Money order

[mosinmaster]

Hi,

If I am the seller receiving a money order, how exactly do I get the prepaid amount of money? Does it get mailed to me? or sent to my email? Do I just bring it to Canada post and cash it? Kind of confused on how I receive the MO and go about cashing it.

 

[Igormon]

Sender sends you the money order through regular mail. You receive it and cash it in at a Canada Post. Its like getting a cheque in the mail only the amount on the money order is guaranteed as the sender pays it up front at the post office.

 

[liberal-hater]

Unless it's a bank money order. In which case receive it in regular mail and cash it at the bank...similar to postal money order.

 

[Donny Fenn1]

all money orders can be deposited into your bank just like cheques (better than cheques really)...

 

[fiddler]

Its like a certified cheque. The money was paid up front and its the same as depositing cash. Your money is guaranteed to you when you have the money order in your hand. Its safe to send away the "sold" items as you do not have to wait for the MO to clear the bank.

 

[Wendell]

...provided that the document is not a forgery.

The accepting financial institution will telephone Canada Post to authenticate the postal money order. Until that is done, you should assume that it may be a fake.