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Published: November 12, 2007
By definition, money orders are instruments whereby money is sent to another person located in a place generally far from where the person sending the money is situated. Money orders are not available for free, they have to be purchased at a certain fee. It is only when orders are paid in full can the money be properly sent to the intended recipient.
Money orders cover both domestic and international boundaries. Typically, when intended for people located within the same country, money orders of the domestic postal type are often used. The postal type of money orders are called such because they are principally purchased from the U.S. post office.
In general, sending money through money orders that are postal based are considered safe and secured. This is because these forms have several unique features that set them apart from the bogus kinds of money orders. The most common features that genuine money orders carry are the security threads, watermarks, typically carrying the image of Benjamin Franklin and differently-colored inks.
Meanwhile, postal-based money orders intended for use in the international sphere carry more or less the same security features. The basic difference between money orders of the domestic and the international kind lies in how much money can be sent. With the former, for instance, the maximum amount allowed for sending is $1,000. With regards to the latter, the maximum value allowed is $700.
The process involved in using international forms of money orders often includes the use of banks. The banks issue the appropriate money orders under a currency generally acceptable to the country where they are to be sent. Once sent, the recipient will usually be required to undergo several identification tests, including signature examination and a unique photo identification process, before being allowed to cash the sent orders.
Apart from the U.S. post office, money orders have also been recently made available in other places like groceries and convenience outlet stores. In addition, several specialized companies have devoted themselves to the business of transferring money. This includes Western Union, considered as among the leaders in the industry. Western Union carries a wide array of methods whereby money can be sent both locally and abroad. Unlike other businesses involved in money transfer, this company is known for making use of money orders both in the local and overseas fronts.
Despite the emergence of several more technologically advanced modes of transferring money, money orders continue to be quite popular. And as the internet begins to affect the lives of people more significantly, money orders have also made use of its basic technology by making money orders available online.
Western Union may well be among those online companies one can access when sending money orders. However, several others have come to realize the reliability of money orders and have made these available as well in their online services. Good examples of these are OrionPay and PayPal, with the latter known for selling money orders issued by Bank of America.
Sources:
"What is a Money Order?" Wise Geek. Conjecture Corporation. 12 Nov. 2007. http://www.wisegeek.com/what-is-a-money-order.htm.
"International Money Orders." Wikipedia -- The Free Encyclopedia. 9 Nov. 2007. 12 Nov. 2007. http://en.wikipedia.org/wiki/Money_order#Internati onal_money_orders.
"Money Order Security Features." United States Postal Service. USPS. 12 Nov. 2007. http://www.usps.com/missingmoneyorders/security.ht m.
"The Convenience of the Money Order, Now Available Online." PR Web. 2 Nov. 2007. Vocus PRW Holdings, LLC. 12 Nov. 2007. http://www.prweb.com/releases/2007/11/prweb566042. htm.
"About Us." Western Union. Western Union Holdings Inc. 12 Nov. 2007. http://corporate.westernunion.com/about.html.
Money orders cover both domestic and international boundaries. Typically, when intended for people located within the same country, money orders of the domestic postal type are often used. The postal type of money orders are called such because they are principally purchased from the U.S. post office.
In general, sending money through money orders that are postal based are considered safe and secured. This is because these forms have several unique features that set them apart from the bogus kinds of money orders. The most common features that genuine money orders carry are the security threads, watermarks, typically carrying the image of Benjamin Franklin and differently-colored inks.
Meanwhile, postal-based money orders intended for use in the international sphere carry more or less the same security features. The basic difference between money orders of the domestic and the international kind lies in how much money can be sent. With the former, for instance, the maximum amount allowed for sending is $1,000. With regards to the latter, the maximum value allowed is $700.
The process involved in using international forms of money orders often includes the use of banks. The banks issue the appropriate money orders under a currency generally acceptable to the country where they are to be sent. Once sent, the recipient will usually be required to undergo several identification tests, including signature examination and a unique photo identification process, before being allowed to cash the sent orders.
Apart from the U.S. post office, money orders have also been recently made available in other places like groceries and convenience outlet stores. In addition, several specialized companies have devoted themselves to the business of transferring money. This includes Western Union, considered as among the leaders in the industry. Western Union carries a wide array of methods whereby money can be sent both locally and abroad. Unlike other businesses involved in money transfer, this company is known for making use of money orders both in the local and overseas fronts.
Despite the emergence of several more technologically advanced modes of transferring money, money orders continue to be quite popular. And as the internet begins to affect the lives of people more significantly, money orders have also made use of its basic technology by making money orders available online.
Western Union may well be among those online companies one can access when sending money orders. However, several others have come to realize the reliability of money orders and have made these available as well in their online services. Good examples of these are OrionPay and PayPal, with the latter known for selling money orders issued by Bank of America.
Sources:
"What is a Money Order?" Wise Geek. Conjecture Corporation. 12 Nov. 2007. http://www.wisegeek.com/what-is-a-money-order.htm.
"International Money Orders." Wikipedia -- The Free Encyclopedia. 9 Nov. 2007. 12 Nov. 2007. http://en.wikipedia.org/wiki/Money_order#Internati onal_money_orders.
"Money Order Security Features." United States Postal Service. USPS. 12 Nov. 2007. http://www.usps.com/missingmoneyorders/security.ht m.
"The Convenience of the Money Order, Now Available Online." PR Web. 2 Nov. 2007. Vocus PRW Holdings, LLC. 12 Nov. 2007. http://www.prweb.com/releases/2007/11/prweb566042. htm.
"About Us." Western Union. Western Union Holdings Inc. 12 Nov. 2007. http://corporate.westernunion.com/about.html.
