What is the difference between postal order and money order?
A postal order is not a legal tender, but a type of promissory note, similar to a cheque. A money order is an order for a specific sum of money, usually purchased with cash at a bank or Post Office, that can be used to make payments. …
What is the easiest way to get a money order?
Go to your bank. If you have a bank account, the easiest way to obtain a money order is to go to the teller and ask for one. Some banks may charge a small fee, but many offer money orders for free. Some banks offer cashier’s checks, which are similar to money orders.
Where is it cheaper to get a money order?
Money orders usually cost less. Walmart has some of the best prices for money orders, charging a maximum of 88 cents for amounts up to $1,000 with valid government-issued photo ID. The U.S. Postal Service charges from $1.25 to $1.76, depending on the amount. Banks often charge around $5.
How is money order done?
A money order is a paper document, similar to a check, used as payment. You buy a money order by giving cash or other guaranteed funds to a cashier, plus a fee for the service. They print out the order, you fill out some information, and send or give it to whomever you’re doing business with.
Do money orders expire?
Domestic money orders never expire and they do not accrue interest. Money orders are cashed for the exact amount on the order. You can cash a USPS money order at a Post Office for free. You can also cash them at most banks and some stores.
How do you ask for a money order?
Follow these five simple steps for filling out a money order:
- Fill in the recipient’s name.
- Write your address in the purchaser section.
- Include your account number if you’re paying a bill.
- Sign the bottom where it says “purchaser’s signature.”
- Keep your receipt.
Do banks sell money orders?
Cashier’s checks and money orders can be purchased at banks and credit unions, but money orders can be bought at many other places, including various grocery stores and convenience stores, Western Union, the post office and Walmart.
Do you need cash for a money order?
How can I buy a money order? Have everything you need: Be prepared with cash or a debit card, the name of the payee and the amount you want to send. Paying with a credit card might be possible, but will usually cost extra.
