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 ?
Sims in a bedroom and questioned him again about the money orders, according to the family.
48,97,920 was misappropriated by the accused in fake money orders payments.
Check Into Cash offers a full suite of financial service products which include check cashing services, bill payment services, wire transfer services, money orders, reloadable prepaid debit cards, gift cards, tax preparation services and ATM access in select locations.
disbursement of funds for BISP has evolved that includes continuous processing, monitoring and reconciliation of the specialized money orders scheme.
Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders.
Chairman and Chief Executive Officer Ric Duques said, "A strategic review of our Official Check and Money Order operation highlighted the fact that the business is in a declining market and providing unacceptable returns on both assets and equity.
Director General said electronic money order service is the fastest and a safe mode for transferring maximum amount in shortest possible time to other cities across the country.
The quality of its services and confidence reposed in the organization by the department may be perused from its revenue profile and increase in its functions apart from its core business of mail transmission and money order distribution, they claimed, in a press release issued here on Monday.
Pakistan Post has introduced UMS Window (Urgent Mail Service Window) and Electronic Money Order services for ensuring fast delivery of important letters and money orders she said.
ISLAMABAD, October 26, 2009 (Balochistan Times): Pakistan Postal Service (PPS) has introduced money order service Mobile Money Order in collaboration with Mobilink.
Speakers highlighted various newly-introduced services of Pakistan Post including fast fax, saving bank deposits, internet western union money transfer, money order and electronic money order and other being provided to the people.
Pakistan Post has normal money order traffic of about 6 to 6.