Money orders

[Mookow]

If you take a MO to your bank, will they give you instant usage of the new funds in your account, or do they make you wait a fews days for it to clear? Is a money order faster to clear than a personal check?

 

[minendo]

Originally posted by: Mookow
If you take a MO to your bank, will they give you instant usage of the new funds in your account, or do they make you wait a fews days for it to clear? Is a money order faster to clear than a personal check?

Depends on the bank. My bank always automatically provides me with the funds received in money orders. Others (do a search on AT) are not as lucky.

 

[Mookow]

Originally posted by: minendo

Originally posted by: Mookow
If you take a MO to your bank, will they give you instant usage of the new funds in your account, or do they make you wait a fews days for it to clear? Is a money order faster to clear than a personal check?

Depends on the bank. My bank always automatically provides me with the funds received in money orders. Others (do a search on AT) are not as lucky.

Which bank do you have?

 

[minendo]

Originally posted by: Mookow
Which bank do you have?

It is a local credit union for PU employees.

 

[imported_Mike]

I have washington mutual, and im almost certain it clears right away.

 

[erikiksaz]

Bank of America does instant cashing too.

 

[AnimeKnight]

wellsfargo give you instant cash too


but like someone says depends on your bank.. and according to a post yesterday it also depends on your account status. apparently he didn't have enough funds to cover for the money order and they had him deposited into his account.

 

[Mookow]

Originally posted by: AnimeKnight
wellsfargo give you instant cash too


but like someone says depends on your bank.. and according to a post yesterday it also depends on your account status. apparently he didn't have enough funds to cover for the money order and they had him deposited into his account.

Well, after some searching on ATOT, it appears if you take a MO to the post office, they will cash it on the spot. At least, according to RossMAN, and I trust his knowledge on this sort of thing

 

[edro]

http://forums.anandtech.com/messageview.cfm?catid=38&threadid=1046495

Here is your answer.... They should be Verified Funds, but the bank doesn't care. It cleared the following day though....

 

[Mookow]

Originally posted by: edro13
http://forums.anandtech.com/messageview.cfm?catid=38&threadid=1046495

Here is your answer.... They should be Verified Funds, but the bank doesn't care. It cleared the following day though....

Also in that thread is the post by RossMan about using USPS money orders and how they will cash them for you on the spot.

PS: which bank do you have?