money order

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money order

A customer purchases a money order at the post office counter.

Definition

Noun: A money order is a secure, prepaid financial instrument. It is a written document, issued by a bank, post office, or other authorized institution, that directs the payment of a specific sum of money to a named individual or organization. The payer purchases it for the exact amount, plus a fee, and it can be cashed or deposited by the designated recipient.

Usage

A money order is used as a safe alternative to sending cash or a personal check through the mail. It is often required for transactions where the sender does not have a checking account or where the recipient requires guaranteed funds.

Examples
  • I need to send a money order to pay for the application fee.
  • The landlord requested the security deposit via a postal money order.
  • She purchased a money order at the convenience store to pay her bill.
Advanced Usage
  • "To issue a money order": To create and sell a money order to a customer.
    • The post office will issue a money order for a small service charge.
  • "To make a payment by money order": To use a money order as the method of payment.
    • All international payments must be made by money order or bank draft.
Variants and Related Words
  • Bank draft (n): A similar payment order drawn directly on a bank's funds, often used for larger amounts or international transactions.
  • Postal order (n): A type of money order specifically issued by a national postal service. (Common in British English).
Synonyms
  • Payment order: A general term for any document instructing a payment.
  • Cashier's check: A check drawn directly on a bank's own funds, similar in security to a money order but drawn from the payer's bank account.
Related Phrases
  • "To cash a money order": To exchange a money order for its cash value.
    • You can cash the money order at any bank or check-cashing service.
  • "Pay to the order of": The standard phrase on a money order designating the recipient.
    • Make sure you write the correct name in the "Pay to the order of" field.
money order

A customer purchases a money order at the post office counter.

Noun
  1. a written order for the payment of a sum to a named individual; obtainable and payable at a post office

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