Are money orders kind of like a cashiers check in that the account number is only good for that one check?

Was just wondering how money orders work. Does the company who sponsors them have a bank account that they issue checks on is the form of money orders or are the money orders each a form of single account? Am kind of wonering how that would work.

Asked by jerbac 35 months ago Similar questions: money orders kind cashiers check account number Business > Financial Services.

Similar questions: money orders kind cashiers check account number.

Are money orders kind of like a cashiers check in that the account number is only good for that one. A money order is a payment order for a pre-specified amount of money. Because it is required that the funds be prepaid for the amount shown on it, it is a more trusted method of payment than a personal check.

Merchants welcome the extra security of a pre-paid money order instead of a personal checkwho? Citation needed, which can bounce. Contentshide * 1 story of money orders * 2 Using money orders o 2.1 Drawbacks of money orders * 3 Money orders in India * 4 Money orders in the United States o 4.1 Security features of U.S. postal money orders (PMO) o 4.2 Example of counterfeiting * 5 International money orders * 6 Alternatives to Money Orders * 7 References * 8 See alsoedit story of money ordersThe money order system was established by a private firm in Great Britain in 1792, and was expensive and not very successful.In approximately 1836, it was sold to another private firm which lowered the fees, which therefore significantly increased the popularity and usage of the system.

The Post Office noted the success and profitability, and it took over the system in 1838. Fees were further reduced and usage increased further, making the money order system reasonably profitable. The only draw-back was the need to send an advance to the paying Post Office before payment could be tendered to the recipient of the order.

This drawback was likely the primary incentive for establishment of the Postal Order System on 1 January 1881.1edit Using money ordersA money order is purchased for the amount desired. In this way it is similar to a certified check. The main difference is that money orders are usually limited in maximum face value to some specified figure (for example, the United States Postal Service limits domestic postal money orders to US $1,000.00 as of July 2008update) while certified checks are not.

Money orders typically consist of two portions: the negotiable check for remittance to the payee, and a receipt or stub that the customer retains for his/her records. The amount is printed by machine or checkwriter on both portions, and similar documentation, either as a third hard copy or in electronic form and retained at the issuer and agent locations. Money orders were originally issued by the U.S. Postal Service as an alternative to sending cash through the postal system for those who did not have checking accounts.

They were later offered by many more vendors than just the postal service as a means to pay bills and send money internationally where there were not reliable banking or postal systems. New companies are 7-11, Cumberland Farms, Safeway, Western Union, MoneyGram, CVS, and Wal-Mart, who also offer these money devices. Edit Drawbacks of money ordersMoney orders have limited acceptance in the insurance and brokerage industry because of concerns over money laundering.

Because provisions within the USA PATRIOT Act and the Bank Secrecy Act, money orders require far more regulatory processing requirements than personal checks, cashier's checks, or certified checks. Thus, most brokerage firms, insurance firms, and even many banks will not accept them as payment. Sources: http://en.wikipedia.org/wiki/Money_order .

Cashiers check in that the account number is only good for that one check Put it through the test of verifying the routing number. You can do that at this site: routingnumbers.org/. It will tell you which bank the routing number belongs to and if that is different than the bank on the check then you are certain to have a bogus check.In which case you could notify the real bank and let them know that you received the check and give them the account number so that they can issue a fraud alert to the account.

Sources: answers.yahoo.com/question/index?qid=200... .

1 An individual cashier's check does not have it's own account number. It will have an account number that is of the bank on which it is drawn. A bank may have several cashier's check accounts if each branch has it's own number for accounting purposes.

Each cashier's check will have its own check number. Money orders will work essentially the same way. Who issues them and who they are issued through will determine how the accounts are set up.

Your question was a little convoluted, so I hope that I answered your question.

An individual cashier's check does not have it's own account number. It will have an account number that is of the bank on which it is drawn. A bank may have several cashier's check accounts if each branch has it's own number for accounting purposes.

Each cashier's check will have its own check number. Money orders will work essentially the same way. Who issues them and who they are issued through will determine how the accounts are set up.

Your question was a little convoluted, so I hope that I answered your question.

" "is the acct number on my cashiers check the same as my bank acct #. Both numbers are different. " "I would like to know on pre orders when does the money leave your account.

" "what is the phone number to make orders" "How do I check the company's checking account number I entered for direct deposit?" "Can I transfer a cashiers check to a bank account using only routing and account number off of the cashiers check" "Brokerage firm gave distribution last year. I Couldn't pick up the check until next day. Tax money returned to account." "how do I findmy account number" "where can I shop using my check account" "Check my account balance.

Is the acct number on my cashiers check the same as my bank acct #. Both numbers are different.

I would like to know on pre orders when does the money leave your account.

Can I transfer a cashiers check to a bank account using only routing and account number off of the cashiers check.

Brokerage firm gave distribution last year. I Couldn't pick up the check until next day. Tax money returned to account.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.