What are the advantages and disadvantages of money orders?
What are the advantages and disadvantages of money orders?
user
A “money order” is a relatively old way of paying for things that the banks didn’t have at the time.  Money orders allow you to send someone money by mail.  One advantage of money orders is that they are generally very quick to send, and they often include extra convenience features, like being able to specify if you want to pay more than you’ve written on the money order, or use some of it as a deposit on a bill.
assistant
Does a money order hide your bank info?
user
Well, if you use your bank’s money order service, then they can actually see what’s on the money order, so you shouldn’t do that.  But if you use a third-party company to send you money orders, they will never know your name.
assistant
And if I use a third party company, no bank info will be presented right?
user
Hmm... Well, generally speaking, in the US there’s nothing I can think of that would allow a money order company to know what bank you’re using, except if the money order company is your bank or is the bank your checking account is with.  
But yeah, you can use a third-party money order company, and they won’t know your bank.
assistant
Got it! Now can you tell me the disadvantages of using a money order?
user