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View Full Version : Why does Kitco not accept USA Postal Money orders?



Breakaway
12-23-2014, 08:04 PM
Just wondering.This is my preferred way to pay,and I actually was considering buying some of the 1/2oz Gold Eagles on promo..but alas..no postal money orders accepted. Why?

Customer Care
12-24-2014, 10:26 AM
Hi Breakaway,

We understand postal money orders are a convenient way to pay because post offices are often more accessible than banks. For the sake of our customers' convenience, we did try to accept them in the past. Sadly, the project did not last long. Postal money orders seem to be significantly easier to replicate than bank money orders. This combined with the fact it is much more difficult to verify their authenticity with the USPS versus with a bank has caused us to stop accepting them following a slew of fakes of which some slipped under the radar. Given the fact we deal with precious metals, the potential loss was simply too great to allow us to continue taking this risk, and our risk management team had to put a stop to the program.

Breakaway
12-24-2014, 12:40 PM
Ok,thanks. Most other PM dealers accept them,so counterfeiting really can't be as bad as you have determined. However,maybe it has more to do with you being in Canada? Mark