Money Order Question

Discussion in 'Et Cetera, Et Cetera' started by D_Roderick Beresford Stiffington IV, Dec 8, 2007.

  1. D_Roderick Beresford Stiffington IV

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    I have a US Post Office money order for about $400 which says "Paid to" my mom's name. She signed the back of it and thinks I might be able to take it to her bank, fill out a deposit slip and then deposit it into her account. Does anyone know if that's possible? I was told by a friend's father who works for the post office that if you cash it there, you need to be the person who its made out to with two forms of ID, but he wasn't sure about taking it to a bank. Just curious if anyone has deposited a money order in their bank account recently and knows.
     
  2. rob_just_rob

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    I've done that about 100 times (at different banks) with no problem.

    YMMV, of course.
     
  3. D_Roderick Beresford Stiffington IV

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    So I can take the money order made out to her and as long as she's signed it I can deposit it into her account for her? Cause she isn't going to have any free time to do it herself for awhile.
     
  4. snoozan

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    it depends on the bank, but you shouldn't have a problem generally. the best way to find out is by going to or calling the bank.
     
  5. D_Roderick Beresford Stiffington IV

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    Lastly, do you know if a MO is similar to depositing cash where its available in your account right away? Or does it take time? The whole reason I'm doing this is because money in the MO is actually for me sent by someone else, and I'm too impatient to wait and wanted to use it to go do some christmas shopping. She gave me her ATM card to withdraw it as soon as it became available in her account. And thanks for the quick informative answers.
     
  6. B_Think_Kink

    B_Think_Kink New Member

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    She signed it.. you can cash it.
     
  7. Osiris

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    If you simply deposit it for her, you'll have no trouble. You just can't draw cash back from it.
     
  8. badboybryce

    badboybryce Active Member

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    You can deposit the MO into her account. It doesn't matter that it isn't the account owner who is doing it. As far as the cash being immediately available, that is the bank's discretion. If it is a large commercial bank, it usually makes the funds available as long as the account currently has sufficient funds to cover the deposit if the bank should have any issues with the MO.
     
  9. hot-rod

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    I would think it would be treated just like a bank check and could be deposited but I wouldn't think you could cash it.
     
  10. Mem

    Mem
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    I would use the drive thru to deposit it.
     
  11. Pecker

    Pecker Retired Moderator
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    I've noticed at Wachovia that when I make a deposit by check at the bank it may take several days for the funds to be 'available.' If I instead deposit the check through the ATM it gives me $100 credit immediately and the remainder shows on my account as 'available balance' and they don't charge overdrafts if I use it.

    It should work the same for money orders.
     
  12. rob_just_rob

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    Money orders are guaranteed, unlike cheques. So there shouldn't be a hold on the funds once they are deposited. If you have a good relationship with your bank and a decent credit history, they shouldn't be putting holds on anything, really.
     
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