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#1
Old 07-06-2013, 03:17 PM
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I have more stupid questions: How does one cash a money order?

Well, only one question, and hopefully it's not that stupid.

I do not bank with a brick and mortar bank. I bank online with ING/Capital 300 or whatever they're calling themselves now. On the rare occasion that I have to deposit an actual check, I upload an image of the front and back, and it is deposited into my account easy peasy. So knowing that banks will cash money orders, when I received one, I just photographed both sides, deposited it online, and walked away business as usual. Except it got rejected because ING 360 doesn't accept money order deposits. Okay! My 30 seconds of Googling has revealed that my options for cashing a money order are go into the bank (not an option), cash at USPS if a USPS-issued money order (not an option, as it is not), or go to check cashing place. Check cashing is an option, but they charge you through the asshole, and I don't feel like handing over an ungodly percentage of my own goddamn money to them. But it might be my only choice?

Is that all there is? Is there something I don't know? Halp, por favor. Thanks!
#2
Old 07-06-2013, 03:35 PM
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The money order itself may have come from a check cashing company. You can try going to the one it came from, or to the bank it came from.

Does ING not take money orders at all, or just not by phone?
#3
Old 07-06-2013, 03:37 PM
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I think a money order can be cashed at any store near you, unless its a very large sum.
#4
Old 07-06-2013, 03:53 PM
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One option could be to sign it over to a friend who has a bank account at a place that allows deposits of money orders, and have them pay you the funds in cash or a check that you can deposit.
#5
Old 07-06-2013, 03:57 PM
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Some supermarkets will cash money orders. I don't know the details about what ones they accept or how much they charge but they're probably better than the check cashing places.
#6
Old 07-06-2013, 04:12 PM
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I would go to the place that issued it.
#7
Old 07-06-2013, 04:17 PM
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Just for fun I decided to google your answer. I think this will do.
#8
Old 07-06-2013, 04:21 PM
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Why don't you ask your "bank"? Surely they have some kind of customer service, even if her name is Liza.
#9
Old 07-06-2013, 05:39 PM
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Quote:
Originally Posted by Canadjun View Post
Just for fun I decided to google your answer. I think this will do.
Nope

Looks like you'll have to have someone else cash it, use a check cashing service or you might possibly be able to cash/use it at a supermarket/Target etc.
#10
Old 07-06-2013, 05:44 PM
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Originally Posted by doreen View Post
Nope

Looks like you'll have to have someone else cash it, use a check cashing service or you might possibly be able to cash/use it at a supermarket/Target etc.
Oops. Sorry.
#11
Old 07-06-2013, 09:00 PM
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If you live near a Wal Mart, pop in there and see if they'll cash it for you (at Customer Service). They do a whole lot of money stuff. If they cash paychecks and send moneyorders, I bet they cash moneyorders.
#12
Old 07-07-2013, 02:14 AM
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When I worked at Walmart several years ago, we cashed payroll checks and government checks, but NOT money orders--even the ones that we sold.

When somebody asked us how to cash one, our standard answer was "Go to a bank."
#13
Old 07-07-2013, 02:43 AM
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Originally Posted by Flyer View Post
When somebody asked us how to cash one, our standard answer was "Go to a bank."
This. I am unsure why the OP feels that she cannot go to a bank to cash the money order. If the issuing agency (bank, credit union, Western Union, whatever) is willing to make good on it, then a bank--any bank--should have no problems cashing it.

There may be some service charges, but I fail to see how any bank cannot cash a properly-executed money order by a recognized bank or other authority. If you want to deposit the funds to ING, then tell the bank you're in. Again, there may be some service fees, but as far as I can tell, if you can recite to the cashing bank all the necessary info as to your ING account, the money will end up in your ING account.

Doesn't hurt to ask a local bank, anyway. Ask and find out.

Last edited by Spoons; 07-07-2013 at 02:47 AM.
#14
Old 07-07-2013, 05:59 AM
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Originally Posted by Spoons View Post
This. I am unsure why the OP feels that she cannot go to a bank to cash the money order. If the issuing agency (bank, credit union, Western Union, whatever) is willing to make good on it, then a bank--any bank--should have no problems cashing it.

