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Safe Money Orders - Tips From The FDIC

Saturday, June 19, 2010 - 10:02 AM
I was reading over the June 7th FDIC Consumer Tip of the Week regarding steps to take to prevent check fraud. It referenced a 2007 FDIC Consumer News article with some tips about avoiding fake checks and money orders. Most of these tips are now common knowledge (like don't accept checks from strangers). However, I did not know about this one if you need to receive payment from a stranger:
consider asking for a money order from the U.S. Postal Service. These come in values of up to $1,000 for domestic money orders and up to $700 for international money orders.

To confirm that a Postal Service money order is valid or to cash it, you can take it to a local post office. You can also verify a Postal Service money order by using an automated service at toll-free 1-866-459-7822.

Here's the USPS Money Order page. They appear to be inexpensive, convenient and secure.

Money orders from private companies are more likely to be fake. Clark Howard had a show note on this.
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Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
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