TeachMeFinance.com - explain Postoffice money order
Postoffice money order -- An order purchased at a postoffice
in one place which is payable at a postoffice in another
place to a party named when the order is purchased. Such
an order is in fact a bill of exchange or draft. The order is
forwarded by mail by the purchaser to the payee (the one to
whom the amount of it is to be paid).
Orders payable in the United States are called domestic
money orders. Orders also are issued payable abroad; these
are called international money orders. The charge for these
orders is the amount of them, plus a moderate commission.
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