Money orders are a reliable way to send money, especially for those who prefer not to use credit cards or bank accounts. A common question for recipients is: Who Does Money Orders? Luckily, cashing a domestic money order is straightforward and accessible at various locations. Unlike personal checks, money orders don’t bounce, as the funds are prepaid. They also never expire and do not accrue interest, holding their exact value until cashed.
You can confidently cash USPS money orders, among others, at multiple convenient places. Let’s explore where you can easily access your funds from a money order.
Cashing Your Money Order at the Post Office
The U.S. Postal Service (USPS) is a primary place to cash money orders, especially USPS-issued money orders. This is often the most direct and sometimes free option.
- Don’t endorse the money order yet. Wait until you are at the counter.
- Bring your money order and a valid primary photo ID to any Post Office location. You can easily find the nearest location using the USPS Find Locations tool. Acceptable primary photo IDs are detailed on the USPS website.
- Sign the money order in front of the retail associate at the counter. This validates the money order in their presence.
For money orders payable to organizations, multiple people, or minors, there might be additional requirements. It’s always best to check the official USPS guidelines on cashing money orders (DMM 509.3.3) for complete details.
Banks and Credit Unions: Another Option for Cashing Money Orders
Many banks and credit unions also cash money orders. If you have a bank account, this can be a very convenient option.
- For Account Holders: If you have an account at a bank, cashing a money order is usually simple. Banks readily cash money orders for their customers, often with no fee. You can typically deposit the money order directly into your account or withdraw cash.
- For Non-Account Holders: Some banks might cash money orders for non-customers, but this is less common and might involve fees. It depends on the bank’s policy and the specific money order. It’s advisable to call ahead and ask about their policies on cashing money orders for non-account holders.
Retail Stores: Convenient Cashing Locations
Certain retail stores and check-cashing outlets also provide money order cashing services. These can be handy due to their extended hours and widespread locations.
- Large Retailers: Many large grocery store chains, big-box stores, and even some pharmacies cash money orders. Walmart, for example, is a well-known retailer that cashes money orders. These stores usually charge a fee for this service.
- Check Cashing Stores: Check cashing stores are specifically designed to provide quick access to cash, and money orders are part of their services. However, they typically have higher fees compared to other options.
When choosing a retail store, consider the fee they charge and ensure it is a reputable establishment to avoid any issues.
Rural Carriers: Cashing in Remote Areas
In some rural areas, USPS rural carriers may also cash money orders if they have sufficient cash on hand. This can be a helpful option if accessing a Post Office or bank is difficult. However, this is not a guaranteed service and depends on the carrier’s cash availability.
Checking the Status of a Money Order
If you need to verify if a money order has been cashed, or if you are the purchaser and want to track it, the USPS provides an online tool. You can check the status of a USPS money order anytime by visiting the Money Orders Application.
Make sure you have the following information from your money order to check its status:
- Serial number (This is crucial for tracking)
- Post Office number (Where it was purchased, if applicable)
- Dollar amount
Replacing Lost, Stolen, or Damaged Money Orders
It’s important to know what to do if your money order is lost, stolen, or damaged. While you can’t stop payment on a postal money order, you can request a replacement.
Lost or Stolen Money Orders
If your money order is lost or stolen, you need to act to get it replaced.
- Confirmation of loss or theft can take up to 30 days.
- The investigation process can take up to 60 days.
- There is a $20.15 processing fee to replace a lost or stolen money order.
To start the replacement process:
- Take your money order receipt to any Post Office location. The receipt is essential proof of purchase.
- Speak to a retail associate and initiate a Money Order Inquiry.
- You can track the inquiry progress and the status of your money order online using the Money Orders Application.
- If the money order is confirmed lost or stolen, USPS will issue you a replacement money order.
Damaged Money Orders
For defective or damaged money orders, USPS will also provide a replacement.
Bring the damaged money order and your receipt to your local Post Office to get a replacement. They will assess the damage and process a replacement for you.
Conclusion
Knowing who does money orders and where to cash them provides financial flexibility and peace of mind. From Post Offices and banks to retail stores and even rural carriers, you have various options to access your money order funds. Remember to keep your money order and receipt safe, and utilize the USPS online tools to check status or request replacements if needed. This guide ensures you can confidently and conveniently handle money orders.
