Yes, most banks issue money orders, but not all, and the process varies by institution
If your bank offers money orders, you can walk in during business hours, hand over cash or have the teller deduct from your account, and walk out with a money order in minutes. But not every bank does this. Credit unions are less likely to offer them than large national banks. Some regional banks have stopped issuing them altogether. Before you go, call your branch or check their website to confirm they sell money orders — if they don't, you'll need to go to a post office, grocery store, or check-cashing service instead.
The cost is usually $5 to $10 per money order, depending on the bank and the amount. Some banks charge a flat fee; others charge a percentage of the money order value. A few banks waive the fee for customers with certain account types — typically checking accounts with direct deposit or a minimum balance. Ask about this when you call.
Key Takeaways
- Call your bank first to confirm they issue money orders, because many banks have stopped offering them or limit them to account holders only.
- You'll need to bring cash or have the amount deducted from your account, plus a valid ID, and the process takes about five minutes.
- Bank money orders cost $5 to $10 each, though some account types may have the fee waived.
- If your bank doesn't offer money orders, the post office, Walmart, and grocery stores are faster alternatives and often cheaper.
What you need to bring to the bank
Bring a valid photo ID — a driver's license, passport, or state ID card. The teller will ask for it even if you're a long-standing customer. You'll also need to know the exact amount of the money order and the name of the person or business it's going to. Write this down before you get to the counter so you don't hold up the line.
If you're paying with cash, bring the full amount plus the fee. If you're paying from your account, bring your debit card or account number. Some banks will issue a money order to yourself or a business you own, but policies vary — ask when you call to confirm they can do this.
How the transaction works at the counter
Tell the teller you want a money order. They'll ask you for the payee name (the person or business receiving the money), the amount, and your ID. They'll enter this into their system and show you the money order before they finalize it — check that the amount and payee name are correct. If something is wrong, tell them immediately; corrections are easier before the money order is issued.
You'll then pay the fee and the amount of the money order. The teller will give you the original money order and a receipt. Keep both. The receipt is your proof of purchase and shows the money order number; the original is what you send to the payee. Do not lose the receipt until the money order has been cashed or deposited.
When a bank money order is worth the cost
A bank money order makes sense when you need a may provide payment method and you're already at your bank. They're safer than cash because they can't be spent if lost or stolen — only the named payee can cash it. They're also a paper trail: the bank keeps a record, and you have a receipt with a tracking number.
Bank money orders are slower than other payment methods if you're sending them by mail, because they take the same time as a check to arrive and clear. If the payee needs the money urgently, ask whether they'll take a bank transfer, ACH payment, or wire instead. If they specifically ask for a money order, a bank one is fine — but if they just need payment, faster options exist.
Tracking and canceling a bank money order
If you need to track a money order you've already sent, call your bank with the money order number from your receipt. They can tell you whether it's been cashed and by whom. This takes a few business days; the bank can't check the status the same day you buy it.
If you need to cancel a money order before it's cashed, contact your bank immediately. Most banks will cancel it and refund your money, but they may charge a cancellation fee of $15 to $30. Some banks require you to wait 30 days before canceling, to give the payee time to deposit it. If the money order has already been cashed, you cannot cancel it — you'll need to contact the payee or pursue a dispute through your bank if the transaction was fraudulent.
Alternatives if your bank doesn't offer money orders
The U.S. Postal Service sells money orders at any post office for up to $1,000 per money order, with fees ranging from $1.45 to $2.20 depending on the amount. Post offices are open on Saturdays at most locations, which can be more convenient than a bank branch.
Walmart and many grocery stores (Kroger, Safeway, Albertsons) also issue money orders for $0.70 to $3.00 each, usually up to $1,000 per money order. These are faster than a bank if you're already shopping. Check-cashing services and some convenience stores offer them too, though fees are often higher — $5 to $10 per money order.
If you need a money order for more than $1,000, you'll need multiple money orders or a cashier's check from your bank instead. Cashier's checks are may provide by the bank and work the same way as money orders but can be issued for any amount.
What happens if a money order is lost or stolen
If you lose a money order before you send it, contact your bank with the money order number from your receipt. They can issue a replacement, but they'll usually charge a fee ($15 to $30) and may require you to sign an affidavit stating the original was lost. This process takes several business days.
If someone else cashes a money order you sent, you have a stronger case for recovery. Contact your bank and provide the receipt and the money order number. The bank can investigate where it was cashed and may be able to recover the funds, but this is not may provide. If the payee claims they never received it, the bank's investigation will show whether it was actually cashed and by whom.
Frequently Asked Questions
Do I have to be a customer of the bank to buy a money order there?
Most banks require you to have an account with them. Some will sell money orders to non-customers for a higher fee, but this is rare. Call ahead to ask. If you're not a customer, the post office or Walmart are easier options.
Can I buy a money order with a credit card?
No. Banks require cash or a debit card (drawn from your account). Credit cards are not accepted because money orders are considered cash equivalents. If you need to use a credit card, you'll have to get a cash advance first, which carries fees and interest.
How long does it take for a money order to clear?
Money orders typically clear within 3 to 5 business days once the payee deposits or cashes them, the same as a check. If you need same-day payment, ask the payee whether they'll accept a bank transfer or wire instead.
What's the difference between a bank money order and a postal money order?
Both are may provide payments backed by the issuing institution. Postal money orders are slightly cheaper and available on Saturdays. Bank money orders may be faster if you're already at your branch. The payee won't care which one you use — both work the same way.
Can I get a refund if I change my mind about sending a money order?
Yes, but only if it hasn't been cashed. Contact your bank with the receipt and money order number. They'll cancel it and refund your money minus a cancellation fee (usually $15 to $30). If the money order has already been cashed, you cannot get a refund — you'd need to contact the payee directly.