We transfer money through various means. We can do it in check, cash, credit, and many more. But one of the lesser known method is a money order form. This form is known to be one of the safest and relatively easy method of transferring money. Intrigued to know more about this form? Check out our article.
A Glimpse to What Is A Money Order Form
This form applies the same logic to any money transfer, but it uses a form as a concrete evidence of payment. Unlike checks, this form asks you to fill out several information that is more detailed than a check.
This form is preferable by a few company or institution because it is relatively safe. If the form is lost in the middle of the way, you can easily get a refund. Other than that, the money is also hard to steal because sender should write a clear name and address of the targeted receiver before hand. Theft or fraud will be hard to do. With this logic, sending the money overseas are safer than other method. Other than that, you don’t need a specific bank account to start issuing this form. This means that this form is more accessible to all.
The negative side of this payment is that it is hard to get. Not everyone is familiar with this form therefore the demand for it is quite low. A low demand creates little incentives for places to provide this form. But, it’s still important to know this form if you are planning to get a safer method of transferring money.
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What Is In A Money Order Form
The keyword when describing money order form is simplicity. That simplicity translates in the contents of the form too. Some of the contents are:
• Sender’s information
The first part of the order form consists of several information about you, the issuer. Here, you fill in some details about your full name, your contact number, your address, and sometimes even your email. Be as detailed as possible so you can get a refund if the money is lost along the way. Aside from that, detail is also important so that the recipient can verify your payment.
• Recipient’s information
The second part is a detailed information about the recipient. To get information about this, find out in their website or ask through the existing contact number.
• Order details
The information that you should write down in this section is the type and quantity of the order that you are making. Be really specific about the type of product you are ordering. If there is a specific code for the product, write it down.
• Cost details
Once you know what you are ordering and how much, count the total cost of the product. That is how much money you should put alongside the form.
See? Money order forms are so simple that it consists only of four main parts. Familiarize yourself with this parts. Soon, you’ll find that filling out the form is a piece of cake.
How and When to Issue the Money Order Form
Simplicity of an order form does not just show in the contents and in the method, it also shows in how and when you have to issue the order form.
Money order forms is usually used when the seller ask you to use an order form. Since the company understands how safe it is, most company will prefer that method of payment. When this is the case, what you need to do is to download the form or get the form from then first hand.