help from LONDONers please -- re: cashing money orders?

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help from LONDONers please -- re: cashing money orders?

Postby nick » Wed Dec 08, 2004 5:53 pm

hello thanks for looking in here. i'm trying to square with a London-based record dealer (reggae of course).

i placed an order and sent an international money order for payment, which was accepted. but i've since heard they have had difficulty getting it cashed.

i thought i'd used this same type of international money order to pay a seller from England before, but maybe i remember wrong.

does anyone have any wisdom here?

thank you.

--
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Postby jb welda » Wed Dec 08, 2004 6:02 pm

i think what you need is an international BANK DRAFT...an international money order is sort of problematic in that they probably have to pay (significant) money to cash it or something.

i used to have a connection for getting these bank drafts cheap (i think ernie told me about the place) but ive since lost track...oh wait:

international currency express, 888 278-6628.

last i tried, i think they wanted 5$ for the service and it had to be made out to a bona fide company, not an individual. you call them, order it up, give them a credit card number (or send a check) and they send you the draft to send to the seller.

paypal (or cash money) is so much easier in most cases...

one love
jah bill
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Postby nick » Wed Dec 08, 2004 6:55 pm

i wonder why it's called an "international money order" if it's hard to use internationally...

anyway, without diverting to that question, i'm still hoping someone on this board from England can advise?

as i said i'd thought i'd payed another UK dealer (David Slayen) with the same.

thanks for any help
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Postby tim p » Wed Dec 08, 2004 8:42 pm

I have received them before and banked them but this was a long time ago (a few years I think) so I'm not sure how helpfull I can be. As long as it was in UK Pounds I don't see why it shouldn't be possible to bank this.

As far as I'm aware Bill, an International Bank Draft is pretty much the same thing as an IMO - I may be wrong though.
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Postby Reggaemusicstore » Wed Dec 08, 2004 8:46 pm

What country are you in? I receive a lot of IMO's from people in other European countries & they come in the form of a cheque which either I can pay to my bank account or cash in at any post office. There are no costs involved for me & I receive the exact amount of UK currency which I ask for. If you're in the USA then I'm not sure whether the same system is possible from there. A bank draft is different in that you'll be paying bank fees for the currency conversion. As for David Slayen, steer clear of him, he's a major rip off artist! (Only joking, he's a good person to deal with!)
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Postby nick » Wed Dec 08, 2004 9:42 pm

thanks tim and steve

i am in the US but the dealer is in the UK. it's Supertone, whose service on this buy has been excellent, which is why i care to pursue this: they initially said a IMO would be fine, but apparently had trouble with it. still, they sent my wax immdiately! top service!

as for Mr. Slayen... he's good by me too. anyone seen a recent list?


thx again
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Postby jb welda » Wed Dec 08, 2004 10:09 pm

>A bank draft is different in that you'll be paying bank fees for the
>currency conversion

that is the exact opposite of the situation ive been in. an international money order is good internationally, but most banks charge money to cash it. an international BANK DRAFT is drawn on a bank with their approval and there should be zero fees attached to cashing it at that bank or at any bank that does business with that bank.

but this was always very confusing. thats why i found the place i mentioned above and stuck with them...they knew what they were doing and did it consistently.

as to the guy who originally posted this, what kind of trouble did they say they had? 99 to 1 it was "trouble" because they had to pay fees to cash it.

but then again, what the hell do i know? i was just buying records from foreign for like 20 years.

one love
jah bill
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Postby Anonymous » Wed Dec 08, 2004 10:29 pm

I once had to get an IMO in YEN in the UK - what a nightmare - it seems they just aren't really used anymore.

Ended up having to get my bank to make out an international cheque in YEN which would have incurred significant costs had my wife have not worked for said bank.
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Postby Reggaemusicstore » Wed Dec 08, 2004 10:56 pm

Jah Bill: In the UK when we receive an IMO it's usually a cheque issued by either Girobank (the UK post office "bank") or Alliance & Leicester (a building society, which is similar here to a bank) & it can be paid into a bank account without any fees being incurred. What I really meant to say & maybe didn't express it clearly was that the cost to the sender abroad to request an international bank draft is generally higher than requesting an IMO.
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