MONEY ORDERS

Te Awamutu Courier, Volume 77, Issue 6974, 6 October 1948, Page 6

MONEY ORDERS

EXCHANGE ADJUSTMENT Post Office money orders issued in the United Kingdom and Australia before August 20, the date on which the exchange adjustment was made, are now being paid out under the old exchange rate. Persons who have already been paid out on a sterling par basis will be paid the balance due for exchange. Persons who, from the United Kingdom and Australia arranged the transfer of saving bank accounts to New Zealand before A,ugust 20 will also receive the 25 per cent, exchange premium. This was announced by the PostmasterGeneral, Mr Hackett. Persons remitting by money order to the United States, Canada, Eire, South Africa, Ceylon, India, Pakistan and the United Kingdom will now find the commission anti bank exchange 6d for each £l. This was formerly 5s 3d for each £1 sterling. Money-orders to dollar countries are now converted a't the rate of four dollars to the pound. Charges for money orders payable in Australia and Fiji remain unaltered at the rate of 6d for £2 and Is for £5, said Mr Hackett. With present currency, a money order payable at £1 in Australia costs at the post office 16s plus 6d commission.