how do money orders work exactly?

Question

is it sort of like a check or gift card that you can use at any places? if not, please explain to me. I am going to get one from a buyer.

Answer 1

A money order is a rock-solid promise that the piece of paper in your hand representing cash is 100% good for the amount written on it. You buy them at the Post Office or at 7-11. The person who gets it then takes it to a bank and cashes it. The Post Office does not cash them. Money orders are solid because the money is truly out there, in the account of the seller. The receiver goes to a bank, cashes it and the bank then "orders" the money from the seller's account and everybody is happy. They are the best way to send money because there is no argument as to whether the check is good or not. My advice is to only buy them at reputable sources because there are fakes out there. I'd not buy one drawn on the National Bank of Nigeria, for example...

Answer 2

How Do Money Orders Work

Answer 3

People pay cash in advance for money orders and they are supposed to be a guarantee that the money order is good. Seeing that it took cash to purchase it. But, as Mister said in his answer there are sooooo many scams out here almost everything is being duplicated and counterfeited. I also agree to only accept a money order from the United States Postal Service and while the person giving it you is there before you hand over the merchandise contact your local post office and ask for it to be verified. The employees at the Post Office have a list near each window to verify lost, stolen, counterfeit, and/or duplicated money orders. You also have that option with checks only taking Cashier's Checks is a good practice and only during business hours so you can call and verify the validity of the check with the bank. Be on the lookout. People are devious and this time of year especially. Be careful!!!!

Answer 4

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Money orders work similarly. You simple go to the post office, and ask for Money orders which cost no more than $3.00 each. You have to write down an ammount, you name, adress, and anything that is specified required upon you ticket. I likely recommend checks because they simply don't have a fee, and don't require going to the post office to pick one up, just head directly to pay for it or pay by mailing (Since Money Orders work the exact same way)

Answer 5

They are just like a check except that they are paid for in advanced so they will not bounce. Be careful as there are many scams out there and people try to make fake ones. If you get a usps money order you can cash it at the post office.

Answer 6

you buy one loose in the mail then try to get money back from mony order people to find out that it cost more to get it replased than what at the amount of that mony order was