What is a cash order?

cash orders are financial certificates or notes used instead of cash to make a payment. They do not require a person who forces them to have a bank or credit account, so there is often a possibility when a person is not associated with a financial institution, or when the seller explicitly requires payment under this method. These tools do not have a expiration date, but are generally limited to amounts below $ 1,000. People can usually earn them without any problems, unless notes from a foreign country, in which case the payout is expensive. Available from places such as banks, grocery stores and American mail, are sometimes associated with washing money, but are still considered a very safe way to raise money to someone else.

What is

The cash order is a financial tool that allows a person to make a payment to someone else without using cash, checks, credit or other methods. Has a specified recipient and, like Sheklways, involves a hint of how muchHe has the recipient to get. It represents real money and can be easily converted to cash, so it is considered equivalent to cash.

History

people used these types of financial notes for the first time in the UK in 1792 by a private company. He did not do it very well and in the mid -1930s the system was taken by mail. The trend captured in the US as a safe way to send money and as a guarantee that money will be available.

General use

In most modern transactions, it is paid through debit or credit cards or through electronic transfers processed online. People still write checks, but this becomes less common, because the monetary system becomes more technologically advanced and more abstract. A person who receives a cash order usually does because he does not have access to one of these payment methods, which often means not holding banka or credit account.

The fact that anyone who has the right amount of cash can buy one of these certificates is very popular in adolescents and young adults. These individuals often did not introduce their own accounts elsewhere, but they may still have to make a payment for which they do not want to submit or send cash. Other adults still use these tools if they have problems with other payment methods, or if the seller expressly requires a cash order.

Purchase

When a person needs a monetary order, he goes to a retailer who works with them, such as US Post or grocery store, and gives the representatives the full amount of payment along with a small processing fee and completed order form. It indicates who should be the recipient at that time. Representative prints a note for the buyer who can then introduce it or send it to the recipient. It is good to ask ahead of time what the processing fee will be so that the buyer canBeing to bring enough cash to cover the transaction.

value limit

depending on where someone buys a cash order is the maximum amount that can be issued, usually between $ 500 and $ 1,000. If a person must make a payment that is greater than the limit that has an issuer, he can buy more than one note. The disadvantage of this is that the issuer charges him a processing fee for each certificate, not only one, which will improve the costly payment. Treasure checks are sometimes used as an alternative for payments over $ 500 to $ 1,000 for this reason.

Payment Warranty

The person who buys notes about this type must pay the amount of the certificate in full at the time of purchase. The payment has already been made, the buyer is guaranteed to receive the entire amount. Many companies also give another warranty to the notes they issue. This makes them much safer than sending cplatba ash.

Cashing

an individual who wants to earn money order has to diSleep several options. In general, it can take the certificate to any institution that issues them, such as mail and ask to be paid. These institutions are already working with these types of certificates and therefore do not usually charge for it. It can also submit it for inspection, but these organizations often charge the service fee. Someone who has a bank account may decide to save it in their local branch, because it would also be a check.

organizations that earn these financial instruments are worried about fraud. They usually apply for an identification of a person who makes a certificate for this reason. As soon as the agency verified that the recipient is who he says he is, he can usually continue with the transaction without any problems.

problems sometimes occur when paying this kind of comment if it has been issued by a foreign authority. Sometimes it is necessary to earn it in the country of origin, change the funds to the right domestic currency and then insert funds in the local bank. Walking through this process is in VA number of cases quite expensive, so this payment method is not ideal for international transactions.

expiration

One of the advantages of these certificates over other payment options is that they do not have the expiration date. Thanks to the Single Commercial Code, it distinguishes them from other than checks that banks are no longer technically obliged to cash after six months. Although these certificates do not expire, people usually earn them relatively quickly, either because it is necessary to complete the transaction, or because they need resources.

traving and fraud

issuers are usually clearly identified on these certificates. As a result, they are quite easy to watch back to buy. However, financial officers cannot always show where the bottle used to buy tools came. Combined with the fact that most institutions set the limits of how much this remark can be, and this makes certificates a way to wash money because the person can filter cash Pby rising cash orders purchased through many agencies. Members of the enforcement of law have long known about this problem, but in most areas they were not able to completely prevent this type of fraud.