The purchaser of a money order needs to follow some precise steps to complete the document correctly. Policygenius helps you shop the marketplace to find your best rate from America's top insurers. The main alternatives to money orders are a cashier’s check or other official bank check, such as a certified check. Sign the front of the money order. The United State Postal Service (USPS) sells money orders. A cashier’s check is a type of official check that banks issue and sign. How to Write a Money Order to Yourself. If the money order is not signed, the money order will likely nonetheless be honored because, unlike a check, the money order is considered to be a secure fund because it has already been paid for. If the payee loses the money order, you can use the tracking number to cancel the payment and replace the money order. The "payable to" field should be completed, and that person should sign. Your money order has a line that says “pay to the order of”. Posted 11/30/14 1:09 PM The payor is also referred to as the purchaser or the drawer. Simply fill in your own information as both the recipient and the purchaser. You may purchase money orders in person at your bank, or at any location that displays a MoneyGram money order sign. 5. Best disability insurance companies for dentists. Look for the section of the money order that asks for the purchaser or drawer’s information. Sending Money Orders . What is an irrevocable life insurance trust (ILIT)? Sign the money order. Sign the money order; Save your receipt! They are somewhat like a single-use bank checking account because the person who purchases the money order has control … Don't lose the money order: treat it just like cash. Fintech payment you deposit it with a purchaser sign order to fill out. If there is, it will be on the front of the money order, and it will be labeled as something like “Purchaser, Signer for Drawer,” “Purchaser’s signature,” or simply “Signature.” Your receipt for the money order is proof that you made the payment. I've done that before too, with lowes last yr. How to fill out a money order. 4  That means you may need to get multiple money orders, over multiple days, for a big payment. In addition to money orders, a remitter line is present on cashier's checks, teller checks and some traveler's checks. That’s why they’re popular for payments like a credit card bill or the deposit for an apartment. They can usually be purchased for a few dollars or less, however, when cashing a money order the payee does not typically pay a fee. Some may accept money orders with minor, uncorrected errors in the names or addresses. Amendments. Money orders are financial instruments issued by a bank or other institution that allow the person whose name appears on the money order to receive the value of the money order in cash on demand. For example, a person sending a payment in the mail who does not have checks may purchase a money order to make that payment. Sign the money order in a "Signature" or "Purchaser" field, if one is required. Thanks Allta When you complete a money order and give it to the payee, you are transferring a negotiable instrument. Your signature authorizes the financial institution to pay your money order funds to the payee. Banks keep records of money order purchases and allow purchasers to place stop payments on money orders that become lost or stolen. Look for the area on the money order that requires the payor’s signature. The worse thing that will happen is that they return the package to you and you can just sign the money order and re-send it. Your receipt for the money order is proof that you made the payment. The other big advantage with a money order is that you can send them even if you don’t have a bank account. You are the purchaser and so you should write your current mailing address. Other money orders have a portion of the original form that you can detach and keep. There are a couple of potential drawbacks to consider with money orders. You simply provide the bank with your name, the money order number and issue amount, and the bank places the hold on the item. I forgot to sign it and just remembered now and its on its way to its destination. You can also leave a memo on this line, or just leave it blank if you don’t need it. A money order is a printed certificate that’s written for a certain amount of money, much like a personal check. Pay to: You will need to print out the recipient’s full name.If it’s a business then use the business official name. Don’t write anything on the back. Do not sign the back of the document because this is where the recipient signs to endorse the money order. Answer: I can think of a number of reasons a purchaser might not sign a money order -- and some of those reasons are pretty innocent (such as wanting to make an anonymous gift/donation or just forgetting to sign it). Wire transfers are the fastest way to send funds and usually go though within a few hours. I have never filled out a money order before and I just moved to a new apartment and that is how I have to pay I have to get a money order then mail it. This is the name of the payee: the person or company receiving the payment. Western Union agents include supermarkets, convenience stores and check-cashing stores. They may also sell money orders to non-account holders who are willing to pay cash. Always use a pen when filling out money orders. Keep Your Receipt. This makes the money order official and cashable by the recipient. Had one who the purchaser order has yet to fill out. The fee varies but it’s usually about $2, which is actually lower than the cost of most alternatives. If each party gives consideration, each party is relying on the other. Step 3: Add a memo or account number. Write your signature on the front of the post money order where it says "signature," "purchaser, signer for drawer," or "purchaser's signature." Although money orders … See if the dollar value is too large. Thanks Allta This is where the person or business that you are paying endorses the money order … Firstly, he can take the money order back to the merchant it was purchased from. Is long-term disability insurance worth it? Unfortunately Put the recipient's name on the “pay to” or “pay to the order of” line. © 2020 Western Union Holdings, Inc. All Rights Reserved. Some money orders ask you to write (not sign) your name as well. These should be filled out at the time you purchase the money order. For what it is worth, the brief online research that I did suggests generally that when people send in unsigned money orders, the banks process them without any problem. Fill out your information where it says something like Purchaser, Sender or From. Unlike a check, you need to buy a money order — only certain places sell them — and you have to pay the amount of the money order up front. Before you send it off, be sure to sign the front of the money order. Money orders are a simple way to send payments, especially large payments where cash isn’t an option. Do you think UCIS could reject the N400 application because of this? There may or may not be a place for you to sign the money order. How long should my life insurance coverage last? However, some sellers may require the signatures of a purchaser as an assent to the conditions affecting the liability of the money order issuer. You pay the amount on the money order and a fee for the service. 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