You can deposit money orders with your bank account. However, there are some limitations to this process that you should be aware of before making a deposit. Unfortunately, you can’t mobile deposit a money order in most cases.
Many banks accept money orders
Most banks accept money orders. This includes big-name banks like Chase Bank, Bank of America and Wells Fargo. If you have a checking account at one of these institutions, you can use their services to deposit your money.
Many banks do not charge fees for loading money orders onto prepaid cards or cashing them when deposited into an eligible account. Your best bet is to call the bank directly. Ask about their policies regarding this type of transaction before you try to complete it.
You can load money orders onto prepaid cards
Prepaid cards are a great way to manage your cash and spending. They can be loaded with money orders, and used in the same manner as a bank or credit card.
You can use prepaid cards to pay bills online and even withdraw cash at ATMs. You can also check your balance by logging in to the card’s website or calling customer service.
You can cash money orders with a bank or credit union
You’ll need to bring the money order and your ID and fill out a form in person. If you’re using the money order for school, you can also deposit it into your student account.
You generally need to take it to a teller in person
Check with your bank for specific instructions before you try this. Here’s how it works:
Deposit the money order into your checking account. Some banks allow you to deposit a money order through an ATM, but most prefer that you bring it into the branch.
That way, they can verify its authenticity and ensure no problems with the funds. The teller will give you a receipt for your transaction and keep the original document until everything checks out.
You cannot mobile deposit money orders
First off, you can deposit money orders at your bank. You just have to go there in person and do it. No need for a fancy app or printer here.
However, you cannot mobile deposit a money order in 2023. However, some banks may offer the option of depositing funds into an account via text message (or other messaging apps) in the future.
However, that is more like sending money through Venmo than depositing a check.
If you want to mobile deposit a money order, you likely won’t be able to. The best alternative is to visit your local branch and fill out a deposit slip.