Information on Cashing a Postal Money Order

Cashing a postal money order is a simple process.

Named United States Postal Service (USPS) postal money orders are an efficient and cheap way to send cash through the post while minimizing the chance that it will be stolen. Although it's possible for a third party to intercept your order before it's delivered, anybody trying to cash it would usually need to present identification. Once you have received your order, converting it into money is a straightforward process.

Redemption

All USPS postal money orders can be cashed at U.S. Post Offices and banks subject to cash availability. Smaller post offices might not have enough funds to honor larger payments, in which case the recipient may need to visit a larger facility or arrange to have their order cashed in advance. Domestic money orders will be paid regardless of the date they were issued but do not accrue interest from their issue date.

Signature

The recipient of a money order must sign in the presence of a USPS employee when presenting it to be cashed. The person signing for the money must be the named payee on the money order. An order made out to a "business firm, an organization, society, institution or government agency" will need to "be signed in the name of the organization by an authorized representative." Any individual presenting such an order may be required to produce proof of their authority.

Identification

If the recipient is not known to the postal staff present, identification may be required. Anybody who attempts to cash money orders exceeding a face value of $10,000 in any one day, irrespective of the number of orders presented or the number of post offices visited, will need to present valid photo identification bearing their name and address and complete form 8105-A, a funds transaction report. Most banks will require government-issued photo ID to cash a money order.

Multiple Payees

If an order is presented with more than one payee stipulated, all listed payees must endorse it or be present when it is cashed unless the conjunction "or" is used to link those named. These are the only circumstances under which an order may be endorsed by more than one individual.

References

• United States Postal Service: Money Orders