Money Orders popularity?

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I'm 29.
I have never used a money order.
The only time I have heard of them is when scams on Craigslist ask you to pay with a money order.
There are also signs for them at currency exchanges on the corners in poorer neighborhoods in Chicago.

I put everything I can on my credit card for the cashback and then pay it off every month.
99% of daily purchases go on the credit card.
I use my debit at Aldi only.

If I need to write a check I have my bank mail one through the app on my phone.

For monthly bills, I pay 2 on my credit card, internet and cell phone.
The rest do not accept credit card so I pay via online banking.
For I pay all of my bills on a single day each month.
It takes me about 8 minutes to pay them all.
I think it works great.

Friends all use the same bank, if i we need to give someone money I either use cash if I have it or send them a quick transfer from my checking account, all free.
 
Originally Posted By: ShotGun429
I use dozens of money orders a month, I have to.I have a cash bussiness, (Auto shop) and I cant run more money thru my Checking account than I turn in to IRS, So I am forced to use many money orders to make things seem "right". and Yes!! Their use are on the upswing lately.


So...laundering then...
 
I don't often use a Money order, but when I do it is USPS.
Occasionally I will order something from a known individual that only takes MO.
For instance I had a custom part made for a rifle.
Works fine and I don't have to give out my bank account info.

The only check we write is for the lawn guy , sometimes pay him cash.
All utilities are auto pay , and 99.99 % of my retail purchases are w Discover.

I still like to carry good old cash .
 
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Ok, when I saw the subject I thought it was a pretty silly topic. But then as I started reading I got something of an education. I had no idea so many people use money orders.

Like a couple of others have mentioned though, I've never used a money order in my 67 years on this planet. I also use my credit card to pay as many bills as possible mostly with auto pay, and then pay it off at the statement due date. By the way, I have that set up as an auto pay too! I've done so for over 20 years. With the points I accumulate I get to choose my rewards and I always choose a check or a Visa debit card. Right this minute I have a check for $100.00 on my desk waiting for me to deposit it, from my Visa card company.

I write 1 check per month for rent and then maybe 2 or 3 more through the year for the odd payment that won't accept any other form. An order of checks lasts forever.

However, I can still remember when everyone, including myself, carried my check book wherever we went and used it like we would a credit card today!

The only place I use my debit card is at the big box store because I don't have their favored flavor of cc.

I would hazard a guess that much of the new demand for money orders is coming from the "immigrant" population.

It's good to learn something new.
 
When ebay was first gaining steam in the late 90s, the stuff I'd buy was typically paid for by money order. The reason was that it was dubious sometimes if cash was received, and a vendor accepting a check would have to wait for it to clear, for like seven days. So a money order was good as cash with notionally a way to retrieve the funds in case of fraud (never had to try so I have no clue if it worked), and not wait for check clearance.
 
Traveler's cheques are good if you are in Yemen and if you have to pay ransom to get your wife back. The hostage takers prefer traveler's cheques to any other form or payment. They will not accept an international money order or credit card.
 
Originally Posted By: Astro14
Originally Posted By: ShotGun429
I use dozens of money orders a month, I have to.I have a cash bussiness, (Auto shop) and I cant run more money thru my Checking account than I turn in to IRS, So I am forced to use many money orders to make things seem "right". and Yes!! Their use are on the upswing lately.
So...laundering then...

Yeah, money laundering and tax evasion. Good stuff. Aside from Gunbroker purchases and folks who use check cashing stores, that seems to be their only other sensible use.

I have never seen a traveler's check, even after my 6 years working retail. I definitely wouldn't accept one. I thought their use had gone by the wayside with the greater use of credit cards.
 
I always keep emergency funds in the form of traveler's cheques in my money belt. Unlike traveler's cheques, a credit card can be electronically detected, no matter how well you hide it on or inside you.
 
Money orders used to be a good way to get money to another state or country without suffering the 7 day out of state check waiting period. When living paycheck to paycheck you can't afford the one week wait.

Nowadays I notice MoneyGram is very popular for that purpose.
 
Money orders are popular in low income neighborhoods because residents have little other options. High fee 24hr currency exchanges replace the traditional banks.
 
Originally Posted By: Alfred_B
Checks can bounce. Money orders do not.

It's a risk management strategy not to take checks.


Since when?

A money order is just a promise to pay, or, in other words, a check. The only difference is the maker.

I seem to recall a C Store chain went under and left a lot of money orders unpaid.

I have people who pay rent with money orders. It makes zero sense to me. Just give me a check, or give me cash and I'll give you a receipt. Sheesh.
 
Originally Posted By: Win
Originally Posted By: Alfred_B
Checks can bounce. Money orders do not.

It's a risk management strategy not to take checks.


Since when?

A money order is just a promise to pay, or, in other words, a check. The only difference is the maker.


A money order is paid for, so it can't bounce. If I go with a money order to the bank or post office I know I will get the money. If I take a check, i don't know it won't bounce, unless it's a cashier's check. I have noticed that some people are reluctant to pay with PayPal. Since mailing cash is lllegal, they end up sending a money order or check. If they give me a choice, I ask them to send me a money order.
 
Originally Posted By: Nate1979
Money order can be faked. They are not bulletproof.


In which case I don't ship, while I do inform the Feds.
 
Originally Posted By: BRZED
Originally Posted By: Nate1979
Money order can be faked. They are not bulletproof.


In which case I don't ship, while I do inform the Feds.


Haven't you people heard of Paypal? Just the fact that someone wants to pay with a money order should raise red flags.
 
Originally Posted By: dishdude
Originally Posted By: BRZED
Originally Posted By: Nate1979
Money order can be faked. They are not bulletproof.


In which case I don't ship, while I do inform the Feds.


What decade is this? Haven't you people heard of Paypal?


I use PayPal all the time. Great for paying. But for receiving funds, I do prefer postal money orders. No fees and I go to the post office anyway to drop things off. I have never run into a fake money order.
 
The main reason I could think of, car51, would be that some recipients trust a money order more than a personal cheque. Perhaps some recipients are getting burned a lot, and people are pushing money orders. Of course, if the cost of a money order is sensible, that's another draw. Up here, most times, money orders are very expensive, so personal cheques or other means are preferable. Some institutions up here don't actually even offer "money orders" any longer, just sticking with bank drafts.

And yes, money orders can be forged, as has already been pointed out. I used to use them a lot when ordering stuff from the States before online credit card ordering become commonplace. It was the easiest way to convert Canadian funds to an American currency payment.
 
Originally Posted By: BMWTurboDzl
If you're talking about money orders from some place other than a bank I think that individual is unbankable for some reason. .



If a person overdraws their account they do get blacklisted; it's not just the credit reporting agencies there is also a "ChexSystems" monopoly.

But if someone sees their sister/friend etc get hosed by a bank for fees, blacklisted etc they may make they conscious choice to stay clear of banks and use "alternatives". $.49 for a MO may beat $10 a month for a crummy checking account at the only bank within walking distance of poorville. In which case they are bankable but also smart enough to stay clear.
 
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