British postal orders and money orders arc both issued and paid
in many countries abroad. Payment is made in the currency of
the country of payment at the current rate of exchange. Postal
orders are used for small sums (up to £10 in the United Kingdom). Money orders (other than telegraph money orders) are no longer issued for payment in the United Kingdom, but
are issued for amounts up to £50 for payment abroad.The method of payment by money order is used by senders
who have no bank or giro (postal cheque) account. Upon payment of the charge for a telegram, money orders may be telegraphed. A person sending a money order should ask the payee for a receipt since otherwise he has no evidence of payment.
Giro is a term commonly applied to the postal cheque system run by the post offices in most Western European countries and Japan. In most of these countries bank cheque facilities have not been developed to nearly the same extent as in the United Kingdom and, apart from cash transactions, the Giro transfer or postal cheque is the chief means of payment. Anyone can make a deposit or receive a payment, whether or not he has a Giro account.
Payment by postal cheque (Giro transfer)
EXAMPLE of Buyer and seller both have accounts
In part payment of the anunt due on your invoice No 261, dated 18th May 19.., I have today transferred to your Giro account (OR postal cheque account) the sum of £50 and
debited your account in my books accordingly.
EXAMPLE of (Seller only has an account)
In full settlement of your invoice No 852, dated 8th July, I have today paid to the head post office, York, the sum
of £15.63 to the credit of your Giro (OR postal cheque) account.
Please credit my account accordingly.