You can always get a money order cashed at a branch of the bank or company that issued the money order. If there’s a branch near you, that may be your best bet. If the money order was issued by a bank and you don’t have a branch of that particular bank nearby, you still may be able to get the money order cashed at a different bank.
It’s always good to call a nearby branch and ask them. Large companies and banks with many branches may have different fees depending on the location.
Particularly in small towns and rural areas, call ahead to the specific location you plan to visit. Especially if your money order is for more than a couple hundred dollars, they may not have the cash on hand to cash it. Knowing this in advance can save you a trip.
For example, if you can only cash the money order in the evenings, you may be limited to grocery stores or check cashing stores. Grocery stores typically will have lower fees than check cashing stores.
You might want to identify backup locations as well, in case the one convenient to you is unable to cash your money order. If your money order is for a large amount, call ahead. If they think they may not be able to cash it, they may be able to let you know who could do it.
Since grocery stores do a high volume of business, even in more rural areas, they typically keep more cash on hand. Even though the grocery store may be open 24 hours, they may not cash money orders at all hours. Check with the specific location to make sure.
There are other limitations with using the Post Office, however. Their hours are limited, and if you live in a small town or rural area, the Post Office may not have the cash on hand to actually cash your money order – especially if it is for a large amount. Call ahead to the location if you have any questions about cashing your money order there.
For example, suppose you receive the money order and it was damaged in mailing and is torn. It’s possible that a company or bank would cash it, but you may need to get it replaced. If you lose your money order before you can cash it, contact the sender as well as the bank or company that issued it as soon as possible.
Banks and other companies that cash money orders typically will accept a driver’s license, passport, or other valid government-issued photo identification. Some banks and check-cashing stores also may request your right thumbprint next to your signature on the money order.
If they tell you something different than what you’ve already found out, ask about it. For example, you might say “Are you sure the fee will be $7? Your website said it would only be $4. " It’s best not to sign the money order until you are ready to hand it over to cash it. If you’ve already signed it and it falls into the wrong hands, they could potentially cash it. Additionally, the place that cashes the money order may want to compare the signature to the one on your ID. If you have a checking or savings account at a bank, you can deposit most money orders. However, depending on who issued the money order, it may be a day or two before you can access the funds.
The cashier or teller will likely count the money back to you, but you should count it yourself as well to make sure it’s all there. If you deposited the money order in your bank account, you typically can also receive at least a portion of it back in cash.
When your recipient cashes the money order, the name on the money order will need to match the name on their ID. Ask them about this, especially if, for example, their name has recently changed as a result of marriage or divorce. They may not have updated their ID to reflect the change.
It’s generally a good idea to avoid check-cashing stores if at all possible. Although they may be the most convenient, they typically charge the highest fees. The hours of operation also come into play. If you aren’t going to be able to get the money order until late at night, for example, you may not be able to use the places with the lowest fees.
When you’ve found the specific location, it’s worth calling in advance to confirm any information you already know. Fees and hours may vary depending on the specific location, especially in more rural areas.
In most cases, your best bet will be to pay for your money order with cash, personal check, or debit card. Some money order providers accept a credit card for the purchase of money orders, but doing so may result in additional fees from your credit card company. Only purchase a money order with a credit card as a last resort.
Don’t send the receipt along with the money order. If the money order is lost or damaged, the receipt likely will be too, and then you’ll be unable to do anything.
