How Do I Cash a Money Order?
While the purchasing and sending of a money order is a relatively straightforward process, some recipients may find it difficult to cash a money order, especially if they do not have bank accounts of their own. Trying to cash a money order from a foreign country can be even more problematic and expensive. There are several accepted ways to cash a money order, although each outlet has the right to charge its own fees or place other restrictions for the privilege. The United States Postal Service (USPS) can issue official postal money orders at most of its local branches. The sender requests a specific cash amount for the face value of the money order, pays a nominal fee, and then enters a recipient’s name before mailing it. The recipient can cash a money order issued by the USPS at his or her local post office branch. Sometimes a trip to a larger post office or another city may be in order, however. Especially large money orders may be difficult to cash at the beginning or end of the wo
In US: 1. If USPS money order, go to the post office. The only time it’s an issue is if the MO is for $100s of dollars as the PO may not have that much money on hand. 2. If it’s not a USPS money order, deposit it into your checking account just like a check. Allow 10-14 days to clear before assuming it won’t bounce. (Real money orders don’t, fake ones do. Fake ones are sent by scammers who hope you will “refund” money to them before you find out they are stealing from you.) I prefer USPS money orders when I sell things because I don’t have to wait for them to clear. When I buy something on eBay with an established seller who wants an MO, I do the same for them–usps mos cost more than wal-mart ones….
