MO meaning in Banking ?

Answer:

What is Money Order mean?

A money order is a payment order for a pre-specified amount of money. As it is required that the funds be prepaid for the amount shown on it, it is a more trusted method of payment than a cheque.

The money order system was established by a private firm in Great Britain in 1792 and was expensive and not very successful. Around 1836 it was sold to another private firm which lowered the fees, significantly increasing the popularity and usage of the system. The Post Office noted the success and profitability, and it took over the system in 1838. Fees were further reduced and usage increased further, making the money order system reasonably profitable. The only draw-back was the need to send an advance to the paying post office before payment could be tendered to the recipient of the order. This drawback was likely the primary incentive for establishment of the Postal Order System on 1 January 1881.

reference

Full Form	Category
Monotonic Convention	Academic & Science
Meteorological Office	Academic & Science
Maximum Overdrive	Academic & Science
Math Oltmpiads	Academic & Science
Money Order	Banking
Altria Group, Inc.	Business
Middle Office	Business
Altria Group (formerly Philip Morris Cos.)	Business
Management Office	Business
Main Organizer	Business
Metal Oxide	Chemistry
Molybdenum	Chemistry
Molecular Orbital	Chemistry
Modifier Oxide	Chemistry
Micheal Obaras	Chemistry
Molecular Oriented	Chemistry
Microbe Obliterator	Community
May Overby Elementary School	Community
Moving On	Community
Magic Orlando	Community
Mobile Originated	Computer and Networking
Manually Operated	Computer Hardware
Macau (TLD)	Computing
Machine Object	Computing
Mobile Originating	Computing
Main Objective	Computing
Mode	Computing
Magneto-Optic	Computing
Master of Obstetrics	Educational Degree
Master of Osteopathy	Educational Degree
Magneto-optical	Electronics
Metal-organic	Electronics
Modula-3 Object File	File Type
Mustard Oil	General
My Opinion	General
Meter Outlet	General
Masonry Opening	General
Mercedes Only	General
Mixed Object	General
Mod Organizer	General
Mineral Oil	General
Mission Oriented	General
Montana Or	General
Mountain Oyster	General
MOntag	General
Majority Opinion	Governmental
Modus Operandi	Governmental
Mobile Field Office	Governmental
MOHOL	Indian Railway Station
Movimiento Obrera	International
Modena (Provence)	International
Milattan Once	International
Maintenance Operator	Jobs
Marketing Officer	Jobs
Mathematical Operation	Maths
Month	Measurement Unit
Medulla Oblongata	Medical
Membrane Oxygenator	Medical
Mesial Occlusal	Medical
Methyl Orange	Medical
Micro-Organism	Medical
Mitral Opening	Medical
Mono-Oxygenase	Medical
MOnoclonal	Medical
MOnocyte	Medical
Morbid Obesity	Medical
Morbidly Obese	Medical
morphine	Medical
Multiple Osteochondromas	Medical
Myositis Ossificans	Medical
Mouth Opening	Medical
Medical Officers	Medical
Medical Office	Medical
Mandibular Organ	Medical
Managed Objects	Military and Defence
Method of Operation	Military and Defence
Maintenance Operations	Military and Defence
Medical Officer	Military and Defence
Multi Objective	Military and Defence
Mobility Order	Military and Defence
Moldovan	Regional
Missouri	Regional
Moldavian	Regional
Momentum On	Space Science
Major Objective	Space Science
Manned Orbiter	Space Science
Manual Orientation	Space Science
Manufacturing Order	Space Science
Mars Observer	Space Science
Master Oscillator	Space Science
Mid-deck Overhead	Space Science
Mission Operations	Space Science
Move	Space Science
Managed Object	Telecommunication
Calm Air	Transport & Travel