FutureStarr

How to fill out a money order

How to fill out a money order

How to fill out a money order

Filling out a money order is a fairly straightforward process, but it’s important to get it right. When filled out properly, these paper documents allow you to securely send or receive payments, providing an alternative to cash, checks or credit cards. Western Union says you should “think of a money order as a pre-paid check.”

Money order

A memo line allows you to note what the money order is designated for. For example, you can specify that it is to purchase a specific item or pay off a particular debt. If you have an account or order number from the payee, this is where to include it. This field might also be titled “payment for” or “account number.” 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.

However, you may want to avoid using your credit card to purchase a money order, as your credit card company may consider the purchase a cash advance. Cash advances may trigger steep fees, and you may be hit with a higher-than-normal interest rate until you pay off the balance. Some issuers won’t accept credit cards as payment either.You should also review a money order issuer’s policies on canceling or replacing a lost or stolen money order. Ideally, losing a money order or having it stolen isn’t something you have to worry about. 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.

CASH

You'll also need to bring a valid form of payment to buy the money order—cash, traveler's checks, and debit cards are all generally accepted by most issuers.

You'll also need to bring a valid form of payment to buy the money order—cash, traveler's checks, and debit cards are all generally accepted by most issuers. (Source: www.thebalance.com)

 

Related Articles