If you are looking for a safe, inexpensive and effective method of paying for products or services abroad without the use of cash, then international money orders may be just what you need. They can be bought from U.S. post offices, major banks or in Western Union or Moneygram offices for a very reasonable fee. Due to their widespread use, this mode of payment makes a very good investment when traveling or sending money abroad. At present, a money order purchased at a U.S. post office has a limit of $700. If you wish to purchase these for a higher amount, you will need to go through one of the alternative sellers.
The benefits of using this form of currency abroad are many and varied. First, in the event of loss or theft, they can not be cashed by someone else without proper identification. This protects your assets. At the same time, you can report your loss and have your check replaced, enabling you to recuperate your losses. Many people prefer to carry these checks when they travel as they are safer than cash and just as convenient to use. This form of payment is readily accepted in over 30 countries around the world for both products and services alike. You will also have much less trouble getting them cashed in foreign banks than you would if you attempted to make a bank transfer. Once you have converted your check into local currency, you can then spend these funds any way you desire.
Depending on the country where you travel, these checks can often be used in similar ways as cash. Many foreign companies, shops and businesses accept them as payment for their products or services. If you prefer, you can convert them into local currency first and then spend the cash as you please. If you are considering sending a money gift to family or friends living abroad, an international money order makes a very safe and effective alternative to cash. If your letter is lost or stolen in the foreign mail system, you can reclaim your losses and try to send them again.
Before you purchase money orders for international travels, you should ensure the countries you are going to visit will accept this form of currency. Some countries accept them only up to a certain money limit while other countries will not accept them at all. Many European countries require you to convert them into euros before you can purchase services or goods. To find out more about regulations concerning their use, you can inquire at your place of purchase.
Another aspect to consider when buying a global money order is the time limit for its use. This can be up to one year from the date of purchase, after which your product will be invalid. If you find yourself holding an invalid money order, you can have it reissued by paying a small service fee. Other than these restrictions, these checks offer a safe and feasible alternative to using cash and credit cards during your international travels.