ACH transfers are free, but they can take a few business days to process. You also must fill out a money order correctly, otherwise it will have to be canceled and refunded, and then repurchased. A prepaid debit card enables you to load money onto the card, which you can then use to pay bills. How To Fill Out A Money Order__Try Cash App using my code and we’ll each get $5! In some instances, you don’t need a bank account to send one. And, just as with a check, there are certain things you have to include for it to be valid. In most cases, the process is quite straightforward – but since it deals with money, you must get it right on the first go. As the purchaser or person who buys the money order, there are a couple of fields where you’ll add your information. And money orders can only be claimed by the person or business they’re addressed to. Without the original receipt, you may have a harder time getting your money back if a money order comes up missing. Illustration by Euralis Weekes. Learning how to write a money order is easy, but it’s important to get it right. You may also see a space for a signature on the back of the money order, but that’s not for you. This receipt should include a tracking number that you can use to track the money order and see when it’s cashed. 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 using a money order to make a payment to a business, you’ll put the business address here. 1. Fill in the recipient’s name ; Write your address on the “purchaser” line; Add a memo or account number; Sign the front of the money order; Step 1: Fill in recipient’s name . Person-to-person payment apps let you pay bills and send money from your bank account without having to write checks. This field might be labeled "Pay to the order of," "Pay to," or "Payee." 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. What Exactly Can Be Taken From You In A Lawsuit? This could be a person, if you’re making a cash payment to an individual. ANNOTATED BY FORBES ADVISOR These sample images are provided for educational purposes only. How to fill out an international money order. This will appear on the front of the money order. This typically goes underneath your name, if this information is required. 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. Some money orders only have an area for your name. Somewhere on the money order, you should see a “Signature” field. Or, if you’re paying a bill, you could mention that in the memo line. Typically, you need to have cash or a debit card to pay for money orders. Best Personal Loans For Debt Consolidation. A wire transfer, on the other hand, can be completed in just a few hours. Where Is My Stimulus Check? How to fill out a Walmart Money Order (Money Gram) - YouTube The trade-off for that convenience, however, usually means paying a fee to your bank. (Indicator on image above shows where such signature field may appear on other money orders.). This is the name of the payee: the person or company receiving the payment. Make sure the spelling and information are correct. You can find me on LinkedIn or follow me on Twitter @seemomwrite. 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. First, you’ll fill in your name. A money order is essentially a type of prepaid check. Fill this out immediately after purchase. Once you’ve paid for it, a money order is as good as cash. 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 cashier’s check is drawn on the bank’s account, while a certified check is drawn directly from your account. Forbes adheres to strict editorial integrity standards. She has worked as a personal finance editor, writer, and content strategist covering banking, credit cards, insurance and investing. 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. Next, you’ll write down your address. The first thing that you should do is write out the name of the recipient for the money order. Other payment options include using a person-to-person payment app or a prepaid debit card. Available for PC, iOS and Android. Keep the detachable receipt for your money order after you fill it out, and record who you sent it to. But, while paying cash may be an obvious choice, it’s not always a realistic one. A money order is a prepaid financial instrument that can be used when the business you’re paying doesn’t accept cash or checks. Gather enough funds for the money order (plus fee), the recipient’s contact information, and your account number if you’re paying a bill. Daphne Foreman is the Banking and Personal Finance Analyst for Forbes Advisor. 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. Steps to Fill Out a Money Order. 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 is a secure form of payment you can use in place of checks, cash or credit cards. Money Order Templates. As a small business owner and former financial advisor, Daphne has first-hand experience with the challenges individuals face in making smart financial choices. Do not sign the back; that's where the recipient signs. Fill in the recipient’s name. 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. This is where you’ll want to add your signature once you’ve filled out the rest of the money order. Write your full name, and if there is an address line, fill it out too. Write the name of the person or company where you’re sending the money order to in the “Pay to the Order of:” line. Make sure the recipient’s name and address are exactly correct. 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. Below the space for the payee’s name, you should see another field for the payee’s address. If the payee is a person, you may put their home address. 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. LLC. Once you’ve paid for the money order, it’s as good as cash. 