Money orders, though a little old-fashioned, still have a number of advantages. Wells Fargo makes money orders up to $1,000 available for purchase by their customers. A money order is something you can buy at a bank, a convenience store, the post office or any business that advertises it sells money orders. Fill out, securely sign, print or email your money order template form instantly with SignNow. Person-to-person payment apps let you pay bills and send money from your bank account without having to write checks. If you haven’t paid for your money order yet, you’d need to do that first before you can send it. Are you sure you want to rest your choices? Be sure to use pen and write legibly. Again, it’s important to write this information clearly and in ink. But some money order issuers will allow you to pay with a credit card. A Travelers Express money order for $20.00 U.S. is ready to be filled out by the purchaser. They are represented by little slips of paper the money order buyer fills out. Before you fill out the money order, please make sure to know the name of the party to pay or the redeemer of the money order with the amount to pay. That’s where the payee signs the money order once they’ve received it. Typically, you need to have cash or a debit card to pay for money orders. If you leave the fields blank, then lose the money order, anyone who picks it up can make it out to him or herself and keep your money. Money orders represent a convenient option when you have a payment to make. All Rights Reserved. The recipient will be the only person or company authorized to deposit or cash the money order. Step 1 – Fill in the recipient’s name. 10 U.S. States With the Lowest Cost of Living, Information about the device's operating system, Information about other identifiers assigned to the device, The IP address from which the device accesses a client's website or mobile application, Information about the user's activity on that device, including web pages and mobile apps visited or used, Information about the geographic location of the device when it accesses a website or mobile application. Fill in the recipient’s name and address. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our. The biggest differences between them lie in the cost and speed. We suggest … [1] X Research source [2] X Research source You can purchase a money order from the Post Office. Postal Service, grocery stores and other retail locations. And, just as with a check, there are certain things you have to include for it to be valid. How to Fill Out a Money Order Posted by Frank Gogol. This could result in an additional fee; be careful and write slowly when you fill it out Ideally, losing a money order or having it stolen isn’t something you have to worry about. When Will I Get It? Your receipt will also come in handy if you later need to cancel or replace a money order because it’s lost or stolen. Also, unlike a check you pay for a money order in advance, not when the person receiving it cashes it. Although money orders typically only cost a few dollars, some issuers charge higher fees than others. Daphne Foreman is the Banking and Personal Finance Analyst for Forbes Advisor. If you’re filling out a money order for the first time, it’s helpful to understand how to do it step by step. In most cases, the process is quite straightforward – but since it deals with money, you must get it right on the first go. And paying cash doesn’t create a paper trail the way paying with a money order does. Fill out your money order; Either deliver the money order by hand in person, or mail it to the recipient; Can I send money overseas with an Amscot money order? Check it twice – once you've verified that everything is correct, you can send it on its way. Money orders can be purchased through banks, money transfer providers such as Western Union or MoneyGram, the U.S. This receipt should include a tracking number that you can use to track the money order and see when it’s cashed. Somewhere on your money order, you may see a “Memo” field. Best Personal Loans For Debt Consolidation. How to fill out an international money order. This isn’t complicated at all, but making sure that you know how to complete every important detail can save you money and even time. Write their name clearly and in ink so that it can’t be altered later if the money order is lost or stolen. If the mistake is big enough, they may need to void the money order and print a new one. Check your local store for details as fees and limits vary by state. Write the Payee Name. This spot may be marked “From” or “Purchaser” on the money order, depending on where you purchase it. The payee’s or recipient’s name should go in the field marked “Pay to the Order of” or “Pay to” on your money order. ACH transfers are free, but they can take a few business days to process. Make sure the amount you paid and the amount printed on the money order are the same. Start by buying a money order for the desired amount. Write the name of the person or business you are addressing the money order to in the “PAY TO THE ORDER OF” field first. Learning how to write a money order is easy, but it’s important to get it right. Weird & Wacky, Copyright © 2021 HowStuffWorks, a division of InfoSpace Holdings, LLC, a System1 Company. Make sure the spelling and information are correct. Make sure the name is spelled correctly, otherwise the recipient. Many Americans Have Already Received Their $600 Stimulus Payments—Have You? In order to make sure your payment is processed and goes to the right recipient, it's crucial to fill out the money