Daphne Foreman is the Banking and Personal Finance Analyst for Forbes Advisor. Where Is My Stimulus Check? A Travelers Express money order for $20.00 U.S. is ready to be filled out by the purchaser. Make sure the name is spelled correctly, otherwise the recipient. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. USPS money orders can be used for amounts up to $1000.00. Other places you can get a mone… 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. 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. A money order can be a safe and secure way to send money, but it’s not the only way to make payments to individuals or businesses. 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? Below the space for the payee’s name, you should see another field for the payee’s address. 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. 3. 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. And money orders can only be claimed by the person or business they’re addressed to. Write their name clearly and in ink so that it can’t be altered later if the money order is lost or stolen. But some money order issuers will allow you to pay with a credit card. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. Money orders can also be sent internationally and can be used to settle debts larger than $1,000 (by sending multiple money orders). Write the name of the person or company where you’re sending the money order to in the “Pay to the Order of:” line. Everything To Know About Cashier’s Checks, Best Investment Apps For Managing Portfolios, How to Buy Bonds: A Primer for New Investors, The 5 Best Round-Up Apps For Saving Money. This compensation comes from two main sources. 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. Fill in the recipient’s name. If you haven’t paid for your money order yet, you’d need to do that first before you can send it. Learning how to write a money order is easy, but it’s important to get it right. Without the original receipt, you may have a harder time getting your money back if a money order comes up missing. Remember the exact amount that was on the form, the person you'd send it to and if there is a serial number, you can write it down. Keep the detachable receipt for your money order after you fill it out, and record who you sent it to. The date and dollar amount should be automatically filled in for you when purchasing the money order; the rest you’ll need to add yourself. Typically, you need to have cash or a debit card to pay for money orders. You should also review a money order issuer’s policies on canceling or replacing a lost or stolen money order. We suggest … This typically goes underneath your name, if this information is required. First, you’ll fill in your name. Make sure you have a dark-ink pen to fill out the form. Keep in mind that opening a bank account can be a helpful and convenient way to manage your money and make payments. That’s where the payee signs the money order once they’ve received it. The way you fill out a money order is very similar to how you fill out a check. Money Order Templates. You can find me on LinkedIn or follow me on Twitter @seemomwrite. Regardless of where you purchase a money order, it must be filled out properly. You could write a note in the memo line specifying that that’s what the money is being used for. Many Americans Have Already Received Their $600 Stimulus Payments—Have You? Once you’ve paid for the money order, it’s as good as cash. This could be a person, if you’re making a cash payment to an individual. The steps are fairly simple, and are as follows: 1. (Indicator on image above shows where such signature field may appear on other money orders.). On the money order form, write the payee name. [1] X Research source [2] X Research source You can purchase a money order from the Post Office. Filling out a money order isn’t complicated, but it does require entering the right information and doing so correctly. MoneyGram's money order is even simpler to fill out: fill in, from top to bottom, who you're paying the order to, your signature, and your address. This will appear on the front of the money order. Check your local store for details as fees and limits vary by state. After you’ve filled out all the necessary fields on the money order, read through it again to be sure all the information is correct. Your receipt will also come in handy if you later need to cancel or replace a money order because it’s lost or stolen. A money order is a prepaid financial instrument that can be used when the business you’re paying doesn’t accept cash or checks. Here are the steps to follow when you fill it out: 1. A money order is a secure form of payment you can use in place of checks, cash or credit cards. Are you sure you want to rest your choices? Again, it’s important to write this information clearly and in ink. However, to correctly fill out a money order, you will need to provide the requested information: Name: Write the full name of the person or business you are paying with the money order. The recipient will be the only person or company authorized to deposit or cash the money order. For example, say you’re using a money order to purchase a used car from a private seller. Write the name of the … Fill out the money order as soon as you purchase it. Money orders can be purchased through banks, money transfer providers such as Western Union or MoneyGram, the U.S. 2. 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. You consent to our cookies if you continue to use our website. Add the recipient. Although money orders typically only cost a few dollars, some issuers charge higher fees than others. If the mistake is big enough, they may need to void the money order and print a new one. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our. Be sure to use pen and write legibly. Step 1: Fill in the recipient's name . A cashier’s check is drawn on the bank’s account, while a certified check is drawn directly from your account. Double-check it to make sure you’re writing the street number and street name correctly. If you lose a money order before you fill it out, anyone can pick it up, fill it out to themselves, and cash it. If you’re filling out a money order for the first time, it’s helpful to understand how to do it step by step. This is the name of the payee: the person or company receiving the payment. Check it twice – once you've verified that everything is correct, you can send it on its way. And, just as with a check, there are certain things you have to include for it to be valid. Somewhere on the money order, you should see a “Signature” field. Follow these steps to make sure you’re filling out an international money order correctly. A money order is essentially a type of prepaid check. Advertisement. Forbes adheres to strict editorial integrity standards. 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). 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. 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. Figuring out how to write a money order is easy, but it's essential that you do it right. Gather enough funds for the money order (plus fee), the recipient’s contact information, and your account number if you’re paying a bill. Triple check the recipient’s information. Filling out a money order with USPS is similar to writing a check, but there are a few differences regarding the information you need to fill in. 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. For instance, you could always choose to pay cash. Fill in the name of the recipient. Other payment options include using a person-to-person payment app or a prepaid debit card. Write Name of Recipient. Formats may vary slightly from issuer to issuer; still, this step-by-step guide can see you through. Once you’ve paid, hold on to your receipt. Fill in your name in the "From," "Purchaser" or "Purchaser, Signer for Drawer" field, though this only appears on some money orders. Best Personal Loans For Debt Consolidation. What Exactly Can Be Taken From You In A Lawsuit? However extra fees may apply if paying for the money order other than with cash. How Will Your Payment Arrive? Since your money orders are not tied directly to an account you own, they are difficult to track. Last step – be sure to keep your receipt for your records. Also, unlike a check you pay for a money order in advance, not when the person receiving it cashes it. How to Fill Out a Money Order Posted by Frank Gogol. To prevent this, make sure to fill out the form immediately upon purchase. But, while paying cash may be an obvious choice, it’s not always a realistic one. How to fill out a Walmart Money Order (Money Gram) - YouTube But as you complete a money order, take care to avoid these common mistakes: Another mistake to avoid is not comparing money order purchase fees before you buy one. How do you fill out a money order? Before you go to buy a money order, make sure you know what types … When Will I Get It? We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. Fill in your name and address. Who Is Eligible For The $600 Stimulus Check? 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. You can buy money orders for a a fee that ranges from $1-$5 depending on where you purchase the money order. 1. Start a free trial now to save yourself time and money! 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. The biggest differences between them lie in the cost and speed. Cashier’s checks and certified checks are two forms of official checks you can secure at a bank using your bank account. 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