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 ?
However, no matter how beneficial it may be, money orders have their limitations:
Si es por cheque o money order o donaciones en especie, envielos a Samaritan's Purse, P.O.
Thanks for you have instrunct most of my associate about the money order, but they told me they can only pay buy caher chek so don't worry I will instruct him to issue you 100 percent cather cheque.
"Historically, you were talking about a two- or three-minute transaction [to issue a money order'," he says.
Checks, money orders and American Express are accepted.
He said that Electronic Money Order at Door step is under testing phase, adding that Ministry of Postal Services will shortly inaugurate the service for General Public country wide.
The Fee Must Be Submitted In The Form Of A Company Check, Certified Check, Cashiers Check, Treasurers Check, Bank Money Order, Or United States Postal Money Order.
However, aiming at quick transfer of money orders, the ministry has introduced 'Electronic money order' service.
The Electronic Money Order (EMO) is the swift way to transfer money from one post office to other post office.
An official of Pakistan Post told APP that Pakistan Post has introduced various financial services including Pakistan Post Savings Bank, Electronic Money Order (EMO) Service, Postal Draft, Instant Money Transfer, Money Order, Postal Order and Postal draft to achieve set targets.
BAHAWALPUR -- Following the business trends initiated by private cellular phone companies, General Post Office Bahawalpur is going to launch 'Money Order Paisa' service soon, Senior Post Master GPO
He said that at present, following services with varied features were being given including urgent mail service (UMS), Urgent Money Order Service (UMO), Fax Money Order Service (FMO) and Electronic Money Order (EMO).