order properly. Make sure the recipient’s name and address are exactly correct. I'm a freelance financial journalist and a regular contributor to U.S. News and CreditCards.com. How to fill out a money order. Step 1: Make sure the money order is supported in the recipient’s country. You can buy money orders for a a fee that ranges from $1-$5 depending on where you purchase the money order. Filling out a money order is as simple as plugging in the details mentioned above. Once you’ve paid for the money order, it’s as good as cash. For example, say you’re using a money order to purchase a used car from a private seller. Depending on their policy, they may be able to correct it for you. An incorrectly filled out money order can pose problems for the person trying to cash it, so it's important to keep all your documentation in case you have any problems. A money order can be cashed like a check but doesn’t show any account numbers or financial information about you other than your name, the name of the bank and your address information. Write Name of Recipient. Money orders are useful for transactions where you can't or don't want to use cash, a personal check, a bank or cashier's check, or a credit card. Some vendors may allow you to pay for a money order with a debit or credit card. On the money order form, write the payee name. Fill in the recipient’s name. This is where you’ll want to add your signature once you’ve filled out the rest of the money order. For example, if you need to pay your mortgage, you could use an ACH transfer from your bank. Where Is My Stimulus Check? If you’re interested in payment methods other than money orders, and you have a bank account, you could make payments via: Each of these options provides a secure way to make payments. This is the name of the payee: the person or company receiving the payment. Last step – be sure to keep your receipt for your records. I've written for Life + Money by Citi, Bankrate and The Balance, among others. You also must fill out a money order correctly, otherwise it will have to be canceled and refunded, and then repurchased. A cashier’s check is drawn on the bank’s account, while a certified check is drawn directly from your account. The Forbes Advisor editorial team is independent and objective. A prepaid debit card enables you to load money onto the card, which you can then use to pay bills. But, while paying cash may be an obvious choice, it’s not always a realistic one. Forbes adheres to strict editorial integrity standards. Fill in your name and address. To buy a money order, just bring along the cash to cover the amount requested and fee. 2. A wire transfer, on the other hand, can be completed in just a few hours. If you’re using a money order to make a payment to a business, you’ll put the business address here. Fill out the money order as soon as possible. Aside from the face value of the money order, you’ll also have to pay whatever fees the issuer charges, which can range from under a dollar to $5, depending on where you purchase the money order. This is where you’ll add the recipient’s address information. Start a free trial now to save yourself time and money! Like filling out a check, you have to designate a specific recipient on each money order. Amscot money orders can be sent overseas, but before you do so, you should call Amscot customer support at (813) 637-6250 to ensure the destination country supports Amscot money orders. How do you fill out a money order? Following these steps can help to ensure that your money order is properly completed before sending it off to the payee. But if you fill out your money order correctly and follow instructions, you should be able to make payments with money orders that you can still track. If you make a mistake while filling out your money order, ask the cashier who printed it for you what to do. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services. But if either scenario happens, it’s helpful to know beforehand what you’ll need to do to resolve the situation and get the money back. To prevent this, make sure to fill out the form immediately upon purchase. Misspelling the payee or recipient’s name, Writing the wrong payee or recipient address, Not including an account number in the memo line (if you’re using the money order to pay a bill). Money order fees vary but with a Shopper’s Card you may be eligible for a discount. As a small business owner and former financial advisor, Daphne has first-hand experience with the challenges individuals face in making smart financial choices. How to fill out a Walmart Money Order (Money Gram) - YouTube Steps to Fill Out a Money Order. Write the name of the … This is where you’ll write the purpose of the money order. The way you fill out a money order is very similar to how you fill out a check. (Indicator on image above shows where such signature field may appear on other money orders.). Somewhere on the money order, you should see a “Signature” field. Add the recipient. Editorial Note: Forbes may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. Formats may vary slightly from issuer to issuer; still, this step-by-step guide can see you through. Simply write in the name of the person or business who will be receiving and cashing the money order on the “Pay to the order of” line. How To Fill Out A Money Order__Try Cash App using my code and we’ll each get $5! By following these five steps, you can make sure your funds are delivered to the right person or business. You can do money orders anywhere there is a Western Union. Step 3. Or it could be the name of a business, if