You might need a money order if you’re buying a car from a private party, and the seller refuses to accept a personal check from you. If you sent them a check, they’d have your account information.īut if you send a money order, these details are kept out of their possibly untrustworthy hands. They’re great for sending money to a company you find yourself having to deal with, but don’t entirely trust. With credit cards, you risk getting your identity stolen. Many people prefer them over checks and credit cards as a way to pay. That’s because they spare an individual who struggles with balancing their checkbook the excruciating embarrassment of bouncing a check. Money orders are perfect for people who can never seem to balance their bank account. For People Who Have Trouble Balancing Their Checking Accounts That’s a lot of people who are among the “ unbanked,” which means those not served by a bank or similar financial institution. I believe that this is directly connected to a marked increase in people who no longer trust banks.īecause they’ve shamelessly ripped off their own customers, leaving taxpayers to foot the bill, it’s no wonder that distrust of banks is at an all-time high.Īll of this sleazy behavior on the part of financial institutions may account for the 8.4 million households in the country don’t have a checking or a savings account. The number of places issuing money orders has increased drastically in recent years. Is the Rise of Money Orders Fueled by Bank Distrust? These were curiosities like Sea Monkeys, X-ray vision specs, or the Charles Atlas Power Isotonics Bodybuilding Course.Īnd because I didn’t have a checking account, I would have to get a money order to pay for these things. However, I couldn’t resist buying some of the cool things I found on the back of comic books. I used to get a lot of money orders when I was a kid-usually, from the Post Office, which was a mile or two from my house.Īt that time, I delivered the Springfield Republican, a Western Massachusetts newspaper.īut even at a young age, I was very frugal and saved most of what I made. It’s a safe and secure way to meet all your financial obligations. However, this is a foolhardy practice that will make everyone question your sanity. One option is to stuff an envelope with enough cash to satisfy the debt and then send it through the mail. Let’s further say there’s no way in hell you’re going to use a credit card to pay what you owe. Saves You from Having to Mail CashĪnd let’s also say you don’t have a checking account. In that case, use money orders until you’re ready to take that initial plunge into fiscal responsibility. Maybe you’re young and just entering the world of adult responsibilities for the first time.Īnd, thinking about getting a checking account fills you with paralyzing anxiety and dread. If you need a more secure alternative to sending cash but can’t use a check, a money order can be the answer to your prayers. If you don’t have a checking account, money orders are a fast, easy, and relatively cheap way to pay your bills.Īnd, they offer many of the same benefits that checks do. Great If You Don’t Have A Checking Account That’s hugely reassuring for people who’ve been burned in the past by check-bouncing deadbeats. This means there’s almost zero chance that there won’t be sufficient funds to cover the money order amount.
These companies are reputable to the max. That’s because the cash that for the money order is safely tucked away in the bank account of the money order provider. One of these problems is that just like Bumbles from “Rudolph the Red-Nosed Reindeer,” checks can bounce.īut there’s no friggin’ way this can happen with money orders. They’re a great alternative for people who have had problems with checks in the past. That’s because even in the era of an endless number of technologically advanced ways to meet your financial obligations, sometimes the old ways are best. However, those who think that they belong alongside such old-fashioned things as VCRs, dot matrix printers, and landlines are dead wrong. In our increasingly sophisticated digital world, some people might think that money orders are rapidly becoming obsolete. This article is a response to that question. For those people who don’t use checks, an often-asked question is, “Where can I get a money order near me now?”
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