Money order - Vanderbilt University

Money order -- A money order is a payment order for a pre-specified amount of money. Because it is required that the funds be prepaid for the amount shown on it, it is a more trusted method of payment than a cheque.

In the United States, money orders are typically sold by third parties such as the United States Postal Service, grocery stores, and convenience stores. Some financial service companies such as banks and credit unions may not charge for money orders to their clients. Money orders remain a trusted financial instrument. In 2005, 889 million money orders were purchased in the United States for a gross transaction volume of $145 billion. (source: Federal Reserve). However, just because a particular business can issue a money order does not necessarily mean that they will cash them. The U.S. Postal Service issues money orders for a small charge at any location.

Cashier's check -- cashier's check (cashier's cheque, bank check, official check, demand draft, teller's check, bank draft or treasurer's check) is a check guaranteed by a bank. They are treated as guaranteed funds and are usually cleared the next day. It is the customer's right to request "next-day availability" when depositing a cashier's check in person. Most banks do not clear them instantly.

Most locations will charge a fee for the service of providing the money order or cashier's check.

Locations near Vanderbilt to purchase a money order:

CVS Pharmacy 426 21st Avenue (Wesley Place) Nashville, TN 37212 (Map)

Mapco Express 1507 21st Ave S Nashville, TN 37212 (Map)

U.S. Post Office 2006 Acklen Ave Nashville, TN 37212 (Map)

Locations with Vanderbilt to purchase a money order:

USPS Station 17 (3:00 pm cut of time for MO's) Suite B-0106 Medical Center North 1161 21st Ave. Nashville, TN 3723 (Map)

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