However, there are a few third-party check-cashing agencies that will cash the money order without requiring identification. Do not sign on the line on the back of the money order. After checking it over for accuracy, you can send the money order as you would a check. The money order may not be valid if it is not signed. In order to cash a money order or deposit it into your bank account, you will need to endorse the back of the document. Sign the money order at the counter in front of a retail associate. Reviewed by: Alicia Bodine, Certified Ramsey Solutions Master Financial Coach. Money order scams usually target online sellers of merchandise or services, but buyers can fall victim as well. Endorse your money order. Do not sign the back of the money order. There are no fields for the purchaser to sign on the back of the money order. Do not sign the money order. Sign the Money Order Sign the back of the money order on the line provided with a pen. Sign the money order in a "Signature" or "Purchaser" field, if one is required. 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. Not all money orders require the sender's signature, however. 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. 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. 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. 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. 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. N.p., n.d. The recipient of the money order needs to sign it. See additional requirements for money orders made out to organizations, more than one person, and minors. A money order is a secure form of payment you can use in place of checks, cash or credit cards. They can’t bounce like a check so it’s much safer to receive a money order as payment. This is where the person or business that you are paying endorses the money order before they cash it. Keep your receipt. 03 Oct. 2012. 5. 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. Sign the front of the money order in the portion labeled for your signature. Step 5. 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. There are several ways for the purchaser to cash the money order. 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. 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. Don’t sign the back. The one whose name appears on the front of the money order will … Store your receipt in a safe place, in case there’s a … Do You Sign the Back of a Money Order? “Getting Started Guide.” Wells Fargo. The one whose name appears on the front of the money order will sign on the back when they go to cash ot. When cashing in person, you’ll need a valid form of identification, such as a driver’s license or passport. This can, in theory, protect you. You would not sign the back of the cheque that you are giving to someone. “How to Deposit a Money Order.” BankingQuestions.com . Money orders offer a safe alternative form of payment to a regular check. This will appear on the front of the money order. 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. 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. You would not sign the back of the cheque that you are giving to someone. Like the other major issuers, banks recommend that you do not make changes to money orders on your own. Western Union: How to Fill Out a Money Order. 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 and send to the receiver. Sign the Front of the Money Order. N.p., n.d. For instance, the individual may purchase the money order, only to discover that he no longer needs it. For more about depositing money orders, see below. Web. You’re just protecting your accounts and identity from crummy collectors while you do it. Avoiding Money Order Scams. 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. 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. Do not sign the back of the document because this is where the recipient signs to endorse the money order. The important thing is, you’re still paying what you owe. 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. Her dossier includes JaZaMM WebDesigns, assistant high-school band director, district manager for the Clarion Ledger and event coordinator for the Vicksburg Convention Center. Sign the bottom where it says ‘purchaser’s signature’ Your signature is important here, because it makes the money order official. If you don’t need the money right away and you have a bank account, consider depositing it. Do not sign the back of the money order. 03 Oct. 2012. Before the wire transfer recipient can receive the wire transfer funds, he must sign the printed money order. When cashing a money order through a third-party check-cashing agency, an individual will often be charged a cashing fee. Do not sign the back of the order, that space is reserved for the person endorsing the money order, the recipient of the payment. Banks accept U.S. 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. Cashing a Money Order at the Post Office . Take a primary photo ID with the money order to any Post Office location. When the money order recipient receives the money order, he is required to sign the back. 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. You can take the money order to your bank, credit union, grocery store, and some retail stores. 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. There are two places to record names on our money orders. This is where the person or business that you are paying endorses the money order before they cash it. Other fields that must be completed include the purchaser's name and address. You can also use a money order to open a new bank account. The purchaser can present his receipt for the money order and request a refund. When a money order is purchased, the purchaser should complete the "payable to" field. Keep your receipt. This is done by the recipient in the same fashion as is done with a personal check. 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. 4. That area is for the person who receives it. Correction policies for bank-issued money orders are generally consistent across most banks. 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. 4 Many institutions require that you sign it in front of the teller. Web. When the money order recipient receives the money order, he is required to sign the back.
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