Money Orders: What They Are, How They Work, Alternatives

The College Investor Audio Show · Apr 21, 2020 · 5m

Money orders are a form of payment that is as good as cash. They guarantee that the person (or business) being paid will definitely get their money. Unlike a personal check, it won’t bounce.

Money orders are widely available at post offices, convenience stores, some supermarkets, banks, credit unions, and most Walmart Money Centers.

If you don’t have a checking account, a money order can be an inexpensive (but not free) way to keep your bills paid. You’ll want to compare them with other alternative payment methods like prepaid debit cards.