Yes, you can deposit a money order at an ATM. However, not all banks and ATMs support this.
Received a money order on a weekend? Then you might be wondering, can you deposit a money order at an ATM?
Yes, it’s possible. However, it can get quite complicated. That’s why in this post, I will simply explain, can you deposit a money order at an ATM? If so then how, where, the fees, and everything related to them. So, stick here.
Let’s start by finding out, can I deposit a money order in my bank account.
Check out where can I cash a money order for free
Can You Deposit A Money Order at an ATM
Yes, it’s possible to deposit a money order at an ATM.
Money orders are widely accepted for sending money and receiving payments on an individual level. That’s why most banks cash money orders physically. Most of the time they do not charge any fee for this from their customers.
Like checks, most banks also offer money order deposits at ATMs too. For this, you must have a savings or checking account with the bank. Moreover, you need to find out an ATM which have a deposit feature. Because not all ATMs have a deposit option.
One easy way of finding an ATM with a money order deposit is, finding an ATM with a check deposit. Because money orders and checks are equally treated by banks in most instances.
But before making a deposit please make sure your bank allows money order deposits at ATMs. Because some banks do not offer this service.
Can You Deposit a Money Order at an ATM Without a Bank Account?
No, you can not deposit a money order at an ATM without a bank account. You must require either a checking account or a savings account to ATM deposit a Money order.
ATM deposits of checks and money orders usually require a bank account or a debit card. Because banks need to verify the money order and the user identity and then provide cash. Moreover, most ATMs don’t even provide instant cash.
Once you have deposited the money order with your account number. The money order gets taken to a bank branch, gets verified then the money order amount is added to your bank account. So, without a bank account or card, it’s not possible to detect who deposited the money order.
As a result, you can not deposit a money order at an ATM without a bank account. However, some Western Union or Money Gram Kiosks let you cash money orders instantly and you don’t need a bank account. So, in case you do not have a bank account then you can try these.
By now we have found out the answer to can you deposit a money order into an ATM. But how do you deposit a Money order at an ATM.
How To Deposit a Money Order at an ATM
Depositing a money order is similar to depositing a check into an ATM. Here is how to deposit a money order at an ATM
- First, find out if your bank offers money order deposits via ATM or not.
- Then go to an ATM that supports ATM deposit.
- Insert your debit card and enter your PIN.
- Select the “Deposit” option.
- Tap on the “Money Order” option.
- Type in the amount of the money order.
- Endorse the back of the money order by signing it.
- Insert the money order into the ATM’s deposit slot.
- Review the deposit information and confirm the deposit.
- Lastly, collect the deposit slip and keep it until the money gets added to your account.
Once the money order is verified by the bank the money will be added to your account. It can take up to 3-5 days. In case you use a kiosk then you will get instant cash. How much does an ATM deposit of Money Orders cost?
How Much does an ATM deposit of Money Orders Cost
The best thing about money order deposits at ATMs is there are no fees. Because most banks allow free bank deposits. However, some banks might still charge a small fee for depositing a money order depending on their policy.
But there might be ATM fees when you try to cash out the money order amount via ATM.
By now we have found the answer to Can I deposit a money order at an ATM? Now let’s look at some of the related queries.
FAQs
Here are some of the Frequently asked questions related to this topic.
Can I Mobile Deposit Money Orders?
Yes, you can mobile deposit money orders via the mobile app or ATM. However, not all banks allow this. So, be sure to check in with your bank beforehand.
Can You Deposit a Money Order In an ATM Bank Of America?
Yes, you can deposit a money order in an ATM of Bank of America. You can also use the mobile app to deposit it.
Can You Deposit A Money Order In An ATM Chase?
Yes, you can deposit money orders in an ATM at Chase. They accept money orders from any provider but it must be payable to US dollars.
In Summary
Depositing money orders at an ATM is a convenient way of cashing money orders for free. However, in most cases, you won’t get instant money. So, if you need money quickly then get avoid ATM deposits. Lastly, please keep the deposit slip with you it will be needed if something go wrong.
