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: -The nature of service remains the same and it is also being called an electronic Money Order or eMO. Department of Posts also has another service offering instant online Money transfer service called as Instant Money Order (iMO), where the receiver can receive payment in cash through Post Office, it said.

Detailed explanation-3: -Sending money by Post Office You can choose either a cash pick up or delivery to a bank account. Make sure you’re aware of the fees, as they are different depending on which method you choose!

Detailed explanation-4: -Money Order This is a domestic money transfer facility through post office. Money send through money order is paid at the door-step of the payee and this service is available in all post offices . Maximum amount which can be remitted through a single money order is Rs. 5000/-.