Money orders may seem old-fashioned, but they're a secure way to transfer money, especially if you have to put it in the mail. They help sellers feel confident in the security of a transaction, and many sellers prefer them over personal checks. Payment is guaranteed with a money order, and you can purchase them in many locations, increasing convenience. Learn your money order basics, here.


1. What Is a Money Order?

A money order is a financial piece of paper similar to a check, but you don't need a checking account to get one. Think of it as a cashier's check that you can buy in places other than a bank. When you purchase one, you typically pay for it with cash. It is valid for the amount printed on it, and you should protect it the way you would cash.

what is a money order

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