International Money Order vs. Check

Foreign banks often refuse checks.

An international money order is a secure method of sending money via the mail service to other countries. A check is drawn on a personal or business bank account but is a less satisfactory method of transferring money, or paying for goods, overseas.

International Money Orders

These are essentially a prepaid check that you pay cash for. You do not need a bank account to purchase a money order, and they are available from U.S. post offices and other outlets. The disadvantages of international money orders are that there is a value limit on them and only certain countries now accept them. A list of countries accepting them is available at U.S. post offices.

Checks

Personal checks are not an ideal method of sending money internationally. Overseas banks can take up to six weeks to clear a check, and many of them will not cash them at all. Also, the recipient will have to pay a substantial processing charge. If a foreign bank does accept an overseas check, by the time it has cleared, the funds may no longer be available resulting in a bounced check.

Considerations

An international money order is a useful way of sending money overseas if you, or the recipient, does not have a bank account. It is more cost-effective than using the many commercial money transfer services, an international bank transfer or sending a personal check. However, neither international money orders or personal checks are an ideal way to send emergency funds as they take at least five days to arrive at their destination.

References

• U.S. Postal Service: International Money Orders
• Foreign Born: International Money Transfer