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postal order

  • 14-03-2012 10:47am
    #1
    shoes34
    Registered Users, Registered Users 2 Posts: 620 ✭✭✭


    I have a postal order but have not cashed it yet. It says that it will become void after 6 months. Does that mean that the money hasn't been deducted from the person who sent it account? I thought a postal order was like cash.

    also will the sender know when I have cashed it?


Comments

  • #2
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    shoes34 wrote: »
    I have a postal order but have not cashed it yet. It says that it will become void after 6 months. Does that mean that the money hasn't been deducted from the person who sent it account? I thought a postal order was like cash.

    also will the sender know when I have cashed it?

    The postal order is not linked to an account. The sender would have paid for it already via cash. They would not be aware if was cashed unless they specifically talked to the post office and they gave this info out.

    As per regulations the validity is as follows: "Six months from the last day of the month in which any Postal Money Order was issued, the Postal Money Order shall become void and have no effect and An Post shall be under no liability to pay it. An Post may pay the amount of such order if it thinks fit (subject to payment of the prescribed charge), despite such order being void."

    http://www.irishstatutebook.ie/2001/en/si/0485.html


  • #3
    shoes34
    Registered Users, Registered Users 2 Posts: 620 ✭✭✭shoes34


    chris85 wrote: »
    As per regulations the validity is as follows: "Six months from the last day of the month in which any Postal Money Order was issued, the Postal Money Order shall become void and have no effect and An Post shall be under no liability to pay it. An Post may pay the amount of such order if it thinks fit (subject to payment of the prescribed charge), despite such order being void." /QUOTE]


    Sorry does this mean that if I don't cash it the sender won't receive the money back - i.e. if its for €100 and I don't cash it he has lost out on €100.00 if I don't send it back to him?


  • #4
    craoltoir
    Registered Users, Registered Users 2 Posts: 781 ✭✭✭craoltoir


    Exactly.


  • #5
    shoes34
    Registered Users, Registered Users 2 Posts: 620 ✭✭✭shoes34


    thanks craoltoir, though it might be like a bank draft where you can cancel it. Will either cash it today or send it back to them.


  • #6
    coylemj
    Registered Users, Registered Users 2 Posts: 25,624 ✭✭✭✭coylemj


    It used to be the case that if you presented the Postal Order for payment after the expiration date, you had pay a charge equivalent to the original 'poundage' which is the premium the person who bought the PO had to pay.

    I wouldn't send it back to the sender, there is no relationship between a PO and the buyer as there is with a bank draft e.g. I get a draft from the bank to buy a car, I change my mind and bring the draft back to the bank who cancel it and put the money back in my account. A postal order doesn't work like that so if you send it back to the buyer and it has your name on it as the payee, he will encounter a whole heap of hassle trying to get his money back.


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