Can You Cross Out on a Money Order?
Understand how alterations affect your money order's validity and learn the proper steps to take when correcting errors on this secure payment method.
A money order serves as a secure payment method, often used when cash is not advisable and personal checks are not accepted. It acts as a prepaid financial instrument, guaranteeing funds to the recipient. Alterations, such as crossing out information, are generally not permitted.
Validity of Altered Money Orders
Crossing out, erasing, or making any unauthorized alterations to a money order will invalidate the document. Money orders are treated with the same seriousness as official checks or cash; their security features are compromised by unauthorized marks. Alterations raise concerns about potential fraud, making the money order non-negotiable at financial institutions. Issuing entities, such as post offices or banks, maintain strict policies against alterations to protect both the sender and recipient from financial loss and ensure payment integrity.
Implications of Invalid Money Orders
Presenting an altered money order leads to its rejection by the recipient’s bank or the issuing institution. This causes significant delays in payment, as funds will not be accessible. The sender may also incur fees for processing a rejected or invalid payment. The money order’s value is lost until the sender resolves the issue with the original issuer.
Rectifying Money Order Errors
If an error is made on a money order, do not attempt to correct it by crossing out or making any other alterations. Instead, void the incorrect money order. The sender should return to the original point of purchase, such as a post office or bank, with the money order and the original purchase receipt. This receipt is important as it serves as proof of purchase and the unique identifier for the money order.
At the point of purchase, individuals can request a refund for the voided money order. This process requires completing a specific refund request form provided by the issuing institution. While a refund is possible, it may involve processing fees, which can range from a few dollars to a more substantial amount, depending on the issuer’s policies. The time frame for receiving a refund also varies, potentially taking anywhere from a few days to several weeks. Once the refund process is initiated, a new, correct money order can then be purchased.