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.
If the matter is urgent, you will have to purchase another money order. There are many alternatives to money orders. You can use apps like Venmo and PayPal to send money with one swipe, and many banks, like Chase, use Zelle to transfer money directly from your checking account. You can write a personal check, too, for zero fees and more protection, should the check get lost or stolen.
You can buy a money order for a small fee at convenience stores, money order businesses, big-box stores, and at some credit unions and banks. There are drawbacks to using money orders such as a limited amount of money on each order, fees, and a 30 day or more waiting period for a refund on a canceled money order. Unfortunately, if you make a mistake, it is hard to correct. For example, if you write out the wrong payee name or misspell it, you will have to ask for a refund, which could take 30 days, according to Western Union.
If someone finds a blank money order with a specified amount on it, in theory, they could fill it out and cash it. 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. Investigating a money order's lost or stolen status may take up to 60 days.
Requesting a Refund Take your money order receipt to any Post Office location. Talk to a retail associate at the counter to start a Money Order Inquiry.
After starting the inquiry, you will be able to check the status of your money order and inquiry progress by visiting the Money Orders Application. Notarize the form. Send the notarized form along with the required documents showing you as a purchaser by email to RMO westernunion.
Please note that a non-refundable processing fee of 30 USD will be automatically deducted from your principal refund amount. Print the form and enter the details. Send the completed form along with the original or clear copy of the money order to the address mentioned on your receipt or by fax at or by email to RMO westernunion.
For your own records, please make and retain the copies of all the documents you send. The money order receipt must accompany each request to avoid delay in processing. Stop payment on an outstanding money order is completed only when the request has been submitted and processed. Western Union does not control the mailing process and it may take an additional days.
We cannot verify if a customer is the true purchaser when you call Customer Care. This purchase agreement is stated on the money order receipt. If the money order has been cashed, a photocopy will be mailed to you only when the processing fee is received. If funds are available, you will receive a refund check. Send the completed form to the address mentioned on your receipt or by fax at or by email to RMO westernunion. Cash management accounts are typically offered by non-bank financial institutions.
Wealthfront Cash Account. CDs certificate of deposit are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts. Capital One CD. APY 1. Chime Spending Account. One Spend. Citi Priority Checking. LendingClub Rewards Checking. Money market accounts pay rates similar to savings accounts and have some checking features.
Quontic Money Market Account. Back to top. On a similar note
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