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  • Postal order

    serch.it?q=Postal-order

    One of the most famous postal orders in history – the one alleged to have been cashed by George Archer-Shee A postal order is a financial instrument usually intended for sending money through the mail. It is purchased at a post office and is payable at another post office to the named recipient. A small fee for the service, known as poundage, is paid by the purchaser. In the United States, this is known as a postal money order. Postal orders are not legal tender, but a type of promissory note, similar to a cheque.

  • Postal orders of South Africa

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    Postal orders were issued in South Africa from 31 May 1910. South Africa issued both its own postal orders and British postal orders.

  • Money order

    serch.it?q=Money-order

    Postal money order, Duchy of Brunswick, 1867. A specimen money order of Italy c. 1879. A money order is a payment order for a pre-specified amount of money. As it is required that the funds be prepaid for the amount shown on it, it is a more trusted method of payment than a check. The money order system was established by a private firm in Great Britain in 1792, and was expensive and not very successful. Around 1836 it was sold to another private firm which lowered the fees, significantly increasing the popularity and usage of the system. The Post Office noted the success and profitability, and it took over the system in 1838. Fees were further reduced and usage increased further, making the money order system reasonably profitable. The only draw-back was the need to send an advance to the paying Post Office before payment could be tendered to the recipient of the order. This drawback was likely the primary incentive for establishment of the Postal Order System on 1 January 1881.

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