Is there suck thing as depositing Money order & cash it Money Order that I have just recieved?

Question

I know this question sounds dumb.But I'm trying to get it striaght, since I;m ignorent on the banking aspect.

Answer 1

You can do both. If you were at a grocery store, for example, that accepts those money orders, you would be cashing it.  If you were at your bank, they would cash it and deposit it in your account if that's what you wanted.

Answer 2

Make sure you consult your bank first. there's a well-known money order scam that takes advantage of the reputation of money orders, where they send you one and ask for some of it back. it then gets canceled, and you are responsible for all amounts.