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

Payments by Money Order: Merits and Demerits
