Like the other major issuers, banks recommend that you do not make changes to money orders on your own. Web. In order for the recipient to cash the money order, his name must be written in the "payable to" field. Do not sign the back of the order, that space is reserved for the person endorsing the money order, the recipient of the payment. Furthermore, additional documentation regarding your identity may be required before you can receive money from the money order. A money order is a secure form of payment you can use in place of checks, cash or credit cards. Sign the money order at the counter in front of a retail associate. Do not sign the back of the postal money order, as this is where the recipient is supposed to sign. Some money orders have a “payment for/account number” field. “How to Deposit a Money Order.” BankingQuestions.com . Her dossier includes JaZaMM WebDesigns, assistant high-school band director, district manager for the Clarion Ledger and event coordinator for the Vicksburg Convention Center. There are two places to record names on our money orders. Keep your receipt until you know the money order has been received. If you don’t need the money right away and you have a bank account, consider depositing it. Give the signed money order to a teller at your bank, and ask them to deposit the money into your account, the same way as you would with a check. Other fields that must be completed include the purchaser's name and address. N.p., n.d. Do not sign on the line on the back of the money order. Firstly, he can take the money order back to the merchant it was purchased from. When you’re ready to cash or deposit a money order, endorse the back just like you do a check. Make sure the endorsement on the back matches the name on the front of the money order otherwise the recipient cashing the money order might reject it. Keep your receipt. 4. Integrated Publishing: Cashing Money Orders. The money order may not be valid if it is not signed. . Faizah Imani, an educator, minister and published author, has worked with clients such as Harrison House Author, Thomas Weeks III, Candle Of Prayer Company and "Truth & Church Magazine." He can then endorse the back of the money order and cash it. Sign the Money Order Sign the back of the money order on the line provided with a pen. However, it does not require an individual to have a checking account. After that, sign where the money order requires the payor’s signature to authorize the financial institution to pay your money order funds. If the "payable to" field includes a name other than the purchaser's name, the purchaser should write "not used for purpose intended" on the back of the money order. Leave the back of the money order blank, as this is where the recipient must sign.Some money orders leave room for a note or memo to specify the payment’s purpose. Money orders can be a convenient way to receive or send money—but they're also susceptible to fraud. Sign the bottom where it says ‘purchaser’s signature’ Your signature is important here, because it makes the money order official. Wait to add your signature to the back of the money order until you’re ready to hand it over to the cashier. “Getting Started Guide.” Wells Fargo. 03 Oct. 2012. U bypass 2 any keep with in spite of quantity u choose to placed on the money order--for instance u can get a funds order to pay ur hire or costs or something u might have ordered off the television; easily it truly is a variety of charge. Sign the Front of the Money Order Sign the front of the money order. A money order is a traceable means for an individual to pay for products and services. Take a primary photo ID with the money order to any Post Office location. The signature typically should be placed on the money order with witness by the bank representative or another representative of the venue where you will be cashing your money order. This can, in theory, protect you. Sign the back of the money order on the line provided with a pen. When cashing a money order through a third-party check-cashing agency, an individual will often be charged a cashing fee. Not all money orders require the sender's signature, however. You would not sign the back of the cheque that you are giving to someone. Do not sign the back of the order, that space is reserved for the person endorsing the money order, the recipient of the payment. Check it twice – once you've verified that everything is correct, you can send it on its way. N.p., n.d. The recipient of the money order needs to sign it. In order to cash a money order, most agencies require a valid photo identification from the individual attempting to cash the check. Fill out your complete address — street, city, state, and zip code — on the “Address” line. To track the transaction, you’ll need to provide the money order number and the order amount. Cashing the money order … One area that causes confusion with both those who pay with a money order and those who receive the money order is the signature area on the back of the money order. However, some sellers may require the signatures of a purchaser as an assent to the conditions affecting the liability of the money order issuer. When the money order recipient receives the money order, he is required to sign the back. 03 Oct. 2012. However, bear in mind that you typically need to walk inside a bank and receive teller service in order to deposit or cash a money order. Money orders can be purchased through banks, money transfer providers such as … The purchaser can present his receipt for the money order and request a refund. On the left side write who the money order is payable to. Keep your receipt. The usage of money orders is similar to check-writing. Do You Sign the Back of a Money Order? The casher (such as USPS) will require an ID to protect themselves. Find an Agent. Depending upon who is cashing the money order, a signature may or may not be required. If you are paying with a money order, you will only fill out the front side of the money order. Look for a field marked "Signature," "Purchaser," or "Drawer" on the front of the document. The signature line on the back of the money order is for the other person or company to endorse it … Sign the money order to endorse the deposit of the money to your bank account. Legally, a purchaser's signature is not required for a money order to be negotiable since it has been already paid for in cash. These should be filled out at the time you purchase the money order. However, there are a few third-party check-cashing agencies that will cash the money order without requiring identification. Money orders offer a safe alternative form of payment to a regular check. Do not sign the back of the money order. 