Money Order

(redirected from Money orders)
Also found in: Dictionary, Thesaurus, Legal, Financial.
Related to Money orders: bank drafts

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 ?
We believe the new money order arrangement with Travelers Express, coupled with the revolving line of credit, is a positive change for our company," said Donald H.
Sims received a call from a postal inspector who said he had determined the money orders to be counterfeit.
That is double payment against each money order was made, original was paid to the recipient in the sub post offices while accused used to withdraw an equal amount for himself in the main office.
The most common way a money order goes missing is by rental drop box theft, with the use of any type of equipment that usually includes some type of wire with a sticky substance placed at the end.
Unfortunately, initial attempts to locate the owner of the money orders proved to be unsuccessful, even frustrating.
Nexus returned her Post Office money order with a covering letter, explaining that she should renew the card "at any of the Nexus Travelshops nearer the time".
Public Access President Les Schlesinger said 50% of his company's monthly clientele pay their auto insurance bills by cash or money order, making Vcom a convenient conduit for their payments because the kiosk accepts cash-up to 30 bills of different denominations at one time-through the machine's bunch-note accepter.
has been using Positive Pay, a product from PNC Bank, since June to inspect exception items from the money orders it sells in its 236 stores in eight Southeastern states.
She purchases money orders to pay her bills and stashes her savings in a cookie jar.
The court found that money orders that were recovered from the prisoner had not been altered and the commission failed to explain why the prisoner's mere possession of money orders constituted conduct which extended into the community.
The company would sell money orders through a nationwide network of retail agents -- grocery stores, quick shops and the like.
Among the overwhelming rebuttal evidence was: The utility account remaining in the deceased tenant's name even after his passing; The vast majority of rent payments being made in the tenant's name, even after his death; The absence of any writing or even a claim of oral notice to management by the tenant's brother or nephew as to their alleged occupancy; The brother's admission that, although he claimed that his "address" was his brother's apartment, he actually lived with his children; The absence of any proof that the three money orders which bore reference to the nephew were not sent in envelopes bearing the prime tenant's name.