How to Fill Out a Money Order — 6 Step Guide With Example
There’s no scarcity of the way to pay anyone in this day and age. From money and bank cards to virtual platforms like Zelle and PayFriend, many people can pass our complete monetary lives with out ever coming throughout a cash order.
But they nonetheless exist, and if you wish to have to fill one out, you’ll have no thought learn how to pass about it. Don’t fear; we’ve were given you lined. It’s truly fairly easy.
How to Fill Out a Money Order
Filling out a cash order is just like writing a take a look at. You want a lot of the similar knowledge, plus slightly further. Follow those steps to be sure to put all of the proper stuff in all of the proper puts.
Note: Be positive you write legibly. Hard-to-read writing could make a cash order invalid.
1. Provide Information to the Issuer
The corporate issuing the cash order will fill in some knowledge after they provide the order:
- Serial quantity, which identifies and tracks the cash order
- Date issued
- Issuer knowledge, equivalent to retailer ID, publish place of work quantity, and clerk ID
- Dollar quantity as much as a collection restrict (normally, $1,000). If you wish to have to ship a better quantity, you will have to get more than one cash orders.
You’ll wish to supply a sound ID, equivalent to a driving force’s license or passport, to make sure your identification.
2. Write the Recipient’s Name & Address
Write the identify of the individual you’re paying at the “Pay to” line. (For some issuers, this line might say “Pay to the order of” or “Payee.”) If you’re paying a person, use their criminal identify. If you’re paying a trade, use the trade’s identify. Under that, write the payee’s cope with.
Should you wish to have to ship a cash order to 2 other folks, watch out together with your wording. If you sign up for the names with the phrase “or” (e.g., Jane Doe or John Doe), both recipient can money the cash order with out the opposite’s signature.
If you sign up for the names with the phrase “and” (e.g., Jane Doe and John Doe) or don’t use a conjunction (e.g., Jane Doe, John Doe), each recipients will have to endorse the cash order to money it.
3. Write Your Name & Address
On the “From” line, write your criminal identify. (For some issuers, this line might say “Purchaser” as an alternative.) Below that, write your cope with.
4. Fill within the Memo Line
The “Memo” line is the place you determine what the fee is for. This makes it more uncomplicated for the recipient to use your fee as it should be. Examples of notes you may come with are:
- The merchandise or provider you’re paying for (e.g., “Rent, Jan. 2023”)
- Your billing account quantity
- The order quantity
5. Sign Your Name
Depending at the issuer, your cash order will have a signature line. If it does, signal it. Do now not signal the again of the cash order — that is the place the recipient will endorse it.
6. Keep Your Receipt
Keep the cash order receipt to your data. It serves as evidence of fee and lets you monitor whether or not the cash order has been cashed. Plus, you’ll want it if you wish to cancel the order.
Money Order Writing FAQs
Since cash orders aren’t that commonplace anymore, some questions naturally pop up about writing them.
Where Can I Get a Money Order?
You can get a cash order at a financial institution or credit score union, a publish place of work, Western Union or MoneyGram, 7-Eleven, CVS, Walmart, Ok-Mart, and grocery shops equivalent to Safeway, Kroger, Publix, and Meijer.
How Can I Pay for a Money Order?
Cash, debit card, and traveler’s tests are repeatedly accredited sorts of fee for cash orders. Some issuers additionally settle for bank cards, however your bank card corporate might imagine this a money advance and rate you a charge and better hobby than it could for a purchase order.
What Do I Do if I Make a Mistake Writing a Money Order?
Writing over any knowledge on a cash order invalidates it. If you’re making a mistake filling out a cash order, equivalent to spelling the recipient’s identify incorrect, you will have to cancel the order and write a brand new one with the proper knowledge.
Can I Cancel a Money Order?
If your cash order is misplaced or stolen, otherwise you fill it out incorrectly, you’ll be able to cancel it by means of contacting the issuer. You’ll wish to give you the cash order monitoring quantity and whole a cancellation shape.
You may additionally wish to pay a cancellation charge, which normally levels from $6 to $15 in case you have your receipt and as much as $30 for those who don’t.
Can I Get a Refund if a Money Order Isn’t Cashed?
Money orders don’t have expiration dates, so you’ll be able to ask for a reimbursement anytime if the recipient doesn’t money it. The procedure and costs are the similar as for canceling a cash order.
However, consider that sure issuers start charging charges if a cash order is uncashed for a 12 months or extra. This will devour into your refund quantity, so don’t wait too lengthy in case your cash order hasn’t been cashed.
What’s the Difference Between a Money Order & a Cashier’s Check?
Money orders and cashier’s tests (sometimes called financial institution tests) are each assured sorts of fee. You pay for them prematurely, so the recipient is aware of you’re just right for the cash you’re sending them.
While you’ll be able to get a cash order with no checking account, a cashier’s take a look at is issued by means of your financial institution, and the cash comes from your account. Cashier’s tests normally have upper buck quantity limits than cash orders, however they arrive with upper charges.
A cash order may also be useful if you wish to have to ship a big amount of cash however don’t wish to ship money, which will simply be misplaced or stolen. You don’t want a checking account to ship one, and although you’ve gotten an account, a cash order is normally inexpensive than a cashier’s take a look at.
Plus, in contrast to cashier’s and private tests, cash orders don’t come with your checking account and routing quantity. This protects your delicate non-public knowledge from ne’er-do-wells.
Consider it yet another device on your bills arsenal.