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Its wise to require a money order or a cashiers check when you are selling a large item such as a car to a private seller.
How to get a money order or cashiers check. A money order or cashiers check offers security for both parties in a financial transaction. When you get a cashiers check your bank will either hold or remove the funds from your account and give you a bank issued check in the amount you request. Since it already has the payees name typed on it a cashiers check provides an extra level of protection for both the sender and the receiver. Sending money orders.
A cashiers check is issued by a bank are available in higher dollar amounts are considered more secure than money orders and the fee is more than a money order. If a money order or cashiers check is cashed fraudulently the purchaser could contact police and work through the legal system to try to recover the money. Learn how to get a cashiers check and when you need one money orders cost less. When sending money by mail use money orders as a safe alternative to cash and personal checks.
A cashiers check is a type of official check that banks issue and sign. Your money order receipt will help you track your payment and show proof of value in case the money order gets lost stolen or damaged. This requirement will protect you because the funds are guaranteed as long as the money order or cashiers check is legitimate and there are no stop payments put on the check. Postal service money orders are affordable widely accepted and never expire.
A cashiers check is similar to a money order but is issued by a bank and requires a bank account. Money orders are available in several places including the us. A cashiers check must be deposited within 90 to 120 days after its issued so make sure the recipient knows that they should deposit the check as soon as they get it. Sometimes a money order is perceived to be less secure than a cashiers check and will not be accepted as a substitute.
Credibility is another difference between money orders and cashiers checks. Postal service convenience stores drug stores grocery. The seller is protected knowing the money was paid up front for the money order or cashiers check. In addition to wondering how to get a cashiers check customers are often concerned with finding the cheapest place to get a cashiers check.
The purchaser of these instruments is able to protect her bank account and credit card information since neither of these is printed on the instrument.
