Can I Cash Out A Money Order

Primal takeaways

A money order is a safe alternative to cash or a personal check; it works like a check so you can greenbacks it or deposit it into a banking concern account.
When using greenbacks or personal checks put you at run a risk, or they aren't accepted for payment, you tin use a coin order instead.
You lot can employ cash or a debit menu to buy money orders at the post role, Walmart, Western Union and your bank or credit union.

How do money orders work?

A money order is a slice of paper that's a condom alternative to greenbacks or personal checks. You specify who will receive the money order, and both you and that person must sign information technology for it to be valid, which cuts downward on theft.

You also prepay for a money order , at a location such as a U.S. postal service office, Walmart or Western Union. Go along in listen that many have a $one,000 limit, including those that you buy at banks.

How can I buy a money order?

Have everything you demand: Be prepared with cash or a debit card, the proper noun of the payee and the amount y'all want to send. Paying with a credit carte might be possible, merely will usually cost extra.
Fill it out: In add-on to the payee's name, you lot'll need to add your name (and maybe your address) and sign the money order. (For step-past-footstep instructions, bank check out NerdWallet'south guide on how to fill out a money order .) Be careful to ensure that everything is accurate considering you lot won't be able to change the information afterward.

Proceed the receipt: The receipt will be a carbon copy of the money gild or a newspaper slip recording the information entered on the money order.
Track your money club: Your receipt will also take a tracking number that you tin apply to verify that the money order got to the intended recipient. If whatsoever problems arise, contact the place where you bought the money order to go assistance.

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Where can I go a money gild? How much does a money lodge cost?

Domestic money orders have a range of costs, from nether a dollar up to effectually $5, depending on where you buy them. You'll get a ameliorate deal at Walmart or a convenience store or supermarket, and you'll typically pay more at a bank.

Non all providers offering international money orders; some postal service offices do, but they cost more than, although there's a disbelieve for those purchased at armed forces mail offices. And no affair where you buy them, it's safer to buy in person.

Provider	Cost
Walmart	Upward to 88 cents
Money transfer agents (convenience stores, supermarkets, etc.)	Depends on the provider. For instance, San Francisco-area Western Matrimony providers ofttimes charge around $1.
U.South. Postal Service	Upward to $500: $i.25 $501-$1000: $1.70 Military money orders: 45 cents International (up to $700): $x.25
Banks and credit unions	Depends on the financial institution. Often around $5.
In the market for a provider? Here are our all-time ways to ship money .

What does a money gild cost at some of the biggest U.S. banks?

Note that many banks will simply sell money orders to accountholders.

Bank	Details
American Express® National Depository financial institution, Member FDIC 4.v NerdWallet rating	Money orders not offered.
Depository financial institution of America 3.5 NerdWallet rating	Money orders non offered.
Hunt three.5 NerdWallet rating	$v for up to $one,000; free for premium accounts. Must be purchased in a branch.
Wells Fargo 3.5 NerdWallet rating	$5 for upward to $i,000. Must be purchased in a branch.

+ Click here for more banks and what they accuse

A smart way to monitor your money

Rail your greenbacks, cards, and bank accounts all at the same time.

Can I purchase a coin social club with a credit menu?

Some outlets allow you to buy a coin order with a credit card, only others don't, including Walmart and the U.S. Postal Service. In those cases, you'll have to utilise a debit carte or cash to buy a money order.

Even if the provider y'all choose does let you pay with a credit card, it'll exist much cheaper non to. That'southward because credit card issuers typically care for money orders every bit cash advances, charging a fee based on the amount of the transfer — frequently iii% to five% — and assessing interest immediately. That interest rate might exist greater than the rate you'll pay on a normal purchase.

When should I use a money order?

In that location are times when using greenbacks or personal checks can put you at risk, or they aren't accepted for payment. Hither are four examples of when money orders are the all-time payment method:

Yous need to transport money securely. Unlike checks, coin orders don't include your banking company account number, and they help ensure that only the recipient tin apply it, unlike mailing cash.
You don't have a checking account. Since money orders require you to pay in advance, you don't need a bank account and you tin still pay bills safely. Another option: One of NerdWallet's all-time prepaid debit cards for regular purchases.
You're worried about billowy a cheque. Considering money orders are prepaid, they tin can't exist rejected for bereft funds. Some other option: A certified check or a cashier's check, both of which guarantee payment and don't necessarily have a $i,000 limit, unlike many money orders. ( Read up on certified checks and find out more virtually cashier's checks .)
You're sending money internationally. Not all money orders work abroad, but U.S. Post money orders tin can be sent to about 25 countries. Some other option: A wire transfer, if you need the coin at that place faster and are willing to pay more. Or cheque out our best means to transport money internationally .

Where tin can I greenbacks a money order?

Your best bet is to cash a coin order at the aforementioned entity that issued it, whether that's a banking company branch, mail service office or other location. Check-cashing locations, convenience stores and grocery stores tin be alternatives, but watch out for fees. Wherever you become, y'all'll probably need to prove identification.

If you don't need the money right away and you have a bank account, consider depositing information technology. Banks accept U.S. Postal Service money orders every bit they would regular checks at branches, ATMs or even on a banking app with a mobile cheque eolith function. Don't forget to sign the back of the money guild before depositing.

What practise I do if I lost a coin order?

If you no longer have the money club or y'all made a mistake on information technology, you may be able to cancel it and get a replacement or refund — as long as the coin order hasn't been cashed.

You'll need to bring your receipt and the money guild itself, if you take it, to the identify where it was purchased. The issuer volition probably have you fill out some paperwork, using information from your receipt, and you'll likely pay a fee. For example, Western Union charges $15 to replace a money society. And it can have a month or longer for the issuer to process your claim.

If the coin order was cashed, you may yet be able to go your money dorsum, but you'll more often than not have to involve the police.

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Coin club tracking

It's relatively simple to detect out where a coin order is — equally long every bit yous've kept your receipt. Only the process varies slightly by issuer. The U.Due south. Post, MoneyGram and Western Union allow you to track online with data such as the serial number plant on your receipt and the purchase amount. Your bank should be able to provide you with the same information.

Without the receipt, you'll likely have to file a research request to find your money order's serial number, and that's expensive and time-consuming. At MoneyGram, for case, information technology costs $40 and can take 60 days to procedure.

Just be sure to track the money order with the actual provider — it might be Western Marriage or MoneyGram even if you purchased it at a convenience store.

Are money orders rubber?

Money orders are typically a condom payment method, only they tin can likewise exist used fraudulently. To protect yourself:

Endeavor non to substitution money orders with strangers. This isn't ever possible, only if you can, inquire to be paid electronically or via another ways.
Watch for red flags. These might include sending actress money dorsum to someone who claims they've paid likewise much, or visual cues, such as missing watermarks or amounts more than than $ane,000.
Verify the funds. If yous can't cash the money lodge at the place that issued information technology, call the issuer's official, publicly available phone number to find out if the certificate is legitimate.