three years ago, i received four money orders for items, and my bank teller told me i could deposit them in my account. surprise, surprise, not only did i never receive the money, there was no record of that transaction.
Ever since then, I have only accepted US Postal money orders - but when I listed my last thirty items, I thought it was written in and it wasn't. The auction ended before I noticed this, and I have a different type of money order.
how do i cash a money order?
2007-07-07 06:00:56 · 8 answers · asked by Jim 7 in Business & Finance ➔ Other - Business & Finance
An answer to jess - I had lost the deposit ticket they gave me
2007-07-07 06:13:22 · update #1
To to the bank, it is like any other check, except that usually the funds are guaranteed. You may need to have an account at the bank, even if you cash it, so that if the money order comes back to the bank for non payment of funds, maybe it was not a real money order, they could take the money from your account.
2007-07-07 06:05:17 · answer #1 · answered by Sophiesmama 6 · 0⤊ 1⤋
Why didn't you ask me this personally?
I DO work at a bank after all...
The answer is actually not as simple as you have been lead to think it may be.
Since you received the money orders for items you listed on ebay or any other auction type website, the money orders themselves most likely won't be from any bank in your area.
If they are, you can simply take the money order to the bank in question, with your ID in hand, possibly another form of ID as well, and tell them you need to cash the money order.
Most times you will not need an account at the bank you are cashing the money order at because it is drawn off their bank and you wouldn't need an account to cash it.
If you have a bank account at any random financial institution, you should be able to deposit the money orders into your account without problems. Just to be safe, you could probably just cash the money orders and then deposit them into your account as cash.
Most times you can cash checks or money orders based on the available balance you have in your account.
Basically, if you have the same amount of money or more in your account as a check that you're cashing, then you should have no problems whatsoever.
As to where the money went from the first time you did it, you should investigate that with the bank in question. There should be no reason for them to not even have a record of the transaction, and I would advise you to take legal action if you are told otherwise. The only other thing that makes sense is that the teller that told you to deposit them into your account probably kept them for his or her damned self.
Because it should have been in your account no matter what.
Unless there was some kind of stop payment on those money orders, but you would have been notified of that.
With the money orders that you received, make sure you take copies of them before you do anything.
If they were to be "lost" again, you would need a record of it yourself in order to do anything else.
2007-07-07 07:13:31 · answer #2 · answered by Soul J 2 · 2⤊ 0⤋
Just take the money order to your bank and cash it against the funds you have on deposit for recourse. You can also deposit part and take the balance in cash. Keep all receipts until the funds are deposited to your account.
As far as the three year ago deposit, the teller could have traced the deposit or you could have gone back to the buyers to have the funds reissued. The teller would have been able to trace the records or have the back end accounting department do it at that time.
2007-07-07 06:06:59 · answer #3 · answered by Ginger 6 · 1⤊ 0⤋
Firstly, what bank deposits anything into your account without giving you a record of the transaction right then and there? Secondly, take it to the bank where you have an account and let them handle it while you stand right there and make sure everything entered is recorded and keep any and all receipts the teller hands you.
Money orders shouldn't be any harder to deposit than checks.
2007-07-07 06:07:31 · answer #4 · answered by Jess 7 · 1⤊ 0⤋
I've never had a problem depositing money orders into my bank account.
Perhaps you could cash it at the issuing company?
2007-07-07 06:05:18 · answer #5 · answered by Jeff the drummer 4 · 1⤊ 0⤋
Just deposit it into your account.
If there is a branch of the bank that issued the money order (written on the money order) they have to give you cash for it- account or no account.
2007-07-07 06:09:35 · answer #6 · answered by Anonymous · 1⤊ 0⤋
take your money order to the bank, they should cash it. if it's a postal money order, go to the post office.
2007-07-07 06:18:35 · answer #7 · answered by Ms Berry Picker 6 · 1⤊ 0⤋
try selling it for the money you bought it for at a yard sale
2007-07-08 02:48:44 · answer #8 · answered by Anonymous · 0⤊ 0⤋