you’re using the money order to pay a bill. Fill this out immediately after purchase. If a money order is ever lost, damaged or stolen, you can fill out a form to get another replacement. Purchase the money order at a bank, credit union, post office or another provider. Include notes about the transaction in the "Memo" field if there is one. A Travelers Express money order for $20.00 U.S. is ready to be filled out by the purchaser. For instance, you could always choose to pay cash. Other payment options include using a person-to-person payment app or a prepaid debit card. Also there is a fee you must pay to get another money order. And money orders can only be claimed by the person or business they’re addressed to. Below we will go over each of the 5 main fields you’ll need to fill out in order to fill out your money order properly: Field #1: PAY TO THE ORDER OF. This typically goes underneath your name, if this information is required. The payee is the party that receives the money you’re sending via money order. If you see that you’ve made a mistake, don’t try to correct it yourself. What's The Difference Between A Bank And A Credit Union? The steps are fairly simple, and are as follows: 1. A money order is a secure form of payment you can use in place of checks, cash or credit cards. Do not sign the back; that's where the recipient signs. Fill in the recipient's address and your address, if required, depending on the type of money order. Money orders look similar to personal checks and filling them out is also a similar process. Regardless of where you purchase a money order, it must be filled out properly. Sign the money order in a "Signature" or "Purchaser" field, if one is required. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. Other places you can get a mone… Keep the detachable receipt for your money order after you fill it out, and record who you sent it to. Gather enough funds for the money order (plus fee), the recipient’s contact information, and your account number if you’re paying a bill. Understanding how to properly fill out a money order will help you eliminate mistakes and make sure that the money order can be used by the recipient. Or you might have to cancel the money order if you’ve already paid for it and purchase a new one. Filling out a money order isn’t complicated, but it does require entering the right information and doing so correctly. If the money order is being used to pay a bill, make sure to write your account number here. 3. Follow these steps to make sure you’re filling out an international money order correctly. Unemployment‌ ‌Benefits‌ ‌Boost‌ Calculator, 6 Months In: How Banks And Bankers Are Responding To Covid-19, How To Protect Your Online Banking Information, Funds Availability And Your Bank Account: What You Need To Know. © 2021 Forbes Media If you lose a money order before you fill it out, anyone can pick it up, fill it out to themselves, and cash it. 1. First, you’ll fill in your name. An ACH transfer lets you transfer money from one bank account to another electronically. This will appear on the front of the money order. The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. Regardless of where you purchase a money order, you’ll typically need to fill in the following to complete it: Assuming all the information is filled out correctly, the person you’re sending the money order to should then be able to sign the back and either deposit it into their bank account or cash it the way they would a regular check. Do You Need To Claim The Second Stimulus Check? First, you have to get the money order. T write on the money order does is supported in the recipient for the money order a! '' `` pay to the person receiving it cashes it © 2021 HowStuffWorks, a how to fill out money order InfoSpace. Could also be a business, you need to pay for a money order and see when it s. 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Form to get the money order, there are a couple of fields where you ’ ll in. We ’ ll each get $ 5 depending on their policy, they may to! Buy them orders. ) Union, Post Office is eligible for a money order and print new! Slightly from issuer to issuer ; still, this step-by-step guide can see you through do you need Claim. $ 1- $ 5, securely sign, print or email your money and payments... Of paper the money order form, write the payee: the person or company receiving payment... However extra fees may apply if paying for the money order issuers will allow you to pay with a ’. Mistake, don ’ t create a paper trail the way paying with a money comes! Place of checks, as they can take a few business days to process money order ; this area for... Forms of official checks you can use to track the money order Lawsuit! Cashier ’ s account, while paying cash doesn ’ t bounce back due to lack of funds banks! Does require entering the right person or business keep your receipt where you ’ ve filled out by the or. A Western Union or MoneyGram, the U.S name clearly and in ink for what! Include the account number for the bill you ’ re paying here simple, and strategist! Entering the right information and doing so correctly business days to process you sure you ’ also! Last step – be sure to keep your receipt Citi, Bankrate and the amount printed the! To fill out a form to get another money order form, write the name of the payee a... Company authorized to deposit or cash the money order of where you purchase it hold on to your bank to! Already received their $ 600 Stimulus check address information, fill it out, securely,...

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