Nowadays, money order is not that common or in trend but it is one of the peaceful methods of dealing with money. There are many sorts of payment method out there like debit cards, checks, in cash etc. A money order is a type of payment system where you can give out money to the individuals in a secure manner. Just like you input data on a check, here you put information on the paper. You have to mention who will be the receiver and the signature of the receiver is required. The price varies depending on the seller but is can be from a dollar to a few dollars. Other forms of sending money can be expensive particularly when you send abroad. You can buy them from bank, post office credit unions and currencies locations like MoneyGram and Western Union. There is no expiration date for a money order and you can always find it if you lose it or someone steals it. Here is how you fill out a money order
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Step 1: Start by writing the details of the receiver. There is a part where is says who the money will go to. Write down the name of the person and if it is a corporation, write that down. Do not leave the space blank or else anyone can write any other name and steal the money. Use a pen and not a pencil and make sure you are using capital letters. The part says “Pay to”
Step 2: You should provide information about yourself since you are sending the money. It is going to be on the right-hand side of the money order. You have to write down your address so that if they do not find the receiver, they will mail it back to you. The address is not for the receiver. It is for the one delivering because they will send it back if there is nobody to get the funds
Step 3: If there are other information you need to put, write them down. If there is no space and it is a small paper, write on top or below the paper. There is a place for signature, so sign there. It should be ready to go by now. You will receive a photocopy, receipt and some other papers for sending it. Since it will bounce like a cash make sure the information is real.
Tip
· Know your amount, if it is a big amount you will require multiple money orders and pay fees for each of them separately. This can be a hassle for you.
· Money order is not a substitute to bank accounts and every time you send money you have to purchase a money order. It is not a quick or easy method.
· Fill out the information correctly and use your original signature. Do not make the mistake of making a fake money order or buy a fake money order from online.
