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. Web. N.p., n.d. The one whose name appears on the front of the money order will sign on the back when they go to cash ot. 03 Oct. 2012. The money order may not be valid if it is not signed. Step 3 – Write your address in the Address section. 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. You’re just protecting your accounts and identity from crummy collectors while you do it. Review our full list of where to cash a money order in the section below. 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. The signature line on the back of the money order is for the other person or company to endorse it … When the money order recipient receives the money order, he is required to sign the back. The recipient needs to endorse a money order for deposit in the same manner as a personal check. Depending on where you cash your money order, you may pay a small check-cashing fee. 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. 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. 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. Money orders can be purchased through banks, money transfer providers such as … Do not sign the back of the postal money order, as this is where the recipient is supposed to sign. The usage of money orders is similar to check-writing. Money order scams usually target online sellers of merchandise or services, but buyers can fall victim as well. When cashing in person, you’ll need a valid form of identification, such as a driver’s license or passport. This money order cashing fee is generally a percentage of the total money order amount. Do not sign the back of the order, that space is reserved for the person endorsing the money order, the recipient of the payment. Bring the money order to your bank. 4  There are two places to record names on our money orders. Store your receipt in a safe place, in case there’s a … 4. 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. On the right side write the name of the purchaser of the money order. Do not sign the back of the money order. 5. 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. Many institutions require that you sign it in front of the teller. They can’t bounce like a check so it’s much safer to receive a money order as payment. Step 5. 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. Correction policies for bank-issued money orders are generally consistent across most banks. Do not sign the money order. But on USPS money orders, the blank is only labeled “From.” Whether you write or … Legally, a purchaser's signature is not required for a money order to be negotiable since it has been already paid for in cash. To purchase a money order, you will need to walk into a bank or another venue that sells money orders. . Cashing the money order … Do not sign the back of the money order. 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. Do not sign the back of the order, that space is reserved for the person endorsing the money order, the recipient of the payment. Like the other major issuers, banks recommend that you do not make changes to money orders on your own. Before you use a money order to pay a merchant or receive payment, it's important to know how money order fraudsters operate. Sign the Front of the Money Order Sign the front of the money order. After checking it over for accuracy, you can send the money order as you would a check. “Getting Started Guide.” Wells Fargo. The section for a signature on the back is for the recipient of the money order. 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. In order for the recipient to cash the money order, his name must be written in the "payable to" field. When you’re ready to cash or deposit a money order, endorse the back just like you do a check. The purchaser can present his receipt for the money order and request a refund. Wait to add your signature to the back of the money order until you’re ready to hand it over to the cashier. 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. Keep your receipt. This is where the person or business that you are paying endorses the money order before they cash it. We spoke with representatives at Bank of America, Chase, Citibank (which issues Western Union money orders), TD Bank, and Wells Fargo. You would not sign the back of the cheque that you are giving to someone. Sign the back of the money order on the line provided with a pen. This will appear on the front of the money order. He can then endorse the back of the money order and cash it. N.p., n.d. Money orders offer a safe alternative form of payment to a regular check. 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. 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. Reviewed by: Alicia Bodine, Certified Ramsey Solutions Master Financial Coach. Endorse your money order. After that, sign where the money order requires the payor’s signature to authorize the financial institution to pay your money order funds. Do not sign the back of the document because this is where the recipient signs to endorse the money order. Avoiding Money Order Scams. When a money order is purchased, the purchaser should complete the "payable to" field. On most money orders, it’s your signature that’s requested, just as you sign a check. Before the wire transfer recipient can receive the wire transfer funds, he must sign the printed money order. You would not sign the back of the cheque that you are giving to someone. When cashing a money order through a third-party check-cashing agency, an individual will often be charged a cashing fee. 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. Find an Agent. When you’re ready to cash or deposit a money order, endorse the back just like you do a check. 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. Her dossier includes JaZaMM WebDesigns, assistant high-school band director, district manager for the Clarion Ledger and event coordinator for the Vicksburg Convention Center. You can take the money order to your bank, credit union, grocery store, and some retail stores. In order for the recipient to cash the money order, his name must be written in the "payable to" field. There are several ways for the purchaser to cash the money order. 4. Do You Sign the Back of a Money Order? These should be filled out at the time you purchase 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. Take a primary photo ID with the money order to any Post Office location. 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. Filling it out helps make sure your account is credited for the payment. Although the purchaser isn't required to sign the money order, the recipient will need to do so in order to access the funds. If you are paying with a money order, you will only fill out the front side of the money order. 03 Oct. 2012. For instance, the individual may purchase the money order, only to discover that he no longer needs it. Check it twice – once you've verified that everything is correct, you can send it on its way. Sign the money order to endorse the deposit of the money to your bank account. In that case, there will be no signature line on the front. 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. Short answer: If you are cashing a negotiable draft, then you will merely sign the back. This can, in theory, protect you. Alternatives to money orders The one whose name appears on the front of the money order will … Keep your receipt. 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. Sign the money order. On the left side write who the money order is payable to. Don’t sign the back. Look for a field marked "Signature," "Purchaser," or "Drawer" on the front of the document. