12/14/2023 0 Comments Money order online![]() That’s how they make money on these things. Whenever you buy a money order, you’ll pay the business a processing fee. In other words, just pay up front with cash or debit. And the ones that do will charge you extra fees to try to make up for the risk they’re taking on. That’s why most businesses won’t actually accept credit cards as payment for money orders. But for all the business knows, you might not. Charging it to a credit card is basically like taking out a loan: You get something with real cash value and say you’ll pay it back. Just make sure you buy your money order with cash or a debit card-no credit cards. And it helps protect you too (more on that in a minute). The money order helps the sale go smoothly because it’s prepaid, so your cousin knows you actually have the money. And then he’ll take the money order to the bank and either cash it or deposit it, just like a check. They’ll print it out with all the right details, including your name, who it’s for and the amount.Īfter that, you’ll give the money order to your cousin. You can go to a business that sells money orders-like a grocery store, pharmacy or post office-and buy a $500 money order. Let’s say you’re buying your cousin’s old sound system for $500. That’s when a money order comes in.īut what is a money order? And when is it a good idea to use one?Ī money order is basically a prepaid check. And sometimes cutting a personal check isn’t enough. These situations all have one thing in common: They’ve got the potential to put your money at risk.Īs much as we love the freedom of cash, there are times when you need a payment method that’s a little more secure. ![]() Putting down a security deposit on a new apartment. ![]()
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