![]() Slower payment: Unlike cash or a payment from your debit or credit card, a money order can take a few days to get to the recipient if you mail it.While money orders are more secure than some other options for money transfers, they also have disadvantages: Can easily be tracked: Your money order receipt has a tracking number you can use to check whether the order has been cashed.However, the issuer might eventually charge a service fee. Doesn’t expire: A money order generally doesn’t have an expiration date, so if the recipient forgets to cash it for a while, you won’t need to send a replacement.And your recipient doesn’t need a bank account to cash the money order. Doesn’t require a bank account: Because you can pay for a money order with cash, you don’t need to belong to a bank or credit union to send one. ![]()
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