Eli5:Where exactly does my money go and how is it secured whenever I use a debit card?
In: Technology
I was surprised when someone in my apartment office questioned if my USPS Money Order paid for with my Bank Debit card would be good. I told her it’s better than a cashiers check, which can easily be faked, I never process a check I’ve received from a new payer or a large amount, until I go to my bank and have them verify it’s real before depositing it, or putting it in an ATM. If you deposit a check into your bank ATM, and it’s no good, it’s on you, it only takes two minutes to go up to the bank teller and ask them to verify a check. I’ve received several fake cashiers checks in my life when selling things. A USPS money order, takes the money out of my debit card, right there in the Post Office, making the Money order good in seconds, the clerks don’t even give me the money order until the money is taken from my bank and sent to the USPS system, there’s no other way they could do it. One clerk in my local P.O was watching the monitor printing out my last money order, there! she said, now your money is our account, here’s your Money order, fill it out now, and don’t lose it.
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