Money orders can be cashed by individuals at various locations, typically where the money order was purchased or at financial institutions and retailers that handle money orders. Here are the main places and conditions for cashing money orders:
- Post Offices: USPS money orders can be cashed for free at any post office
- Banks and Credit Unions: They often cash money orders, especially for their own customers, usually without fees. If the money order was issued by the bank, they are more likely to cash the full amount immediately
- Retailers: Places like Walmart, which issue money orders, also cash them. It is best to cash a money order at the issuing retailer or a location within the same company to avoid fees and ensure full payment
- Money Transfer Services: Western Union and MoneyGram locations both sell and cash money orders. However, not all Western Union locations cash money orders, so calling ahead is advised
- Check-Cashing Stores: These stores often cash money orders but may charge higher fees
To cash a money order, you must endorse it by signing the back and present valid government-issued photo identification such as a driver’s license or passport. Fees may apply depending on the location, but banks and credit unions usually waive fees for their customers
. In summary, money orders are cashed by the recipient at post offices, banks, credit unions, retailers like Walmart, money transfer outlets such as Western Union, and check-cashing stores, with the best option often being the issuer or the recipient’s own bank to minimize fees and ensure full payment
