Question: Is A Money Order As Good As Cash?

Do I have to wait 24 hours to cash a money order?

If the money order was printed the same day, it’s not in the system yet and they won’t cash it.

You’ll have to wait 24 hours.

After that, it’s the same process as cashing a regular payroll check..

Do money orders clear immediately?

The cashier’s check and money order cleared the fastest — the money was immediately available since both of them are considered guaranteed funds. … It’s also safer than a personal check.

How much does it cost to cash a money order?

According to the fee schedule of US Post Office, you’ll pay $1.25 to cash a money order of up to $500, and $1.70 for one up to $1,000. The fee is just $0.45 for postal military money orders issued by military facilities.

Can anyone cash a money order?

If someone receives a money order, they can generally cash it through the organization that issued it, through a check cashing or other retail store or deposit it at a bank.

How much do money orders cost at CVS?

CVS sells money orders for $1.25 with a maximum amount per money order of $500.

How do I cash a money order made out to someone else?

To cash a money order, you’ll need to first endorse it by signing your name on the back. You will also need to provide identification no matter where you’re cashing your money order. If you don’t have any ID, you can endorse the money order to someone else, like a sibling or friend, who does have an ID.

Can I cash a money order at an ATM?

Where can I cash a money order? … Banks accept U.S. Postal Service money orders as they would regular checks at branches, ATMs or even on a banking app with a mobile check deposit function. Don’t forget to sign the back of the money order before depositing.

Are money orders easy to cash?

Bank. One of the easiest ways to receive your funds is to cash a money order at the bank. Consider cashing your money order at a bank where you already have an account so that you can securely deposit the funds immediately.

Are money orders deposited as cash or check?

Having a bank account can potentially save you money and time over the long term. Logistically, depositing a money order is the same as depositing a check. Endorse the back of the money order and list it separately (as a check) on your deposit slip. Use caution when using your mobile device to deposit money orders.

Do money orders lose value?

Short Answer: Money orders typically don’t expire; instead, the money order will begin to lose value when it’s between one and three years old.

Can I cash a money order at the post office?

Money orders are cashed for the exact amount on the order. You can cash a USPS money order at a Post Office for free. You can also cash them at most banks and some stores.

Can you cash a money order at Walmart?

Walmart will cash MoneyGram money orders. Check Cashing fees may apply. For purchases over $1,000 a valid government-issued photo ID is required. Buy money orders from a Walmart store in the amount needed.