Postal Orders - Can the bounce (like cheques)

[booper]

Quick question - someone has paid me for an ebay item using a postal order. It was crossed, so it is treated like a cheque and must be paid into the bank. It hasn't cleared yet, and due to Xmas, won't clear till the 28th. Is there a possibility of the PO bouncing, and me not getting the money? Or is it guaranteed to clear?

Any help would be appreciated.

[Mayhem]

To have gotten the PO in the first place they would have needed to hand over some money, so it's 99% secure.

[MonkeyJuggleDX]

The only way you won't get anything from it is if they have cancelled it.

What bank are you with? I'm with Natwest and as soon as it is paid into my account, it shows up as available.

[booper]

The only way you won't get anything from it is if they have cancelled it.

What bank are you with? I'm with Natwest and as soon as it is paid into my account, it shows up as available.

I'm with Halifax Bank of Scotland. It says in the reciept that it will be available on Wednesday 28th.

How could they cancel it?

[in5ane]

I wasn't aware it could be cancelled, I think that's what 'crossed' ensures, and why people insist on using them. The cash has already been paid for the order, so I can't see how it can be rescinded.

[importaku]

Crossing a postal order means it can only be cashed into a bank & not at a post office.

They can't bounce. I didn't think you could cancel them either.

[Nakano]

I wasn't aware it could be cancelled, I think that's what 'crossed' ensures, and why people insist on using them. The cash has already been paid for the order, so I can't see how it can be rescinded.

You're right it can't be cancelled, as I tried to cancel it when I found out that person tried to scam me!

[chaoticjelly]

You can get your money back if it gets lost, keep the counterfoil and hand it in at the post office, they do a check and if its not been cashed you can get the money back.

Im not sure what would happen however if someone did that, whilst the postal order was awaiting clearance in someones bank account.. however I strongly suspect that the bank gets the cash from the post office on the same day you cash it.. they just make you wait as thats how they make their money..

[booper]

Thanks for the replies, looks like the money will arrive no problem.