Hi, I just need a quick explanation to money order.
2007-02-16 18:02:51 · 8 answers · asked by Anonymous in Business & Finance ➔ Small Business
Similar to a check, you can purchase at a US post office, or at most banks.
2007-02-16 18:05:47 · answer #1 · answered by TE 5 · 1⤊ 0⤋
A money order is something you buy from a bank or other reputable place. You give them money for example $100 dollars and they give you a money order, which is like a check, for $100 dollars. You pay a small fee usually less than a dollar for the money order. It guarantees the money and if it is lost or stolen, it can be replaced. If you sent $100 dollars in cash in the mail and it got stolen or lost, you would just be out your $100 dollars. With a money order the money is guaranteed. Be careful where you but one because they can be counterfeited. Use a reputable bank.
2007-02-17 02:10:48 · answer #2 · answered by nesmith52 5 · 1⤊ 0⤋
In INDIA -money order is one where you go to a post office and send money to someone, where in you fill up a form giving details regarding the name, address and amount to be sent and amount is paid in the post office along with some fee, who deliver the same to the person named at the given address and you get acknowledgment slip as proof of payment. This is ideal way to send money to some body who does not have a bank account or for any other reason and is safe way.
2007-02-17 05:39:14 · answer #3 · answered by Kutty_21 4 · 0⤊ 0⤋
an instrument of exchange purchased for a fee from the Postal Service or from a financial institution. The instrument is an order to pay on demand a sum of money specified on the face of the order to a party (the payee) named by the purchaser. Since the purchaser has already paid the face amount of a money order to the issuer, the payee presenting the order to an agent of the issuer is sure of collecting the funds.
2007-02-17 02:07:35 · answer #4 · answered by Green Valley 2 · 0⤊ 0⤋
A money order is a type of cheque intended to provide a safe alternative to sending cash by mail. Money orders are also a more trusted method of payment than a personal check, since it is required that the funds be prepaid for the amount shown on it. Merchants (who may have no recourse in the event that a regular bank check may bounce) may welcome the extra security that being paid with a money order may offer.
2007-02-17 02:07:19 · answer #5 · answered by yakimablueyes 6 · 2⤊ 0⤋
In Australia, a money order is where you go to the post office and pay them money to give you a cheque for the amount requested. You also pay a small fee for the money order (about $2 I think it is) It's basically like writing a cheque but having a centralised place that does it for you and then you send it to the person or place to pay for the item that you have purchased.
2007-02-17 02:10:04 · answer #6 · answered by toymod 5 · 0⤊ 0⤋
A money order is like a cashiers check pretty much. You give someone the money you want transferred into the check or order and it is mailed to the person you wish it to go to either by them or through a postal box. Simple and easy!
2007-02-17 02:09:34 · answer #7 · answered by ~Les~ 6 · 0⤊ 0⤋
Bank draft.
2007-02-17 02:06:05 · answer #8 · answered by Dr Dee 7 · 0⤊ 1⤋