Bring someone with you.

carolinej

Victor wrote: »

I can only expect this is a new version of the bank draft scam.

Bank transfer or him coming with you to lodge money at the bank. Bring someone with you.

ok. It's an An Post Postal order..not sure what the bank draft scam is? I suppose I should take an hour off work and meet him at the bank...

Victor

This is one variation: http://www.independent.ie/irish-news/fraudster-swindles-car-owners-with-fake-bank-drafts-26853239.html

The basic: http://scam-detector.com/auto-scams/bank-draft-payment

coylemj

carolinej wrote: »

ok. It's an An Post Postal order..not sure what the bank draft scam is? I suppose I should take an hour off work and meet him at the bank...

The An Post website lists the commission payable on Postal Money Orders and the highest commission payable is listed as €3.70 which covers money orders between €130 and €650, the implication being that €650 is the maximum value of a money order. Is the prospective buyer offering to pay you more than this with a Postal Money Order? If so it's a scam.

http://www.anpost.ie/AnPost/GeneralTemplates/ProductsAndServices.aspx?NRMODE=Published&NRNODEGUID=%7bFF495B49-C556-42B8-B2CF-C5D45CC58777%7d&NRORIGINALURL=%2fAnPost%2fMainContent%2fPersonal%2bCustomers%2fMoney%2bMatters%2fMoney%2bTransfer%2f&NRCACHEHINT=Guest#postalorder

You can only buy a Postal Money Order with cash, what explanation is he giving you as to why he wants to pay half cash & half Postal Order? Why not a bank draft for the full amount which is the normal method?

If it's more money than you feel safe handling as cash, tell the buyer you will meet him in his bank/credit union/building society branch, let him do the paperwork to withdraw the money from his account then insist that the clerk hands over the draft direct to you. Anything else carries major risk of fraud.