If you’ve ever used a money order, you know it’s a secure way to send and receive money. But what happens if you don’t cash it right away? Do money orders expire? And how long does a money order last before you run into complications?
These are common questions, and the answer can depend on a few different factors—including where the money order was purchased, who issued it, and how it’s being used. This guide breaks it all down so you’ll know what to expect and how to avoid losing your funds.
What Is a Money Order?
Before we dive into expiration dates, let’s take a moment to understand what a money order is. A money order is a prepaid payment method that works like a check, but it doesn’t draw from a bank account. Instead, you pay upfront with cash or debit, and the money order is issued for that specific amount.
Because of this prepaid structure, money orders are widely used when:
- The recipient doesn’t accept checks or credit cards.
- The sender doesn’t want to carry or mail cash.
- You need to make a secure payment and track it.
Popular issuers include Western Union, USPS, and various financial institutions.
Do Money Orders Expire?
In most cases, money orders do not technically expire, but that doesn’t mean you should wait forever to cash or deposit them.
Each provider has its own policy on how long money orders remain valid. Some impose monthly service fees if the money order is not cashed within a certain period. These fees are deducted from the original amount, which means your money order could eventually lose value—even if it doesn’t expire outright.
How Long Money Orders Last from Each Provider
Here’s what you should know about how long money orders last, depending on where you bought them:
1. Western Union
Western Union money orders do not expire. However, after one to three years, depending on the state laws and location, a monthly service fee may be deducted from the original amount. That means if you wait too long, the value of the money order could be significantly reduced.
2. USPS (United States Postal Service)
USPS money orders never expire and never lose value. Even if it’s been sitting in a drawer for 20 years, you can still cash or deposit it as long as it hasn’t been altered, damaged, or previously cashed.
3. MoneyGram
MoneyGram money orders generally do not expire. However, if you don’t cash it within one year, a service fee will be deducted monthly from the remaining balance until it’s used or voided.
4. Bank-Issued or Other Providers
If you purchased a money order from a bank or local provider, their rules may vary. Some may set a hard expiration date or begin deducting monthly maintenance fees after a set period.
How to Check the Status of a Money Order
If you’re unsure whether your money order is still valid, here’s what to do:
- Check the issuer’s website to find expiration or fee policies.
- Contact customer service using the contact info on your receipt.
- Use tracking tools—many issuers allow you to enter the serial number online to check the money order’s status.
Always keep your receipt when you purchase a money order. It includes the serial number, date, and purchase location, which you’ll need if the money order is lost, stolen, or needs to be refunded.
What If You Lose a Money Order?
If you lose a money order or it’s damaged, you can usually request a cancellation and refund—but there are a few things to know:
- You’ll need the receipt and money order number.
- The refund process may take 30–60 days.
- There is usually a nonrefundable processing fee, often between $15–$30.
This is why it’s important to cash or deposit money orders as soon as possible. Delaying not only increases the risk of misplacing them but could also cost you time and money in the long run.
How to Avoid Losing Value on a Money Order
To make sure you get the full amount of the money order, follow these tips:
- Cash it or deposit it promptly—within 1 year is a good rule of thumb.
- Store it securely if you need to hold onto it temporarily.
- Track it if you’re mailing it or handing it off to someone else.
- Use a trusted issuer and keep documentation of the purchase.
When possible, let the recipient know that money orders may lose value if not used quickly. This is especially helpful if you’re giving one as a gift or making a delayed payment.
Don’t Let a Money Order Sit Too Long
So, how long does a money order last? In many cases, money orders remain valid indefinitely—but that doesn’t mean they retain their full value forever. If you wait too long, you might face service fees that reduce the payout. Worse, you could lose track of it entirely.
If you’re unsure or need to check the status of a money order, it’s always best to contact the issuer directly. And if you need to send, receive, or cash a money order today, visit your local West Suburban Currency Exchanges location.
Our team is here to help with money orders, check cashing, foreign currency, and more. Stop by and take care of everything in one visit.
