A money order is a payment method that allows individuals to send money securely. It is purchased for a specific amount and can be used to pay bills or send funds to someone without needing a bank account. Money orders are often available at banks, post offices, and some retail stores. Unlike personal checks, money orders are prepaid, meaning the funds are guaranteed. This reduces the risk of bouncing due to insufficient funds. They typically have a small fee for purchase and can be cashed or deposited at various financial institutions, making them a convenient option for many people.