Advice for an online gun auction please.

[Edg]

I recently sold a pistol on a different forum. I recieved a us post office money order. I assumed people used money orders because they are just like cash. when I took it to the bank they said I would have to cash it against my account balance. If I deposited it, it could take up to 10 days to clear. I said whats the point of using a money order instead of a check then? She shrugged. I asked well after it shows up in my account that means its clear? She say no it can be pulled back by the issuer of the money order for up to 10 days. I explained what I was trying to do and she got even less helpfull when I said I was selling a gun.
This was all yesterday afternoon. This morning I check my balance and the money is in my account......do I send out the gun? Could the guy with the stub cancel the money order while the gun is in transit, then still pick up the gun at his ffl? What would you do? Ship the gun, or wait a few days? its driving me nuts because I only sold this gun to get another out of layaway...but now I dont want to spend that money and be screwed.
I also dont want to make the guy wait because more then likely its legit?
Advise me

[Snert]

Sounds like one of three things happened here.
1- Maybe they didnt have enough cash in the draw to cover it.
2- The teller was LAZY...and just didnt want to deal with it.
3- New employee, and clueless

I have sold a few cars on e-bay. All buyers sent USPS money orders. I went to the post office, cashed em on the spot.

There is NO reason to deposit it in your accouunt. The USPS excepts the cash from the buyer. Basically they give him a voucher/coupon saying the cash is in our possesion. You recieve the voucher/coupon, with ID of whom its made out to. They then hand you back the cash.

It was a true USPS money order correct?? not a off company using the name "postal money orders" ?

Honestly, I would have asked to speak with her top manager. I would never deposited it in my accouunt, they are supposed to be cashed on the spot by USPS. As long as you bring the proper ID that it.

Snert..

[Edg]

yaeh it was a usps money order. I wish I had known this yesterday I woulda just cashed it at the post office.
Im mostly worried about the ability of the other guys ability to cancel it. After i drop the pistol off at my ffl Im screwed if it doesnt clear.
The money is in my account already this morning, she just has me worried.

[The_War_Wagon]

ABSOLUTELY clueless teller.

I deposit 'em like checks if they're big. If they're under a hundred bucks, I cash 'em at the PO for some 'walkin' around' money.

[Edg]

Its for 700$
I just went over to the other forum. He been on there and active in buying and selling for a while and I dont see anything negative.
Plus in some of his regular posts he drives a truck and hunts so he's got to be ok. Guess im just paranoid.

[bogey1]

I got the same info from my bank. cant cash it, have to deposit it. regular checks can be withdrawn within 10 days too , they say..

[Edg]

Its available now. Im going to withdraw it today and send the guy his gun and get mine out of layaway.

[thebearpack]

I've always treated POMOs like cash. From the buyer's perspective it's a hassle to go get cash and then stand in line at the post office to get a money order, so if he did that and has good history & feedback on this site, I'm sure he's expecting you to ship ASAP. If you were going to hold the payment for ten days he probably would've preferred to just write a personal check and save himself the POMO hassle.

I've bought and sold online countless times and (IMO) the most important thing is the integrity of the other party. If he's got a good reputation, you probably have little to worry about.

[Edg]

Yep, thats how im gonna look at it too, sending his gun out this morning.
Leaving now in fact

[sbmania]

Since he has activity and good feedback elsewhere, you are probably fine. However, there have been instances of fake USPS MO's which have bounced several weeks after deposit. I take MO's directly to the post office, where they will usually cash them no matter the amount. Although, I have occasionally been told to come back later in the day when more cash is available, or to go to a larger PO, not my local one. One time they did not want to cash the MO because they said it looked fake. I took it to another PO and they cashed it fine.
My policy with checks, mo's etc, is to not ship the item until I have the cash in my hands. I make this clear to in my ebay ad so there are no misunderstandings. If you deposit into your bank account and a check or mo bounces, they will debit your account, even if you have already withdrawn the money, and you will still owe the bank. My CU told me that checks can be rejected even several weeks after they were deposited, so you can not really feel safe on a questionable or unknown purchaser for three or more weeks.