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How does Money Order fill in [illustration] What is Money Order?

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Money Order, Chinese is called “exchange” ,, It is a paper payment form that has been paid in advance.

You can purchase exchange bills through cash, or other guarantee funds (such as debit cards), and generally you cannot use credit cards.The name of the payee will be stated on the bill of exchange, so it is a payment method that has been paid, a clear payment, and a relatively safe payment method.

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What is Money Order?

The bill is a paper payment list, which is different from the check (see the difference between the exchange and the check).

The bill of exchange is relatively safe and there will be no personal short check, because the bill is purchased by guaranteed payment by guaranteed payment through cash, debit cards, etc., instead of purchasing with personal checks or credit cards.

In addition, you must provide the name of the payee when buying a bill, and the name of the issuing institution of the bill of exchange will be printed on the top of each bill, such as: the USPS logo will be printed on the bill you purchase at the US Post Office (USPS)Essence

The exchange is a relatively safe payment method.Even if your bill is lost, your money will not be lost.Theoretically, other people cannot exchange the bills except the receipt on the bill.But you still need to save the bill of receipt (Receipt) to prevent from time to time.

The following is the US Post USPS’s bill:

Fake Money Order Image showing fake described in section How to Spot a Fake Money Order
Image Source: USPS

In the United States, you can buy the bill at the following institutions:

  • American Post Office ( USPS.
  • Credit Union, for example: Wells Fargo, Bank of America,, U.S.Bank etc.
  • Convenience stores and supermarkets, such as: Walmart, CVS, KMART, SAFEWAY, PUBLIX, Kroger, Tom Thumb, Meijer, etc.Note: The bills purchased in these convenience stores are generally consistent Moneygram(Speedback gold) or Western union(Western Union remittance) provided.

How to fill in Money Order?

How to fill in Money Order

Here are the five steps to fill in the bill:

1.Fill in the name of the payee

The receiving object (labeled “Pay to”) can be a person or a company.

Try to fill in the payee clearly as much as possible to prevent the bill from being lost.Others cannot tamper the payee.

2.Fill in the payee’s address

Below the payee’s name, you will see a labeling of the address of the payee.You only need to fill in the address information of the payee here:

  • If the receipt is a person, you only need to fill in his family address;
  • If the collection object is a company or institution, you only need to fill in the address of the company or institution.

3.Fill in the name of the purchase of the bills

Mark 3 places in the picture above, you need to fill in your name.That is to buy the name of the contributor.

4.Fill in the address of the purchase of the bills

Fill in your personal address at the above standard 4.

5.Fill in the purpose of buying a bill

On the bill, you will see a place to mark “MEMO”.You should fill in your purpose of buying a bill.For example, if you buy the bill to update your Chinese passport, you can fill in the use at MEMO.

6.Complete the signature

After filling in the above information, you will find a place where you need to sign on the bill.In addition to the purchase of US post banks, the signatures of other bills will be filled in at the position 5 of the above Figure 5.

Notice: The back of the bill is not the signing of the bills.Here is where the payee needs to sign after receiving the bill and redeeming.

What are the cases of using Money Order?

In the following situations, you may consider using Money Order:

  • The payee requires the use of Money Order as a payment method.For example, to apply for a child’s return travel permit in the Chinese embassy in the United States, the embassy requires the use of Money Order as a payment method;
  • If you want to send payment through a letter, you can consider the safer Money Order;
  • If you buy valuables and do not want to carry cash with you, you can consider using Money Order;
  • If you have no personal check, you can consider using Money Order;
  • If you are worried about the risk of being returned with personal checks, you can consider using Money Order;
  • If you want to make international remittances, you can consider using Money Order;

What is the handling fee for buying Money Order?

The handling fee for buying bills is generally ranging from $ 1 ~ $ 5, and it may also be higher, mainly depending on where you buy draft.

Usually, it is the highest in buying bills at banks, and the cheapest purchase of exchange bills in convenience stores such as Wal -Mart or supermarkets.

Notice: The bills you purchased in convenience stores and supermarkets (for example, Walmart, Kroger, CVS) are generally provided by Western Union or Moneygram.

The following is the handling fee and payment method when buying a bill at different institutions:

Can

Placement of buying bills

Bill of exchange handling fees

USPSThe amount of the bill is less than or equal to $ 500, and the handling fee is $ 1.3; the denomination is 500 ~ 1,000 US dollars, and the handling fee is $ 1.75.
Chase, Wells Fargo, TD Bank, Citibank and other banksThe handling fee is about $ 5, and for certain account types, it may be free.
WalmartThe maximum handling fee is $ 1.Its exchange is provided by MoneyGram.
7-ElevenThe cost is between 1%and 3%of the bill surface value.Its exchange is provided by Western Union.
CVSThe cost is about $ 1.25.Its exchange is provided by MoneyGram.
KrogerNot all Kroger branches can provide bills, the handling fee is between $ 0.84 ~ 0.88.Its exchange is provided by Western Union or Moneygram
MeijerYou can only buy bills, but you cannot redeem the bill, and the cost is about $ 0.65.Its exchange is provided by Western Union

What is the validity period of Money Order?Will it expire?

