What is a money order?

Answer 1

A money order is a method of payment. Essentially one purchases a money order for the amount necessay along with a small fee. In my experience 50 cents. I think you can get them from the post office but I think the post office sells them as well. A money order can them be used a s a mehod of payment when you do not want to use a check, or credit card.

Answer 2

A money order can be purchased at a bank, currency exchange and I think some grocery stores. A money order is similar to a check, except a money order cannot bounce. You give the bank teller $50 and you get a $50 money order. People who don't have checking accounts can use money orders to pay their bills through the mail or it can be used if you don't want to carry around a lot of cash. You keep the receipt for the money order, so if you lose it, you can cancel it and get a new one. Sometimes a company will request a money order instead of cash because the money is guaranteed.

Answer 3

A money order is (in a perfect world) guaranteed funds. Like everyone else has stated before, a bank, post office or some grocery stores will sell you a money order in exchange for cash. This can be used if you have no checking account, or when the payee won't accept a personal check.

One thing to remember. While a cashier's check or money order is considered "guaranteed funds" some large banks have still been placing holds on them. The reason for this is the escalating problem with forged or counterfeit money orders and cashier's checks.

Answer 4

A money order is like a check. Let's say you would like to make a purchase, but you can't send cash and you don't have a credit card or a checking account. If your purchase is $25, then you would go to a store (and I think banks carry them too) and buy a $25 money order and pay a small fee like $0.75 or $1.00. Then you send the money order as payment (just like a check) and the receiver gets the money from the store or bank you purchased it from.

Answer 5

A money order is something like a check but you go to the store and pay for someone to print out a piece of paper with the amount you gave them. People use money orders when they can't use cash to mail something off or they don't have checks. So it's something like you make your own check.

Answer 6

when you want to send money in the mail, you go to the post office and tell them that you want a money order and they will give you a sheet of paper you have to fill out and you write the amount of money. it protects your money so know one steals it.

Answer 7

you give your money telling them you wat a money order and they give you a paper that is money but called a money order. that's for places that don't, won't , can't etc take cash or a check. it's the same as a cashiers check too.