Money Order

(redirected from Postal Money Orders)
Also found in: Dictionary, Thesaurus, Legal, Financial.

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 ?
In October last year, the US Postal Service began selling the newly redesigned Postal Money Order, both a domestic version and an international version.
The contract is for the provision of services in implementation of postal money orders or cash sent by the Office of the Military Retirement throughout Polish.
The GOCR and its regulators have focused considerable attention on the formal financial sector; however, they have not adequately supervised money service businesses, especially money remitters, and issuers, sellers or redeemers of travelers checks and postal money orders.
Contract notice: Provision of postal services in domestic and foreign phrases including letters to the sender after exhausting the possibilities of service or customer issue and the implementation of postal money orders.
The subject of the tender is a framework contract with a single supplier for the supply of individual postal money orders for postal traffic.
Contract notice: Purchase of services execution of postal money orders or cash to the benefits of pension provision and possible their returns.