Toshkent m oliyainstituti

Task 2. Read and retell the text.
When neither cash nor personal checks are suitable for making money 
payments, people have to find other ways. Usually they turn to money orders, 
traveler's checks, certified checks, cashier's checks, or bank drafts. These methods 
have advantages over personal cheeks. One of these advantages is the time needed 
to pay the amount. With a checking account, the amount to be paid is not deducted 
from the account until the check is actually received by the bank on which it is 
drawn. As you have discovered, clearing a check may take several days. With other 
kinds of payment, the money is paid or deducted from an account almost 
immediately. A second advantage is that these other kinds of payments are made or 
backed by a well-recognized financial institution. A money order is a form of 
payment, like a check, that can be purchased. It orders the payment of money to a 
party from the funds of the organization that issues the money order. Money orders 
can be bought for the amount of the order, plus a service fee. Generally money orders 
are used to transfer relatively small amounts of money. They are very safe to use, 
since they are payable only to the party named on the order. If they are lost, they can 
easily be replaced. And they can be purchased in a number of places. When a person 
buys a money order, the institution that issues it writes or imprints the amount on 
the order. The purchaser generally has to write in the date, the party to whom the 
order is payable, his or her own name and address, and the purpose of the payment. 
The purchaser is given a receipt for the money order.
The party to whom the money order is payable can cash the money order by 
endorsing it, just as for a check. When a money order is cashed, the amount is paid 
by the organization that issued it. That organization gets the money order back after 
it has been paid.