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Answered May 19, 2020
A money order is a form of payment method in which the full payment is made upfront instead of withdrawing it when the recipient’s cash it. This method is the reason why it is said to be a safer payment option as compared to having a checkbook that has personal information in it. The maximum limit of the money order is generally a thousand dollars. There is a minuscule amount that is charged on a couple of dollars to make a purchase.
There are different establishments where this type of payment is available such as gas station retailers and post offices and convenience stores. A cashier’s check, on the other hand, works the same way as a money order, except the financial institutions only provide them. Just like money order, as with a cashier’s check, the payment is received upfront, and the bank secures the funds.