There may be some service charges, but I fail to see how any bank cannot cash a properly-executed money order by a recognized bank or other authority. If you want to deposit the funds to ING, then tell the bank you're in. Again, there may be some service fees, but as far as I can tell, if you can recite to the cashing bank all the necessary info as to your ING account, the money will end up in your ING account.

Doesn't hurt to ask a local bank, anyway. Ask and find out.
In the United States, few banks are willing to cash checks for non-customers. You need an account at a bank to cash a check there. Maybe back in the 1950s, your friendly town banker would cash a check for a non-customer, but this is not common practice in the United States.

For one thing, the bank has no a priori way of knowing whether the issuing agency will make good on the check other than to process it and wait to see if it is returned. Even if the bank were willing to go to the trouble of calling the issuing agency for a non-customer, that is no guarantee that the person presenting the check is the real payee, that the copy of the check being presented is genuine, that payment will not be stopped on the check, or that there will still be sufficient funds in the account when presented to the issuer, or various other frauds. No issuing agency will guarantee that a check will clear.

And further, if the check bounces, the bank has no recourse against an unknown person who may have presented a fake or stolen ID. And even if they can find the person, they may have to pursue a long and expensive collection process.

But to fill the void for the unbanked, we do have places called "check cashing stores" that will take the risk of cashing checks for strangers for a substantial fee. In Illinois (where I believe the OP may reside), these are called "Currency Exhcanges" (which poor people use instead of banks and where you cannot actually exchange any currency).

And you seem to be implying that a random bank would transfer money for a non-customer to a different bank??? Not in the United States. Some might willing to do a wire transfer if you brought in a wad of cash and paid a substantial fee. But a non-customer coming in with a money order and demanding that the bank transfer money to a different bank, no way in heck.



To MeanOldLady who issued the money order? Western Union, Travelers Express, American Express, a bank?

It used to be that in order to open an Ing Direct account you had to supply a linked checking account at another bank to and from which you can transfer money. Did you close that account or did they recently remove that requirement?

This is one of the reason why you need a local bank account in addition to your online bank account(s). If you ever needed a signature guarantee, a cashiers check, change, small bills, more cash than you can take out of an ATM, or any number of other services, you would be up the creek if you don't have a B&M bank.

You can check with the issuer of the money order to see if they have any local agencies that cash their money orders or your can trek to a check cashing store.

Last edited by Alley Dweller; 07-07-2013 at 06:00 AM.
#15
Old 07-07-2013, 07:22 AM
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Originally Posted by doreen View Post
Nope

Looks like you'll have to have someone else cash it, use a check cashing service or you might possibly be able to cash/use it at a supermarket/Target etc.
You misread that page. It is for the deposit by smartphone app. If you look near the top of the page, it says "Deposit Checks > Image Upload > The Basics."

Of course you can mail in a money order to ING 360. But it sounds like the OP wants to cash it, like get currency right now, as opposed to deposit it and get currency later. I'm stumped on that, but again: you can mail it in to ING 360.

Last edited by Ravenman; 07-07-2013 at 07:24 AM.
#16
Old 07-07-2013, 07:32 AM
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Bars and liquor stores will often cash checks and money orders. My local watering hole doesn't even charge anything. I always feel somewhat dirty doing it, since I assume they do it to help you drink away your paycheck instead of buying formula for the baby.
#17
Old 07-07-2013, 07:33 AM
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I also bank with ING/Capitol One and wonder if you could go to a Capitol One bank to cash it. After all the ING account is theirs now.
#18
Old 07-07-2013, 10:04 AM
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Quote:
Originally Posted by Alley Dweller View Post
In the United States, few banks are willing to cash checks for non-customers. You need an account at a bank to cash a check there. Maybe back in the 1950s, your friendly town banker would cash a check for a non-customer, but this is not common practice in the United States.
Right, this exactly. Which is why I pointed out in my OP who I bank with. I thought it would be understood that banking online is the crux of my problem, but apparently people think you can wander into a bank that's not yours and expect them to perform services for you.

