Can A Money Order Be Cancelled?
To answer all queries related to Money order cancellation. Read this writing till the ending. Here is a comprehensive directory regarding Money orders.
Money Order
Here is a brief introduction to the Money order. A money order is a certified form of payment. Money orders are prepaid.
It can be an alternative to a cheque. You have to buy a money order by paying cash. So, there are no possibilities of it getting rebounded.
Two people or groups can use this form of payment in exchange for help. You can also recover your cash if your money order is stolen by showing its receipt.
Where to purchase a Money Order?
Following are the locations from where you can purchase a money order:
Banks Retailers like grocery stores, pharmacies, or convenient stores. Check-cashing stores
They charge you for the acquisition of the money order. For instance, a retailer bank charges $5 US Dollars for a money order purchase.
Can you withdraw a Money Order?
Yes, you can cancel a Money order if you want. You need to do some paperwork for the cancellation of your Money Order. You will have to do all the paperwork in person.
For Money order cancellation, you don’t have to go to the same place where you bought the Money order. It is helpful if you go to the same area. You can also visit any post office dealing with the Money order.
How much does money order costs?
The fee varies from $1 US Dollars to $5 US Dollars depending on the purchase.
Banks charge $5 US Dollars. US post offices charge $1. 45 US Dollars for a purchase of $500 US Dollars and $1. 95 US Dollars for purchases of $500. 01 – $1000 US Dollars. Walmart charges up to $1 US Dollar.
How to cancel a Money Order?
To cancel your Money Order, you must have a specific reason. The cancellation process comprises of few steps following is a step-by-step guide:
Contact the LanderGive detailsAdd receipt copySubmit cancellation requestPay cancellation fee
Money Order cancellation fees
If you want to cancel your Money order, you will pay a fee. The charges for the cancelation process vary.
You will pay extra if you don’t have the original receipt of the money order. And try to pay a fee with the cancellation request. Otherwise, the issuer will deduct money from your money order, and it can also slow the process of cancellation.
Here’s is a list of Money order cancellation fees:
MoneyGram for $18 US Dollars. US Postal Office charges $6. 25 US Dollars. Western Union charges $15 US Dollars with a receipt and $30 US Dollars if you don’t have one.
When to cancel a Money Order?
If you ever feel the urge to cancel your Money order, there might be a reason behind it. So, here are a few reasons to cancel your Money order:
If your Money order is misplaced. If your Money order is theft. If you think it is taking longer than expected. If you collide with the opponent group. If you have accidentally shipped it to the incorrect person.
Money Order Refund time
Once you have submitted the request to cancel the Money order, it might take 30 to 60 days. But the time varies depending upon the situation.
Some issuers offer a refund, while others provide a replacement. In both ways, you will get your money.
If the money is cashed from your Money order, you will receive a document showing who cashed the Money order. It will help you get back your money using the law.
Benefits of using a Money Order
Using Money orders for money transactions is beneficial in numerous ways. Here is an index of advantages of using a money order:
You can stalk your money order. No one cash order besides the recipient. No chances of getting bounced. If your Money order is lost, it can be recovered. Safer means of allocating money
Conclusion
Now we have learnt ‘Can A Money Order Be Cancelled?’, The money order is a safer means of money transaction. But there can be reasons we want to cancel the Money order.
A money order can be canceled. You have to submit a cancellation request, attach the receipt, provide the required details and pay the cancellation fees.
You must cancel your Money order if you think it’s misplaced or looted. If your Money order is taking longer than usual, you should track it and cancel it if required.
