Introduction
When you start ramping up on money orders, you will get tired of filling in your name, possibly address, and signing the back of the money order. I mean, let’s try to shave off the 5 seconds in writing my name, right? I had heard the HH (heavy hitters) had bought a name and address stamp back in the day, but I never got around to it just because I wasn’t doing that much MO volume and didn’t see the need. However, now that I got one for myself, I’m kicking myself for not buying it a long time ago. It would be like doing GC-churning without a scotty peeler.
Do I have to write my address on the money order?
Technically yes, but it’s very much bank YMMV. My local CU doesn’t seem to care, so I just write my name and sign the back. I also deposit into the ATM and not a teller because this CU has decided ALL monetary transactions have to be done by the ATM (yes, that’s right, there are no tellers at the bank at all.) A reader has told me his bank requires address, but that’s because they are depositing with a teller. So it’s very YMMV.
Which stamp should I buy?
A reader recommended this 4 line self inking address stamp from Amazon. It was the cheapest stamp for $7.95. While you can have 4 lines, I chose to only use 3 lines because my money order only has 3 lines.
Which money orders can I use it on?
For money orders that have 3 line addresses of course.
What else can I use it for?
For its intended use of course – to stamp your return address on envelopes. This assumes you don’t already have a stack of labels from charities trying to blackmail you into donating for a nickel.
What happens if you run out of ink?
You buy a new ink pad. It might be cheaper just to buy a new one though.
Is it worth $8?
I don’t know. When you have a stack of money orders, do you go, “Ugh…I hate filling those out.” BOOM! You should buy!
I’ve had stamps for ages now.. I had them printed with the names and addresses of banks (stamp envelopes), and one with my name and PO Box for the outgoing address and to use on MO. Regardless of WU or MG I just stamp once on the signature line and once on the address line. I’ve saved (collectively) hours over writing everything by hand.
+1 been using it for the last 2+ years.. I got mine from eBay and was able to send them a template with spacing – perfect for the type of MOs I get from a Cincinnati company.
Oh, and I also have 1 with my name in italics that I use for signature field..
Now that’s hard core. I think I’ll look into the signature stamp next.
@pointsrus:disqus how do you create a template with the spacing ? Will you be able to share the template ?
First check if your bank accepts MO with just name filled out (without address, etc).
In that case, just get a rubber stamp for your name – no template needed.
In my case, I told the ebay seller that I want something like this – for a 5 line stamp.
name
address
I need to find a way to lower my fee costs for the vGC-> MO-> Bank route before I start looking for rubber stamps.
What is your cost per point now Ken?
$0.011, but that doesn’t include gas or time running around. Of course, I’m really slow with work this time of year so it’s not a big deal for my time. I’m afraid to load any cards in fear of shutdown, so MOs are the safest route for me right now. What’s your usual cpp?
You are grossly overpaying. My cpp is $.004. Email me.
me too. i am around the same ballpark. need advice too..will email you.
Ooo,,could I get in on this email as well? Apparently I’m missing something(s).
Pls share with me as well. I’m only at $0.006. Getting a lower cost is key. Thank you.