How to Cash a Money Order
A money order is considered "as cash" at most banks and businesses, so it is generally easier to cash than a personal check. That's why many companies specifically ask for mail-order payments with a money order or certified check. In some cases, you may even be able to use your money order to make a direct purchase. So if you're attempting to cash a money order you just received, plenty of stores in your area can accommodate you. All you need is valid state identification.
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Instructions
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Go to a check-cashing store. As long as the clerk can verify that you are the person the money order is made payable to and that it is a valid U.S. money order, he will cash it for you.
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Cash the money order at your bank. A representative at a bank where you hold an account will cash a money order against your balance. You usually have to have enough cash in the account to cover the money order in case of a problem.
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Determine the name of the company that issued the money order and find a business near you (usually a supermarket or discount store) that issues money orders for the company.
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If the money order was purchased at a U.S. post office, you can cash the money order at any post office as long as you have identification.
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Tips & Warnings
If you don't have an account at a bank, you can sign the money order over to a friend or family member who does. You will then need to go to the bank together to have it cashed.
Beware of scams involving money orders.
References
Resources
- Photo Credit Cash image by Greg Carpenter from Fotolia.com
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Comments
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Actually this is no longer true. I received a CVS money order and went to several stores that sold them. Their new policy is to no longer cash them. Same with Wells Fargo. Right now the only way to cash them in most places is if you have a bank account with a balance to to cover it. Apparently money order fraud is rampant. I no longer accept money orders from my clients at all.
