Fill in your name and address. Again, it’s important to write this information clearly and in ink. When Will I Get It? 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. I've written for Life + Money by Citi, Bankrate and The Balance, among others. Below the space for the payee’s name, you should see another field for the payee’s address. You can do money orders anywhere there is a Western Union. Daphne Foreman is the Banking and Personal Finance Analyst for Forbes Advisor. Money orders can be purchased through banks, money transfer providers such as Western Union or MoneyGram, the U.S. This is where you’ll want to add your signature once you’ve filled out the rest of the money order. Making the best use of them, of course, starts with knowing how to fill out a money order. Also, unlike a check you pay for a money order in advance, not when the person receiving it cashes it. These are generally very affordable and easy to fill out. 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. 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. Without the original receipt, you may have a harder time getting your money back if a money order comes up missing. Advertisement . Also there is a fee you must pay to get another money order. Make sure you have a dark-ink pen to fill out the form. And, just as with a check, there are certain things you have to include for it to be valid. Filling out a money order shouldn’t be a complicated process, if you know what information is needed and where it should go. 1. For example, say you’re using a money order to purchase a used car from a private seller. You also must fill out a money order correctly, otherwise it will have to be canceled and refunded, and then repurchased. Other places you can get a mone… Fill out, securely sign, print or email your money order template form instantly with SignNow. Second Stimulus Check Calculator: How Much Will You Receive? On the money order form, write the payee name. 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. Illustration by Euralis Weekes. Check your local store for details as fees and limits vary by state. But, while paying cash may be an obvious choice, it’s not always a realistic one. How to Fill Out a Money Order Posted by Frank Gogol. How to fill out a Walmart Money Order (Money Gram) - YouTube Figuring out how to write a money order is easy, but it's essential that you do it right. A Travelers Express money order for $20.00 U.S. is ready to be filled out by the purchaser. An ACH transfer lets you transfer money from one bank account to another electronically. The biggest differences between them lie in the cost and speed. A Travelers Express money order for $20.00 U.S. is ready to be filled out by the purchaser. 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). The way you fill out a money order is very similar to how you fill out a check. You can find me on LinkedIn or follow me on Twitter @seemomwrite. Step 3. Money orders look similar to personal checks and filling them out is also a similar process. This typically goes underneath your name, if this information is required. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. Ideally, losing a money order or having it stolen isn’t something you have to worry about. If you’re filling out a money order for the first time, it’s helpful to understand how to do it step by step. Fill in the recipient's address and your address, if required, depending on the type of money order. A money order is essentially a type of prepaid check. ANNOTATED BY FORBES ADVISOR These sample images are provided for educational purposes only. Fill in your name in the "From," "Purchaser" or "Purchaser, Signer for Drawer" field, though this only appears on some money orders. The steps are fairly simple, and are as follows: 1. Include notes about the transaction in the "Memo" field if there is one. To prevent this, make sure to fill out the form immediately upon purchase. Write your full name, and if there is an address line, fill it out too. Don’t write on the back of the money order; this area is for the recipient to sign. 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. You can buy money orders for a a fee that ranges from $1-$5 depending on where you purchase the money order. The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. 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. We suggest … How to fill out a money order. If the mistake is big enough, they may need to void the money order and print a new one. Here are the steps to follow when you fill it out: 1. Do not sign the back; that's where the recipient signs. © 2021 Forbes Media But some money order issuers will allow you to pay with a credit card. Weird & Wacky, Copyright © 2021 HowStuffWorks, a division of InfoSpace Holdings, LLC, a System1 Company. By following these five steps, you can make sure your funds are delivered to the right person or business. This compensation comes from two main sources. Wikipedia. Start by buying a money order for the desired amount. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our. Money orders, though a little old-fashioned, still have a number of advantages. Write the name of the … 2. You cannot make alterations once the money order is processed. Or, if you’re paying a bill, you could mention that in the memo line. This means they are accepted more often than checks, as they can’t bounce back due to lack of funds. A money order is a secure form of payment you can use in place of checks, cash or credit cards. Or it could be the name of a business, if you’re using the money order to pay a bill. 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. 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. 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. 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. How Will Your Payment Arrive? This is the name of the payee: the person or company receiving the payment. Start a free trial now to save yourself time and money! 3. They are represented by little slips of paper the money order buyer fills out. Write Name of Recipient. What Exactly Can Be Taken From You In A Lawsuit? Fill this out immediately after purchase. Double-check it to make sure you’re writing the street number and street name correctly. To buy a money order, just bring along the cash to cover the amount requested and fee. 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