Is the postal order the end of the story?

A postal order is a way of sending cash to a person in France or anywhere else in the world. It's a solution that can be very practical in some cases, but has been neglected in recent years. That's why some postal money orders have been discontinued by La Poste. Here's an update on postal money orders and money transfers.

What is a postal order?

In 1995, La Poste launched its first money transfer service, the postal money order. By definition, a postal money order is a cash transfer made through La Poste. However, it can also be carried out via a bank or brokerage firm. Originally, this type of transaction was set up to meet the needs of certain users, notably those who: + did not have a bank account + had no means of payment (bank transfer, bank card, cheque) other than cash + were unable to produce proof of address

The mandate therefore enabled them to quickly withdraw the money sent to them. Up to €1,500 could be transferred per transaction.

Fast and simple, the postal money order came in 2 versions: + the ordinary cash money order, which allowed the money to be received within 24 hours + the urgent cash money order, thanks to which the beneficiary could go and withdraw the money almost immediately On August 28, 2017, La Poste said goodbye to the urgent cash money order. Then, on January 1, 2018, the ordinary cash mandate was also discontinued.

Why is the postal order disappearing?

Over the last 5 years, the use of the cash mandate has fallen by 25%. This is due to the fact that today, 99% of households have at least one current account or banking solution. Thanks to new technologies, in particular online banks and neobanks offering prepaid cards, teenagers and people with no bank account can also have a payment solution and a RIB to which they can transfer money.

Then, again thanks to the advent of new technologies, credit transfers are more popular than ever. It's a simple and inexpensive solution. Today, almost everyone has a secure online space where transfers can be made in just a few clicks. An even more practical solution is the mobile application, which lets you manage your accounts from your smartphone. This means you can carry out a transaction at any time, wherever you are. Where traditional banks still offer transfer times, neobanks often offer almost immediate transfers. That's why you can say goodbye to the postal money order, which required you to visit a branch during opening hours. What's more, these new solutions are much safer.

Some postal orders still exist

Although the 2 national postal orders have been abolished, other postal orders still exist. These are international money orders, used to transfer money from one country to another.

The ordinary international mandate

The ordinary international money order can be used to transfer up to €3,500 in cash to 52 countries and territories, via 600,000 points of sale.

The cost of this solution is relatively low, but the delivery time corresponds to that of a courier. It takes 4 to 5 days to receive money in Europe, and 8 to 10 days in Africa.

To send an ordinary international money order, the sender simply goes to a post office with his or her identification. The sender then gives the teller the amount to be transferred in cash or by credit card. Then, when the sum is available, the beneficiary receives a cheque or notice at the address indicated by the sender. All that's left to do is to go to one of the points of sale of the postal network in their country to withdraw the money in local currency.

The international express warrant

Like the ordinary international money order, the international express money order can transfer up to €3,500. The transfer time is shorter, however, at 24 hours. However, this option is only available in 34 countries. The transfer can be made at a post office, in the same way as for an ordinary international money order, or online 24/7. This second, more practical solution enables the sender to track the execution of the postal order.

Western Union money order

With a Western Union money order, you can transfer up to €7,600 internationally in a very short time. In fact, the money transferred is available within minutes of the transaction, which is ideal for responding to an urgent situation. Western Union money orders can be made at any post office or 510,000 points of sale in over 200 countries and territories.

To make a Western Union money order, the sender must present valid identification and hand over the amount to be transferred in cash or by credit card to the teller. In return, the teller issues a receipt with a transfer number, which the sender must pass on to the recipient.

It is also possible to transfer money online, but the maximum amount is €5,000. There are 2 possibilities: a cash withdrawal or a transfer to the beneficiary's bank account. Please note that bank transfers take 3 days.

To withdraw the money, the recipient must present the transfer number and answer a secret question.

With more and more online banks and neo-banks making international transfers as easy as in France, and at little or no cost, there's every reason to believe that these forms of postal order may be on their way out. Whatever the case, Anytime offers you an intuitive application that lets you manage everything at your fingertips, anywhere in the world.

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