What is a certified cash order?
Certified cash order is generally a safe way to transfer money from one side to the other. It is purchased at the American post office or at any number of retailers for a nominal fee except the amount of the face and then given another party in the same way as cash. Given that the issuing institution is guaranteed by a certified monetary order, many companies and governments are more trustworthy.
The idea of a certified monetary order occurred in 1792, when a private company in the UK launched this practice. Exceptionally high fees limited their popularity as a means of payment until in 1836 the idea of a smaller company that charged lower fees. 1838, the US Postal Service took note of the popularity of the payment method and began to provide the service to its customers for even lower fees.
in the US, a certified cash order purchased on the SO has in SOA timeless time limit of $ 1,000 in the US (USD) for home transfers and $ 700 for international transfers. There are three parts of a certified cash order for security purposes. The main part is the order itself, which indicates the amount for which it is good and the person that is due. The second part is a attenuation that includes the number of certified cash orders that provides the buyer's payment proof. The US postal service or retailer also maintains a hard or electronic copy of a certified cash order if there is any dispute between the payer and the recipient.
Although this type of cash order is considered to be one of the most difficult things that need to be forged, especially when purchased from the post office, it can also be used by financial predators. A common system with certified cash orders is for a fraudster to send one random person and ask that person to earn a cash order in the bank and send some of the money back. Certified cash orders take place by other systemsMem than checks and may take a while to bounce in a financial institution. This allows thieves to get with money before the bank sometimes realizes that it is not good, and left the victim for an account.
If you receive a cash order that is certified, the best way to avoid fraud is always cash on the post on the post office; The postal service has access to a system that immediately provides a notice of whether the money order is legitimate. Although no payment is guaranteed, the certified cash order is perhaps one of the most economical and safest ways to send money between two parties.