![]() Plus, if the added balance of a cash advance sits unpaid for a while, it could also hurt your credit scores. And if it does, you generally will pay a fee for it and may be charged interest from the transaction date. Because issuers often want the cash upfront, they may not accept a personal check or credit card.Įven if a credit card is accepted, your card issuer could consider it a type of cash advance. You can typically pay for money orders using cash or a debit card. Fees for money orders are usually based on the money order’s dollar amount and are typically between $1 and $5. Money order prices differ depending on where you buy them. Paying with a money order can save you the trouble of waiting for a check to clear and post to your bank account. Plus, if you keep the money order receipt, you can use it to track your payment. So you might feel more comfortable with a money order if you need to send money by mail. And unlike cash, a money order can only be used by the recipient. Unlike a check, a money order doesn’t contain sensitive information like account numbers or routing numbers. If you’re sending payments through the mail ![]() So here are some circumstances when a money order may be helpful: If you don’t have a bank accountīecause you pay for a money order with cash, it can be a good alternative payment method if you don’t have access to paper checks. They can work as an alternative to cash and checks because money orders don’t require either party to have a bank account. With so many payment options available today-from checks to online apps and cash-you may be wondering when it’s worth considering a money order.
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