Editing Money order (section)

==History==
Systems similar to modern money orders can be traced back centuries. Paper documents known as "[[flying cash]]" were used in China from the 800s, while the [[Hawala]] practice of informal financial remittances through a widespread system of brokers can be traced to India in the 1300s and remains common in parts of Asia and Africa.

The modern western money order system was established by a private firm in Great Britain in 1762, though due to high costs was 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 (United Kingdom)|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.<ref>{{cite web|url=http://www.victorianweb.org/history/letters/bootle.html|title=Post Office Money Order: A. Scott of Bootle to Peter Hodgson Esq, Whitehaven, 1841|website=www.victorianweb.org}}</ref>