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. If the money order is being used to pay a bill, make sure to write your account number here. 3. A Travelers Express money order for $20.00 U.S. is ready to be filled out by the purchaser. Again, it’s important to write this information clearly and in ink. Write the name of the … 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. Write the name of the person or business you are addressing the money order to in the “PAY TO THE ORDER OF” field first. Make sure the name is spelled correctly, otherwise the recipient. Fill out, securely sign, print or email your money order template form instantly with SignNow. Purchase the money order at a bank, credit union, post office or another provider. A Travelers Express money order for $20.00 U.S. is ready to be filled out by the purchaser. Money orders represent a convenient option when you have a payment to make. 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). Filling out a money order is as simple as plugging in the details mentioned above. You could write a note in the memo line specifying that that’s what the money is being used for. For example, say you’re using a money order to purchase a used car from a private seller. Cashier’s checks and certified checks are two forms of official checks you can secure at a bank using your bank account. Or it could be the name of a business, if you’re using the money order to pay a bill. This spot may be marked “From” or “Purchaser” on the money order, depending on where you purchase it. The steps are fairly simple, and are as follows: 1. 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. Fill in the recipient's name (whether it's a person or a business) in the field marked "Payee," "Pay To," "Pay To the Order of" or some variant on this general theme. How to fill out a money order completely and accurately: 1. Also there is a fee you must pay to get another money order. Step 3. Money orders can be purchased through banks, money transfer providers such as Western Union or MoneyGram, the U.S. This final step before you can send it off to the recipient is not required for USPS postal money orders. But some money order issuers will allow you to pay with a credit card. How do you fill out a money order? Your receipt will also come in handy if you later need to cancel or replace a money order because it’s lost or stolen. The payee is the party that receives the money you’re sending via money order. 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. Follow these steps to make sure you’re filling out an international money order correctly. If you make a mistake while filling out your money order, ask the cashier who printed it for you what to do. 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. Write their name clearly and in ink so that it can’t be altered later if the money order is lost or stolen. Write the name of the person or organization to whom you’re sending money on the line that says some variation of “Pay to” or “Pay to the order of.”. Start by buying a money order for the desired amount. Also, unlike a check you pay for a money order in advance, not when the person receiving it cashes it. 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. How to Fill Out a Money Order Posted by Frank Gogol. 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. If you haven’t paid for your money order yet, you’d need to do that first before you can send 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. 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. Instead, show the error to the person or business you’re buying the money order from. When Will I Get It? Fill out the money order as soon as possible. You can buy money orders for a a fee that ranges from $1-$5 depending on where you purchase the money order. For instance, you could always choose to pay cash. Money orders can look different, depending on where you buy them. Start a free trial now to save yourself time and money! Filling the payee field out first is important because, until that’s filled in, anyone could write their name on the money order and cash it. Sign the money order in a "Signature" or "Purchaser" field, if one is required. This could result in an additional fee; be careful and write slowly when you fill it out 2. Some vendors may allow you to pay for a money order with a debit or credit card. 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. You’ll also want to include the account number for the bill you’re paying here. Money orders can also be sent internationally and can be used to settle debts larger than $1,000 (by sending multiple money orders). How to fill out a money order. They are represented by little slips of paper the money order buyer fills out. Fill in the recipient's address and your address, if required, depending on the type of money order. You should also review a money order issuer’s policies on canceling or replacing a lost or stolen money order. On the money order form, write the payee name. This means they are accepted more often than checks, as they can’t bounce back due to lack of funds. © 2021 Forbes Media Money orders, though a little old-fashioned, still have a number of advantages. 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. Weird & Wacky, Copyright © 2021 HowStuffWorks, a division of InfoSpace Holdings, LLC, a System1 Company. Last step – be sure to keep your receipt for your records. 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. A person who buys a money order will have to fill out the name of the recipient on a form and the amount that the recipient should receive. That’s where the payee signs the money order once they’ve received it. This is where you’ll write the purpose of the money order. 