Cashier’s Test vs. Cash Order
Cash orders are basically the identical as cashier’s checks — they’re a safe method to ship cash to a 3rd get together. Nonetheless, whereas cashier’s checks are backed by a financial institution, cash orders aren’t. Cash orders might be bought at numerous places, comparable to U.S. Postal Service (USPS) places of work, drug shops, comfort shops, grocery shops, in addition to banks and credit score unions.
How Does a Cash Order Work?
Once you buy a cash order, you’ll want to offer the cash upfront, simply as you'll a cashier’s examine. You’ll sometimes have to pay for it utilizing money, a debit card, or traveler’s checks — sometimes, private checks and bank cards received’t be accepted. Not like cashier’s checks, cash orders could have a most restrict, often round $1,000 (in the event you want a bigger quantity, you may buy multiple cash order). You’ll even be charged a transaction payment for a cash order, but it surely tends to be cheaper than cashier’s checks. Relying on the place you purchase a cash order from — and the way a lot it’s for — the payment will fluctuate, however you may sometimes count on to pay anyplace from lower than $1 to $5.