How to Correct Errors on a Money Order – Everything You Need To Know

Last updated on September 21st, 2024 at 10:28 am

 

Maybe you’ve never used a money order and you’re stressed with how to correct errors on a money order, but in case you’re a type that fills in personal checks at times there’s not much difference in practice.

And you won’t find it challenging to fill out a money order when you come across one after going through a few lines here.

Information required on a money order is the same across different service providers despite the difference in formats used. Heard about the United States Postal Service, Western Union, or MoneyGram, right?

These three are among the biggest players in the industry when it comes to issues concerning money orders. If you’re new at using money orders there’re things you must first understand under the policy of service for convenience;

Money orders are an option for people without checking accounts since they can in no time be filled out, easier to buy, and cashed.

The fees charged on money orders vary according to service providers. And as best practice when writing a money order you must write in the recipient’s name.

Using a credit card to clear fees is a bit costly since there are unclear extra charges. But also, in order to effectively make bill payments, using an account or invoice number is a better option.

When you cancel a money order expect to get a refund in a month or later. Let’s move further to look at the various ways in which to correct a money order in this ultimate guide.

What Is a Money Order?

A safer instrument for transferring payments than using a personal check is a money order. However, both have some things in common being that all are financial instruments.

Briefly, a money order as a financial instrument can be accessed at convenience stores, banks, United States Postal Services, and other recognized service centers.

The Best Times to Use a Money Order

Most people use money orders to pay others and at the same time also get paid with them. It’s then mainly used in paying someone or when you’re getting paid, simple.

And where other payment means aren’t an option, a money order is here to serve you. On issuing a money order a particular recipient’s name should be attached hence this makes it more secure compared to cash.

You have to acknowledge receipt in order to receive a payment as per the terms of the service provider. If you’re finding challenges using checking accounts or personal checks the best alternative would be a money order.

But the most important thing here is the security of information on the financial instrument to be issued. The best part, since money orders are prepaid, you don’t have to worry about the risks of bounced money.

Yes, money orders are really a better option since even charges are pretty low, how cool is that? Asking about one other option that’s more secure than a money order, right? A cashier’s check is an alternative.

Despite the security, the charges on a cashier’s check are higher compared to a money order. In case you’re looking for a cheaper and more convenient form of financial instrument, a money order is among the best alternatives.

How to Access Money Orders

If you want paper money orders the best way to effectively access them is through recognized dealers. How about online money orders? Sure, they’re not much preferred and the charges for them are higher.

Despite other locations but in the United States access to money orders is easier since there’re many service providers in different states. Sellers of money orders in the states are doing their best to provide service to satisfaction working weekend hours too.

Therefore, some of the nearest places to access are the United States Postal Service, Walmart, Banks, 7-Eleven and more.

What Does It Take to Correct a Money Order?

Sometimes when you want to cancel or replace a money order it’s better you talk to the issuer before taking action. But if they’re minor mistakes those can be corrected personally and easily without contacting a service provider.

At times some service providers consider minor issues too, that’s why it’s better to understand their terms in regard to correcting money orders. Though, for strictly suspicious cases say scratches may make a money order to be rejected.

Here’re some best practices to consider in accessing money orders from different service providers under terms of service.

1. Western Union

You’re not allowed to do any corrections in case of errors made for example wrong address on a money order as a purchaser according to policy terms.

And that’s why you must be clear-headed enough while filling in the form and at the same time get to know how to cancel a money order with best practices that work.

It’s company policy despite the fact that at times corrections are accepted as advised by western union agents.

However, there’re strict measures when it comes to changes made to figures before cashing a money order. Ensure that where amounts are written on the form you use best practices that won’t bring about suspicion.

Like any other financial instrument, there must be strict measures of use for security purposes. But in order to get about all the challenges successfully you need to fill out the form with perfection.

What do I mean by perfection? Ok, put the correct figures, use the right names and addresses, and cancel the original money order in case of errors to replace it with a new one.

2. Banks

The money order policies among banks are almost the same compared to other service providers. Big players in banking in the United States are using similar correction policies since they’re under the same umbrella.

The best practice is to ensure that you’re sober when writing a money order, and in case of any errors just replace it with a new one. Can I return a money order that has been filled out? With banks, there’s room for correcting errors since they’re not so strict about spelling in the names, addresses, and a few other errors.

If spellings in the names and addresses are not so much considered then you need to put emphasis on other factors.

Can I get access to a free money order? Yes, most people don’t worry about replacing or correcting errors since a lot of banks in the United States offer free money order forms.

Though, sometimes where there’s a need to cancel the money order form you may incur a negligible charge to the service provider. And the charges only apply when the mistakes on the money order made didn’t come from the bank’s side.

3. United States Postal Service (USPS)

If there are minor mistakes in spelling on a money order a client can only cash it when the bank acknowledges it. And this means that USPS policy states that mistakes shouldn’t be corrected on a money order form for security purposes.

Clients needn’t worry about the costs of replacing errored money orders since with USPS it’s free of charge. But one must be approved to get a new form in case of any replacement required to be done.

