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Wolffs Telegraphisches Bureau (1849–1934) was founded by the German Bernhard Wolff (1811–1879), the editor of the Vossische Zeitung and founder of the National Zeitung (1848–1938). It was one of the first press agencies in Europe and one of the three major European telegraph news monopolies until the World War II -era, along with the ...
- How Money Orders Work in Canada
- Where to Get A Money Order in Canada
- How to Send A Money Order
- Pros and Cons of Money Orders
Paying with a money order
To use a money order as payment, you’ll first need to purchase it. That means you’ll need access to funds that will cover the full amount of the money order, plus any service fees. Note that Canada Post and some financial institutions have a limit of less than $1,000 per money order. You’ll need to provide your name and possibly some official government ID, as well as the name of the person who will receive the money order (the payee). None of your financial information is displayed on the do...
Accepting a money order as payment
When you receive a money order, you need to go to a post office or bank to cash it. You will be required to show ID to prove that you’re the intended recipient. It’s important to note that while money orders are generally secure forms of payment, they can be counterfeited. If you sell something online or in person and accept money orders as a form of payment, you may want to ensure the money order can be cashed before finalizing the sale.
Many people get money orders from the financial institution where they bank. Due to the popularity of Interac e-transfer payments, money orders are less commonly offered by banks and credit unions, though some still provide them. Canada Post also offers money orders and is a good option for people without a bank account. Be aware that some money or...
To send a money order, you will generally have to go in person to a bank or post office outlet. You should bring a government-issued ID (though you may not be asked for it). At Canada Post, you’ll be asked for ID if you’re purchasing multiple money orders that exceed a total of $3,000). You will also need the name of the person you’re sending the m...
Pros
1. Doesn’t require a bank account. 2. Safe to send through the mail. 3. Doesn’t require you to share your bank account numbers. 4. Refundable if it has not been cashed.
Cons
1. May be limited to a maximum of $1,000 per money order. 2. Can be counterfeited. 3. May only be available in a limited number of currencies. 4. You may pay around $10 in fees to purchase a money order.
When a money order makes sense
A money order is a good option for people who don’t have access to a chequing accountor traditional banking services. It is also a safe alternative to cash when sending payments through the mail.
- CAN-legal@nerdwallet.com
Feb 28, 2024 · A money order is a secure alternative to cash or a personal check, which you can use to send money or pay bills. It works much like a check, and is usually issued by a government or...
Jul 5, 2023 · Learn about money orders and how they work in Canada, including how to get and fill out a money order and how to cash them.
Jun 14, 2021 · A Postal Money Order is a certified, cashable document guaranteed by Canada Post. It’s a safe way to send money to make bill payments or purchases.
May 14, 2024 · Money orders allow you to send money without sharing sensitive information, and you don’t need a bank account. Learn more about money orders, how they work, and their pros and cons.
People also ask
What is a money order & how does it work?
What is a postal money order?
What is Wolffs Telegraphisches Bureau?
How do I pay with a money order?
To buy a money order, you must pay the amount (face value) on the money order plus a fee for the service. The maximum amount per money order is CAN$999.99. The fee per money order is CAN$8.50. We’ll apply a separate fee to each additional money order you buy.
