Closing a Show: What's a Money Order & How to Use It

[babywings76]

I have a host who is closing her show. She said to tell her the total and she will mail me a money order. I have zero experience with a money order. What is it and how does it work? Will I be able to close her show before the end of the month?

 

[floccies]

The way I understand it, they pay cash for the money order. So it is like a "tracking system" for cash. She will have a record of it.

So in my opinion, it is better than a check.

 

[Shell Northway]

You deposit in your account, it is like cash but in a check form. No waiting to clear her account.

 

[kcmckay]

A money order is basically a check that should be guaranteed funds. Depending on your banks policies there may be a hold on it when you deposit. My bank that I also work for holds postal money orders for one business day and all others ie western union, money gram etc are held based on their routing number either 2 or 5 business days. They are easy to forge which is the reason for holds here but usually they are good. You deposit it just like a check. She can still make it out to you, usually you buy a money order for around $.99 plus the amount that the money order is to be for. HTH

 

[babywings76]

Oh that's nice! Thanks!

 

[babywings76]

A money order is basically a check that should be guaranteed funds. Depending on your banks policies there may be a hold on it when you deposit. My bank that I also work for holds postal money orders for one business day and all others ie western union, money gram etc are held based on their routing number either 2 or 5 business days. They are easy to forge which is the reason for holds here but usually they are good. You deposit it just like a check. She can still make it out to you, usually you buy a money order for around $.99 plus the amount that the money order is to be for. HTH

Oh no! I hope it won't have a hold on it! Ugg. Well, I'll wait and see what happens.

 

[kcmckay]

Oh no! I hope it won't have a hold on it! Ugg. Well, I'll wait and see what happens.

Depending on where it's drawn from you may be able to cash it at a grocery store or even at post office if it's a postal money order. If it has a hold which it may not, my bank didn't used to hold them that's a newer policy. A personal check may have a longer hold on it honestly.