bceagles04
12-02-2005 22:04:09
when they send this to you, is it just in an envelope addressed to you, with your name on the check?
Anonymous
13-02-2005 10:01:25
I think it is more like a money order.
bceagles04
13-02-2005 10:11:36
[quote20a518c77a="nate08"]I think it is more like a money order.[/quote20a518c77a]
What does that mean?
bceagles04
13-02-2005 10:12:20
[quote0bbd383e4d="nate08"]I think it is more like a money order.[/quote0bbd383e4d]
What does that mean?
Collateral
13-02-2005 10:33:26
[quote463d1a9bd4="bceagles04"][quote463d1a9bd4="nate08"]I think it is more like a money order.[/quote463d1a9bd4]
What does that mean?[/quote463d1a9bd4]
What does that mean?
PodTopia
13-02-2005 10:40:05
A money order is really similar to a check. It's basically the same thing.
bceagles04
13-02-2005 11:06:29
well what is the difference??
Collateral
13-02-2005 11:08:32
Easy. Money order is used if you don't have checks. You can pay for money orders with cash. Money orders can be redeemed sometimes at the post office and at banks.
bceagles04
13-02-2005 11:15:14
So they send you a slip, and you redeem it for cash?
mistwolf
13-02-2005 12:45:33
Money orders are also 'guarenteed', unlike checks. You have to pay cash up front, so there is not time needed for it to 'clear' like checks have. A cashier's check is basically a money order that is from a bank.
adenosine
13-02-2005 14:42:33
[quote60e013c918="mistwolf"]Money orders are also 'guarenteed', unlike checks. You have to pay cash up front, so there is not time needed for it to 'clear' like checks have. A cashier's check is basically a money order that is from a bank.[/quote60e013c918]
No, a cashier's check is a check that is drawn on the account of the bank. Since the bank has the Fed to go to as a lender of last resort, that account will never be empty. That means like, unlike a money order, you can issue a stop payment order on the check. With a money order, that is not possible.
Check out http//66.102.7.104/search?q=cacheKwE355DSpDkJwww.roughnotes.com/rnmag/july99/07p12.htm
edit I can't type english and hit the bong at the same time
FreeOffersNow
13-02-2005 18:30:43
Thanks adenosine....I was wondering if anyone here besides me knew the difference(s) between different types of checks.
mistwolf
13-02-2005 18:55:57
[quotecf3c1bfa86="FreeOffersNow"]Thanks adenosine....I was wondering if anyone here besides me knew the difference(s) between different types of checks.[/quotecf3c1bfa86]
I was pretty close, I couldn't remember the other reason for cashier's checks over money orders. )
Cashiers checks are talked about in spy movies and such. You can get a money order at your local 7/11. So a cashiers check is way cooler than a money order. -D
mistwolf
13-02-2005 23:43:31
[quotee9764e2efa="BRC"]Cashiers checks are talked about in spy movies and such. You can get a money order at your local 7/11. So a cashiers check is way cooler than a money order. -D[/quotee9764e2efa]
Spy movies usually talk about bearer bonds, which are another beast entirely. )
Errr, you're right, they still seem to have a cooler feel to them though.