A money order is a prepaid payment that can be more secure than cash or checks. Learn how they work.
A money order is similar to an ordinary check, except that it's prepaid rather than linked to money in a bank account. You can buy a money order from a variety of organizations, including the United States Postal Service, many banks or credit unions, and private companies such as MoneyGram...
Fill it out:In addition to the payee’s name, you’ll need to add your name (and maybe your address) and sign the money order. (For step-by-step instructions, check out NerdWallet's guide onhow to fill out a money order.) Be careful to ensure that everything is accurate because yo...
A money order is considered one of the safest ways to send money or pay a bill through the mail when you don't have a bank account.
A money order is similar to a check in both appearance as well as function. You can treat one just as you would a check that's made out to you. You can cash a money order or you can deposit it into a bank account to get access to the money. It's just a piece of paper until...
What is a money order? A money order “is another physical monetary instrument much like cash, checks or cashier’s checks,” said Kasey Ring, president of Upward Personal Finance. “It’s a piece of paper that acts like an exchange instrument for cash.” It’s safer than cash because ...
When Should I Sign (Endorse) the Back of the Money Order? As with checks, a signed and endorsed money order is the equivalent of cash. Anyone who gets their hands on it after you've signed it can take it to a location that cashes money orders and help themselves to the money. Of ...
(Learn more about how to fill out a money order.) If you lose the money order before filling it in, anyone could cash it. And once someone cashes that money order, you more than likely won’t get your money back. If a money order or cashier’s check is cashed fraudulently, you ...
Make sure to keep any tracking or delivery confirmation information until you know it's been received and cashed. Read: Best CD Rates. When Does it Make Sense to Use a Money Order? Paying via a money order is best when you need to send money securely, especially if a bank account isn...
A money order is a secure alternative to cash or a personal check, which you can use to send money or pay bills. It works much like a check and is usually issued by a government or banking institution. You can cash a money order or deposit it into a bank account. Money orders are ...