Rates Current as of Friday February 10, 2012

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I am buying an expensive item from someone several hundred miles away and need to send them a substantial amount of money. Do I use a money order or a certified check or a cashier’s check?

That depends upon how much you are paying. Most people and businesses prefer a money order or a cashier’s check, because you buy those from the bank, and the person is paid with the bank’s money, not yours. A certified check is as liquid as a cashiers check, meaning the check should be received as cash, but the certified checks minor difference is that the bank certifies the account holder has the funs in the account and then sets that amount aside until the check clears. However, a money order can only be written up to a value of $1000. For a purchase of more than $1000, use a cashier’s check.

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