How to Cash a MoneyGram Money Order
MoneyGram is the nation's largest processor of money orders. Money orders offer a convenient way for customers to pay bills without the need for a checking account. They also give customers the assurance that their money will be secure. After receiving a money order, there are two main ways you can cash it. First, you can deposit the money order into your bank account. Or, if you don't have a bank account, you can cash it at a local check-cashing location.
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Instructions
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Cashing at Your Bank
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Take the money order to your bank after signing your name on the back of it.
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Present the money order to the bank teller. Tell the teller you'd like to either deposit or cash the money order. Some banks may require you to have the available funds in your account so you can cash the money order outright. Others may let you cash it regardless of the amount in your account.
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Pay any fee for the transaction that your bank requires, depending on its policies.
Using a Check-Cashing Location
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Sign your name on the back of the money order.
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Find a MoneyGram check-cashing location. Go to MoneyGram's official website and search for a MoneyGram location in your area. All MoneyGram locations can cash your money order. Another option is to take it to your local Walmart. Walmart offers MoneyGram services in all of it stores.
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Go to the MoneyGram check-cashing location of your choice, and tell the customer service representative you'd like to cash the money order.
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Tips & Warnings
Credit unions typically have lower fees than regular banks do. If you're a member of a credit union, there's a good chance you'll be able to cash a MoneyGram money order for free.
References
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