Use your full legal name and your current mailing address in this section. Make sure the amount you paid and the amount printed on the money order are the same. It’s a simple and reliable way to give money in person or send it through the mail. Do not sign the back; that's where the recipient signs. Endorse the money order by signing your name on the back. Stub/receipt: Even after you mail or deliver your money order, keep the receipt. Visit Money Orders to learn more about money order guidelines and tips. And it helps protect you too (more on that in a minute). Beware, though, that if you go this route, the cost most likely will be much higher than at a bank. This is where the person or business that you are paying endorses the money order … Western Union, for example, requires purchasers to fill out a form and pay a fee of $15 to get a refund. Write your signature on the front of the post money order where it says "signature," "purchaser, signer for drawer," or "purchaser's signature." Instead of just signing your name on the back of the check as you would when chasing the check yourself, you’ll need to include information about the person to whom you’re signing it over. Advertisement. If you don't have a bank account, many banks such as Chase, Wells Fargo and Bank of America will cash a money order for a fee. Find an Agent. The purchaser has to fill in the receiver’s name. The order only halts evictions for not paying rent. You are the purchaser of the money order and so you should sign the front of the money order in the portion titled “Purchaser’s signature,” “Purchaser,” “From,” “Signer” or “Drawer.” Do not sign the back of the money order. Some may accept money orders with minor, uncorrected errors in the names or addresses. Sign the front of the money order. Compare that with writing a money order, which is similar to writing a check. (Many cities and states, however, have set aside money to help with rent -- keep reading for how to find assistance where you live.) Money orders can be more difficult to track than a personal check—to find out whether the money order has been cashed, for example, can require forms and take weeks. However, remember not to sign the back of the money order. This will appear on the front of the money order. The process can take at least 30 days, and if the money order has been cashed or deposited, you’ll receive a copy of the front and back of the document. Then you can either present it to a teller. If you have a bank account, you can deposit the money order into your account, provided you haven't written on it. Last step – be sure to keep your receipt for your records. It isn't that easy with a money order. In that case, there will be no signature line on the front. The fee is $15 and requests are processed within 30 to 65 days. Currently, the USPS charges $6.15 for researching your money order. 1. Then they can cash it for you. Contact Us If you have money order related questions, please email the Accounting Help Desk or call 1-866-974-2733 . Look for a field marked "Signature," "Purchaser," or "Drawer" on the front of the document. Signature: Some money orders require a signature. Keep your receipt. Keep your receipt until you know the money order has been received. However, if the agent does not accept the money order, you will need to cancel and replace it. USPS money orders can be used for amounts up to $1000.00. At These 20+ Places. Sign the money order at the counter in front of a retail associate. These are generally very affordable and easy to fill out. Your local grocery store might be an option for cashing a money order. A money order is a payment order for a pre-specified amount of money.As it is required that the funds be prepaid for the amount shown on it, it is a more trusted method of payment than a cheque.. Hi Rebecca: Yes. Start by buying a money order for the desired amount. Take t… If you bought a money order, but now you don't need it, you undoubtedly will want that money back. And once someone cashes that money order, you more than likely won’t get your money back. It also takes 30 days for Western Union to process that request. Check it twice – once you've verified that everything is correct, you can send it on its way. Sign the Front of the Money Order. Cashing a Money Order at the Post Office . K.A. You will also need to provide identification no matter where you’re cashing your money order. Money order vs. cash: Because money orders are made out to a particular person as the payee, it's difficult for a third party to steal your money. On average a money order will cost around $1 - $5 in processing fees, which will come in particularly handy if you have to send a … [1] X Research source [2] X Research source You can purchase a money order from the Post Office. The money order helps the sale go smoothly because it’s prepaid, so your cousin knows you actually have the money. When you purchase a bank money order, you pay in advance the funds backing the payment. Puoi modificare le tue preferenze in qualsiasi momento in Le tue impostazioni per la privacy. It carries the same value as cash. The normal process for obtaining a photocopy by mail is to follow the Claim Card Process on the MoneyGram website. However, calling the location and asking can't hurt. Requests for expedited … Not all money orders require the sender's signature, however. Yahoo fa parte del gruppo Verizon Media. If you don’t have any ID, you can endorse the money order to someone else, like a sibling or friend, who does have an ID. Unlike checks that can come back for insufficient funds, a money order provides guaranteed funds. This is why money orders often are preferred over checks by some businesses. Each bank has its own set of criteria for cashing money orders, so check with the bank to find out what exactly you need to do. Money orders tend to cost less. Individuals may also receive expedited service by fax or email within three business days. Cashing the money order … When you receive a check and sign it over to someone else, you are creating a third-party check. USPS Money Order Correction Policy. You can also cash them at most banks and some stores. Noi e i nostri partner memorizzeremo e/o accederemo ai dati sul tuo dispositivo attraverso l'uso di cookie e tecnologie simili, per mostrare annunci e contenuti personalizzati, per la misurazione di annunci e contenuti, per l'analisi dei segmenti di pubblico e per lo sviluppo dei prodotti. Informazioni su dispositivo e connessione Internet, incluso l'indirizzo IP, Attività di navigazione e di ricerca durante l'utilizzo dei siti web e delle app di Verizon Media. Do not sign the money order.   