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F ederal reserve bank DALLAS, TEX A S of Dallas 75222 Circular No. 73-57 March 15, 1973 To the Chief Executive Officers of All Banks in the Eleventh Federal Reserve District: NEW POSTAL MONEY ORDER Commencing in the second quarter of 1973? the United States Postal Service will begin issuing a new style Postal Money Order. The new form will be printed on paper, rather than card stock as at present, and include a new line of information at the top of the document for purposes of processing on optical character recognition equipment by the Postal Service. In addition, the new form will bear a routing symbol transit number 15-20 in the upper right corner and 0000-0020 in magnetic 000 ink in the bottom band. The color and insignia of the new money order will vary from that presently used as well. The present conversion schedule calls for the Post Offices in the New York region to begin initial sales on or about April 28, and then proceeding as rapidly as possible, other Post Offices elsewhere in the Nation will begin issuing the new Postal Money Order. It is ex pected that all Post Offices will cease issuance of the card form by October 31? 1973. The purpose of this letter is to alert all banks to the immi nent appearance of the new form of cash item in financial transactions. In addition to this communication, the Postal Service will conduct a general publicity program to announce the new form. Banks which are eligible to deposit cash items with this Reserve office will continue to receive Immediate credit for deposits of the new money orders. In the event that the volume of such items deposited exceeds one hundred items on a daily basis, it would be ap preciated if the two styles of money orders are deposited in separate packages. Upon completion of the conversion, this segregation will no longer be necessary and this office will then accept items in ac cordance with its usual sort requirements. Inquiries regarding this matter may be directed to any of the Officers having responsibility for this function at the Head Office or Branches. Yours very truly, P. E. Coldwell President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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