Camp Hill, PA 17001, USA
1-800-922-8079
sales@memoco.com

Frequently Asked Questions about MEMO MONEY ORDERS: Get Answers Now

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We have compiled a list of MEMO Money Order questions agents frequently ask their sales representatives.

MEMO Money Orders

Who buys money orders

About one-third of all consumers purchase money orders. Traditionally, these consumers represent the “unbanked” or “underbanked.”

What is the maximum dollar amount for which a money order can be printed?

Money orders can be printed with face values of up to $500 or $1,000 depending on the maximum face value document selected. Contact our Sales Department for more information at 1-800-922-8079.

Can I void a money order?

Money orders can only be voided the same day they are sold. The customer must provide the original money order to void a money order.

Can I order new signs?

Yes, signs are available through our website, or by calling MEMO at 1-800-922-8079.

Do I need a dedicated phone line?

In most circumstances a dedicated phone line is not necessary.

What makes me a money services business?

You are generally considered a Money Services Business (MSB) if you sell or cash money orders for greater than $1,000 per day, per transaction of per person.

How many money orders can I sell?

Quantity is unlimited. Generally, lower-priced money orders attract more purchasers.

Where are MEMO Money Orders accepted?

MEMO Money Orders are accepted internationally although most are used domestically.

What do I do if a customer’s money order is lost or stolen?

Circumstances vary for lost or stolen money orders. Please call MEMO Customer Service for additional information at 1-800-922-8079.

May I pay vendors with money orders?

Yes however, to pay vendors, you must have authorized MEMO Money Order equipment utilizing a broadband connection. Vendors and weekly payment amounts must be pre-approved by our credit department. Please contact your sales representative or the MEMO Sales Department for additional information.

Who do I call if I have problems with my money orders?

MEMO maintains a Help Desk for equipment-related problems. Available hours are Monday through Friday from 8am to 5pm EST and the Help Desk can be reached at 1-800-922-8079.

Can I cash a money order?

Yes, however, it is strongly recommended that you verify the money order with MEMO prior to cashing.

How much money can I make selling money orders?

Sell more, earn more! More sales will increase your revenue. For marketing tips, contact your MEMO Sales Representative.

Can I change my retail money order sale price?

Yes, the money order retail fee can be changed but must be done by contacting your MEMO Sales Representative. Lowering your retail sales fee will generally increase store sales.

Do I need a broadband connection?

Yes, a broadband connection is highly recommended for maximum speed and efficiency.

As an agent, how must I comply with anti-money laundering guidelines?

All Money Services Businesses (MSBs) are required by the Federal government to comply with Anti-Money Laundering (AML) policies/Bank Secrecy Act (BSA) regulations and the USA Patriot Act. Visit the AML Compliance section of our website for more information.

How can I increase my money order sales?

There are several ways to increase money order sales. Lower retail fees, adequate signage, marketing and properly trained employees are key to improved sales.