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Payments by Money Order: Merits and Demerits

Payments by Money Order: Merits and Demerits

<p style&equals;"text-align&colon; justify&semi;">Technically money order is a document from the bank&comma; post office or credit union that provides you with money&period;<&sol;p>&NewLine;<ul style&equals;"text-align&colon; justify&semi;">&NewLine;<li>Cheques&comma; on the other hand&comma; is a popular mode of payment&period;<&sol;li>&NewLine;<li>It is because it is very convenient to issue a cheque but&comma; cheques are not prepaid&period;<&sol;li>&NewLine;<li>The biggest benefit of a money order is that it is prepaid&period;<&sol;li>&NewLine;<li>A prepaid payment document is certainly more reliable than a cheque&period;<&sol;li>&NewLine;<li>It is proof that the issuing individual or company has the particular amount that is to be paid&period;<&sol;li>&NewLine;<&sol;ul>&NewLine;<h3 style&equals;"text-align&colon; justify&semi;"><b>Merits of Payment By Money Order<&sol;b><&sol;h3>&NewLine;<p style&equals;"text-align&colon; justify&semi;">1&period; Money order cuts down the risk of a fraudulent activity that can occur in the case of cheques&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">2&period; A money order ensures reduced risk of theft that prevails in the case of cash&period; Carrying cash to long distances by a public mode of transport can increase the risk of theft&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Converting the cash into a money order makes it convenient to take a big amount of money from one place to another far away place&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">3&period; Often customers use money order services&period; Some people are in a habit of using the money order to make and receive payments&period; This can be the direct reflection of the service being safe&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">4&period; A safe mode of payment is used more often than others to make sure a successful transaction&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">5&period; It may prove to be a risk sending the money through the mail as it may get stolen&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">6&period; The service is secured for another reason&period; That is authorization is necessary for cashing in a money order&period; Even if the document is misplaced by the bearer&comma; it is almost impossible for any other person to misuse it&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">7&period;  A cheque can bounce&comma; but the payments made by money order are paid before hand&period; So&comma; the money order rarely bounces&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">8&period; A money order can also be used as evidence that the payment has been made or received&period;<&sol;p>&NewLine;<h3 style&equals;"text-align&colon; justify&semi;"><b>Demerits of Money Order<&sol;b><&sol;h3>&NewLine;<p style&equals;"text-align&colon; justify&semi;">1&period; A money order can be forged to obtain more money than originally amounted&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">2&period; There is a processing fee involved&period; The processing fee is the money you pay to get your cash get converted to the money order and further from money order to cash&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">3&period; The processing fee for a money order increases with the increase of money that is to be converted into a money order&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">4&period; Counterfeit money orders can be issued to make the payments&period; That may result into the bouncing of money orders&period; Also&comma; presenting a money order for which the payor has obtained already withdrawn money will cause it to bounce&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">5&period; To bank a money order&comma; one may require hiring a person to go to the bank or post office to withdraw money&period; This will increase the labour cost&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">6&period; If a person visits the bank or post office by themselves&comma; it may result in time wastage&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;"><img class&equals;"aligncenter wp-image-1502 size-full" src&equals;"http&colon;&sol;&sol;billthelibrarian&period;com&sol;wp-content&sol;uploads&sol;2015&sol;10&sol;Picture17&period;png" alt&equals;"Payments by Money Order&colon; Merits and Demerits" width&equals;"350" height&equals;"203" &sol;><&sol;p>&NewLine;<h3 style&equals;"text-align&colon; justify&semi;"><b>When To use<&sol;b><&sol;h3>&NewLine;<p style&equals;"text-align&colon; justify&semi;">It is advisable to make and receive payment to and from international clients via Money Orders&period; This will ensure that the you receive a guaranteed compensation from the client for the services provided by you&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;"><img class&equals;"aligncenter wp-image-1503 size-full" src&equals;"http&colon;&sol;&sol;billthelibrarian&period;com&sol;wp-content&sol;uploads&sol;2015&sol;10&sol;Picture18&period;jpg" alt&equals;"Payments by Money Order&colon; Merits and Demerits" width&equals;"570" height&equals;"320" &sol;><&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">In Spite of mailing the cash through the post&period; It is advisable to use Money Orders to keep the hard earned money safe and secure&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Some Customers may demand payments through money orders if they are to carry the money to long distance via public transit&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;"><strong>Check Cashing Services &colon; http&colon;&sol;&sol;www&period;checkcashingusa&period;com&sol;<&sol;strong><&sol;p>&NewLine;

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