Money Order

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Money Order


a means of remittance used by enterprises, organizations, and institutions to settle accounts among themselves or with individual citizens; also used by citizens among themselves. Money orders are issued by banks and savings offices or by postal and telegraph offices. They are used by legal persons and individuals to settle accounts for payments into the budget, to pay off suppliers and banks, for payment of wages and authors’ royalties, and the like.

A distinction is made between intracity and intercity money orders, and the latter are further subdivided into postal and telegraph orders. If the remittances are made by legal persons, the credit institutions and communications enterprises make various types of noncash payments, usually drafts. Commissions are collected from private persons for the issuance of money orders, while legal persons are only charged for telegraph orders.

In addition to the conventional money order, there are special-purpose forms that are used when the sum transferred has a predetermined purpose. Such remittances are used for settlements between legal persons and are paid from a separate account set up, for example, to pay for goods and services.

References in periodicals archive ?
He also told the inspector, as he had told the clerk, to check with the Rembert post office in South Carolina, where his aunt had bought the money orders.
We are still determining if the money orders are authentic and there was a violation of the antimoney laundering law," he said.
Si es por cheque o money order, envielo a World Neighbors, 4127 NW 122nd St.
McNary says the growth of the money order and money transfer business is a sign of the times.
Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders.
Between 1989 and 1993, the charge for money orders increased at banks about the same percentage as did the increase in the CPI and by substantially more than that at savings associations.
Checks, money orders and American Express are accepted.
Carter Hunt, Vice President National Accounts said, "We are pleased to enter into an Agent agreement with Check Into Cash to enable consumers to use Western Union's fast, reliable and convenient money transfer and money order services.
Earlier, in September 2012, the electronic money order service was launched in 40 GPOs of the country and this service has been extended to some 83 GPOs of the country.
00 in the form of a company check, certified check, treasurers check, cashiers check, bank money order, or United States Postal Service money order.
The purchasers of the money order wrote in their name and address and the date purchased.
The under construction post office would have facilities of Western nion, Urgent Mail Services, Electronic Money Order, Fax Money Order, International Electronics Mail, Utility Bills and other services, he added.