Can you put any name on a money order?
Steps to fill out a money order It’s important to fill out this section as soon as you purchase the money order, since this will be the only person authorized to cash or deposit. (If you lose or misplace a money order before you write in the payee’s name, anybody can write in their name and cash the money order.)
Who can deposit a money order?
The recipient can cash the order at a local bank or credit union—there’s no requirement to go to the issuer to have it cashed. Money orders can also be deposited into a bank account, for no fee. The money order can be issued in one country and be cashed in another country.
What is a third party money order?
A money order is a certificate of payment that is secured by a financial institution or another third party. You’ll need to include your name and contact information, as well as the recipient’s, on the money order. It is also a convenient way to pay bills if you don’t have a checking account.
Do money orders need to be signed?
On most money orders, it’s your signature that’s requested, just as you sign a check. But on USPS money orders, the blank is only labeled “From.” Whether you write or sign your name is up to you. USPS money orders offer additional space for the address of the recipient.
What happens if you mess up a money order?
Unfortunately, filling out a money order with the wrong information is not easily forgiven. Changing information on the completed money order will make the order ineligible for cashing; the official policy is that money orders must be canceled and/or refunded if there is a mistake.
How do you cash a third party money order?
You cannot cash or deposit a money order that is made out to someone else unless the original recipient signs it over to you, and vice versa. To sign a money order over to another person, you need to sign your name on the endorsement line and write “Pay to [Name of person]” beneath your signature.
Does Walmart cash third party money orders?
Does Walmart cash money orders? Walmart will cash MoneyGram money orders. Check Cashing fees may apply.
Can you deposit your own money order?
If you don’t need the money right away and you have a bank account, consider depositing it. Banks accept U.S. Postal Service money orders as they would regular checks at branches, ATMs or even on a banking app with a mobile check deposit function. Don’t forget to sign the back of the money order before depositing.
Can I electronically deposit a money order?
Buy a money order If your online bank has an electronic scan feature, you can snap a photo and upload the money order to your account for deposit. If your bank doesn’t have this feature, you can mail it to the bank’s headquarters for deposit.
Can I quick deposit a money order?
Some (but not all) banks and credit unions allow account holders to deposit money orders through mobile deposit. Sign the back of the money order and write your bank account number beneath your signature. Open the mobile app and take photos of the front and back of the money order.