Question: How do you fill out a money order? I bought one for a purchase online but am not sure what to do next.
Answer: Filling out a money order is similar to writing a check. The specifics depend on where you buy your money order, but these instructions should work with just about any money order.
As with any check you write, make sure the money order can’t be altered. Write in ALL CAPS and use pen when you fill out a money order.
The amount of your money order will be printed on the document (verify that the correct amount was printed on the money order before you leave).
Step 1: first, fill out who the money order goes to. Write the name of the company or person you wish to pay in a section that says "Pay to the order of" or "Payee." It’s important to do this as soon as possible -- otherwise anybody can get the money by entering their own name. Avoid making money orders payable to cash, as you risk losing the funds.
Step 2: depending on where you buy, you may need to provide information about yourself as you fill out a money order. If there’s space for "Purchaser" or "Address," your information goes in that space. This information may be optional -- just ask if you have questions. Your payee (the recipient) probably doesn’t care where you are as long as the funds are good.
Step 3: if you like, you can add additional details about your transaction to the money order.
Account numbers, reference numbers, order details, and notes can help ensure that your payee knows where the money came from. Add this information to the section marked "Re:" or "Memo." If there’s no space for additional information, just write it somewhere on the front of the document.
Step 4: some money orders require a signature, and some don’t.
Look for a section marked "Signature," "Purchaser," or "Drawer" with a line near it.
Now that you've filled out your money order completely, it’s ready to go. Hold on to any receipts, carbon copies, and other documents you got when purchasing the money order. You may need these if there’s a problem with your payment. They will allow you to cancel the money order if necessary, and they can be helpful when tracking or confirming the payment.
Why use Money Orders?
Money orders are (usually) a safe form of payment for sellers. Buyers must use a cash equivalent to buy the instrument, so it can't bounce like a personal check. However, money orders are sometimes faked and used in common online scams, so it's best to make sure they really clear before spending the money. If money orders are new to you, learn how they work (and how they don't) by reading the Basics of Money Orders.
While money orders are popular, there are a few drawbacks. Fortunately, there might be other ways to pay. For large purchases (which might require that you use several money orders -- and pay the corresponding fees), a cashier's check might serve your needs.
What's more, money orders are not a substitute for a bank account. Life is much easier if you have an account for storing spending money, plus you can write checks or use your debit card instead of going out for a money order every time you need to make a payment.
If you can't get a checking account for some reason, you might find that a prepaid card is a nice step in the right direction (but you should still work on getting a full-fledged bank account down the road).
Answer: Filling out a money order is similar to writing a check. The specifics depend on where you buy your money order, but these instructions should work with just about any money order.
As with any check you write, make sure the money order can’t be altered. Write in ALL CAPS and use pen when you fill out a money order.
The amount of your money order will be printed on the document (verify that the correct amount was printed on the money order before you leave).
Step 1: first, fill out who the money order goes to. Write the name of the company or person you wish to pay in a section that says "Pay to the order of" or "Payee." It’s important to do this as soon as possible -- otherwise anybody can get the money by entering their own name. Avoid making money orders payable to cash, as you risk losing the funds.
Step 2: depending on where you buy, you may need to provide information about yourself as you fill out a money order. If there’s space for "Purchaser" or "Address," your information goes in that space. This information may be optional -- just ask if you have questions. Your payee (the recipient) probably doesn’t care where you are as long as the funds are good.
Step 3: if you like, you can add additional details about your transaction to the money order.
Account numbers, reference numbers, order details, and notes can help ensure that your payee knows where the money came from. Add this information to the section marked "Re:" or "Memo." If there’s no space for additional information, just write it somewhere on the front of the document.
Step 4: some money orders require a signature, and some don’t.
Look for a section marked "Signature," "Purchaser," or "Drawer" with a line near it.
Now that you've filled out your money order completely, it’s ready to go. Hold on to any receipts, carbon copies, and other documents you got when purchasing the money order. You may need these if there’s a problem with your payment. They will allow you to cancel the money order if necessary, and they can be helpful when tracking or confirming the payment.
Why use Money Orders?
Money orders are (usually) a safe form of payment for sellers. Buyers must use a cash equivalent to buy the instrument, so it can't bounce like a personal check. However, money orders are sometimes faked and used in common online scams, so it's best to make sure they really clear before spending the money. If money orders are new to you, learn how they work (and how they don't) by reading the Basics of Money Orders.
While money orders are popular, there are a few drawbacks. Fortunately, there might be other ways to pay. For large purchases (which might require that you use several money orders -- and pay the corresponding fees), a cashier's check might serve your needs.
What's more, money orders are not a substitute for a bank account. Life is much easier if you have an account for storing spending money, plus you can write checks or use your debit card instead of going out for a money order every time you need to make a payment.
If you can't get a checking account for some reason, you might find that a prepaid card is a nice step in the right direction (but you should still work on getting a full-fledged bank account down the road).
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