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 ?
After consulting with the postmaster, the clerk eventually cashed the money orders, but he and the postmaster were apparently still suspicious because they notified the U.
We are still determining if the money orders are authentic and there was a violation of the antimoney laundering law," he said.
Raise the height of the drop box to three feet or more from the floor so when residents drop off their checks or money orders the rent check will fall directly to the floor and not in a box that can be accessed from the outside.
With help from school officials and friends, the search will continue until the man who lost the money orders is found.
She presented the money order in Gateshead Travelshop only to be told that they "only accept cash over the counter".
Like the check casher up the street, he'll wire in customers' utility payments for free and sell them envelopes, stamps, and money orders to pay other bills.
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.
merged Western Union into an integrated payment system with money transfers, money orders, walk-in payment services and prepaid phone cards.
Survey information on the proportion of banks and savings associations that offered various retail services over time is available for the following services: auto loans, non-interest-bearing checking accounts, negotiable order of withdrawal (NOW) accounts (which are interest-bearing checking accounts), savings accounts, money orders and cashiers checks, the return of canceled checks, automated teller machines (ATMs), and safe deposit boxes.
When investigators raided the apartments, they recovered $1,304,595 in cash, along with money orders worth approximately $73,000, all in amounts of less than $10,000.