What a bank money order is and why you might use one
A bank money order is a piece of paper your bank prints that promises to pay a specific amount of money to a specific person. You buy it from your bank, hand over cash or use your account, and the bank guarantees the payment will go through — which is why landlords, utility companies, and government offices often ask for one instead of a personal check.
The main reason to get one is trust. When you write a personal check, the person receiving it has to wait days to learn about your account has enough money. A money order clears that uncertainty: the bank has already taken the money from you, so the recipient knows it will not bounce.
A bank money order is different from a postal money order (which you buy at the post office) or a convenience store money order. Banks charge less than convenience stores, and their money orders are widely accepted everywhere.
Key Takeaways
- You can get a bank money order by walking into any branch with cash or your debit card, telling the teller the amount and who it should be made out to, and paying a small fee (usually $5 to $10).
- You need to know the exact amount and the exact name of the person or business receiving the money before you go to the bank.
- The teller will fill out the money order on the spot, and you can use it when ready — there is no waiting period.
- If you lose a bank money order, contact your bank right away with the receipt number, and they can stop payment and issue a replacement.
- Some banks offer money orders only to account holders, while others sell them to anyone, so call ahead if you do not have an account.
Step 1: Gather the information you need before going to the bank
Before you walk into the branch, write down three things: the exact amount of money, the full name of the person or business the money order should go to, and your own name. The name on the money order must match exactly how the recipient expects it — if you are paying rent to "Smith Property Management LLC," that is what goes on the line, not "John Smith" or "Smith PM."
Call the person or business if you are not sure. A misspelled name can make the money order harder for them to cash, and you may have to buy a new one.
You will also need to bring a form of payment. Most banks accept cash, a debit card, or a withdrawal from your account if you are a customer. A few banks may ask for a check from your account instead, but this is less common.
Step 2: Go to your bank branch during business hours
Walk into any branch of your bank. If you do not have a bank account, call ahead — some banks sell money orders only to account holders, while others sell them to anyone. The phone number is on the bank's website or on the back of any card you have from them.
Go during regular business hours. Most branches are open Monday through Friday from 9 a.m. to 5 p.m., and some are open Saturday mornings. If you are in a hurry, go early in the week — Fridays and the first few days of the month are busier.
Step 3: Tell the teller what you need
Walk up to the teller window and say: "I would like to buy a money order." The teller will ask you for the amount, the name of the person or business it should be made out to, and how you want to pay. Hand over your cash, debit card, or account information.
The teller will type the information into the bank's system and print the money order right there. The whole process takes about five minutes. You will receive a receipt with a reference number — keep this in a safe place. If the money order is lost or stolen, you will need this number to stop payment and get a replacement.
Step 4: Check the money order before you leave the bank
Before you walk away from the window, look at the money order. Make sure the amount is correct, the recipient's name is spelled right, and your name is on it as the buyer. If anything is wrong, tell the teller when ready — they can void it and print a new one at no extra charge.
Also check that the money order is signed by the bank. Most bank money orders have a signature line that the teller or a machine fills in automatically. If it is blank, ask the teller to sign it before you leave.
Step 5: Deliver the money order or mail it
You can hand the money order directly to the person or business, or you can mail it. If you mail it, put it in an envelope with a letter explaining what it is for — for example, "This money order is for rent payment for [your address], month of [month]." Do not mail cash, but a money order is safe to mail because only the person whose name is on it can cash it.
Keep your receipt until you know the money order has been cashed. If the recipient says they never received it, you can contact your bank with the receipt number and ask them to trace it or issue a replacement.
What to do if you lose the money order or need to cancel it
If you lose the money order before the recipient cashes it, contact your bank right away with the receipt number. The bank can put a stop on the payment, which means if someone else tries to cash it, the bank will refuse. After a set period (usually 30 to 90 days, depending on the bank), you can request a replacement.
If you change your mind and do not want to send the money order, you can also ask the bank to stop payment. You may have to pay a fee for this service, usually $15 to $25, so ask before you request it.
If the money order has already been cashed, you cannot get the money back through the bank. The recipient would have to refund you directly.
Bank money orders versus other types
A postal money order (from the U.S. Postal Service) costs less than a bank money order — usually $1.45 to $2.45 depending on the amount — but banks charge $5 to $10. However, postal money orders have a lower maximum amount (usually $1,000), while bank money orders can go much higher. If you need to send more than $1,000, a bank money order is your only choice.
A convenience store money order (from Western Union or MoneyGram) is fast and available 24 hours, but the fee is often higher than both banks and the post office. Use a convenience store only if you need the money order outside of banking hours and cannot wait until morning.
A cashier's check is similar to a money order but is printed on the bank's own paper and usually costs more. Most people use money orders for smaller amounts and cashier's checks for larger ones, but either works for most situations.
Frequently Asked Questions
Can I buy a money order without a bank account?
Some banks sell money orders to anyone, while others sell only to account holders. Call your bank's main number and ask. If they do not sell to non-account holders, go to the post office instead — they sell money orders to anyone and charge less.
What if I do not know the exact amount yet?
Call the person or business you are paying and ask for the exact amount. If the amount changes after you buy the money order, you will have to buy a new one. It is worth the extra five minutes to get it right the first time.
Can someone else cash a money order with my name on it?
No. A money order is made out to a specific person, and that person has to sign the back to cash it. If you lose it, only someone who forges that person's signature could cash it, which is why you should report it to your bank right away.
How long does it take for a money order to clear?
A money order clears when ready or within one business day, much faster than a personal check. The recipient can usually deposit it the same day they receive it.
What if the bank made a mistake on the money order?
Tell the teller before you leave the branch. They can void it and print a new one at no charge. If you do not notice the mistake until later, contact your bank with the receipt number and explain the error — they can usually issue a replacement.