The draft is usually not marked with Expiration Date.However, it is still recommended that you get it in a certain period of time, otherwise you may need to pay an additional fee.

Whether a bill of exchange will expire depends on the issuer of the bill.Some financial institutions will stipulate a exchange period when they get legal permission, and financial institutions can directly give the bill balance as the abandoned property to the country.

“The Uniform Commercial Code” (“Unified Commercial Code”) stipulates that banks do not have to be fulfilled for more than six months.

Therefore, even if there is no trading term on the bill of exchange, the bank has the right to refuse the unspeakable draft that has not been fulfilled for more than six months.

How can Money Order fulfilling it?

You can exchange exchange bills such as the US Post Office, bank, Credit Union, remittance agencies, supermarkets and convenience stores.

When you exchange, you can directly exchange for cash, or you can handle it at your deposit bank and transfer the amount of the bill directly into your bank account.Banks generally accept US posts bills, because banks are related to the US Post’s system.

When you exchange, you need to show your identity certificate before you can exchange the exchange bill.

What if Money Order is lost, what should I do?

If you are not sure if your bill has been redeemed, you can check your bill usage by calling the customer service number of the issuer or on the website of the issuer;

If the bill of exchange is lost, as long as it is not exchanged, you can change the bill, but the processing time takes about one month.

Here are the steps to cancel the bill:

  • Contact the issuing agency, they will first ask the information of the bill of exchange, then let you fill in an application form, and then perform the relevant work of canceling the bill.If it is a bill at the US Post Office, you need to fill in the form in the post office before you can cancel the bill.
  • You need to provide detailed information on the bill of exchange, such as the purchase date of the bill, the place of purchase, the amount of the bill of exchange.This information is available on the bills you purchased at the time.However, if your receipt is also lost, please provide as much useful information as possible, such as: the name of the bill of receipt of the bill of receipt; how your bill is lost.
  • If you have a receipt, copy a copy and give it to the bill issuance agency.
  • Submit the application form for canceling the bill of remittance and pay the relevant handling fee.You can choose to submit the application form in person, or you can choose to submit the application form online, for example: for West Union, you can submit the application form through email, fax, or mail.

Here are some large banking bill issuers to collect the handling fee for canceling the bill:

  • American Post: $ 6.25
  • Moneygram
  • Western Union: If you have a bill, the handling fee is $ 15, and there is no receipt fee of $ 30

After collecting the handling fee, the issuer will verify the bill information and inquire whether the bill of exchange is redeemed.

If the bill is not exchanged, the issuer will cancel your old bill and send a new bill to you.

If you still have a receipt when you buy a bill, the whole process usually takes 20 to 30 days; if you cannot provide a purchase receipt, the bill of sending institutions will take about eight weeks to handle your bill of cancellation.

In addition to getting a new bill of exchange, you can also choose to refund the money directly, and the processing method and claim time are basically unchanged.

If your bill of exchange has been exchanged, you may not be able to refund or change the bill of exchange, and the bill issuance agency will provide you with a copy of the bill of exchange.

If you think it is fraudulently exchanged, you need to find the local law enforcement department to further solve the problem.

The advantages of Money Order

The bill is a very common payment method in the United States, especially the unable to replace:

  • The bill is safer than carrying cash, especially for large payment.For example, if you need to buy some valuable items, you can use the bill to pay instead of a lot of cash on your body;
  • If you need to send payment with mail (Mail), then the bill will be safer, and no private bank information will be provided on the bill of exchange;
  • If the bill of exchange is lost, you can replace a new bill of exchange or refund it directly by the issuer.Even if you need to pay some fees during the change of the bill, it is much better than the amount of the amount.

Money Order’s disadvantages

Most of the bills of exchange are considered a way to pay safely, but there are also the following disadvantages:

  • It takes a handling fee to buy a bill, which will increase the additional fee;
  • After the bill of exchange is lost, cancel the bill or replace the new bill of exchange for a long time, and you need to pay the relevant procedures;
  • There are also some financial institutions that do not support bills, such as insurance companies, so the scope of use of the bill of exchange is limited;
  • When redeeming the exchange, it does not support the use of mobile devices online redeem;

What is the difference between Money Order and Cashier ’s Check?

The billy order and the bank check (Cashier ’s Check) are considered a very safe payment method, but their purchase channels, purchase costs, and use scenarios are different.

  • Bank checks are a official check issued by the bank, which means that bank checks can only be purchased and exchanged at banks; but the bills can be purchased in many places, such as: US Posts, Banks, WALMART, etc.These places can often be exchanged for exchanges.The bills they issued.
  • The use of bank checks is relatively narrow and can only be used in the same country, but the bill of exchange can be used by transnational.
  • The fee for the purchase of the bill of purchase is different due to the different fees received by the supplier (issuer), and the cost is between $ 1 and 5 (refer to the above-mentioned relevant bill of handling fees); you usually need to pay about $ 10 to the bank when you purchase a check.The handling fee, but the soldiers are free of handling fees.

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