Money orders are a lot like a prepaid check. The customer can take out a money order and make the money order payment at a secure financial institution like Check City. Then, the customer can use that money order in a variety of ways to make safe, prepaid payments.
Because money orders come with unique security features, they are used by many people and organizations for many reasons. Below we'll outline some of the numerous reasons people choose to use a money order.
10 Reasons to Use a Money Order
Money order services provide ideal money features like security and prepayment. Because of these helpful attributes, they are used for many different reasons. If you're wondering whether a money order is right for you, or if it'll serve the purpose you need then check out our list of some of the most common money order uses.
1. Send Money Internationally
Traveling internationally is already hectic without having to add financial stress into the equation. One way to make things easier is to use money orders. If you are traveling internationally and run out of spending money, you can coordinate with a family member to send you more funds through a money order.
A money order is the best way to send money internationally because of its safety features alongside its easy money transfer abilities. Now you can send money to Mexico, send money to India, send money to the Philippines, send money to Colombia, send money to the DR, or wherever you need it to go.
2. Secure Payment
One of the most helpful features of a money order is that they are a secure way to send money. This is because they are a form of prepayment. Because of this, many corporations will prefer money orders because then they'll know the payment has already been made.
3. Checking Account Alternatives
If you need to make a payment via check, but you don't have a checking account to take out checks from, then you're in a bit of a bind. Luckily, money orders are there as a secure alternative to checks for customers who need a checking account alternative when making check payments.
4. Send Money to Inmate
Through Western Union, you can send money to inmates. Sending money to an inmate can be difficult because the form of payment needs to be highly secure. Western Union money orders make it easy to send highly secure payments even to inmates.
5. Send Money to School
When children go off to school, it can be hard not to worry about them and their well-being. Thankfully, Western Union makes it easy to send money to school, wherever your child's school might be. This can also be a great way to safely send cash as spending money to your college student no matter where they end up at school.
How to Send Money to School with a Money Order
Sending money to school with a money order is simple. Just visit your local Check City store location and a teller will help you fill out the money order form. Then you can pay for the money order and send it off to the school of your choice.
6. Can You Pay Your Federal Taxes With A Money Order?
Yes, you can pay your federal taxes with a money order by making it payable to the "US Treasury." The US Treasury is "who" you'll want to send your money to in order for the IRS to get that federal tax payment. The IRS also suggests you make sure you include your name, phone number, the tax year, the tax form number you used to file taxes, and your social security number (SSN) on the money order when you send it in.
7. Paying Bills
Another one of the most common money order uses is to pay bills. These are great for paying bills because they are accepted virtually everywhere and they are widely recognized as a secure and official form of payment. In some ways, they are an even better bill payment option than checks because they are prepaid.
How to Pay Rent With a Money Order
Paying rent with a money order is simple to do. All you'll need to do is visit your financial service provider with the money you want to use to pay rent along with your personal identification.
8. Make Large Purchases
When you need to make a large purchase, you often need to think about how you're going to pay. You need to be able to carry a large amount of money safely and securely to the place you need to go. Credit cards and debit cards are one way to do this, but money orders provide a specific payment form and receipt for a large purchase. Then, you can also avoid carrying large amounts of cash at one time.
9. Security Deposit
Many apartment complexes and landlords prefer their renters to make security deposit payments on a rental with money orders. This allows landlords and apartment complexes to receive a secure form of payment that has already been paid. This allows them to also not have to worry about checks bouncing.
10. Send Money by Mail
Need to send money through the mail? Stuffing cash into an envelope and sending it through the post office is not a very secure way to send funds. People can more easily see when an envelope is stuffed with cash versus a simple piece of paper like a money order or a check. Money orders can also only be deposited by the designated recipient so they can't be stolen and used by thieves as easily as cash can.
What to Do With a Money Order
What do you do with a money order once you have it? If you are trying to send the money order you can mail it, transfer it through money order locations, or turn it in where it needs to go.
If you've received a money order, then you can deposit it at your bank, credit union, or another money order agent location.
If you've never used a money order before, think about using one now. The security and prepayment features can save you lots of hassle when making important payments and sending funds. Looking for even more secure, prepaid options? Try a prepaid debit card.