According to several companies, it is acceptable to make a money order out to ourselves and also cash it. This is regardless of the issuer, as many people follow this practice. ..
The fee to place an order with a store like Amscot, Chase, Moneytree, etc., depends upon the retailer. Many places offer free money orders.
Steps to make a money order out to yourself
The process of making a purchase with a money order is very similar to that of making a purchase with a credit card. First, you will need to decide the amount of the order. Then, you will need to fill out your information and pay the issuing fee specified by the company. Finally, you can go to any post office location or bank to place the order. A money order can only be made by cash or debit cards or traveler’s cheque but not by credit cards. Once you have placed your order, you will collect the Receipt and keep it handy to track the order and future references.
How to deposit a moneyorder made to yourself?
A deposit slip is a document that proves that someone has deposited money into a bank account. A receipt is a document that proves that someone has received money from a bank.
Head to your nearest bank and obtain a deposit slip. Fill in your details and endorse it by signing it. Present the deposit slip, moneyorder, and Photo ID (if required) to the bank employee. Collect and save the transaction receipt for future reference. ..
Precautions to be taken before accepting a moneyorder
-The paper should be of high quality and feel smooth to the touch. -The printing should be precise and uniform. -There should be no tears or rips in the paper. ..
The Ben Franklin watermark on the left side of the USPS’s website repeats vertically and horizontally across the page. A multicolored thread weaves in and out on the right side of the watermark. The dollar amount is discolored, imprinted multiple times, varies in size, etc., which indicates that it could have been modified. If any fraud is suspected, then immediately contact US Postal services.
Damaged, Lost, Stolen Money orders
If you have lost or stolen money orders, you can replace them with a new order as soon as possible. You will need to go to any post office location and start the inquiry. We can then check the status of the moneyorder. If the order status is confirmed as lost or stolen, then a new replacement of the order is issued.
If you have a damaged money order, take the money order and the receipt to any local post office and they will issue you a replacement. ..
Yes, you can get a moneyorder online.
The online moneyorder enterprise is a risky industry. A few websites are presenting online cash orders. However, the maximum of them are in different nations except for the U.S., and you and the recipient should be withinside us. To apply those services, other agencies put it up for sale online cash orders but provide cash transfers, which aren’t identical, even though they can accomplish a similar purpose. Beware of scams during the online process.
Can the moneyorder be altered?
The money order cant is altered after mentioning someone else’s name in the recipient column. However, a refund can be initiated. The process usually involves going to the issued location, filing a claim online (via mail), etc. Before beginning the refund, one should be ensured that the order is not cashed by other people, which can be accomplished by tracking the moneyorder.
How to track the money order?
The money order can be tracked anytime after the purchase. First, one needs to be ready with the serial number and dollar amount of the order from the detachable stub. Most popular moneyorder issuers such as Western Union, Money gram, and USPS have their website to track the order.
Conclusion
In conclusion, it is possible to make a money order for yourself, but it cannot be altered after it is made out in someone else’s name. Therefore, you must write your name as both the purchaser and recipient to write a money order to yourself. ..
