How to Buy a Money Order?
- Determine the Amount: First, decide on the amount of cash you want to send through the money order. It is the total sum that the recipient will get.
- Choose a Location: Visit a location that gives money-order services. It could be a post office, bank, credit union, or certain retail stores like Walmart.
- Payment: Provide the necessary cash or use a debit card to pay for the money order amount along with any associated fees. Typically, these fees are relatively low, often less than $15.
- Fill Out the Money Order: Complete the money order by providing the required information, like the recipient’s name and address (the person or business you’re paying), your name and address as the purchaser, or any relevant notes or account numbers in the memo field.
- Sign the Money Order: Once you’ve filled out all the necessary information, sign the front of the money order to finalize the transaction.
- Keep the Receipt: After completing the transaction, you will receive a receipt containing a tracking number. Hold onto this receipt, as it will be essential in case you need to replace the money order if it gets lost or stolen.
Key Facts to Remember
Money Orders are typically purchased using cash or a debit card; credit cards are generally not accepted for money order purchases as they may be treated as cash advances. Both the purchaser and the recipient need to sign the money order to validate the transaction. It’s crucial to retain the receipt provided with the money order, as it contains vital information, including a tracking number, which can be used for replacement purposes if necessary.