How can you get approval on replacement? You have to fill out a money order PS form 6401 and make a request for a replacement

4. MoneyGram

Here in scenarios where you can’t get access to a check cashing service or a bank most likely a money order is canceled out.

And this implies that when you make any mistake on a money order you only have to replace it with a new one. Where it involves check cashing services or banks most likely minor mistakes are not an issue. But

MoneyGram terms of service are strict in that any changes made to a money order make it invalid. Just be sober when you’re filling out a money order to avoid making errors while using MoneyGram.

How To Correct a Money Order

Canceling or replacing a money order, some of the best practices would be first contacting a service provider. You could then be advised on the way forward which is writing out a cancellation request form.

However, at times you’re required to present a receipt of payment of a money order purchase. And canceling a money order might be done at a cost by the issuing entity according to the terms.

When the service provider acknowledges receipt of the cancellation request form you can ask for a cash refund.

Cash refunds or replacements are made in about a month or even more, which requires patience. If you can’t wait that long then you have to contact your service provider for a new money order purchase.

Delivering a Money Order

Like any other financial instrument, you must write a money order correctly. Take note of the unique identification number of the money order to be used in tracking whether it’s cashed and also to serve as proof of payment.

When all paperwork and clearance are done, it’s then safe to deliver a money order in person or via mail to the recipient. The recipient will then acknowledge receipt of the financial instrument to be cashed.

Can A Money Order Be Refunded?

Yes, when you meet the requirements as stated by the service provider. On canceling a money order, you don’t lose out completely though you incur some costs to effect service.

And that’s why keeping copies of receipts of payments is vital so that they can be presented in case they’re required. Basically, most service providers need three requirements: receipts of payment, identification details, and money order.

At times you may not be in a position to present the money order but making a payment inquiry with a service provider say the United States Postal Service is a wise option.

Despite the fact that some service providers don’t request receipts of payments to make refunds, their waiting periods are much longer.

And it can take about 2-3 months depending on the issuing entity at that moment. Therefore, ensure to handle money order payments responsibly to avoid any challenges that may fail refunds.

Money Order Vs Personal Check

Most people prefer using money orders to personal checks due to the convenience of use and safety. But there’re several other safer financial instruments like cashier’s checks used in money transfers.

So, in case you’re all about safety cashier’s checks are a better option. And again, compared to a money order in case of loss of a cashier’s check access to funds is much easier.

How to Fill Out a Money Order with Best Practice

A money order can only clearly reflect the purpose it intends to serve when correctly written. Therefore, the name and contact information can only be written in by first confirming the amounts to be transferred.

Recipient’s details should also be included on the financial instrument say name and contact details. Service providers are also interested in the reason for payment made and that’s why they include a memo line on money orders.

The money order should be activated by putting a signature at the front after you have fully filled in the details.

Since at times orders get lost you must keep receipts safe for security purposes. And you must keep safe receipts of payment so that in case of getting a refund or replacement it’s easier.

In fact, having a receipt also saves the charges that would cost you, which you’re not ready to pay. Always responsibly write a money order with confidence to avoid making errors that cost you time and money.

Filling out a money order isn’t hard at all as long as you follow the policy guidelines of the service providers.

Advantages and Disadvantages Attached to Money Orders

Like some other financial instruments, there’re advantages and disadvantages attached to a money order that you need to understand before using it.

• The convenience of use gives a money order an edge over some other financial instruments.
• Some service providers would require you to have a checking account in order to purchase a financial instrument but for a money order, it’s not the case.
• Despite some other instruments, a money order can be accessed from any convenience store like a grocery store.

Money orders could be your preferred option but they do also have some downsides in use.

• Purchasing money orders is done at a cost which is not the case with checks.
• A lost money order that’s not fully completed its details can without difficulty be tampered with.
• Using a money order, you can’t access big money items of more than $1000 in cost.
• Purchasing big money items gets more expensive because there’re extra charges attached to accessing more money orders.

FAQs

1. Apart From A Money Order Which Other Alternatives Can Be Used?

Alternatives to money orders are very many out there though, it’s hard to exhaust them all in here. Using personal checks is surely among the best options due to safety and zero charges.

PayPal and Venmo Apps are other alternatives that you can think of besides money orders in case you intend to make transfers. And banks are also among the biggest players in the industry since they’ve served big times.

2. Where Can A Money Order Be Gotten?

Western Union, post offices,s and banks are the common suppliers but there’re other service providers in the industry. And you can go by any that meets your needs in regard to convenience and security.

3. What Is The Cost of a Money Order across Service Providers?

When it comes to charges, every service provider attaches a different rate and this depends on the order amount. And the difference in charges is insignificant across service providers.

4. In Case Of Correcting Mistakes On A Money Order, Whom Should I Contact?

This is reflected in the company’s terms of service among the providers. And where it’s not clear, better to reach out to customer care to direct you to the right agent.

Conclusion

You might have had challenges in relation to safety and convenience in transferring money using other instruments, right?

Alternatively, use a money order and explore its benefits in comparison to some other financial instruments for a better experience.

And with best practice writing a new money order in case of any mistake it’s a safer option. Irresponsibly handling and writing a money order puts clients and service providers at risk of fraud.