posted on May 30, 2002 05:48:00 AM
Here's something that probably escaped everyone's attention about the USPS rate increases:
Effective June 30, 2002, the maximum value for money orders will increase from $700 to $1,000. The maximum value statement is printed on the back of the money order as a security measure. You must deplete the current stock of $700 maximum value money orders prior to using the $1,000 maximum value money orders. However, do not destroy $700 maximum value money orders to obtain $1,000 maximum value money orders. If a customer requests a money order for more than $700, you should issue two money orders. Issue the first money order for $700, plus a $1.25 fee, and issue the second at no fee. We anticipate that this situation will occur infrequently, as the average issued money order is for $135. Note that the fee for money orders in the amount of $500 or less remains $0.90.
