Lost money order? Here’s what to do next
Quick insights
- You may want to contact your issuer when you realize you have misplaced your money order.
- You might be able to replace or get a refund for your money order, but this typically involves paying a fee and waiting for the issuer to complete an investigation.
- Writing the intended recipient's name on the money order may help prevent someone else from cashing it.
If you lose a money order, it might not be as significant of a challenge as you think. Knowing how to cancel a money order that has not been cashed may help you get a replacement or refund. Money orders are considered guaranteed funds, so you may want to act quickly. Once the order is deposited, it’s generally not possible to get the funds back.
Let’s examine how you might want to proceed after misplacing a money order.
Notify the issuer about the lost money order
If you lost a money order you received or one you purchased for someone else, it can be beneficial to start by contacting the issuer. They may be able to tell if the money order has been cashed or help cancel it before someone else cashes it.
Canceling the missing money order
If the issuer allows you to cancel the money order, these are the steps you generally follow:
Cancellation form
Your issuer will likely ask you to fill out a form, which will require you to provide details about the money order. Details needed to proceed include when and where it was issued, for how much and the tracking number. This information is normally found on the receipt, which might need to be attached to the cancellation form.
Cancellation fees
Issuers may charge a fee to cancel a money order. The fee generally varies based on the issuer and may be higher if you don’t have the receipt.
Replacing the lost money order
The issuer may investigate the missing money order and determine whether it has been cashed already. If they verify the lost money order wasn’t cashed, they may be able to cancel the original money order and send a new one for you.
Refunding the money order
If you'd prefer to refund the money order, the same fees and wait time for canceling will likely be applicable. You may be able to request a refund using a cancellation form, depending on the financial institution.
How long does it take to replace a money order?
Replacing a money order may take several weeks or months, depending on the issuer. It is sometimes possible to shorten the waiting time if you provide the receipt for your original purchase.
What if someone else cashed your lost money order?
It's not common for anyone other than the person listed on the money order to cash a money order due to requirements set in place by financial institutions. Money orders can only be cashed by the payee listed on the order, who must present a government ID that matches their name. The financial institution cashing the money order will verify the identity of the person and legitimacy of the money order.
But if someone else has cashed your money order, it may be challenging to refund or replace it because money orders are considered guaranteed funds. You may need to contact law enforcement to look into the details.
Preventing others from cashing your money order
Writing the recipient's name in the “Pay to” field on your money order may help prevent unauthorized individuals from cashing it. Furthermore, it might be beneficial to consider handing over the money order only to recipients you trust.
In general, if you receive a money order, it can be helpful to cash it as soon as possible. Delaying getting it cashed may increase the chances of misplacing it. You might also consider depositing the funds into your bank account to help reduce the chance of misplacing your cash.
In summary
It's possible to cancel a money order and either receive a refund or request a replacement. In both scenarios, there is generally a fee and waiting period for the issuer to investigate the status of the lost money order. Consider depositing your money order right away and keeping it on hand until you are able to.
