BANKING AFFAIRS

Detailed explanation-1: -A money order is an order issued by the Post Office for the payment of a sum of money to the person whose name the money order is sent through the agency of the Post Office. A ‘Payee’ is the person named in money order as the person to whom the money is to be paid .

Detailed explanation-2: -3. How much money can be sent through Instant Money Order? A minimum of 1, 000.00 INR and a maximum of 50, 000.00 INR can be sent through Instant Money Order.

Detailed explanation-3: -A money order is a paper document, similar to a check, used as a form of payment. Typically, it’s purchased by prepaying the amount printed on the face of the money order with cash or another form of guaranteed funds.

Detailed explanation-4: -About Postal Orders Postal Orders can be used to pay for goods and services, redeemed as cash, paid into a bank account or given as a gift.