Quote:
To MeanOldLady who issued the money order? Western Union, Travelers Express, American Express, a bank?

It used to be that in order to open an Ing Direct account you had to supply a linked checking account at another bank to and from which you can transfer money. Did you close that account or did they recently remove that requirement?

This is one of the reason why you need a local bank account in addition to your online bank account(s). If you ever needed a signature guarantee, a cashiers check, change, small bills, more cash than you can take out of an ATM, or any number of other services, you would be up the creek if you don't have a B&M bank.

...

You can check with the issuer of the money order to see if they have any local agencies that cash their money orders or your can trek to a check cashing store.
I wish it were issued by a well-known institution. It was issued by some folks called Continental Express out in Orange County, CA. You might be wondering who the hell paid me with a money order. My idiot brother who is so bad with money that he had to borrow it from me, and just when I thought I was never going to see it again, he mails it to me a year later with a fucking money order. This guy, I swear....

Anyway, when I opened my ING account, I had a local bank account, and then I closed it. Don't ask me why. I think they had too many fees or something. In any case, you are very much right about why it's important to have a local account. I found this out twice the hard way this weekend! First when I lost my debit card and found out it would take FIVE business days to receive a replacement. Yikes! Five days access to my money? I have a credit card that could keep me afloat but still, that's ridiculous. And second, trying to redeem this f-ing money order.

Quote:
Originally Posted by Ravenman View Post
You misread that page. It is for the deposit by smartphone app. If you look near the top of the page, it says "Deposit Checks > Image Upload > The Basics."

Of course you can mail in a money order to ING 360. But it sounds like the OP wants to cash it, like get currency right now, as opposed to deposit it and get currency later. I'm stumped on that, but again: you can mail it in to ING 360.
You cannot mail in the money order to ING/Capital One. I called them just now. No money orders, period. And I don't care when I receive the money. Whether I cash it now or deposit it into my account makes no difference. I'd just like to redeem the damn thing.

Quote:
Originally Posted by GreasyJack View Post
Bars and liquor stores will often cash checks and money orders. My local watering hole doesn't even charge anything. I always feel somewhat dirty doing it, since I assume they do it to help you drink away your paycheck instead of buying formula for the baby.
Heh, that does seem kind of seedy, and I'd totally feel like a hobo doing so, but I s'pose if it came to it I would. Apparently WalMart cashes money orders for all of $3. I really doubt any of the bars around here would cash a money order for me, but I reckon $3 isn't an exorbitant amount of money, and I'd pay that. So I think I've answered my own question. Actually, the guy at Capital One told me this, but the point is I believe my question has been answered for now.
#19
Old 07-07-2013, 10:23 AM
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Quote:
Originally Posted by MeanOldLady View Post
You cannot mail in the money order to ING/Capital One. I called them just now. No money orders, period. And I don't care when I receive the money.
Wow, I apologize for the bad steer. I am certain I mailed in a money order a few years ago when it was ING Orange.

Plus, what a BS policy.
#20
Old 07-07-2013, 10:34 AM
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Maybe that was allowed before Capital One took over, but now they won't take them. And it IS total BS. I didn't even think twice about trying to deposit it. Banks cash money orders, therefore my bank would accept my money order, right? Wrong! So very, very lame.
#21
Old 07-07-2013, 01:15 PM
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Do you have a brokerage account? The firm I work for, as well as most big firms, accepts money orders as a form of deposit. It won't be converted to cash, but you can, of course, request a withdrawal from the account once the money order is cleared. A bit time consuming, but there shouldn't be any fees involved.

Last edited by dalej42; 07-07-2013 at 01:15 PM.
#22
Old 07-07-2013, 01:50 PM
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Quote:
I wish it were issued by a well-known institution. It was issued by some folks called Continental Express out in Orange County, CA. You might be wondering who the hell paid me with a money order. My idiot brother who is so bad with money that he had to borrow it from me, and just when I thought I was never going to see it again, he mails it to me a year later with a fucking money order. This guy, I swear....

