What If I Sign My Money Order In The Wrong Line?
Key Takeaways
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Most money orders require the name of the recipient, your address, and your signature, with space for a memo or your account number if you're paying a neb
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Always keep the receipt in case at that place is an issue or if your money order is lost or stolen
A coin order is a printed certificate that's written for a sure amount of money, much like a personal check. Dissimilar a check, you need to purchase a coin club — only certain places sell them — and yous have to pay the amount of the money club up front. So if you want to ship a $30 coin order, you demand to pay $30 up front and then pay the fee, which is normally a couple of dollars.
Money orders are popular because they are cheap, simple to make full out, and you don't need a bank business relationship to get ane.
In this commodity:
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Where to become a money society
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How to fill up out a money guild
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When to use money orders
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Alternatives to money orders
Where to go a money guild
At that place are many places where you tin can become a money order:
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Banks or credit unions
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The post office (USPS)
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Western Spousal relationship
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Large stores and pharmacies, including Walmart, Kmart, and CVS
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Convenience stores, including 7-11, Acme, Circle K, Kwik Trip, ShopRite, Super Stop, and Speedway
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Grocery stores, including Kroger, Meijer, Publix, Safeway, Nutrient King of beasts, Giant Eagle, and Hy-Vee
Many of the money orders from the stores and companies in a higher place are provided past MoneyGram, or through a partnership with Western Union. The U.S. post has its own coin club, which is then easy to send through the mail service if necessary.
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How to fill out a money order
Coin orders wait similar to personal checks and filling them out is as well a like procedure
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Fill in the recipient'due south proper name
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Write your accost on the "purchaser" line
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Add a memo or account number
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Sign the front of the money order
Step one: Fill in recipient'southward name
This is the name of the payee: the person or company receiving the payment. The line you write this on usually says Pay to or Pay to the social club of. Some money orders, like from the USPS, besides take space for the recipient'south address.
Make sure you write the recipient's information clearly and spell everything correctly. You cannot make changes to the money order if y'all brand a mistake.
Step 2: Write your address on the "purchaser" line
Next is usually a line that says Purchaser'south accost. You lot are the purchaser and so you should write your electric current mailing accost. Some money orders may utilise the words From, Sender, Issuer, Remitter, or Drawer.
Putting your address allows the recipient (wherever they deposit the money order) to contact you if they want to confirm that it's real or if at that place is an outcome. Some coin orders ask you to write (not sign) your name likewise. USPS money orders have a line for your proper name above the lines for your accost. It'due south best to apply your full legal proper name.
Step iii: Add a memo or account number
Many money orders have an boosted line that says Payment for, Account number or Memo. If you're paying a bill, you lot can write your business relationship number on this line to help the recipient know which account to credit. Yous can as well get out a memo on this line, or just leave information technology blank if y'all don't demand it.
Footstep four: Sign the forepart of the money order
The final line on the front of the coin order is ordinarily for your signature. This line may say Purchaser's signature, or just Purchaser. In the instance of MoneyGram, the signature line too says Signer, or Drawer.
Not all money orders require your signature. For example, it isn't necessary to sign a USPS coin order.
The back of the money order has a line for the recipient'southward signature, so make sure yous sign on the front, not on the back.
Continue the coin society receipt
Depending where go the money order, it volition either accept a detachable receipt or the seller will simply give you lot a separate receipt. Make sure to keep this every bit proof that you purchased the coin club. You may need information technology if your money order is lost or stolen and you need to try and get a refund.
Y'all tin also use the receipt to track your money lodge and see if it has been deposited. To do this, you will need the serial number, tracking number, or money order number written on the front and the exact amount of the money order. Tracking a coin order does cost actress, though. Yous can expect to pay at least $5.
When to use money orders
Money orders are a simple mode to send payments, specially big payments where cash isn't an option. Because you pay for a money lodge upwards front, the recipient knows that it will not bounce. That's why they're popular for payments like a credit carte du jour beak or the deposit for an apartment.
It's likewise difficult for someone other than your intended recipient to deposit or cash a money order: they will need to provide the proper identification for a place to accept a money order.
The other large advantage with a money order is that you tin can send them even if you don't have a depository financial institution account. Equally long as you tin can beget the payment and the modest fee, y'all can get one. Your recipient doesn't need a depository financial institution business relationship either.
Here are some other ways to send money without a bank account.
Drawbacks of money orders
There are a couple of potential drawbacks to consider with money orders. Get-go is that they usually have a limit of $ane,000 per 24-hour interval. That means you may need to get multiple money orders, over multiple days, for a big payment.
You volition as well need to pay a fee to get a money guild. The fee varies only it's unremarkably about $two, which is actually lower than the toll of most alternatives.
Keep in mind that you will need to pay for a money order up forepart. That ways when you go somewhere to get one, you need to have either enough cash, a credit card, debit card, or sometimes traveler'due south checks.
Alternatives to money orders
The chief alternatives to money orders are a cashier's check or other official banking company check, such as a certified check. These all work similarly to a money order but instead of getting them from a 3rd party, you need to get them from a bank or credit matrimony.
(Learn more near whether yous should piece of work with a bank or credit union.)
Yous will need to provide the information for your recipient, and you will need to have plenty to pay the corporeality of the check. Yous will pay the bank, which volition write the cheque in its ain proper name. A cashier's checks will not bounciness because it is backed up by the banking concern itself. Cashier's checks usually have a fee of most $10 and you lot usually need to accept an account with the bank already.
Cashier'due south checks are also an option if you're sending money from one bank to another.
Y'all may also want to consider a wire transfer. Wire transfers are the fastest way to send funds and usually become though within a few hours. However, they also have a loftier fee of $30 or more.
If you're only sending a small amount of money, an ACH payment is a good idea. These are digital payments that also transfer very rapidly. Many banks permit y'all to make ACH transfers and you tin also use services similar PayPal, Venmo, or Zelle.
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Source: https://www.policygenius.com/banking/how-to-fill-out-a-money-order/
Posted by: thomaswiltoped.blogspot.com
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