Fill out the money order at the counter with a retail associate. Pay the dollar value of the money order plus the issuing fee. Keep your receipt to track the money order. Money Order Fees Fees are based on the money order dollar amount.
If you hold the money order up to the light you should see: Watermarks of Ben Franklin on the left side repeat top to bottom circle 1 on image. Check the Dollar Amounts If the dollar amount is discolored, it may have been erased, indicating fraud circle 3 on image. Make sure the dollar amount is imprinted twice circle 4 on image. See if the dollar value is too large. Suspect a Fake? If you suspect fraud, call the U. Postal Inspection Service at How to Cash Domestic Money Orders Domestic money orders never expire and they do not accrue interest.
Take a primary photo ID with the money order to any Post Office location. Sign the money order at the counter in front of a retail associate. Check the Status of a Money Order You can check the status of a money order you've purchased from the U. Make sure you have the following information for the postal money order you want to check: Serial number Post Office number Dollar amount.
Money order loss or theft may take up to 30 days to confirm. Prepare your customs information in advance — just fill out the form online before going to the post office. No need to fill out a paper form! Take charge of your online privacy. Online cross-border shopping explained.
Buy prepaid envelopes online to save time and money. Send certified cashable money orders at the post office No bank account, no problem. Find a post office. Why buy a Postal Money Order. There's also a barcode serial number, polarized ink and a security code that's verified when the money order is cashed.
How much does it cost? You pay the amount on the money order and a fee for the service. On the other hand, some banks offer them free to specific categories of customers. Credit card companies generally charge hefty fees on money order purchases because they treat them like cash advances.
You also could be piling up interest charges, so avoid this option if possible. First, you'll need to know the exact dollar amount you want. This will be machine-printed directly on the money order, and you won't be able to alter it later.
You also need to know the proper name of the person or company you'll make out the money order to. Be precise, or the recipient may have trouble cashing it. If you're paying a business, add the account or invoice number to ensure the payment is appropriately credited to you.
You can fill this information out later, but a blank money order as long as the cash amount is on it is as good as cash if it's lost or stolen. Also, bring a debit card or cash to pay for your money order, unless you're at your bank and can withdraw it from your account. If you forget to fill out the name of the recipient on your money order and then lose it, anyone can cash it, it is basically found money.
The U. Postal Service carries its brand and format of money orders, as do some banks and credit unions. Other sellers generally offer one of two brands: MoneyGram is sold at all Walmart and CVS stores, while Western Union is sold at 7-Eleven, some grocery chains, and check-cashing stores. Whichever type you get, the seller will imprint the date and the amount and then give you the incomplete money order to finalize by hand.
There are just three pieces of information you'll be asked to provide to complete any money order: the recipient's proper name, your address, and your name or signature. Money orders ask for your address so that the recipient can contact you if a problem occurs. If you're not comfortable sharing this information, there's nothing to stop you from leaving this field blank or entering your email address or cell phone number instead.
One required field on any money order is an indication of the sender. On most money orders, it's your signature that's requested, just as you sign a check. One optional field on most money orders can be quite useful. Or you can use the space for any other information, just like you would use the memo field on a check. USPS money orders offer additional space for the address of the recipient.
On MoneyGram and Western Union orders, only your address is requested. MoneyGram money orders are confusing. The blank says "Address," with no clues on whether your or the recipient's address is wanted, and it means the sender's address. Once you've filled in all the fields, be sure to detach the receipt. This stub provides the money order's official identification number, and you can use it to track whether the money order was cashed, and it's also a record of your payment. Now that you have a completed money order in hand and a receipt, you can safely hand-deliver the money order or mail it to your recipient.
Only the recipient will be able to cash it. While a money order is seemingly straightforward and straightforward to use, there are mistakes to avoid when using a money order. The most important thing is to make sure you spell the recipient and payee's names correctly and fill out all the parts of the order. If you forget to fill something out or misspell a name, it can void out the order. Never leave anything on the order blank, and don't forget to keep your receipt of the transaction.
Don't forget to shop around for the lowest fees for a money order, either. One obvious advantage of using a money order is its simplicity. You can walk into a big box or even your local grocery and walk out with a money order, You don't need to have a checking account to purchase a money order, either, and they are simple to fill out.
The disadvantages are minimum, but they may be enough to dissuade you from using one. First, you have to pay a fee to purchase a money order, something you don't have to do when using a check. If you lose a money order and it is not filled out correctly, it can be easily stolen.
You'll have to purchase more than one, and with each order comes additional fees. If you lose or need to cancel your money order, it can take up to 30 days or longer to be reimbursed. If you need to cancel or replace a money order, immediately contact the entity that issued it to you, and they will ask you to fill out a cancellation request form. Always make sure to save your receipt and be prepared to show it. You will need to pay a fee for a canceled money order, as well.
When you fill out a cancellation request, you may ask for a replacement money order or a cash refund. According to Experian, it can take up to 30 days or more for a refund or replacement, so you will have to be prepared to wait.
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