Best Way and Company for Money Order Client.

[SevenDeuce]

So i actually have my first money order for Settlers. From a guy at church.

He gave me the cash to get the money order. I feel like a newb , but I really don't know what to do now. I went and got it today.

Do I just fill it in and sign it myself? Then mail it in to Settlers?

He needs to sign the MO.

 

[WinoBlues]

That. It is his money, so his money order.

Where this can get sticky is if they have declined.

 

[Gooner]

That. It is his money, so his money order. Where this can get sticky is if they have declined.

It was Settlers. Had to do a POS and must have gotten accepted....oh wait, it's Settlers they might still get declined...lol

 

[Newby]

So i actually have my first money order for Settlers. From a guy at church. He gave me the cash to get the money order. I feel like a newb , but I really don't know what to do now. I went and got it today. Do I just fill it in and sign it myself? Then mail it in to Settlers?

You have to make it clear that it's his money, not yours. It won't fly if it's coming from you.

 

[rousemark]

Just curious. Since when do you "sign" a money order? I always used USPS and while you fill out the remitter's name and address (the insured), it does not have to be signed. If you have an agency checking account, Settlers will accept a check drawn on that account on behalf of the proposed insured.

 

[Agentguy5]

So i actually have my first money order for Settlers. From a guy at church.

He gave me the cash to get the money order. I feel like a newb , but I really don't know what to do now. I went and got it today.

Do I just fill it in and sign it myself? Then mail it in to Settlers?

In Florida it's illegal to take cash and get a money order for the life insurance client.

I have driven clients to the local store and had them get the money order on more than one occasion.

 

[VolAgent]

In Florida it's illegal to take cash and get a money order for the life insurance client.

I have driven clients to the local store and had them get the money order on more than one occasion.

If not illegal, I believe it is frowned upon in just about every state and by every company. Debt and P&C are about the only times I believe you are allowed to accept cash.

I imagine it is one of those things that everyone will ignore until there is a problem and they will make it into a huge problem.

Finally, which the amount is small and I'm sure it isn't the case, I believe you are also going against AML regulations. You are hiding the source of funds for them.

 

[Monkeyonabicycle]

NEVER Take cash.....Too easy to get blamed when you may be innocent

 

[PaperHanger]

No one is innocent...The term is "Not Guilty"

;-)

 

[rousemark]

If not illegal, I believe it is frowned upon in just about every state and by every company. Debt and P&C are about the only times I believe you are allowed to accept cash.

I imagine it is one of those things that everyone will ignore until there is a problem and they will make it into a huge problem.

Finally, which the amount is small and I'm sure it isn't the case, I believe you are also going against AML regulations. You are hiding the source of funds for them.

No AML violation.. You aren't hiding the money.. Their name goes on then money order as the remitter.

I have a brilliant idea.. must have been hit in the head with a hammer.. .. Why not call the company and tell them you are collecting the first months premium in cash for a direct bill application and ask how they want you to remit the money?