What is Altered on a Money Order?
Money orders are a popular method of payment, often used when personal checks are not an option. They are essentially a pre-paid check, purchased from a financial institution or authorized vendor. However, it is crucial to understand that any alterations made to a money order can render it invalid. This article will delve into the specific aspects that can be altered on a money order and the potential consequences of such alterations.
1. Payee Name
The most common alteration on a money order is changing the payee name. The payee is the person or entity to whom the money order is made payable. If someone alters the payee name, it is considered fraudulent. The original payee must endorse the money order to transfer the funds to another party, but any changes to the payee name without proper authorization are illegal.
2. Amount
Another alteration that can render a money order invalid is changing the amount. The face value of a money order is printed on the document, and any changes to this amount are considered alterations. This includes adding or subtracting digits, crossing out the original amount, and writing a new amount in its place. It is important to note that altering the amount is also considered fraudulent and can lead to legal consequences.
3. Date
The date on a money order indicates when it was purchased. While it is possible to alter the date, it is not recommended. If the date is altered, it may raise suspicion that the money order was not purchased on the stated date. This can lead to the financial institution or vendor refusing to honor the money order. It is best to use the date of purchase as printed on the money order.
4. Endorsement
Endorsements are used to transfer the funds from the original payee to another party. However, altering an endorsement is considered illegal. This includes adding names, crossing out names, or making any other changes to the endorsement. Any alterations to the endorsement can result in the money order being invalid.
Conclusion
In conclusion, what is altered on a money order can have serious legal implications. The payee name, amount, date, and endorsement are the most critical elements that should not be altered. Any changes to these aspects can render the money order invalid and lead to legal consequences. It is essential to handle money orders with care and avoid making any alterations to ensure their validity and legal acceptance.
