Someone can fill out a money order and can use it as a substitute for cash, credit, or checks. Although it is more like a check, it is not a check. It can also be used to complete transactions anywhere in the world. It is especially useful to people who have no access to banks in their immediate environment and are in dire need of cash at that moment.
This form of payment can be used to pay bills, give gifts, and many more. Getting it is not difficult but it does require more patience and attention to detail. Filling out the form should be a careful process. As this is a one-off purchase and can affect you.
What do I need to fill out a money order?
Before you even pick out a form to fill out a money order, there are requirements. However, you need to know everything you would be required to bring to the location of the Western Union agent who will be responsible for the transfer.
Money orders are very similar to checks in the sense that, most of the information that should be filled out is the same. The difference between the both is that with a Money order you would need to pay the money beforehand with unlinked checks whereby the money is taken from your account.
With a Money order, you can send money immediately as well as receive it immediately. To fill out a money order form, you need:
- Receiver’s name.
- Your home addresses.
- The amount being paid (in dollars).
- Cash or a debit card (this is to pay for the money order).
- A purpose for sending (most agents may not require a reason but some will so have one just in case).
How to fill out a money order (step-by-step)
When the agent hands over the money order to you, it’ll look like this. Every important section will be clearly labeled so as for you to know where you need to fill in the information. Here’s how to fill out your money order.
After you’ve received the money order form, you would be required to fill it in. Every important section is labeled so you know exactly where to fill in the required information. Here are the steps:
1. Write the name of the receiver
You would see a fuel saying “PAY TO THE ORDER OF”. In this section ensure the receiver’s name is spelled out correctly. There should be no mistakes as changes cannot be made once the money order has been processed.
The receiver should be able to cash it in immediately after you send it. This is if the details you input are correct, if they happen to be incorrect delays will occur which in turn will lead to late payments.
2. Fill out your details in the purchaser section
Whether it says “From,” “Sender,” “Remitter,” or “Purchaser,” that is where you ought to enter your details.
Write your full legal name and your current mailing address in this section. Sometimes they may also require your address but most will only request your full name.
3. Sign on the front side of the money order
Do not sign at the back of the money order form, sign at the front. The back is for the person you are sending the money to.
If you wish to you can leave a note or a small message. Not all money order forms offer this but some do.
After you’ve checked the money order form for mistakes and see that there are none, send the money to the receiver the way you would a check.
If you happen to be sending the money order by mail, try to buy a tracking number so it doesn’t get lost in transit.
4. Keep the receipt of the money order
This will help you track the money order. Unlike checks money, the order is more difficult to track down so it would be a good idea for you to keep your receipts just in case. It not only provides proof of purchase but also tracking info.
If you feel your money order has gone missing, been misplaced, or stolen, report the case to the provider. You will not be able to take this action without your receipt, so try as much as possible to keep it safe. At least until the receiver has gotten the cash at hand.
Where can I get/purchase a money order?
Unfortunately, money orders are not available online. To get it you would need to visit any of the available western Union agent centers. Here you will buy the form in person from an agent who is more than happy to help you fill it out correctly.
Do I need a bank account to use the money order?
No, you do not. One of the best parts of this method of payment is that anybody can use it and you do not require a credit card to send or receive the money.
Can I use a credit card to purchase a money order?
No, you cannot use a credit card to purchase a money order. But you can use a debit card or a traveler’s check.
Do I need cash to pay?
No, you do not need cash to pay but it can be used as a form of payment. Along with a debit card or a traveler’s check.
Are there fees attached to using a money order?
Fees are involved in the payment of money orders. The smallest amount starts at 10% although it depends on how much you are sending. The higher the amount the smaller the percentage.
Does money order have limits?
The limit to sending one money order form is $1000. If you intend to send more than that you will be required to purchase another money order form.