Sign the Back of the Check in the Top Section of the Endorsement Area 4. Postal Service, cash them if they have the cash on hand, while some sellers might not cash them at all. This will identify you with the money order. Buy at participating Western Union agent locations. Each location also has its own set of requirements for cashing money orders that are made out to someone else, so you will need to visit the bank and inquire what the exact procedure is. To be identified with the money order, there will be a section that is labeled as “From”, “Purchaser”, “Sender”, or “Remitter”. The money order system was established by a private firm in Great Britain in … Some money orders do, while others do not. Sophisticated scammers have infiltrated the world of banking. The photocopy includes the back of the money order to see who endorsed the money order. A money order can be simple to fill out as long as you know what to do and the difference between certain types. The payor is also referred to as the purchaser or the drawer. Just cross your name out and/or the other person can just sign under yours. Take the money order back to its place of purchase to try to cash it. Other places you can get a mone… Per consentire a Verizon Media e ai suoi partner di trattare i tuoi dati, seleziona 'Accetto' oppure seleziona 'Gestisci impostazioni' per ulteriori informazioni e per gestire le tue preferenze in merito, tra cui negare ai partner di Verizon Media l'autorizzazione a trattare i tuoi dati personali per i loro legittimi interessi. This should be confirmed before the check is endorsed to avoid causing confusion with multiple signatures. Francis has been a freelance and small business owner for 20 years. Do not sign the back of the document because this is where the recipient signs to endorse the money order. The person or entity that you choose to sign the check over to will need to ensure that their bank will accept the check, as a bank is not obligated to do so. However, not every company accepts money orders. Money orders are safe and easy to buy or cash at more than 200,000 U.S. banks, credit unions, post offices, retailers, grocers, and convenience stores Money Orders may be cashed by either the payer (sender) or by the payee (identified in the Pay To section of the Money Order). Requesting a Refund You can get a refund for the money order if it gets lost or stolen, or it becomes apparent that the recipient does not plan to cash it. She has been writing about personal finance and budgeting since 2008. Per saperne di più su come utilizziamo i tuoi dati, consulta la nostra Informativa sulla privacy e la nostra Informativa sui cookie. NOTE: Money Orders are subject to various … Note that the process is the same regardless of whether you’re signing over a personal check, business check, insurance check, or another type. If check cashing stores are in your area, this is another option for cashing a money order. A check is an instrument written off the balance of your bank account. Bank drafts and money orders are more secure way of payment compared to personal or business cheques, because they require that the amount specified on them is pre-paid. Sign the postal money order. Always read the fine print about lost and stolen money orders, and requirements for cashing a money order. Sign the original money order and file your copy. Sign the money order in a "Signature" or "Purchaser" field, if one is required. She taught Accounting, Management, Marketing and Business Law at WV Business College and Belmont College and holds a BA and an MAED in Education and Training. Cashing a money order that you didn't use depends on the issuer of the money order and whether you have endorsed it to the intended payee. Look for any of these three terms in the required signature section on the money order. Finally, make sure that you go to a reliable source to place your money order. Western Union® money orders require your address and full name, but others may only have a field for your name. A primary difference between the two is that if you write a check to a recipient and then change your mind about completing the transaction, you simply can run the check through the shredder to discard it. A bank money order is a type of payment issued by a banking institution for a pre-determined amount. Cashier's checks or teller's checks are other terms for bank money orders. Also, it would be beneficial to take both portions of the money order with you: the money order itself and the tab that serves as your receipt. Many sellers of money orders, such as the U.S. MONEY ORDER SERVICES CANADA POST 2701 RIVERSIDE DR STN 25 OTTAWA ON K1A 0B1. To cash a money order, you’ll need to first endorse it by signing your name on the back. The back is where the recipient signs in order to cash or deposit the money order amount. Then you can either present it to a teller. Purchaser. You should not correct a mistake on a USPS money order yourself, customer service representatives for USPS said. Print the note, or have someone else write it if you think the recipient will recognize your handwriting. Just like banks, each check cashing location sets its own rules and fees for cashing money orders. Do not sign the back of the money order. 3. An anonymous money order without explanation could raise thoughts of a scam, causing the person to throw it away or report it. It's never a good idea to mail cash, either, so money orders can be a better alternative if you need to send funds to someone who doesn't live nearby or whom you don't want to see in person. If the money order is blank, put your name in the recipient's area and endorse the back of the money order. Only Wells Fargo customers can purchase Wells Fargo money orders. You pay for the money order when you purchase it. If the money order is blank, put your name in the recipient's area and endorse the back of the money order. First Quarter Finance: How to Refund a Money Order: USPS, MoneyGram, Western Union, etc, First Quarter Finance: Where Can I Cash a Money Order? Both money orders and bank drafts are used to pay money to a third party. Look for the area on the money order that requires the payor’s signature. This is where the person or business that you are paying endorses the money order before they cash it. With a money order, there’s no need for a bank account. Rural carriers may cash money orders if they have enough money on hand. Sign and send to the receiver. For example, a grocery store might cash a money order only up to a certain limit, such as $500, or might only cash orders issued from that store. The Chase Bank money order has certain guidelines that must be followed in order to achieve accuracy and prevent any further issues. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. A money order is a financial document that you paid to purchase up front. Money Orders and Bank Drafts are payment orders for pre-determined amount of money. Wait until you are indoors and ready to hand the money order to a teller or customer service agent before signing. Check with the store to determine the requirement for cashing a money order. You must write in the “pay to the order of” the name of the person to whom the money order is payable to. 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. Reviewed by: Alicia Bodine, Certified Ramsey Solutions Master Financial Coach. Benefits of using Western Union ® money orders Money orders are pre-paid. If you don't have a bank account, many banks such as Chase, Wells Fargo and Bank of America will cash a money order for a fee. Just make sure you buy your money order with cash or a debit card—no credit cards. Leave the back of the money order blank, as this is where the recipient must sign.Some money orders leave room for a note or memo to … Here's what you should know about how to fill out a money order. Your signature authorizes the financial institution to pay your money order funds to the payee. Customers may be required to provide acceptable identification in relation to Money Order transactions including enquiries. 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