Money orders offer a safe alternative form of payment to a regular check. Think of it this way: Getting a money order is a little like using a check that has already cleared the bank. For example, if somebody gives you a money order worth $100, it's as good as cash once you deposit it at your bank or take it to a financial institution to exchange it for money.
Chances are, you don't use money orders all that often to pay for services or products; instead, you likely use cash, a credit card or personal check as your primary method of payment. But every once in a while, a scenario will come up in which you may need to use a money order, such as needing to send money internationally or deliver a payment without worrying about putting yourself in jeopardy of fraudulent activity.
If you're looking to brush up on what money orders are – and when it makes sense to use them as a payment method – read on.