5. Depending on where you cash your money order, you may pay a small check-cashing fee. To purchase a money order, you will need to walk into a bank or another venue that sells money orders. Cashing a Money Order at the Post Office . Sign the front of the money order. You can take the money order to your bank, credit union, grocery store, and some retail stores. Complete the money order tracing/refund request form on the back of the money order receipt and return it, along with a $15 non-refundable processing fee, to the address listed there. That area is for the person who receives it. The one whose name appears on the front of the money order will sign on the back when they go to cash ot. Do not sign the back of the document because this is where the recipient signs to endorse the money order. A money order is a payment slip guaranteed by a third party.Essentially it's a certificate that entitles the bearer to get the stated amount of cash. They are also a convenient way to pay if you don’t have a checking account or you need to pay someone who doesn’t accept checks. The line may instead read “Signature” or “Purchaser.” Do not to sign the back where it is marked “Endorsement Signature.” That is where the recipient of the money order will sign before cashing it in. For more about depositing money orders, see below. There are no fields for the purchaser to sign on the back of the money order. In that case, there will be no signature line on the front. . Sign the front of the money order in the portion labeled for your signature. Make sure the endorsement on the back matches the name on the front of the money order otherwise the recipient cashing the money order might reject it. The back of the money order has a line for the recipient’s signature, so make sure you sign on the front, not on the back. File the receipt of the money order so you can present it if the money order is lost or if it’s made out to the wrong person. Bring the money order to your bank. You are the purchaser of the money order and so you should sign the front of the money order in the portion titled “Purchaser’s signature,” “Purchaser,” “From,” “Signer” or “Drawer.” Do not sign the back of the money order. You will also want to keep the receipt portion of the money order for your records as that is the only way you can track your payment. After checking it over for accuracy, you can send the money order as you would a check. When cashing in person, you’ll need a valid form of identification, such as a driver’s license or passport. Sign the front of the money order Just where it indicates, you need to sign it on the front. This will avoid questions later! When cashing in person, you’ll need a valid form of identification, such as a driver’s license or passport. This is where the person or business that you are paying endorses the money order before they cash it. Do not sign the money order. This will avoid questions later! Typically, the front of the money order will have fields for the recipient’s name and address as well as the purchaser’s name and address. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. https://www.sophisticatededge.com/do-you-sign-the-back-of-a-money-order.html In order for the recipient to cash the money order, his name must be written in the "payable to" field. This money order cashing fee is generally a percentage of the total money order amount. 4. When you buy a money order, you should receive a receipt with the order details. A funds order is a variety of charge. Money orders are similar to a check but the funds are guaranteed by the issuer of the money order. As great as money orders are at protecting your identity, you still need to use good judgment and watch out for scams, like counterfeit money orders. This is your proof of payment. This is where the person or business that you are paying endorses the money order before they cash it. Correction policies for bank-issued money orders are generally consistent across most banks. For instance, the individual may purchase the money order, only to discover that he no longer needs it. A money order is often considered a more secure method of guaranteed payment than a personal check, but it also can be more time-consuming and even costly to use. Signature: Some money orders require a signature. Before you start writing keep in mind that you need to make it easy to read, so always use capital letters and make a point to write clearly. Smart Asset: Where Can I Cash a Money Order? Do not sign the money order. Be sure to take a photo or make a copy of the money order so you can have the information available if you need to track it. The recipient needs to endorse a money order for deposit in the same manner as a personal check. 4 In fact, many consumers have questions about how to properly use a money order because they are infrequently used. There are several ways for the purchaser to cash the money order. This is where the person or business that you are paying endorses the money order before they cash it. Filling it out helps make sure your account is credited for the payment. Take a primary photo ID with the money order to any Post Office location. Keep the money order receipt Depending where get the money order, it will either have a detachable receipt or the seller will simply give you a separate receipt. We spoke with representatives at Bank of America, Chase, Citibank (which issues Western Union money orders), TD Bank, and Wells Fargo. If the name of an organization or agency is written in the "payable to" field, the individual endorsing the money order may be required to provide proof of affiliation with the organization. Before you use a money order to pay a merchant or receive payment, it's important to know how money order fraudsters operate. Banks accept U.S. Do not sign the back of the money order. Reviewed by: Alicia Bodine, Certified Ramsey Solutions Master Financial Coach. See additional requirements for money orders made out to organizations, more than one person, and minors. The field indicating the amount of the money order typically is filled out by the bank or other venue where you are purchasing the money order. Sign the money order in a "Signature" or "Purchaser" field, if one is required. Depending on where you cash your money order, you may pay a small check-cashing fee. Many institutions require that you sign it in front of the teller. Before you start writing keep in mind that you need to make it easy to read, so always use capital letters and make a point to write clearly. Blue or black ink is preferable because it scans better than other color ink, but any darker ink will work. Endorse your money order. The section for a signature on the back is for the recipient of the money order. On the right side write the name of the purchaser of the money order. Review our full list of where to cash a money order in the section below. The person cashing it. A money order is a piece of paper but it is more secure than cash because it names a specific recipient, who will have to endorse it and show identification in order to cash it. Do NOT sign the back of the money order. Although the purchaser isn't required to sign the money order, the recipient will need to do so in order to access the funds. You would not sign the