Also known as an official check, you can use a cashier’s check just like cash – but it’s typically considered safer than carrying large sums of money, especially if you’re making a substantial payment. You can pick up a cashier’s check from your local bank or credit union, but yo...
A money order is ideal to use when you know you are going to make a large purchase, and you do not want to carry cash. You would use a money order when your debit card or personal check would not be accepted, and the amount is too large to carry cash. If you are purchasing a ...
you generally have to pay a fee for the money order and may be charged interest on it, too. So it’s a good idea to check your credit card agreement to see what types of transactions are considered cash advances.
Check-like:Whoever receives one of these instruments will deposit it just like a check, or they can attempt to cash the payment if their bank allows. Seller-preferred:Both are considered to be safer for recipients than personal checks because they're guaranteed (the question iswhoguarantees the...
Money orders are considered equivalent to cash. If you need to send money to someone, or do not have a checking account, a money order can be very useful. Money orders are similar to checks and are usually viewed and treated as cash. However, unlike checks, they do not require clearance...
Lower Fees: Money Order The fees for money orders are usually lower than those for a cashier's check and are popular for transactions such as providing a deposit for an apartment or other payments when checks and cash are not accepted or feasible. ...
A cashier’s check and a money order are both forms of payment that can be used instead of cash or personal checks, but that’s where the comparisons stop. Cashier’s checks are issued by a bank, are available in higher dollar amounts, are considered more secure than money orders, and...
Recipients can cash them at any location that cashes money orders. They don’t have to go to the same place that issued the money order. It may be possible for recipients to avoid cashing fees by depositing the money order into their bank account for free. Recipients should check with the...
Of course, it is also possible to simply walk into the bank with cash and purchase a money order that way. He or she can then make the money order out to whomever he desires, by filling it out and signing it like a check. A money order does not contain any identifying information, ...
A money order is a secure alternative to cash or a personal check, which you can use to send money or pay bills. It works much like a check and is usually issued by a government or banking institution. You can cash a money order or deposit it into a bank account. ...