People who need to send cash to others living right across the city or in a different state, prefer money orders or cashier's checks. Although both are convenient options for sending cash, there are certain subtle differences between the two. A money order can be purchased from both financial as well as non-financial institutions.
A cashier's check on the other hand is available only through a financial institution or bank. A money order proves to be less expensive option than a cashier's check. A cashier's check comes with an expiry date which a money order does not have. Hence, it can be easily cashed anytime. Cashier's checks come with a guarantee from the bank issuing them.
Money orders do not guarantee funds all the time as they can be canceled by the sender. You can visit a post office or your nearby grocery store for a money order, whereas, you need to approach a bank for a cashier's check. Here are two modes through which you can send a money order.
One of the safest modes of transferring cash is sending a money order from the post office. You can send a money order from the nearby post office at a very economical and affordable rate.
Purchase it from any post office in United States or rural route carrier, and you will be easily able to send up to USD 1000 through this service. If you purchase it from the post office for an amount of USD 3,000 or more, you will need a government or state-issued photo identification proof.
You can either pay the charges in cash, or through a debit card, credit card or personal check. You need to fill out a money order request form, and provide your and the recipient's details like name, address, phone number, etc. Make sure you fill in the correct amount, as you cannot cancel it in case of a mistake.
Then, you will be given a receipt that you should keep safely till it is cashed. This receipt contains your money order number that will help you keep a track of it. You can use this number to verify your money order, in case of a refund or while receiving it.
With advent of Internet, life has got simpler. You can approach online vendors to use their services to buy and mail the money order by paying an additional fee for this service. You can avail these online services 24/7. All this from the comfort of your home, at a slightly high cost is not a bad bargain at all. Just stay away from online frauds and scams.
Many people who are using this service for the first time wonder about getting money orders. Just walk in to the local post office, supermarket, grocery store or a financial institution, and send your cash over to the recipient effortlessly.