{"id":635,"date":"2018-03-21T23:09:43","date_gmt":"2018-03-22T03:09:43","guid":{"rendered":"https:\/\/www.encyclopedia.com\/articles\/?p=635"},"modified":"2018-03-21T23:09:43","modified_gmt":"2018-03-22T03:09:43","slug":"difference-between-money-order-cashiers-check","status":"publish","type":"post","link":"https:\/\/www.encyclopedia.com\/articles\/difference-between-money-order-cashiers-check\/","title":{"rendered":"Difference Between Money Order &amp; Cashiers Check"},"content":{"rendered":"<p>When you own a checking account, the threat of fraud and someone cleaning out your account is a real possibility. Almost all checking accounts are now tied to a banking card that can be used for debit or credit transactions. If you use a check or banking card, your account number and name is revealed. There may be times when you don&#8217;t want to risk this type of exposure. In those cases, a money order or cashiers check will keep your financial information private. Here are some tips on how to use the two and their differences:<\/p>\n<p>Differences Between A Money Order and Cashiers Check<\/p>\n<p>The main difference between the two is where you can get them. If you decide to use a money order for a transaction, you can obtain one at many different places such as gas stations, drugstores, retailers, convenience stores, post offices or check-cashing locations. When you want to obtain a cashiers check, you can only get one at a bank or credit union.<\/p><div id=\"encyc-2142970570\" class=\"encyc-content encyc-entity-placement\" role=\"region\" aria-label=\"Advertisements\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8594935838850960\"\r\n     data-ad-slot=\"1218748607\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The cost to use a cashiers check is usually double the cost of a money order. Some financial institutions will require you to have an account with them before they will issue a cashiers check. You can look online to find banks or credit unions that don&#8217;t have that policy. Expect to use your photo ID when you want to obtain either option.<\/p>\n<p>Cost &#8211; Money order\/Up to $5; Cashiers check\/Up to $10<br \/>\nRequirements &#8211; Photo ID for both; Some banks require an account to obtain a cashiers check<br \/>\nWhere Accepted &#8211; Banks, businesses and individuals<\/p>\n<p>Best Uses For A Cashiers Check vs. A Money Order<\/p>\n<p>While a money order does cost less to use than a cashiers check, that should not be the only reason why you would choose to use that option over a cashiers check. Typically, money orders are used for smaller transactions. Here are some scenarios when you would want to use a money order:<\/p>\n<p>&#8211; Make a payment through the mail that is less than $1000 to avoid sending cash or a personal check<br \/>\n&#8211; Stay within your budget and avoid withdrawing too much from your checking account<br \/>\n&#8211; Exchanging less than $1000 with an individual who is not a regular acquaintance<\/p>\n<p>A cashiers check would be your best choice if you have the following scenarios:<\/p>\n<p>&#8211; The transaction you want to make is higher than the maximum amount allowed for a money order<br \/>\n&#8211; The transaction is higher than $1000 and you want the security that a financial institution provides<\/p>\n<p>As an example, if you decide to purchase an item that you find online from an entity or a person that you don&#8217;t know, a money order will keep your financial profile private and allow you to buy your item. In contrast, if the item that you are purchasing is a dirt bike, automobile or boat and costs over $1000, a cashiers check will ensure that your funds are backed by a financial institution.<\/p>\n<p>If you do decide to use either option in a transaction, it is a good idea to make sure that the receiving party will accept the method that you want to use.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When you own a checking account, the threat of fraud and someone cleaning out your account is a real possibility. Almost all checking accounts are now tied to a banking card that can be used for debit or credit transactions. If you use a check or banking card, your account number and name is revealed. [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[25],"class_list":["post-635","post","type-post","status-publish","format-standard","hentry","category-business","tag-1803-115"],"_links":{"self":[{"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/posts\/635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/comments?post=635"}],"version-history":[{"count":1,"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/posts\/635\/revisions"}],"predecessor-version":[{"id":636,"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/posts\/635\/revisions\/636"}],"wp:attachment":[{"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/media?parent=635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/categories?post=635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.encyclopedia.com\/articles\/wp-json\/wp\/v2\/tags?post=635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}