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 ?
The Get Your Public Relations Money's Worth commentary is available by sending check or postal money order for $9.
Buyers must pay with cash, postal money order, certified check or cashier's check.
deposit in cashier%s check, postal money order, or surety bond in an amount equal to five
Payment can be made by check or Postal money order, payable to "Postmaster of New York.
If the bidder chooses to submit the completed registration form and payment for the Annual Bid Security Program with their bid, company checks will not be accepted and the payment MUST be in the form of a non-refundable certified check, cashier s check, treasurer s check, bank money order, or United States postal money order in the amount of one hundred dollars ($100.
Those wishing to take part in the auction must submit an initial auction bid and a refundable deposit of $50,000 - payable by cashier's or certified check, bank or postal money order or credit card - to the Forest Service.
An Post said that from October 1 the pre-printed postal order will be now replaced by a postal money order which will be printed on demand and for the precise amount requested.
Contract notice: Purchase of services execution of postal money orders or cash to the benefits of pension provision and possible their returns.