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#2081525 - 06/02/16 04:41 PM Redeemer of Money Order
Jennifer Offline
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Jennifer
Joined: Dec 2014
Posts: 164
Need clarification: If a business accepts a money order for payment on an account - they would be a "redeemer" of a money order. However, for MSB classification, they must redeem - accept a money order - for a payment greater than $1,000?

Correct?

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#2081541 - 06/02/16 05:20 PM Re: Redeemer of Money Order Jennifer
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,565
The Country
True, but only if the money order was made payable to someone other than the business that accepts the money order. If the money order is payable to the business then the MSB aspect does not enter the picture.
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