Is it possible to refund a money order

This is why money orders often are preferred over checks by some businesses. However, not every company accepts money orders. If you have a bank account, you can deposit the money order into your account, provided you haven't written on it. If the money order is blank, put your name in the recipient's area and endorse the back of the money order.

Then you can either present it to a teller. If you don't have a bank account, many banks such as Chase, Wells Fargo and Bank of America will cash a money order for a fee. Each bank has its own set of criteria for cashing money orders, so check with the bank to find out what exactly you need to do.

Each location also has its own set of requirements for cashing money orders that are made out to someone else, so you will need to visit the bank and inquire what the exact procedure is.

Take the money order back to its place of purchase to try to cash it. Banking Reviews. Banking Recommended Reading. More from. Napoletano Contributor. By Ben Gran Contributor. Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities.

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This compensation comes from two main sources. The entire process varies by issuer, but it often takes about 20 to 30 days if you provide a receipt. If not, it can take around eight weeks. Instead of receiving a new money order, you can ask for your money back, usually on the same form.

The fees and time to process are generally the same as if you canceled. But you might still be able to collect. The provider might give you a photocopy of the cashed money order. If you think it was cashed fraudulently, alert your local law enforcement. The copy could help authorities catch the criminal and make sure the money is returned to you.

If you receive a money order, cash it or deposit it in a checking or savings account before you have a chance to lose it. But if your money order does disappear, follow these steps for a decent shot at reclaiming your cash.

How to cancel a money order. Fees for canceling a money order. Money order refunds. Real USPS money orders have specific marks and designs to prevent fraud. If you hold the money order up to the light you should see:. Domestic money orders never expire and they do not accrue interest. Money orders are cashed for the exact amount on the order.

You can also cash them at most banks and some stores. Rural carriers may cash money orders if they have enough money on hand. See additional requirements for money orders made out to organizations, more than one person, and minors. You can check the status of a money order you've purchased from the U. Postal Service at any time by visiting the Money Orders Application.

Make sure you have the following information for the postal money order you want to check:. You cannot stop payment on postal money orders, but a lost or stolen money order can be replaced.

We'll replace money orders that are defective or damaged. Take the damaged money order and your receipt to your local Post Office location to get a replacement.