How do i cash them? Knowing this in advance can save you a trip. For instance, the post office cashes USPS money orders for free. Why do I have to pay to cash a money order? Some of these places also let you cash other forms of payments. But, by cashing the money order instead of just returning it to MoneyGram, you are risking a misdemeanor charge punishable by up to 6 months in jail, up to a $1,000 fine, or both. Since grocery stores do a high volume of business, even in more rural areas, they typically keep more cash on hand. In fact, some larger retail stores, especially grocery stores, have Western Union or MoneyGram services available at the customer service desk, so you might be able to cash your money order there for free. Endorse the back of the money order and list it separately (as a check) on your deposit slip. Banks and other companies that cash money orders typically will accept a driver's license, passport, or other valid government-issued photo identification. I found out i actually owe less than what the money order is for. For example, USPS money orders are generally free to cash from the USPS. wikiHow is where trusted research and expert knowledge come together. Please consider supporting our work with a contribution to wikiHow. However, the bank has the right to refuse it for a person who is not its client. Like banks, each credit union can have its own individual policies, restrictions, and fees for cashing money orders (particularly for non-customers), so it’s worth … Those fees can add up, especially at check-cashing stores and convenience stores, which often have higher fees and typically don't make it clear how much they charge. Keep in mind that some banks have a maximum amount they will cash, so if you’re money order is for over 500 dollars, check the … This includes signing the back of the check and presenting a valid photo ID. X Here's Where to Buy One, Everything You Need to Know About Cashier's Checks, How the Underbanked Get by Without Banks and Credit Unions. Cashing a money order from a foreign country is even harder and can cost you more money. By signing up you are agreeing to receive emails according to our privacy policy. The money order is still good unless it says otherwise on the face. The hours of operation also come into play. However, depending on who issued the money order, it may be a day or two before you can access the funds. For example, at most Walmart stores, you can cash a money order issued by MoneyGram for a maximum fee of $4 if the value is $1,000 or less or a maximum fee of $8 if the value is $1,001 to $5,000.. Cashing A Money Order How Much do you NEED! Do You Know How Much a Money Order Costs? If they tell you something different than what you've already found out, ask about it. Logistically, depositing a money order is the same as depositing a check. Some banks and check-cashing stores also may request your right thumbprint next to your signature on the money order. Alternatively, find one that doesn't charge to cash it but gives you a worse rate, meaning they're charging you invisibly. The sender has already paid for the money order so there’s no added expenses when cashing a money … To cash your money order, bring it to a bank along with some ID. It's because the institution is providing a service, whereas if there was no charge, there would be no way to make a profit. Step 1 Visit your bank. Accessed Jan. 14, 2020. It’s pretty easy to do as well. Step 2: Decide where you’d like to cash your money order. Cashing A Money Order $100-$1000 Online Payday. Need a Money Order? How do I go about cashing the second one to get my money back? If you don't have a business checking account, ask buyers to … {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/2\/2c\/Cash-Money-Orders-Step-1-Version-4.jpg\/v4-460px-Cash-Money-Orders-Step-1-Version-4.jpg","bigUrl":"\/images\/thumb\/2\/2c\/Cash-Money-Orders-Step-1-Version-4.jpg\/aid1373842-v4-728px-Cash-Money-Orders-Step-1-Version-4.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"