How to Cancel or Replace Money Orders: Fees and More

As the Greek philosopher Heraclitus said, “ Change is the only ceaseless in life. ” So what happens if your plans change after you buy a money ordain and drop it in the mail ? What if it goes missing or gets stolen ?

With most money order issuers, including USPS, Western Union, and MoneyGram, you can cancel the payment. To do so, either fill out a form or take the money ordain second to the put you originally bought it. Bring identification and any information you have about the money order to start the serve. It ’ randomness full if you have a reception from your master money arrange leverage .

If successful, the issuer should return funds to you, often within about 60 days .

The oklahoman you act, the better : If the money decree gets cashed or deposited, you ’ ll have a much harder time getting your money rear. Read on for more details about the summons .

How to Cancel a Money arrange

You need to do some paperwork to cancel a money order. You might do that in person, or you may be able to do everything remotely. For model, with Western Union, you can send the form by fax or email.

Submitting your request in person may be the safest option. A spokesperson might be able to help verify that you satisfy all of the requirements, and you don ’ t have to wait for forms to move through the mail. You may have to wait for the company to conduct research, though. You don ’ thyroxine necessarily have to go to the same placement you bought the money order from, although sometimes that ’ sulfur helpful. You should be able to visit any post function that deals with USPS money orders, and you can use unlike branches of the same bank or credit marriage .

Forms You Need to Cancel a Money order

To start the process immediately and see requirements, visit the customer service web site for your money regulate issuer :

  • USPS replacement instructions
  • Western Union money order service
  • MoneyGram service forms

Keep your reception any clock you buy a money order. It ’ randomness best to provide the receipt when delete because it contains important data, like the money order number and other details .

If you don ’ t have the receipt, gather as much information as you have. even a photograph of the original money decree is helpful. Without a reception, the issuer might be able to find your money arrange, but they may charge extra fees—and there ’ mho constantly a gamble that they won ’ t find your money order without a receipt.

If You still Have the Original Money ordering

If you calm have the original money order, you do n’t have to worry that it will be cashed. Returning the document to the issuer can help speed up the refund process .

How long Does a Money Order Refund Take ?

once you submit your cancellation request, the money club issuer will research the token and confirm that it has not been paid. If it is still outstanding, you ’ ll get a refund or successor ( less any fees ), depending on the issuer .

plan for the summons to take 30 to 60 days. however, the time frame can vary depending on how complicated the situation is. Yes, that is a long time to wait. If approved, some issuers offer refunds, while others provide a substitution money order ( which you make collectible to yourself ) .

If anybody deposited or cashed the money arrange, you ’ ll typically get a photocopy of the document so you can see who endorsed the money orderliness, and when. If larceny or fraud was involved, that documentation could help you and jurisprudence enforcement officials to track down thieves. That information could besides help you get your money back ( if the bank that paid out funds did not properly verify the identity of whoever cashed the money order, for exemplar ).

Fees for Canceling Money Orders

Canceling a money order—or finding out that it ’ second besides deep to do so—will cost you. Western Union and MoneyGram charge an $ 18 work tip. But prices may rise if you don ’ t have a transcript of your original acknowledge or if you want to expedite the work. The tip to replace a suffer or stolen USPS money order is $ 6.95 .

It ’ s best to submit payment along with your cancellation request. In some cases, the fee can be deducted from your refund, but it besides slows things down if the money order was cashed ( because there ’ sulfur nowhere to pull the funds from ).

money Orders You Receive

If you receive a payment by money club, you might wonder if it ’ s a completely safe form of payment, or if your buyer can cancel the requital. To be safe, cash or deposit the money order angstrom cursorily as possible. Doing so reduces the chances of problems, like person canceling the money order .

The two key risks you face when getting paid with a money order are :

  • The money order is fake.
  • The buyer could cancel the money order before you cash it.

Some money orders are forge, and con artists regularly use them for on-line scams. You can try to verify the requital by calling the issuer before you send merchandise, but the absolute dependable overture is to cash the money order with the issuer. Remember that your bank might allow you to cash a money orderliness for 100 % of its value, but belated come after you for the funds if the money order is bad. consequently, it ’ second critical to cash the money arrange directly with the issuer .

Resources for Canceling Money Orders

If you need to cancel a money holy order, it ’ south best to go immediately to whoever issued it. however, if you ’ re trying to understand what ’ s involved ahead of time, you may want to review the following documents and other data available from each issuer :

  • For Western Union, a Lost Money Order Search Request form
  • For MoneyGram, a Money Order Claim Card
  • For USPS money orders, form PS 6401 (Money Order Inquiry)

For up-to-date forms and the fastest service, contact your money order issuer immediately, and get forms immediately from them.

frequently Asked Questions ( FAQs )

How Long Is a Money Order Good for?

money orders typically do not have an exhalation date. however, some institutions may charge a fee for cashing money orders more than a few years old. If you have an great money order that you do n’t want to be cashed, be certain to cancel it .

How Do You Track a Lost Money Order?

If you ‘re diffident whether a money order has been cashed, you can contact the issuing institution to track it. MoneyGram, Western Union, USPS, and local anesthetic banks all have different procedures for tracking lost money orders. Each will require a fee for the service.

How Do You Correct a Mistake on a Money Order?

If you make a mistake when issuing a money order, you credibly ca n’t change the existing rate. You ‘ll have to cancel it and issue a newly one .

source :
Category : Finance

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