If you’re paying a company with your money order, failing to include your account, order, or invoice number puts you at risk of the payment not being credited to your account.
It’s also best that you arrive knowing the proper name of the person or company you’ll make out the money order to, and your account number if you’re using it to pay a business. Though you can fill this out later, a blank money order that’s lost or stolen is as good as cash since anyone who finds it can write their name in.
Provides the security of a check written to an individual or company while being much more widely accepted
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.
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.
There are just three pieces of information you’ll have to provide to complete any money order: the recipient’s proper name, your address, and your name or signature.
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.)
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.
Can be made out only for $1,000 or less
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
MoneyGram money orders is what you would get from a Wal-Mart or a CVS.
Detach the stub as directed and keep for your records. You are done and can mail the money order as payment.
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).
The instructions are a very confusing legalese. Let’s get it all sorted out.
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.
˅˅˅ Additional valuable information is available at one of the links below: ˅˅˅
Address: is a confusing line. Fill out with YOUR ADDRESS. More information below.
This is a sample money order:
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.