Money Order

Banking & Credit

A money order is a prepaid certificate for a specific amount, issued by USPS, Walmart, Western Union, MoneyGram, or banks. It's a safer alternative to cash for sending money to someone you don't have a bank relationship with — common for rent payments, mail-order purchases, or sending money internationally. Money orders typically cost $1-$5 to issue, can be cancelled and refunded if lost, and don't require the recipient to have a bank account. Maximum amount is usually $1,000. Postal money orders are particularly trusted; bank cashier's checks serve a similar function at higher amounts.