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International money orderAn international money order works in the same principle of an ordinary money order. The only difference is the international money order is used to make payments abroad. International money order is used to purchase goods or services abroad. It is used to pay a seller for purchasing goods and services from another country. International money order can be bought in the buyer's bank for the currency accepted by the seller. It is the safest source of currency transfer than the post. This is because an international money order requires various forms of identification. Often signature, photo identification etc are required to cash an international money order. But while sending money order, the sender should ensure that it is accepted in the country where he is sending. In some countries, the money orders should be in pink paper with words written as "postal money order". This is especially true with the Japan post which is one of the largest banking institutions in the world.More Glossary Terms Explained here |
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