Is it better to pay with money order or check?

Question

I was told that I could either pay my apartment rent with personal check or money order. I was told by a few friends that they pay there rent with money order. They said its alot easier to do. Any suggestions would be appreciated. Thanks

Answer 1

I pay my rent with a Money Order, that way it's not as big of a deal if it gets lost in the mail, and you don't have to wait for a check to clear the bank.

Answer 2

It's easier to pay with a personal check, obviously since you don't have to run out and buy the money order.

It also costs less as you'll be between 50¢ and %1.50 per money order purchased. Most community banks and credit unions offer free or low cost checking that will cost you less if you write only 2 or 3 checks a month.

Then you have the risk of losing the cash or having it ripped off on the way to the store to buy the money order. If that happens, you lose. Period!

Finally, if a check is lost, a quick phone call to the bank will stop payment on it. Then you can write another check immediately.

Although you can stop payment on a money order if it is lost or stolen, it takes much longer for them to verify that it was not cashed and get your money back to you. You STILL have to come up with the money to pay your rent, however, so you're out of pocket the value of the money order for several weeks in most cases. Worst of all, if you lose your copy of the money order receipt it's nearly impossible to have a lost or stolen money order replaced. With a check, you only need the check nunber to stop payment on it and that's pretty easy to find among the duplicate copies of your checks.

Answer 3

I pay cash and obtain a receipt if the debt collector is an attorney. If the debt collector is a collection firm - money order with a copy for my own records. Anyone else - personal check is preferred and there's essentially zero chance that a credit card company, medical provider or any "legit" business would take funds from a checking account without your permission. Cashier checks are a bit overkill - but Banks also provide money orders although they cost more than the local 7/11.

Answer 4

Kate
Each of these methods of payment have their own unique pluses and minuses !! With a money order -- the recipient KNOWS that they have their money in hand -- period --- with payment by check -- there is always that chance that the check COULD be insuffiencent in funds to back it up !!
And, with a money order there is the "replacement" option in case there is a problem and it gets lost somehow !! You WILL however HAVE to find a place to keep the "reciept" from these money orders -- because, unless you receive a written "reciept" of payment from the recipient -- these are the only recourse you have in proving payments made !!

With a check, it is convienient and quick -- no "going to get a money order" -- you simply -- pull out the checkbook and write the check ! It travels well by mail if needs be and you have a record of payments made by way of the "carbon" AND by way of the bank records once this instrument has been drawn on !! You HAVE no reciept however that it has actually been SENT however --- and if it is lost in the mail or some other such thing-- it is simply your WORD that you sent it ---- and sometimes THAT is very hard for a business owed to accept !!

Answer 5

I would think a personal check is easier because it's right there already. But as a past landlord I preferred Money Orders simply because they are already confirmed funds. You can't get one unless the money is already there, and for that reason they never bounce. Plus, they're traceable. If it doesn't make it to where it needs to go you can call the number on the receipt and either cancel it or find out if some other bank has already had it. Me, personally I pay with regular check because I already have them, but most landlord prefer MO's.

Answer 6

I'd use a check instead. If you need to prove you've paid your rent, you'll have a copy on hand or maybe your bank offers web access to your check images.

A money order would take time to trace from the place you bought it.

Answer 7

well, i pay mine with check. personally, it's easier. if your office is in the complex, you can always just go drop off the check to them. if you pay with money order, you have to inconvenience yourself to go to the store or check cashing place to get the money order and stand in that long line. the personal check you already have. you should know how much is in your account so just dont over-spend until the check has been cleared.

Answer 8

Money orders are easier, but a check is your personal record of a payment your bank backs you up if theres litgation.. its an easier record too. moneyorders you'll have to keep all those little stubs somewhere?safe. checks you have cancelled ones or statements from a bank easier to hold on to and go for taxes too...theres taxes on your apartment too.

Answer 9

you have two choices, money order - bad bc if it gets losted or misplaced its harder to track, good bc its equasl to cash but it coszts usally 10 bucks tog et amoney order made

check is better, in case the check is cashed and then miscredited u can get a front and back copy from ur bank to trace the check to where the funds were credited to

Answer 10

I would have to say money order. I think that would be easier