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How to cash a money order quickly and securely - Business Insider

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If you receive a money order, you'll want to cash it quickly.

You can verify your money order by calling the issuer at a number you've separately confirmed is legitimate.A money order is a method of sending money that's more secure than a personal check or cash.

"A money order is a method of sending a prepaid amount of money to somebody," explains Chane Steiner, CEO of. "It is considered very secure and is an excellent way to send money quickly in situations where a personal check is not appropriate. In some instances, money orders are even preferred to cash in hand."

Note that you don't have to cash a money order — you can also deposit it into a checking account, if you prefer.The first thing to do when you receive a money order is double-check its value to make sure the amount is correct; money orders are prepaid, so you should know in advance how much you're receiving. Also, make sure the name on the money order matches the name on your ID.

 

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