On the flip side, if you put the wrong name on it, the recipient can have trouble cashing it. So it’s smart to take care in entering the correct name on the money order right at the counter when you buy it.
Provides the security of a check written to an individual or company while being much more widely accepted
Once you’ve filled in all the fields you want to complete, be sure to detach the receipt that comes with all brands of money order. This stub provides the money order’s official identification number, which you can use later to track whether the money order was cashed. It can also aid your record keeping.
Almost all money order purchases involve a fee, so it’s smart to shop around. Walmart charges under $1 per money order, and the USPS less than $2. Prices at banks, credit unions, and other sellers can be significantly higher. On the other hand, some banks offer them free to certain categories of their customers. So we recommend calling ahead.
Requires visiting a seller, whether a major retailer, grocer, convenience store, bank, credit union or post office
Certified and cashier’s checks issued by financial institutions offer even more security than money orders. However, they carry much higher fees and require visiting a bank during banking hours. So if a money order works, it’s an easier and less expensive option.
You’ll need to know the exact dollar amount you want. This amount will be machine-printed directly on the money order, and you won’t be able to alter it later. Also be forewarned that the largest money order you can buy is $1,000. So if you’re making a payment larger than that, be prepared to purchase multiple money orders.
One optional field on most money orders can be quite useful. On Western Union money orders it is called “Payment for/Acct.#,” and on USPS money orders, it’s simply “Memo.” Here’s where you can write in an account number if your money order will pay a bill. Or you could simply use the space for an optional note to your recipient — just like the memo field on a check. (Curiously, MoneyGrams do not provide a designated memo space.)
Fortunately, more than 200,000 U.S. locations sell money orders, many with evening and weekend hours. You can buy one at any Walmart, CVS, or 7-Eleven, as well as at over 30,000 U.S. post offices. Banks, credit unions, grocery and convenience store chains, and check-cashing stores sell money orders, too.
Money orders are safe and easy to buy or cash at more than 200,000 U.S. banks, credit unions, post offices, retailers, grocers and convenience stores
The instructions are a very confusing legalese. Let’s get it all sorted out.
Update: In response to Roseann’s comment, I have called MoneyGram myself. Company rep said to put name of person or business on the top line, your signature on the middle name, and YOUR address on the bottom line. Address (according to company rep) is not optional, and signifies the name and address of whoever bought the money order (you).
This is a sample money order:
˅˅˅ Additional valuable information is available at one of the links below: ˅˅˅
Purchaser, Signer for drawer: Sign here yourself. For security, you can sign the money order as soon as you purchase it. In case you lose a blank money order (not filled anywhere), anyone can pick it up and fill it out in their name and to whomever they wish. So it is recommended that you fill out the “pay to the order of” and “purchaser” lines as soon as you purchase a large money order.
Pay to the order of: Name of person or name of business to whom your are sending the payment
Address: is a confusing line. Fill out with YOUR ADDRESS. More information below.
Detach the stub as directed and keep for your records. You are done and can mail the money order as payment.
Several confusing terms:
How to fill out a MoneyGram money order – language on the money order and instructions are very confusing. This information has been verified to be correct with a call to a MoneyGram representative.