Money Order is a mode of payment that requires the payer to pay a specified amount of money before-hand. This is considered as a safe method of payment as the amount printed is already prepaid. Cashier’s check...

Money market is a component of financial market where short-term borrowing can be issued. This market includes assets that deal with short-term borrowing, lending, buying and selling. A capital market is a...

Both debit and credit cards are small rectangular plastic cards issued by a financial institution, such as a bank or credit union. The main purpose of a debit card is to allow the account holder to access the...

Visa and MasterCard are card processing companies. They are essentially the middle-men between the card holders and the retailers. The main difference between Visa and MasterCard is in the list of merchants...

Banks are privately owned institutions which provide banking services to its customers. Credit unions are non-profit institutions that are owned and run by its members.