\u00a9 2023 wikiHow, Inc. All rights reserved. But not every office can cash money orders, so check ahead of time to avoid wasting a trip. With over 30,800 post office retail locations in the United States, there's bound to be one near you. Go to a Place That Cashes Money Orders. It has a specified recipient, and, like a check, it always includes an indication of how much the recipient is supposed to get. 7> Money orders are cashed only in the exact amount imprinted up to the authorized maximum amount. If the money order is payable to a minor, the father or mother, as natural guardian, must provide a photo-bearing identification and sign the money order. In most cases, this fee can simply come out of the amount of cash you receive. If you don't have a CVS local to you but you have a Rite Aid, you can buy a money here. Money orders can be purchased with cash or a debit card at banks and credit unions, check-cashing businesses, the U.S. We will incorporate these revisions into the next printed editions of Handbook F-1 and the DMM and into the next update of the online versions accessible on the Postal ServiceTM PolicyNet Web site: Then click on HBKs for the F-1 and Manuals for the DMM. Write the name of the recipient, the person whom you are paying, in the "pay to" or "pay to the order of" field. Last Updated: October 2, 2022 Money orders It's a fast, safe and affordable option for paying bills, sending money to family or friends, or paying for items purchased online or in a private sale. The employee must record the identification number on the face of the money order. Cashing a Money Order at the Post Office Do not sign the money order. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Because they're widely accepted as the equivalent of cash, money orders are a popular means of making payments around the worldbut that also makes them a favorite tool of con artists and forgers. Annual percentage yield (variable) is as of 02/06/2023. You can also cash them at most banks and some stores. No bank account required to send or receive a money order. You dont have a checking account. Options include a drivers license, a passport, or a military ID. g. Money orders payable to a business firm, an organization, a society, an institution, a government agency, a corporation (LLC or other), or a partnership may not be cashed at Post Offices or postal retail units. Just keep in mind that credit card companies consider the purchase of a money order to be the equivalent of a cash advance, so the transaction will trigger an expensive fee and a high interest rate will take . when you buy it. Trusts (where a trustee wants to cash savings bonds) You can get your cash for an EE or I savings bond any time after you have owned it for 1 year. On the right of the Franklin watermark, a vertical, multicolored thread with the letters USPS weaves in and out of the paper to (circle 2 on image). Accounts must have a positive balance to remain open. Maximum amount per money order -$999.99. The employee must record the identification number on the face of the Treasury check. Disclaimer: NerdWallet strives to keep its information accurate and up to date. 4> Request to see photo-bearing identification that also contains the customer's signature (see section 312.3). Any Post OfficeTM, retail unit, or PostalOne! Be careful to ensure that everything is accurate because you won't be able to change the information afterward. Check out our list of common questions and answers. Domestic postal money orders are cashed at Post Offices and postal retail units regardless of the issue date. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Kathleen served as an adjunct faculty member at the McCallum Graduate School at Bentley University from 2009 to 2019 and currently teaches at Champlain College. Download your PDF, DS-82: Renewal Application Money ordersat all locations, payable as instructed by the facility. If no conjunction is used, then all listed payees must sign the money order in the presence of the accepting employee and provide photo-bearing identifications (see section 312.3 of Handbook F-1, Post Office Accounting Procedures). Your annual percentage yield can be as high as 3.30% based on the following combined rate rewards: direct deposits (not including intra-bank transfers from another account) totaling $1,500 or more each month will earn 0.40%. (, Not all money orders work abroad, but U.S. Our trained team of editors and researchers validate articles for accuracy and comprehensiveness. International Money Orders Both crossed and uncrossed postal orders are ordered at and sent from post offices. 6> The employee may accept the verified signature of the payee or purchaser shown on the money order with exceptions for the following conditions: a. When your money order is confirmed lost or stolen, well issue you a replacement money order. Postal Military Money Orders cost $0.50 regardless of the amount being sent., You can send money to 26 countries using a USPS money order; the full list can be found here.. More in-depth information and procedures regarding refunds, transfers of funds, and trust account withdrawals can be found in the Postmaster/Field Guide under "Refunds Quick Reference Guide," or under "Trust Account Customer Activities." If youve been sent a postal order, it means that someone has prepaid that amount of money with cash or a debit charge. You can also take it to the money order issuer. If any problems arise, contact the place where you bought the money order to get help. Many have a $1,000 limit, including those that you purchase at banks. Watermarks of Ben Franklin on the left side repeat top to bottom (circle 1 on image). In this article, we'll see which one is the better one between Western Union vs PayPal. Is this a safe form of payment? Postal Orders A quick and easy way to send money without a bank account Send up to 250 safely and securely without needing a bank account Key benefits Send money from as little as 50p Pay your bills or shop by mail order No need to share your financial details How it works Rural carriers may cash money orders if they have enough money on hand. All Rights Reserved. Must be purchased in a branch. 2023 Money Crashers, LLC. VMFs should make every effort to provide vehicle repair parts during servicing. .) A customer who cannot write may sign by using a mark and a non-Postal Service employee witness will provide a photo-bearing identification (see section 312.3) and sign the money order. These fees vary depending on where you buy. The U.S. The following is an outline of Postal Service policy and minimum requirements for cashing Treasury checks: 2> Request to see photo-bearing identification that also contains the customer's signature (see section 312.3). When you purchase through links on our site or newsletter, we may earn affiliate commission. A money order addressed to more than one payee is paid to either payee if the conjunction "or" is used to connect the payees. Do not cash the check if the signatures do not match or if the money order appears altered.