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. All Rights Reserved. Here are the steps to follow when you fill it out: 1. Formats may vary slightly from issuer to issuer; still, this step-by-step guide can see you through. Many Americans Have Already Received Their $600 Stimulus Payments—Have You? Wikipedia. Double-check it to make sure you’re writing the street number and street name correctly. How Will Your Payment Arrive? Like filling out a check, you have to designate a specific recipient on each money order. Make sure you have a dark-ink pen to fill out the form. By following these five steps, you can make sure your funds are delivered to the right person or business. Be sure to use pen and write legibly. 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 most secure digital platform to get legally binding, electronically signed documents in just a few seconds. If you see that you’ve made a mistake, don’t try to correct it yourself. Step 1 – Fill in the recipient’s name. Fill in your name and address. Step 1: Fill in the recipient's name . Fill in the name of 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. Who Is Eligible For The $600 Stimulus Check? And paying cash doesn’t create a paper trail the way paying with a money order does. Filling out a money order shouldn’t be a complicated process, if you know what information is needed and where it should go. Making the best use of them, of course, starts with knowing how to fill out a money order. Before you go to buy a money order, make sure you know what types … Fill in your name in the "From," "Purchaser" or "Purchaser, Signer for Drawer" field, though this only appears on some money orders. Depending on their policy, they may be able to correct it for you. The way you fill out a money order is very similar to how you fill out a check. However extra fees may apply if paying for the money order other than with cash. Filling out a money order is as simple as plugging in the details mentioned above. I've written for Life + Money by Citi, Bankrate and The Balance, among others. For example, if you need to pay your mortgage, you could use an ACH transfer from your bank. Fill in the recipient’s name and address. 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? I'm a freelance financial journalist and a regular contributor to U.S. News and CreditCards.com. Filling out a money order isn’t complicated, but it does require entering the right information and doing so correctly. 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. To buy a money order, just bring along the cash to cover the amount requested and fee. To prevent this, make sure to fill out the form immediately upon purchase. Advertisement. Keep in mind that opening a bank account can be a helpful and convenient way to manage your money and make payments. Money orders look similar to personal checks and filling them out is also a similar process. How Money Orders Work . Are you sure you want to rest your choices? We suggest … Figuring out how to write a money order is easy, but it's essential that you do it right. 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. The recipient could also be a business like the Internal Revenue Service. Do You Need To Claim The Second Stimulus Check? Once you’ve paid, hold on to your receipt. Other places you can get a mone… An ACH transfer lets you transfer money from one bank account to another electronically. Or you might have to cancel the money order if you’ve already paid for it and purchase a new one. [1] X Research source [2] X Research source You can purchase a money order from the Post Office. Step 1: Make sure the money order is supported in the recipient’s country. Include notes about the transaction in the "Memo" field if there is one. 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. What's The Difference Between A Bank And A Credit Union? Wells Fargo makes money orders up to $1,000 available for purchase by their customers. Postal Service, grocery stores and other retail locations. If you’re filling out a money order for the first time, it’s helpful to understand how to do it step by step. Somewhere on your money order, you may see a “Memo” field. The recipient will be the only person or company authorized to deposit or cash the money order. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our. 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. You can do money orders anywhere there is a Western Union. You consent to our cookies if you continue to use our website. Check it twice – once you've verified that everything is correct, you can send it on its way. Add the recipient. Don’t write on the back of the money order; this area is for the recipient to sign. Regardless of where you purchase a money order, it must be filled out properly. Although money orders typically only cost a few dollars, some issuers charge higher fees than others. Money order fees vary but with a Shopper’s Card you may be eligible for a discount. 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. First, you have to get the money order. But either one can be used in place of a regular personal check, though your bank may charge a small fee for issuing one. Write Name of Recipient. 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. We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. 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. The Forbes Advisor editorial team is independent and objective. If a money order is ever lost, damaged or stolen, you can fill out a form to get another replacement. Triple check the recipient’s information. This compensation comes from two main sources. This is where you’ll add the recipient’s address information. Following these steps can help to ensure that your money order is properly completed before sending it off to the payee.

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