Money order

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Money order

A financial instrument backed by a deposit at a certain firm such as a bank that can be easily converted into cash.

Money Order

A certificate entitling the payee (and sometimes simply the holder) to the stated amount of cash immediately upon receipt by the appropriate organization. For example, one may send a money order through the U.S. Postal Service; when the payee receives the money order he/she can present it to the Post Office and receive the requisite cash. The money order is considered secure because the issuing body must receive cash in advance of providing the money order. Some companies prefer money orders to checks because money orders do not bounce. However, their relative anonymity can be used for money laundering and other illegal purposes. As a result, banks and other organizations issuing money orders often place a limit on how much can be sent, and brokerages do not generally accept them for payment. An issuer charges a fee in exchange for writing a money order. See also: Certified check, Western Union.

Money order.

A money order entitles the person named as payee on the order to receive the specific amount of cash shown on the order.

You can use money orders in place of checks if you don't have a checking account or if the payee requires a guaranteed form of payment. You can purchase money orders at banks, post office branches, credit unions, and other financial institutions.

You can use money orders to send money internationally as well as within the United States. The United States Postal Service (USPS) has agreements with 30 countries that allow recipients to cash USPS money orders in post offices in those countries.

Sellers sometimes impose a limit on the size of the money orders they sell, and they typically charge a fee for each order. However, those fees are less than for guaranteed bank checks. One drawback of a money order is that you have no proof that payment was received.

References in periodicals archive ?
Sims presented the money orders to the clerk, and what happened next left him at a loss.
Modify drop-box slots with a piece of metal to make the slots just large enough for an envelope, check or money order to be inserted.
Though India Post has introduced electronic variants in the form of eMO and iMO, the e-Post Office will re-vamp the money order thoroughly, after 130 years of its launch, by harnessing the state of art information technology.
He later had the courtesy to respond by telling me that Nexus made the decision some time ago that it was costing too much to process cheques and money orders over the counter so, in keeping with other service outlets, the decision was made to accept them only by post.
Money Order completed a double on the card for Powell after Blaze Ahead stayed on best to land the novice handicap hurdle under Mark Bradburne, who gave his mount a canny ride, kicking clear on the turn for home.
Include proof of your money order and proof that it was cashed.
Adding consumer bill payment and money order services as part of the renewal agreement expands our relationship with Safeway and builds on our commitment to provide customers with a wide variety of options to manage their finances.
PESHAWAR -- National Accountability Bureau Khyber Pakhtunkhwa arrested Riaz Muhammad Rashid the Money Order Clerk GPO D.
So far, many of the victims have lived in moderate-income apartment communities where residents are required to pay by money order or do so because they have no checking account.
By contrast, the increases in money order fees appear to have kept pace with inflation at banks and increased at a faster rate at savings associations, although the latter started from a considerably lower base.
Payment by cashier's check or money order only; allow four to six weeks for delivery.
to offer global money transfer and money order services to consumers.