What is a Money Order?
Sam needs to pay his rent. His apartment complex will not accept cash or personal checks for his payment. Therefore, in order to pay his rent, Sam needs either a money order or a cashiers check.
First, Sam goes to a local bank to ask for a cashier’s check, and he is shocked when he hears that it’s going to cost him an additional $15. Sam then asks about a money order. The teller says that a money order is going to cost him an additional $5. Although this is better than the $15, Sam still thinks it’s a bit ridiculous that he has to pay extra just for this service. Not wanting to spend additional money, Sam calls his dad to ask what to do. His dad informs him that he should go across the street to his local 24/7 Advance Financial since they offer free money orders.
When Sam walks across the street to Advance Financial, he is greeted by Kim who is smiling and holding up a “happy to help” sign.
The process of getting his free money order is quick and easy. Sam is able to get his money order for free and pay his rent. He plans to come in each month to his local Advance Financial to get his money order for rent.
So, What is a Money Order?
A money order is similar to a check. It is a paper payment that you can purchase with cash at your local Advance Financial. Unlike a check, a money order can’t bounce since the funds are guaranteed when purchased. It is also a great option if you don’t have a checking account.
To purchase a money order, you need the recipient’s name and the issuer’s name. Having these two pieces of information on the money order, makes it more difficult for just anyone to cash it. It’s also important to save your receipt in case either party loses the money order.
A money order is a great way to send money through the mail. Unlike a check, a money order does not include your personal bank information such as your account number. Carrying around a money order is much safer than carrying around a large amount of cash, since the recipient is the only one able to cash it. Many sellers prefer money orders over checks because they are more secure. For example, many apartment complexes might require you to pay with a money order, just like in Sam’s case.
How to Get a Money Order with Advance Financial
Unlike many other places you can get money orders at Advance Financial and our money orders are always FREE. There is no limit on the number of money orders you can purchase. You must pay for your money order with cash, and the money order can be redeemed at any of our locations where money orders are accepted. Find a store near you.
