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FutureStarrFilling out a money order
Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money.You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.I recently received a money order for the first time, and it was a little upsetting. I had no idea what to do with it. Here's what I learned. Once I figured out where to go, the $500 check went through seamlessly.
The requirements to fill out a money order vary by institution, whether its Western Union or the United States Postal Service. Each institution’s money order may differ slightly in appearance as well. However, you’ll generally need the following information.Write the name of the recipient of the money order in the “pay to” or “pay to the order of” field. This could be a person’s name or the name of a business. Spell everything correctly, making sure your writing is legible and in ink.
Sign the front of the money order in the portion labeled for your signature. This section may be titled “Purchaser’s signature,” “Purchaser,” “From,” “Signer” or “Drawer.” Do not sign the back of the money order. This is where the person or business that you are paying endorses the money order before they cash it.Keep your receipt, which contains a tracking number. This number can tell you if the right person cashed your money order. And in case it is lost or stolen, you can use the tracking number to help you replace it. There may be a processing fee for replacing money orders. Your receipt can also help you cancel the money order should your plans change. (Source:www.bankrate.com)