Anyway, when I opened my ING account, I had a local bank account, and then I closed it. Don't ask me why. I think they had too many fees or something. In any case, you are very much right about why it's important to have a local account. I found this out twice the hard way this weekend! First when I lost my debit card and found out it would take FIVE business days to receive a replacement. Yikes! Five days access to my money? I have a credit card that could keep me afloat but still, that's ridiculous. And second, trying to redeem this f-ing money order.
First, it's good that your brother paid you back.

Second, use this money order to open a local bank account. That solves two problems, right?
#23
Old 07-07-2013, 02:01 PM
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Quote:
Originally Posted by MeanOldLady View Post
I wish it were issued by a well-known institution. It was issued by some folks called Continental Express out in Orange County, CA. You might be wondering who the hell paid me with a money order. My idiot brother who is so bad with money that he had to borrow it from me, and just when I thought I was never going to see it again, he mails it to me a year later with a fucking money order. This guy, I swear....
I don't know if this is the same company but if it is, it looks really sketchy. There's no address listed, which never a good sign in my experience.
#24
Old 07-08-2013, 07:32 PM
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Local banks are becoming a real pain in the ass as well. A couple of years ago I had an account at a local bank in Florida, and my wife had a check issued to her that she signed to me. A perfectly negotiable instrument under UCC Section 3.

But, nope, bank policy, cannot cash 3rd party checks even though I had enough money in my account. No exceptions. Even though I could have taken that check to the hated Wal-Mart and they could have verified those funds in 2 seconds, a brick and mortar bank still needs the 5 business day rule.

I like online banking as well, but this particular situation is a pain in the ass.
#25
Old 07-09-2013, 08:48 AM
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Sign it over to a trusted friend who can write you a check.

But yeah, it'll probably take 10 days to clear, from sketchy McSketchville Issuer.
#26
Old 07-09-2013, 11:46 AM
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Originally Posted by jtgain View Post
But, nope, bank policy, cannot cash 3rd party checks even though I had enough money in my account. No exceptions. Even though I could have taken that check to the hated Wal-Mart and they could have verified those funds in 2 seconds, a brick and mortar bank still needs the 5 business day rule.
Wait. . . Could you deposit the cashiers check into your own account? Does the bank accept cashiers checks for deposit?

And if you otherwise already had enough money in your account, you couldn't just withdraw some of that, or write a check against it?
#27
Old 07-09-2013, 02:03 PM
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Walmart. The fee is three bucks, max, if it's $1000 or less.

EDIT: Hah! I just read that you already knew that, Mean Old Lady.

Last edited by Lazlo; 07-09-2013 at 02:07 PM.
#28
Old 07-09-2013, 02:08 PM
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I don't know if you feel like opening a different account, but USAA will accept money orders for deposit via mail and several other methods.
Go to USAA.com and search 'deposit money order' for details.

They are a very good credit union. I have always been more than happy with their service. And their phone support is excellent.
They were formed to serve the military originally, and they are used to dealing with all sorts of money situations long distance.

Last edited by misling; 07-09-2013 at 02:09 PM.
#29
Old 07-09-2013, 02:13 PM
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Originally Posted by misling View Post
I don't know if you feel like opening a different account, but USAA will accept money orders for deposit via mail and several other methods.
Go to USAA.com and search 'deposit money order' for details.

