A check that a customer can buy for a small fee from some financial institutions or the U S Postal Service, issued to a specific payee for a specific amount
An instrument of exchange purchased for a fee from the U S 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 Thus, money orders are easily converted to cash anywhere in the United States, or anywhere the issuer has agents
A legal document that is a promise to pay the individual or business named on it a specified amount of cash when presented at a financial institution Money orders are an alternative to paying by share draft or check or cash
A substitute for personal checks This is a financial instrument purchased through a bank that is only payable to the person or company shown on the money order
A money order is a piece of paper representing a sum of money which you can buy at a post office and send to someone as a way of sending them money by post. An order for the payment of a specified amount of money, usually issued and payable at a bank or post office. an official document that you buy in a post office or a bank and send to someone so that they can exchange it for money in a bank postal order. Certificate requiring the issuer to pay a certain sum of money on demand to a specific person or organization. Money orders provide a fast, safe, and convenient means of transferring small sums of money. They are issued by governments (usually through postal authorities), banks, and other qualified institutions to buyers who pay the issuer the face amount of the money order plus a service charge. Because they are exchangeable for cash on demand, they are a generally accepted means of payment. The American Express Co. began issuing money orders in 1882; the company also created the first traveler's checks nine years later. See also currency