This order comes with the instruction to pay the recipient a specific amount of cash that the sender provided. To make the transfer of cash from its sender to the recipient happen, a third-party company will take the order from the branch where the sender is and communicate it to the branch where the recipient is. For its part, the third-party company will give the cash to the recipient.Ī money order transaction is usually resorted to when the sender of the cash and the recipient do not reside in the same locality thus, the possibility of physically handing over the cash in person may not be possible. To expedite the transfer of money, the sender pays a third-party company, like Western Union or MoneyGram, to receive the cash. This convenient financial device helps facilitate the exchange of money in various transactions.īut unlike the usual exchange of money, there is a third party that makes the transfer of cash possible. On the part of the money sender, there’s no possibility of overdrawing and its consequent charges.
Where is the serial number located on a moneygram money order stub full#
If the recipient of the cash presents proper identification or other requirements, he or she will get the full amount. Unlike a personal check, a money order can’t bounce. Getting a money order from your local bank.ĭid you know a money order is safer than a personal check?.How can I tell if the money order I received is legit or not?.Did you know it is safer to mail a money order than cash or check?.Why would I want to have a money order?.Did you know a money order is safer than a personal check?.
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