MONEY ORDER Meaning and
Definition
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A money order is a financial instrument that acts as a prepaid form of payment. It is a type of payment that allows individuals to transfer money to a recipient via a secure and traceable method. Money orders are usually issued by banks, post offices, or other financial institutions and are widely used when a personal check is not accepted or when a more secure payment method is desired.
The process of obtaining a money order typically involves paying the desired amount in cash or through another acceptable form of payment at the issuing institution. The institution then issues a physical document that functions as a valid and guaranteed payment. This document contains the designated recipient's name and payment amount, as well as a unique serial number that ensures its authenticity and tracking.
Money orders can be used to send money domestically or internationally, with varying fees based on the amount being sent and the destination. They are often preferred by individuals who do not have a bank account or who want to ensure that their payment is received securely and without the need for personal banking information.
Additionally, money orders can be replaced if lost or stolen, providing an added layer of security for both the sender and the recipient. This also makes them a popular alternative to cash for certain transactions, such as paying rent or making purchases through mail-order catalogs.
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In Great Britain and Ireland, an order, payable at sight, granted by a post-office for any small sum of money, and made payable at any post-office wished in the United Kingdom, or in certain of the colonies, on depositing the sum named and the payment of a small commission.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Top Common Misspellings for MONEY ORDER *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for MONEY ORDER
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Etymology of MONEY ORDER
The word "money order" originated from the combination of two separate words.
The term "money" can be traced back to the Latin word "moneta", which referred to a place where coinage was produced or minted. Over time, it developed into the Old French word "moneye", which meant "coin" or "currency". Eventually, it entered Middle English as "moneie" and later transformed into the modern English word "money".
The word "order" comes from Middle English and has roots in the Old French word "ordre" and the Latin word "ordinare", meaning "to put in order" or "arrange". It was used to denote a command, instruction, or direction.
When combined, "money order" refers to a specific type of financial instrument or document that instructs a financial organization to pay a specific amount of money to a designated recipient or payee.
Similar spelling words for MONEY ORDER
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