McGraw-Hill Employees Federal Credit Union Complaint - Restitution of Funds: Money Order
NEW YORK, NEW YORK -- I withdrew funds ($200.00) from my checking account in order to buy a money order. After mailing the M/O, I was advised that an item I ordered was 'counterfeit'- I immediately returned to MHFCU the same day and placed a stop payment on the money order. It has been over 8 weeks and I still have not received my funds. The employees of the bank said that they 'buy' M/O from 'FDR' and that they were not responsible for loss, stops, etc...
To help keep me as a potential future customer, I would like the following:
Since I was 'duped' into purchasing a counterfiet item from a fraudlent source, I implore my Credit Union to protect me. I placed a stop on the M/O a few hours after it was purchased. The employees told me that I would recieve my funds back - but not until 90 days after the purchase date. That seems unacceptable - they assured me that the payee will not be able to cash the M/O - why then must I wait the 90 days? I understand that that may be IPS's rules, but as my credit union, why aren't you protecting me - at least as a 'good faith' - the money will be returned - by August 18th - that has been assured my your credit union. If so, why not credit my account and have IPS forward you the funds??
At the very least I would like a response from your company regarding this incident.