How to cash a money order?

Question

I got a $100 money order in the mail today, from someone that I lent money to. Now...how and where I do I cash it? I have a bank account...can I just depost it into my account and it will work like a check?

Answer 1

A money order is in fact a cash voucher, it is unlike a check as there is no way for a money order to "bounce" as the money has already been paid, a check is a draft, a document that authorizes the transfer of funds from a specific account at a specific bank but makes no guarantee that funds are there. As for the money order, it is not drawn on a specific account from a specific bank so any bank will cash it regardless of if you have an account or not, you can also deposit it into any of your own accounts.

Answer 2

banks should be able to cash lt

Answer 3

It will work exactly like a check. It doesn't matter where it came from.