Western Union money orders offer a secure alternative to paying by check. The purchaser goes to a Western Union agent and pays cash for the money order, which in turn can be cashed at any bank or Western Union location. The fees for purchasing a money order vary by location. So do the maximum amounts that can be purchased, though as of publication no agent can write money orders larger than $1,000 per U.S. regulations.
Money Order Basics
To cash your money order, you'll need to bring identification such as a driver's license or passport. Any bank should be able to cash one, whether you have an account there or not. Alternatively, you can cash the money order at a Western Union agent location. Because the amount on the money order has already been funded, there's no hold on the funds as there would be for checks. As a result, you'll get your money instantly. If you lose the money order, you can get your money back, though doing so is not free. Western Union charges a $15 nonrefundable processing fee if you kept your receipt. If not, the cost is $30.