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Encyclopedia > Postal order

A postal order is used for sending money through the postal system. postal orders can be bought and redeemed at post offices, come in fixed denominations, and are legal tender in the UK. The fee for using this form of payment tends to be around 8%.


  Results from FactBites:
 
Postal Order - Wikipedia, the free encyclopedia (521 words)
Postal Orders are not, strictly speaking, legal tender, in the way that banknotes are, but are a type of promissory note, similar to a cheque.
Postal orders were declared legal tender during both World War I and World War II as a way of saving on both paper and labour.
The use of postal orders (or postal notes in some countries) was extended to most countries that are now part of the Commonwealth of Nations, plus to a few foreign countries such as Jordan, Egypt and Thailand.
Money order - Wikipedia, the free encyclopedia (1167 words)
Money orders are also a more trusted method of payment since it is required that the funds be prepaid for the amount shown on it.
Unfortunately, most of the institutions that issue money orders charge a "non-refundable service fee," which is sometimes greater than the value of the money order itself―especially for lower denomination money orders (the service fee[1] for filing a claim with MoneyGram, for example, is $12).
International money orders are thought to be safer than sending currency through the post because there are various forms of identification required in order to cash an international money order often including a signature, and a form of photo identification.
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