Buying a money order is simple. Money orders can be purchased at banks, drug stores, gas stations, even online. But while it's easy to purchase a money order, it's not always easy to determine the specific rules of usage. For example, although most money orders do not expire, some are issued with expiration dates. Some charge fees if the money order is not used within a specific time period.

Expiration
If you are the purchaser of the money order, you usually can determine whether the money order has an expiration date by contacting the place of purchase and asking about its policies. However, if you are the recipient of the money order, this is not always feasible. Check the front and back of the money order carefully. Often, an expiration date is printed directly on the money order. However, if there is no expiration date, the only way to determine whether the money order is still valid is to attempt to cash it as usual.

Fees
While some money orders do not expire, there may be fees accrued if the money order is not used within a certain time frame. This fee typically is not excessive, usually a few dollars, and is deducted from the face value of the money order when it is cashed. Additional fees may be charged for obtaining a refund or tracking a lost money order, but this depends on where the order was purchased.

The Bottom Line
Money orders purchased from the United States Postal Service, Western Union and larger banks do not expire. However, this is not the case with all money orders, as policies vary from company to company. Therefore, it is helpful to check with the place of purchase to determine whether the money order will still be honored.



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