What is a Money Order
Money order is an official order for the payment of a particular amount of money to the receiver whose name is mentioned in the form. This service is usually run by regional post office. In other words, it is a postal order to make payment of money through the post. Money order is a fantastic way to send money instantly to a receiver. This service is popular among people because it is a swift, safe and time saving idea of making urgent payments.
A form is obtained from the post office in order to send money to someone through the post office. Any person who sends money is known as the ‘remitter’ and one whose name is mentioned in the order to receive the amount of money is called ‘payee’. The required information asked in the form to make an order of money is filled in the form by a remitter. Then, the form along with the amount of money has to be paid is submitted to the related post office. The amount should not exceed than Rs. 5000/- as this is the upper limit of money order at a time. A fix amount of commission is also submitted by the remitter in the post office to enjoy the service. Then, the post office becomes responsible to send and deliver the amount of money to the ‘payee’ at home.
Money order is a useful service to send or receive money through post. Transfer of money through money order makes the task easy in this mobile age. It is a comfortable service which has been provided by the area post offices. This service is also helpful for the professional persons who deal with the clients living in a distant area. The client can send money to the professional person for the sake of their service. Thus, money order is a link to establish a distant profession without being there.
Now, parents do not have enough time to go to their children living in other city or state for high education. Whenever the children need money for purchasing some study material or paying college fees, they just make a call to the parents. Parents send money order to fulfill the requirements. They just need to go up to the nearby post office, not to the city where the children are living. In this way, money order has potential to save precious time and unnecessary journey to offer someone any amount of money.
Similarly, the earning person living in different city apart from the family can use the money order service to send money to the family. The postman of the relative area itself delivers the money to the particular person for whom the money has been ordered. The amount of money which has to be paid is discussed in the money order.