Money Order
Definition of 'Money Order'A certificate that allows the stated payee to receive cash on-demand, usually issued by governments and banking institutions. A money order functions much like a check, in that the person who purchased the money order may stop payment. |
|
Investopedia explains 'Money Order'Money orders are readily accepted and converted to cash, and are often used by people without access to a standard checking account. Money orders are an acceptable form of payment for small debts, both personal and business, and can be purchased for a small service fee from most institutions.Money orders were first issued by American Express in 1882, and later became popularized as traveler's checks. |
Related Definitions
Articles Of Interest
-
The Ins And Outs Of Bank Fees
These service charges could nickel and dime you right out of your nest egg. -
Your First Checking Account
This owner's manual will show you what to expect from your bank. -
Different Needs, Different Loans
Find out what options are available when it comes to borrowing money. -
Financial Career Options For Professionals
Find out if spreading your wings to try a new career will make you soar or fall flat. -
If I want to have some cash in a liquid account for unexpected emergencies, what is best? A savings account or another type?
It's always a good idea to keep some money set aside in a liquid form, but it's a double-edged sword, because the more liquid your money, the less it's earning. If you never have an emergency, ... -
3 Banking Moves You Should Make Before Traveling
Putting your finances in order should be one of your top priorities before traveling out of the country. -
Clearing Up Tax Confusion For College Savings Accounts
Put your kids through school without being hounded by the tax man. -
Besides a savings account, where is the safest place to keep my money?
Savings accounts are safe because investors' deposits are guaranteed by the Federal Deposit Insurance Corporation (FDIC) for bank accounts or the National Credit Union Administration (NCUA) for ... -
Changes To Your Checking Account
Checking accounts have evolved a lot over the years. Here are the five biggest changes that can affect your wallet. -
The Most Costly Banking Mistakes You Can Make
With changing and increasing fees, it can be difficult to avoid bank charges, but investing time in finding out what your bank charges, and when, can help you save money.
Free Annual Reports