neatstuffusa
|
posted on May 31, 2002 01:26:47 PM new
Need a little expert advice.
In late April I sold three items to some bidders in Japan. All three paid with Japan International Postal Money Orders.
I took them to the bank for deposit, they said they had to send them somewhere (?) for processing and then the $$ would be credited to my account. OK with me.
Today, after a couple of weeks, a lady from the bank calls and says the MO's have been returned from Bank One who does their processing and they won't cash them.
As I said above, they are Japan International Postal Money Orders payable in US funds.
I'm confused...any advice?
Steve
|
captainkirk
|
posted on May 31, 2002 01:38:16 PM new
I've never dealt with these before specifically, but you might try calling your PO and see if they will cash them. My understanding is that int'l PO MO's are supposed to be accepted at US POs.
Maybe someone who really knows will answer you better, but you can try this now if you want.
|
Dejapooh
|
posted on May 31, 2002 01:54:15 PM new
About 1% of my sales are to Japan, and they either pay cash, or Postal Money order. I use Wells Fargo and I have never had a money order returned. I think they hit the wrong person at the processing center. They didn't know what to do, so they kicked it back instead of getting off their Arse and finding out.
|
vvalhalla
|
posted on May 31, 2002 02:01:52 PM new
Bring your ID and cash them at the US Post Office.
dendude
|
chathamsue
|
posted on May 31, 2002 02:22:29 PM new
I had a similiar situation. I called the bank manager & it was taken care of very quickly. They also had a $15-20 fee for cashing an international m.o. I refused to pay it since I had not been notified when they took my deposit. The fee was waived.
|
stopwhining
|
posted on May 31, 2002 04:26:56 PM new
depends on the bank ,smaller banks would have some problem with anything which is not drawn on a us bank.
but good old USPS would cash the money order for you,bring your id.
|
ok4leather
|
posted on May 31, 2002 07:27:08 PM new
Post office is the way to go - Bank bounced mine also charged me a foreign exchange fee and still sent it back to me - Post office cashed it without incident.
|
paloma91
|
posted on May 31, 2002 09:50:26 PM new
I have sold to a few people in Japan. I use Citibank. I think all of us would agree that it is pretty big. I tried to cash a Japanese postal money order and couldn't do it without incurring fees.
Now that I have learned my lesson. In my auctions and EOA emails, I always tell winners that international payments need to be in the form of an international money order in US dollars and DRAWN on an institution based in the United States or they can use Bidpay.com for convenience. so far, no problems.
Bidpay is pricey but for international transactions it is easiest and safest for me to use.
|
Tex1
|
posted on June 1, 2002 07:08:02 AM new
neatstuffusa,
Change banks. Japanese postal money orders should be treated as USPS money orders. There are no fees incured by the bank. I have been doing business with Japan, since before eBay and have had dozens of "pinkies" sent to me. My bank in "Hicksville, Tx" treats them just like cash. The first one WAS a problem. The cashier had never seen one and had no clue what to do with it. One of the bank VP's had to get involved, but after that date, no problems.
BidPay is actually about the same cost for my Japanese buyers. By the time they pay the MO fees and send it registered, as most do, the fees are a wash. The advantage to BidPay is that it is much faster, as I can ship after the second confirmation and wait for the money order.
|
chathamsue
|
posted on June 1, 2002 04:42:55 PM new
I went back & checked my records. The money order in question was in USD. My bank said they had to send it to their international division in another facility. The fee to use the international service was $20. Even with it being in USD. Based on past experience I find that banks will usually waive fees when disputed. In this case the teller had deposited the m.o. without comment. Then it was withdrawn from my account (I was notifed by mail) & a fee was charged. Had I been told of this when making my deposit I would have gone directly to the Post Office.
|
paloma91
|
posted on June 1, 2002 04:49:20 PM new
chathamsue, the same thing happened to me at Citicorp but they did tell me about the fees BEFORE putting it my account and I stopped them.
|
zathras11
|
posted on June 4, 2002 07:13:04 PM new
International Postal Money Orders, drawn in
U.S. Dollars, can be cashed at the USPS with
NO fee. Good luck!
Z
---
"Cannot say. Saying, I would know. Do not
know, so cannot say". -- Zathras (Babylon 5)
|
neatstuffusa
|
posted on June 4, 2002 07:28:42 PM new
Hey, Guys...
Thanks for all the advice.
I took the MO's and my driver's license to the local post office today and cashed them with no problem.
Thanks again...
Steve
|