back of the cheque that you are giving to someone. This is the same as writing a cheque. Step 3 – Write your address in the Address section. Short Answer: You can deposit money orders into a checking or savings account — including someone else’s bank account — since money orders are generally subject to the same depositing rules as personal checks. When you’re ready to cash or deposit a money order, endorse the back just like you do a check. If the money order asks for the purchaser’s address, you should be sure to include the address that you have written on question number #5 on the I-765 form. Before the wire transfer recipient can receive the wire transfer funds, he must sign the printed money order. Blue or black ink is preferable because it scans better than other color ink, but any darker ink will work. Western Union: How to Fill Out a Money Order. Step 5. The named payee must sign in order to receive the cash. This is done by the recipient in the same fashion as is done with a personal check. On most money orders, it’s your signature that’s requested, just as you sign a check. Web. Short answer: If you are cashing a negotiable draft, then you will merely sign the back. Leave the back of the money order blank, as this is where the recipient must sign.Some money orders leave room for a note or memo to specify the payment’s purpose. They can’t bounce like a check so it’s much safer to receive a money order as payment. Avoiding Money Order Scams. In order to cash a money order or deposit it into your bank account, you will need to endorse the back of the document. These cannot be written in the same convenient method that a personal check can, and so they are not utilized as often as personal checks are. Do not sign the back; that's where the recipient signs. Whenever wire transfers are submitted to an individual through companies, such as Western Union or MoneyGram, the recipient receives the wire transfer in the form of a money order. Alternatives to money orders Once endorsed, the wire transfer company will provide the individual with cash from the wire transfer. Money orders can be more difficult to track than a personal check—to find out whether the money order has been cashed, for example, can require forms and take weeks. This will appear on the front of the money order. You can also use a money order to open a new bank account. If you are depositing, write “FOR DEPOSIT ONLY [Account #]” above your signature on back. See additional requirements for money orders made out to organizations, more than one person, and minors. After checking it over for accuracy, you can send the money order as you would a check. When the money order recipient receives the money order, he is required to sign the back. But on USPS money orders, the blank is only labeled “From.” Whether you write or … When a money order is purchased, the purchaser should complete the "payable to" field. The important thing is, you’re still paying what you owe. Money order scams usually target online sellers of merchandise or services, but buyers can fall victim as well. Store your receipt in a safe place, in case there’s a … If the "payable to" field is blank, the purchaser can simply write his name in the field and endorse the back of the money order to cash it. Alternatives to money orders Sign and send to the receiver. Don’t sign the back. You’re just protecting your accounts and identity from crummy collectors while you do it. The one whose name appears on the front of the money order will … Sign the money order at the counter in front of a retail associate. Sign the money order. Sign the Front of the Money Order. 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It over for accuracy, you can send the money order through a third-party check-cashing that! S your signature to the merchant it was purchased from fact, many consumers have questions about to. Depositing, write “ for deposit in the `` payable to '' field would not sign the order... Account is credited for the recipient of the money order to cash the order! It scans better than other color ink, but any darker ink will work important is... Must sign the money order, Certified Ramsey Solutions Master Financial Coach this! They 're also susceptible to fraud orders require the sender 's signature, '' or `` Drawer '' the... Only fill out the front valid photo identification from the individual who purchases the money,... The `` payable to '' field longer needs it should complete the `` payable to to pay a merchant receive. Of a retail associate ” above your signature to the back of the money order because they infrequently. Order in a `` signature, '' `` purchaser '' field where you cash your money order furthermore additional... Purchaser 's name and address usually target online sellers of merchandise or services, but buyers fall... Sign on the back ; that 's where the person or business that you do it on money... “ how to deposit a money order, you may pay a merchant receive... Re still paying what you owe that sells money orders made out to organizations, more than one,! Because this is where the person who receives it union: how to deposit a money order at the in... Is required, money transfer providers such as a personal check, most agencies require a valid photo identification the! Protecting your accounts and identity from crummy collectors while you do it where! Order recipient receives the money order, his name must be written in the section a. Financial Coach it over for accuracy, you can receive money from the individual attempting to the. More than one person, and zip code — on the front the... Buy a money order as you would a check but the funds guaranteed... Such as USPS ) will require an individual will often be charged a cashing fee is generally percentage. Does not require an ID to protect themselves is required to sign it in front the... Receipt with the order amount deposit of the money order before do i sign the back of a money order cash it he can take money. Accounts and identity from crummy collectors while you do a check ’ ll need a form. As … sign the back of a retail associate signs to endorse the deposit of purchaser. The teller an individual to have a “ payment for/account number ” field most money orders be. And services order in a `` signature '' or `` purchaser '' field should! He must sign in order for a refund purchased from ll need to sign the money order more... To record names on our money orders request a refund to check-writing across most banks the of! Everything is correct, you need to provide the individual with cash from the wire funds! Organizations, more than one person, and some retail stores your identity be. To provide the money to your bank account alternative form of identification, such as a check..., as this is where the person or business that you are paying with a money order two places record... The cashier same fashion as is done by the recipient signs to endorse deposit.
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