Yes, you can deposit a money order at your bank
Most banks accept money orders for deposit into your checking or savings account. You can deposit a money order the same way you would a check: in person at a branch, through an ATM if your bank offers mobile deposit, or by mailing it to the bank. The money order must be made payable to you or to you and another person, and you will need to endorse the back by signing your name.
The deposit process is straightforward, but the time it takes for the funds to appear in your account depends on your bank's policy and how you deposit it. In-person deposits at a branch typically clear within one to two business days. Mobile deposits and mailed deposits may take longer—usually two to five business days. Some banks hold money orders longer than checks if they consider them higher risk, though this is less common with established banks.
Key Takeaways
- You can deposit a money order at your bank by visiting a branch, using an ATM with mobile deposit, or mailing it in, and the money order must be made payable to you.
- In-person deposits typically clear within one to two business days, while mobile and mailed deposits may take two to five business days.
- You must endorse the back of the money order by signing your name before depositing it.
- If the money order is made payable to two people, both may need to sign the back, depending on how the payee line is worded.
- Some banks charge a fee to deposit a money order, though many do not—check your account terms or call your bank to confirm.
Endorsing the money order before deposit
The back of a money order has a signature line labeled "Endorse here" or similar. You must sign your name on this line before the bank will accept it. This signature confirms that you are the person named on the front of the money order and that you authorize the deposit.
If the money order is made payable to two people—for example, "John Smith and Jane Smith"—both people typically need to sign the back. If it says "John Smith or Jane Smith," usually only one signature is required. If you are unsure, ask the teller or call your bank before you visit, because signing incorrectly can delay the deposit or cause it to be rejected.
Do not sign the money order until you are ready to deposit it. A signed money order can be cashed or deposited by anyone who has it, so keep it in a safe place until you hand it to the bank.
Depositing in person at a branch
Walk into your bank with the endorsed money order and a form of identification. Hand the money order and your ID to the teller and tell them you want to deposit it into your account. The teller will verify that the money order is legitimate, check that it is signed correctly on the back, and process the deposit. This usually takes a few minutes.
The funds will typically appear in your account within one business day, though some banks post deposits the same day if you arrive before their cutoff time—usually 2 p.m. or 3 p.m. Ask the teller when the cutoff is if you need the money quickly. If you deposit after hours or on a weekend, the deposit will be processed the next business day.
Using mobile deposit or ATM deposit
Many banks allow you to deposit a money order using their mobile app or an ATM without visiting a branch. To use mobile deposit, open your bank's app, select "Deposit Check" or "Mobile Deposit," take a photo of the front and back of the endorsed money order, and follow the prompts. The app will tell you the deposit amount and ask which account to deposit into.
ATM deposit works similarly: insert your card, select "Deposit," choose the account, and insert the endorsed money order into the slot. The ATM will scan it and confirm the amount. Not all ATMs accept money orders—some only accept checks—so look for a sign on the machine or call your bank to find out which ATMs in your area support money order deposits.
Mobile and ATM deposits usually take two to five business days to clear, longer than in-person deposits. The bank needs time to physically verify the money order and confirm it is not fraudulent. During this time, the funds may show as "pending" in your account, meaning you can see them but cannot spend them yet.
Mailing a money order to your bank
If you cannot visit a branch or use mobile deposit, you can mail the endorsed money order to your bank. Call your bank or check their website for the mailing address—do not use the address on your statements, as that may be a processing center, not the deposit location. Include a deposit slip if your bank provides one, or write your account number on the back of the money order near your signature.
Place the money order in an envelope with a deposit slip or a note with your account number and send it via regular mail or a tracked service like certified mail. Regular mail usually takes three to seven business days to arrive, and then the bank needs another two to five business days to process it. Using certified mail costs a few dollars but gives you proof of delivery and a tracking number.
Mailed deposits carry a small risk: if the envelope is lost or damaged, the money order may not reach your bank. For this reason, certified mail is worth the cost if you are depositing a large money order or if you need documentation that it arrived.
What happens if the money order is fraudulent or damaged
If a money order is counterfeit or has been altered, your bank will reject the deposit and return it to you. This can happen days or even weeks after you deposit it, which is why banks hold money orders longer than checks. If the money order is damaged—torn, water-damaged, or illegible—the bank may also reject it and ask you to contact the issuer for a replacement.
If your bank rejects a money order, they will notify you and return it. You can then contact the place where you bought the money order (usually a grocery store, post office, or check-cashing service) and request a refund or replacement. Bring your receipt and the rejected money order. The issuer will investigate and either refund your money or issue a new money order.
To avoid problems, inspect the money order before you deposit it. Check that the amount is correct, that your name is spelled correctly on the front, and that the money order is not torn or stained. If something looks wrong, do not deposit it—contact the issuer first.
Fees and hold times by bank
Most banks do not charge a fee to deposit a money order if you are a customer with an account. However, some banks charge a small fee—typically $1 to $5—if you deposit a money order at an ATM or through mobile deposit, or if you are not a customer. Check your account agreement or call your bank to learn about there is a fee.
Hold times vary by bank. Large national banks like Chase, Bank of America, and Wells Fargo typically clear money orders within one to two business days for in-person deposits and two to five business days for mobile or mailed deposits. Credit unions and smaller regional banks may have different policies. Some banks place a longer hold on money orders than on checks because they consider them a higher fraud risk. If you need the money quickly, ask your bank about their specific hold policy before you deposit.
Frequently Asked Questions
Can I deposit a money order made out to someone else?
No. A money order must be made payable to you or to you and another person. If it is made payable to someone else, only that person can deposit or cash it. If someone wants to give you the money, they need to request a replacement money order from the issuer with your name on it, or they can cash it and give you the cash instead.
What if I lost the money order before depositing it?
Contact the place where you bought it (post office, grocery store, check-cashing service) with your receipt. The issuer can place a stop on the money order and issue a replacement. This process usually takes one to two weeks. If you do not have a receipt, the issuer may still be able to help if you have the money order number or other details about the purchase.
Can I deposit a money order to someone else's account?
No. You cannot deposit a money order into another person's account unless you are an authorized signer on that account. The money order must be made payable to you, and you must be the one who deposits it into your own account. If you want to give the money to someone else, deposit it into your account first, then transfer the funds or give them cash.
How long does a money order deposit hold last?
In-person deposits usually clear within one business day. Mobile and mailed deposits typically clear within two to five business days. Some banks place a longer hold if the money order is large or if they suspect fraud. If your bank places a hold, they will tell you the expected release date. You can call your bank to ask about the hold on your specific deposit.
Can I deposit a money order at an ATM that is not my bank's?
Some ATMs from other banks or networks accept deposits, but most do not. Even if they do, you may be charged a fee and the hold time may be longer. It is best to use your own bank's ATM or visit a branch. If you do not have access to your bank's ATM, call them to find the nearest location or ask about mobile deposit options.