The post office is more than just a place to drop off and collect your mail. They offer a plethora of other products and services to their customers which can make it a convenient alternative solution. You might not realize that local post offices sell shipping supplies, and many offer services other than sending mail. Two of the additional products offered by mail are money orders and bank checks. You can buy them anywhere and they are affordable and safe.
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What Is a Money Order?
A money order is a paper document, similar to a check, used as a form of payment. You purchase a payment order by paying in advance the amount printed on the cover of the payment order in cash or other form of guaranteed money. Then, all you have to do is fill in some information.
How Money Orders Work?
A person who buys a money order will have to fill in the recipient’s name on a form and the amount that the recipient should receive. Most payment orders have a maximum limit of $ 1,000. Therefore, a buyer would need to purchase multiple orders if he needs more than the stipulated limit. Be sure to fill out the payment order carefully; it’s a one-time purchase and you need to keep good records of it.
The financial institution or authorized body that issues the payment order to the payer will have the name of the beneficiary, the name of the issuer and the amount of money that can be withdrawn. This dollar amount does not include the fees charged to the beneficiary. Consider all costs when purchasing money orders. A bank or credit union usually charges more than a convenience store to issue money orders.
Getting Cashier’s Checks From the Post Office
A cashier’s check is a check printed by a financial institution or government agency through a cash register and is guaranteed by a bank’s funds. It is considered a safer way to carry out a transaction and is used for a variety of situations, from real estate deals to the purchase of a car. They are offered at the post office for a fee of approximately $ 10.
This form of payment is recommended for transactions over $ 1000. In addition, cashier’s check is a more secure form of payment because it is issued to a specific person, which reduces the risk of theft and fraud. Unfortunately, the cashier’s check cannot be redeemed at the post office, but it can be at a bank or other large financial institution.
Getting Money Orders From the Post Office
Bank checks and passport forms are not the only additional services that post offices offer. Payment orders are one of the safest ways to make a payment to a company or person, because they offer greater security and are traceable because they have serial numbers that can be easily verified.
Many companies choose to only accept money orders instead of checks, because it offers a payment guarantee without the risk of being returned due to insufficient funds. Payment requests are recommended for transactions totaling less than $ 1000, and can also be discounted at post offices with proper identification. A postal order will cost approximately $ 1.20 for amounts below $500 and $1.60 for amounts above $500 and up to $1000.
International Money Orders
Another option that the Post Office offers to customers is international money orders. You can purchase an international money order of up to $ 700 for $ 8.25. This is a good solution for people who cannot perform an electronic transfer and wish to carry out a financial transaction with an entity located in another country. The international payment order works in the same way as in the United States and can be withdrawn from most international financial institutions worldwide.
Military Money Orders
Military money orders can also be purchased from a military post office and cost $ 0.40 each. These types of money orders also work in the same way as traditional money orders and are useful for paying bills or buying items at the military base or for sending money from accounts at an international military base.
Conclusion
The next time you go to the post office to get stamps for your correspondence, remember that the post office is also a simple and secure way to get a cashier’s check or money order without having to use a banner or other financial institution. . Anyone who has trouble with common payment methods, such as cash or credit, should purchase a money order or cashier’s check at the post office for added security and convenience.
