Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
Hawkwin,

In response to my question mtr wrote this seemingly absurd response, honestly pay businesses by MO because its cheaper than buying checks at Chase or Sunwest.

To which you replied, ??? You can buy checks for about $0.05 per check, probably less. Unless you get free MOs, then checks are always cheaper - and, while I don't know about Sunwest, I do know that Chase offers free checks with some accounts if you didn't want to order third party.

But Chase and Sunwest don't charge a cent if you use their BillPay service - they'll even mail the check for you for free. No special deals are required. They will also guarantee the check's delivery, investigate you call because it didn't show and cancel and/or re-issue a lost or stolen check all for free.

There are literally no advantages I can see to using Money Orders if the recipient doesn't demand them. I can personally only think of one place that's ever demanded payment by money order. And I've encountered institutions that will not accept them for deposit because they are considered risky, so there are good reasons to not use them.

With one exception, the only people I've ever known that used them regularly had screwed up their credit and banking history so badly they couldn't open a bank account. I admit I spent a lot of time around people like that when I was much younger.

But when I hear / see statements like that I just throw up my hands these days... I just give up. Throw your money away. It's yours to squander.

- Joel
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.