Reported 1 day ago
Money orders are secure, prepaid payment methods used instead of cash or checks, and can be purchased at various locations like post offices and grocery stores. They require the sender to fill out relevant details and are guaranteed funds, eliminating the risk of bouncing. With fees ranging from $1 to $5 depending on the issuer, money orders offer a convenient alternative for those without bank accounts, wishing to send cash securely, or wanting to maintain privacy. While they have advantages, such as not revealing bank details, they may incur costs and can be harder to track if lost.
Source: YAHOO