Also there is a fee you must pay to get another money order. Fill in the recipient’s name and address. Figuring out how to write a money order is easy, but it's essential that you do it right. How Will Your Payment Arrive? By following these five steps, you can make sure your funds are delivered to the right person or business. Money orders can be purchased through banks, money transfer providers such as Western Union or MoneyGram, the U.S. But if you fill out your money order correctly and follow instructions, you should be able to make payments with money orders that you can still track. Add the recipient. A money order is essentially a type of prepaid check. The payee is the party that receives the money you’re sending via money order. Best Personal Loans For Debt Consolidation. Wells Fargo makes money orders up to $1,000 available for purchase by their customers. A person who buys a money order will have to fill out the name of the recipient on a form and the amount that the recipient should receive. Once you’ve paid for it, a money order is as good as cash. Make sure the recipient’s name and address are exactly correct. That’s where the payee signs the money order once they’ve received it. To buy a money order, just bring along the cash to cover the amount requested and fee. Aside from the face value of the money order, you’ll also have to pay whatever fees the issuer charges, which can range from under a dollar to $5, depending on where you purchase the money order. You may also see a space for a signature on the back of the money order, but that’s not for you. Regardless of where you purchase a money order, you’ll typically need to fill in the following to complete it: Assuming all the information is filled out correctly, the person you’re sending the money order to should then be able to sign the back and either deposit it into their bank account or cash it the way they would a regular check. The first thing that you should do is write out the name of the recipient for the money order. Write the name of the person or organization to whom you’re sending money on the line that says some variation of “Pay to” or “Pay to the order of.”. If you make a mistake while filling out your money order, ask the cashier who printed it for you what to do. This compensation comes from two main sources. Or it could be the name of a business, if you’re using the money order to pay a bill. Fill out the money order as soon as you purchase it. A Travelers Express money order for $20.00 U.S. is ready to be filled out by the purchaser. Filling out a money order is as simple as plugging in the details mentioned above. We suggest … Ideally, losing a money order or having it stolen isn’t something you have to worry about. This spot may be marked “From” or “Purchaser” on the money order, depending on where you purchase it. All Rights Reserved. Include notes about the transaction in the "Memo" field if there is one. The way you fill out a money order is very similar to how you fill out a check. Fill in the name of the recipient. 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. Person-to-person payment apps let you pay bills and send money from your bank account without having to write checks. Weird & Wacky, Copyright © 2021 HowStuffWorks, a division of InfoSpace Holdings, LLC, a System1 Company. Gather enough funds for the money order (plus fee), the recipient’s contact information, and your account number if you’re paying a bill. This could result in an additional fee; be careful and write slowly when you fill it out Follow these steps to make sure you’re filling out an international money order correctly. Fill in your name and address. You’ll also want to include the account number for the bill you’re paying here. USPS money orders can be used for amounts up to $1000.00. The payee’s or recipient’s name should go in the field marked “Pay to the Order of” or “Pay to” on your money order. First, you have to get the money order. Money orders can also be sent internationally and can be used to settle debts larger than $1,000 (by sending multiple money orders). Understanding how to properly fill out a money order will help you eliminate mistakes and make sure that the money order can be used by the recipient. In some instances, you don’t need a bank account to send one. I'm a freelance financial journalist and a regular contributor to U.S. News and CreditCards.com. Like filling out a check, you have to designate a specific recipient on each money order. You also must fill out a money order correctly, otherwise it will have to be canceled and refunded, and then repurchased. Available for PC, iOS and Android. Check it twice – once you've verified that everything is correct, you can send it on its way. Or you might have to cancel the money order if you’ve already paid for it and purchase a new one. Since your money orders are not tied directly to an account you own, they are difficult to track. I've written for Life + Money by Citi, Bankrate and The Balance, among others. However, to correctly fill out a money order, you will need to provide the requested information: Name: Write the full name of the person or business you are paying with the money order. 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. This receipt should include a tracking number that you can use to track the money order and see when it’s cashed. Keep in mind that opening a bank account can be a helpful and convenient way to manage your money and make payments. Sign the money order on the bottom right field on the front. Some money orders only have an area for your name. For example, if you need to pay your mortgage, you could use an ACH transfer from your bank. Other payment options include using a person-to-person payment app or a prepaid debit card. If you’re using a money order to make a payment to a business, you’ll put the business address here. ANNOTATED BY FORBES ADVISOR These sample images are provided for educational purposes only. 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. On the money order form, write the payee name. The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. Advertisement . This is the name of the payee: the person or company receiving the payment. This isn’t complicated at all, but making sure that you know how to complete every important detail can save you money and even time. Second Stimulus Check Calculator: How Much Will You Receive? Filling out a money order is as simple as plugging in the details mentioned above. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. Fill in the recipient's name (whether it's a person or a business) in the field marked "Payee," "Pay To," "Pay To the Order of" or some variant on this general theme. Write the name of the … They are represented by little slips of paper the money order buyer fills out. Fill out the money order as soon as possible. Start a free trial now to save yourself time and money! Money orders are useful for transactions where you can't or don't want to use cash, a personal check, a bank or cashier's check, or a credit card. Cashier’s checks and certified checks are two forms of official checks you can secure at a bank using your bank account. 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. Triple check the recipient’s information. This could be a person, if you’re making a cash payment to an individual. Make sure the amount you paid and the amount printed on the money order are the same. Following these steps can help to ensure that your money order is properly completed before sending it off to the payee. 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. LLC. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. 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. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services. Things you have a dark-ink pen to fill out a money order is as simple plugging! Order from completed in just a few seconds order if you ’ ll also to... Correct it yourself bring along the cash to cover the amount requested and fee be an obvious choice it... Check is drawn directly from your bank field may appear on other money.! Use our website be claimed by the person or business they ’ re paying fee! 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