Foreign currency money orders

Post by **DawnHRD** » Tue Dec 11, 2007 8:58 am

HHDRC has just been sent a money order (not a cheque - the funds have already been paid to get it) from Canada. The last time we got one & I paid it into the HHDRC bank account, it took 45 days to clear & I had to pay over 300 bt commission up front just to get them to start processing it. Does anyone know of a better (ie cheaper or quicker) way of processing a foreign currency money order here in HH?

Post by **Roel** » Tue Dec 11, 2007 12:53 pm

45 days to clear and 300 Baht commission sounds not too bad to me Dawn. As a matter of fact I am surprised that your bank accepts them in the first place. Rather complicated and insecure payment method (many counterfeits). Sorry I can not help you Dawn, but just out of interest: which bank does accept them and do you have to pay an additional fee when the money comes in?

Post by **DawnHRD** » Tue Dec 11, 2007 6:51 pm

Really? Wow. I thought it was a secure way of paying.

It's Bank of Ayudhya & it was 300 odd baht on $500Can (not sure if it was commission based). As far as I know I didn't have anything deducted on receipt & I got about what I expected re exchange rate.

Thanks for the info.

Post by **Takiap** » Sat Dec 15, 2007 8:06 am

Hi Dawn

If you still have a UK bank account, there is a service in the UK which is really good and only charges 50 pence. For this fee, you can include as many postal orders, money orders and even cheques. You log on to the site and register with them first then simply follow the instructions. This will include you filling out an online form stating what all it is you want cashed. Once done, click submit and then simply post the orders, cheques, etc to them and the money will be in your bank accout within days of them recieving the actual orders or cheques. While you do have to post to the UK, it certainly is a lot quicker than waiting 45 days. I have used the service hundreds of times in the past and I have only good things to say. If you're interested you can pm me and I'll dig up their details for you.

Shane

Post by **Roel** » Sat Dec 15, 2007 8:33 am

Hi Dawn,

Did not mean to scare you. Of course it IS a secure way of payment as it is pre-paid and therefore can not bounce. Since your's came from Canada and probably even from a person you know you do not have to worry about it for a second.

What I meant to say is that banks process the things so slowly because of the high fraud percentage which is due to the fact that crooks are very much attracted to this (non-)payment instrument. So your (genuine) payment order has to go through the same procedure together with the hundreds of payment orders that people received today after they sold their laptop on the internet and had it shipped to Lagos.