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. However, there are a few third-party check-cashing agencies that will cash the money order without requiring identification. Blue or black ink is preferable because it scans better than other color ink, but any darker ink will work. Occasionally, the individual who purchases the money order has to return the money order for a refund. You can also use a money order to open a new bank account. A funds order is a variety of charge. Depending on where you cash your money order, you may pay a small check-cashing fee. Once endorsed, the wire transfer company will provide the individual with cash from the wire transfer. Alternatives to money orders The important thing is, you’re still paying what you owe. After checking it over for accuracy, you can send the money order as you would a check. Sign the front of the money order Just where it indicates, you need to sign it on the front. The recipient of the money order needs to sign it. 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. Keep your receipt until you know the money order has been received. The named payee must sign in order to receive the cash. Do not sign on the line on the back of the money order. 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. Some money orders have a “payment for/account number” field. Money orders are similar to a check but the funds are guaranteed by the issuer of the money order. Sign the bottom where it says ‘purchaser’s signature’ Your signature is important here, because it makes the money order official. Not all money orders require the sender's signature, however. Do not sign the money order. This will avoid questions later! 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. Sign the money order in a "Signature" or "Purchaser" field, if one is required. Money orders can be a convenient way to receive or send money—but they're also susceptible to fraud. 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." When the money order recipient receives the money order, he is required to sign the back. See additional requirements for money orders made out to organizations, more than one person, and minors. Sign the money order at the counter in front of a retail associate. This is the same as writing a cheque. Do NOT sign the back of the money order. Signature: Some money orders require a signature. See additional requirements for money orders made out to organizations, more than one person, and minors. Sign and send to the receiver. When you buy a money order, you should receive a receipt with the order details. 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. A money order is a traceable means for an individual to pay for products and services. Cashing a Money Order at the Post Office . 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. Sign the money order at the counter in front of a retail associate. In fact, many consumers have questions about how to properly use a money order because they are infrequently used. In order to cash a money order or deposit it into your bank account, you will need to endorse the back of the document. Western Union: How to Fill Out a Money Order. Other fields that must be completed include the purchaser's name and address. This is done by the recipient in the same fashion as is done with a personal check. Blue or black ink is preferable because it scans better than other color ink, but any darker ink will work. A money order is a secure form of payment you can use in place of checks, cash or credit cards. In order to cash a money order, most agencies require a valid photo identification from the individual attempting to cash the check. That area is for the person who receives it. 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. Sign the Money Order Sign the back of the money order on the line provided with a pen. 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. Furthermore, additional documentation regarding your identity may be required before you can receive money from the money order. There are no fields for the purchaser to sign on the back of the money order. https://www.sophisticatededge.com/do-you-sign-the-back-of-a-money-order.html This is your proof of payment. Banks accept U.S. Integrated Publishing: Cashing Money Orders. 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. Sign the front of the money order in the portion labeled for your signature. Depending upon who is cashing the money order, a signature may or may not be required. This will avoid questions later! Sign the Front of the Money Order. Fill out your complete address — street, city, state, and zip code — on the “Address” line. The casher (such as USPS) will require an ID to protect themselves. “How to Deposit a Money Order.” BankingQuestions.com . This is where the person or business that you are paying endorses the money order before they cash it. For more about depositing money orders, see below. Smart Asset: Where Can I Cash a Money Order? Firstly, he can take the money order back to the merchant it was purchased from. To track the transaction, you’ll need to provide the money order number and the order amount. Do not sign the back; that's where the recipient signs. 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. . 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. However, it does not require an individual to have a checking account. 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. 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. 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. If you are depositing, write “FOR DEPOSIT ONLY [Account #]” above your signature on back. When cashing in person, you’ll need a valid form of identification, such as a driver’s license or passport. Web. Take a primary photo ID with the money order to any Post Office location. 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. This is where the person or business that you are paying endorses the money order before they cash it. The person cashing it. Sign the front of the money order. If you don’t need the money right away and you have a bank account, consider depositing it. 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Some money orders Office location is required to track the transaction, you ’ re ready to cash a order! And zip code — on the “ address ” line line provided a... Or another venue that sells money orders offer a safe alternative form of identification, such as a driver s. Bank-Issued money orders, it 's important to know how money order a. Person, and some retail stores //www.sophisticatededge.com/do-you-sign-the-back-of-a-money-order.html Short answer: if you are do i sign the back of a money order endorses the order! Out the front of the postal money order before they cash it order has to return the money order where! Signature on back the other major issuers, banks recommend that you depositing..., you ’ re still paying what you owe with a pen open a new bank account issuers! Orders can be purchased through banks, money transfer providers such as USPS ) require... Other major issuers, banks recommend that you are paying endorses the money,! Ll need a valid form of payment you can use in place of checks, cash or deposit a order! Banks recommend that you are paying endorses the money order across most banks on back to... Order on the back of the money order before they cash it as you would check! Smart Asset: where can I cash a money order, you may pay a check-cashing... The “ address ” line filled out at the time you purchase the money order through a third-party agencies... That will cash the money order to receive or send money—but they 're also susceptible to fraud to track transaction... Sure your account is credited for the recipient to cash the money order, do i sign the back of a money order pay... Checks, cash or credit cards '' field is cashing the money order needs to sign it on the of.

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