They are a very good credit union. I have always been more than happy with their service. And their phone support is excellent.
They were formed to serve the military originally, and they are used to dealing with all sorts of money situations long distance.
USAA's pretty awesome if you can get it, but not everybody can. (Every now and then I bug my dad (Vietnam vet) to sign up so that I can get an account with them, heh.)
#30
Old 07-09-2013, 04:55 PM
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Transferring money via paper can be a pain these days. I realize that OP's money order is not USPS, but postal money orders would seem to be very convenient. AFAIK, post offices all over the world accept each others' international money orders; the fees are very small; the purchaser can choose whether currency conversion is done at source or destination. (Thai post offices also accept Western Union money orders.)
#31
Old 07-09-2013, 05:10 PM
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Quote:
Originally Posted by robert_columbia View Post
One option could be to sign it over to a friend who has a bank account at a place that allows deposits of money orders, and have them pay you the funds in cash or a check that you can deposit.
Naw, even that doesn't work, I tried that for a friend, and my bank refused to accept a third-party check, even for deposit to my account, which had enough balance in it to cover it. I asked why, they said "It's our policy". I asked why they have that policy, they said "to protect you". I told them I'd sign a notarized statement that I assume all loss, damages or liability for it, and I was told "It's our policy", apparently only two answers in their mental rolodex.

It's even worse if its a postal money order. It can only be cashed at a postal station that keeps enough cash on hand to cover it. They won't even arrange to get the money if you tell them you will come back tomorrow.
#32
Old 07-10-2013, 03:42 AM
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If you know the person the check came from just ask them to pay cash, regular check or credit card (if you're set up to accept them and are willing to pay the fee). Or ask a friend of family bennet with an account to cash it for you then sign it over.

Or get a real bank account and stop fooling with a faceless Internet bank.
#33
Old 07-10-2013, 02:15 PM
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Originally Posted by MeanOldLady View Post
First when I lost my debit card and found out it would take FIVE business days to receive a replacement. Yikes! Five days access to my money?
I'm not positive a local bank would be any better in that regard. It seems like everything I receive from Wells Fargo comes from some out of state processing center.

Last edited by control-z; 07-10-2013 at 02:15 PM.
#34
Old 07-10-2013, 02:37 PM
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Originally Posted by dalej42 View Post
Do you have a brokerage account? The firm I work for, as well as most big firms, accepts money orders as a form of deposit. It won't be converted to cash, but you can, of course, request a withdrawal from the account once the money order is cleared. A bit time consuming, but there shouldn't be any fees involved.
I do not, but I suppose I can set one up. No worries if it's time consuming. I still haven't cashed this thing yet, which shows the kind of hurry I'm in. It is nice to know there are options other than giving some check cashing place half my money.

Quote:
Originally Posted by LawMonkey View Post
USAA's pretty awesome if you can get it, but not everybody can. (Every now and then I bug my dad (Vietnam vet) to sign up so that I can get an account with them, heh.)
My dad's a vet too. Woot!

Quote:
Originally Posted by control-z View Post
I'm not positive a local bank would be any better in that regard. It seems like everything I receive from Wells Fargo comes from some out of state processing center.
Yeah, but I could go inside a local bank and take money out. I can't walk into ING and request a withdrawal.
#35
Old 07-10-2013, 04:30 PM
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Originally Posted by control-z View Post
I'm not positive a local bank would be any better in that regard. It seems like everything I receive from Wells Fargo comes from some out of state processing center.
I have a friend who frequently loses their debit card and is a Wells Fargo customer. You can go to a Wells Fargo branch with ID and they will give you a temporary debit card. Then a permanent card will be mailed to you.

I am not saying that all banks work this way.
#36
Old 07-10-2013, 04:46 PM
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Originally Posted by control-z View Post
I'm not positive a local bank would be any better in that regard. It seems like everything I receive from Wells Fargo comes from some out of state processing center.
FWIW, Citibank sent my replacement ATM card via overnight courier (e.g. UPS). And Chase is aggressively advertising (at least in the NY metro area) that you can simply go into a branch and get a replacement card.
#37
Old 07-10-2013, 04:47 PM
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My credit union can top Wells Fargo, at least if you go to the right branch .

I went over there once with a dead debit card (my own fault, it had gone through the laundry. I've since found that a debit card will survive the washer, but not the dryer) and my ID. Twenty minutes later, I walked out with a nice new working card in my pocket. They didn't even charge a replacement fee.

Last edited by Seanette; 07-10-2013 at 04:47 PM.
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