A money order is a paper document, a great alternative to other payment options like cash, check or credit cards. They are prepaid, and money orders can’t bounce like a check. However, Chase Bank can cancel or refund them if filled out incorrectly.
Hence, knowing how to fill out a Chase Bank money order is important. Money orders work like a check but require different information from customers. For instance, you must write your name and address along with the transaction amount.
The steps to fill out a Chase Bank money order are the same as the other national banks. Mentioning the recipient’s name is essential in your money order’s “Pay to the order of” section. Chase Bank users must include the optional notes in the Memo section.
Have you recently created an account on Chase Bank? Here is what you need to know about their money order:
Information to Include in Your Chase Bank’s Money Order:
The requirements to fill out a money order vary from one national bank to another. Each financial institution’s money order looks different as well. However, a money order requires the same information no matter which bank you have an account.
Generally, the information you must include in a money order is:
- Payee’s name
- Payment amount
- Your name and current address
- Recipient’s address
- Billing account number
- The reason for buying the money order
You might also need to fill out an application from your Chase Bank for purchasing the money order. Some financial institutions limit payment options. Hence, contacting Chase Bank’s customer support team will be a wise decision before filling out a money order. Ask them whether they accept credit and debit cards when buying the money order.
Step-by-Step Instructions to Fill Out a Money Order from Chase Bank:
Chase Bank doesn’t accept online money orders. Hence, you must go to the nearest bank branch to fill out the money order. It is important to mention that you must double-check the information you have written on the printed document before submitting it.
Add your Chase bank account number at the top of the money order if you pay a utility bill. A checking or savings account in Chase Bank is essential to buy a money order.
Besides, you must have a lump sum in your bank account to submit a money order. Chase Bank won’t allow you to fill out a money order if you have an insufficient savings/checking account balance. Ensure to keep the money order receipt if you want to cancel it.
Here are the steps you must follow to fill out the Chase money order:
1. Write the Recipient’s Name
First, you must fill in the recipient’s name in the “Pay to” section of the money order. You might also see the “Pay to the order of” section instead of “Pay to” in Chase money order. Write the name clearly so that the bank authorities can understand it easily.
You can consider writing the business name instead of the employer or manager’s name. It’s important to fill out this section when you buy the money order from your Chase Bank branch.
What if you lose the money order or it gets misplaced without a recipient’s name? Chase Bank might hold you responsible for this. Moreover, the person who will find the money order can write their name if the “Pay To” section remains blank.
2. Write Your Name and Address in the Purchaser Section
Look for the Purchase section on your Chase Bank’s money order. Write your name and address in the Purchaser field. Make sure to provide the correct address and name in this bank document. Otherwise, the recipient can’t contact you if there is any issue when they cash your money order.
3. Include the Recipient’s Account or Order Number in the Memo Section
Cash Bank’s money order also has a Memo field except for a Purchaser and Pay To section. A memo line lets you write the reason for sending the money order.
The memo specifies that the sender uses the money order to buy a specific item.
Additionally, you can use Chase Bank’s money order to repay your monthly debt payment. Add the payee’s account or order number in the memo field. The Memo section is at the bottom of the Chase money order.
4. Sign You Name in the Money Order
Sign the Chase Bank’s money order where indicated. Don’t add your signature at the back of the money order. Chase might cancel the money order if the sign doesn’t match or you sign in an incorrect place.
5. Get the Receipt
Chase money order contains the amount that you want to transfer to the recipient’s account. However, if it isn’t mentioned there, consider adding the amount to the money order. Chase Bank will give you a receipt after filling out the money order,
Don’t lose this receipt; it has the number to track your money order. You can use this tracking number to track whether your recipient has cashed your money order. A tracking number can help you to replace the lost or stolen money order. However, Chase Bank charges a processing fee to apply for money order replacement.
What is the Chase Bank’s Money Order Fee?
Chase Bank charges a fee for buying and sending the money order. Thus, you must pay the fee to transfer the fund to the recipient’s account with a money order. A Chase money order cost varies depending on the checking account type you have,
Checking account holders at Chase Bank can buy money orders for up to $1,000. Do you have a Premier Plus Checking account in this national bank? Good news: Your Chase bank won’t charge any money order fee. The same goes for the Chase Secure Checking account.
Chase also doesn’t charge any money order fee for the Total Checking account. However, Chase bank customers with College Checking accounts must pay $5 when purchasing the money order. You must pay $5 if you have a Chase High School Checking account for purchasing money orders.
Why Should You Use Chase Money Order?
Many Chase Bank customers prefer a money order over a check as it offers more convenience. Transferring money to the merchant’s account is easier with money orders than other payment options. Moreover, a money order is a secure payment method which you can also send online.
Money order doesn’t provide any banking details to the recipient. However, adding your account number is essential in bank checks. Thus, most people use Chase money orders as the payment source to protect their confidential data.
What if your old refrigerator isn’t working and you must buy a new one? Arranging the cash for buying a new refrigerator might be difficult. Besides, you might feel uneasy carrying such a huge amount of cash. A Chase money order will be useful in such instances.
You can purchase high-priced items easily with a Chase money order. Thus, it removes the hassle of carrying cash or checks to retail stores. Furthermore, some merchants ask for a money order as a bank check can bounce. So, these are the practical reasons why you must use Chase money order instead of other payment methods.
