Please tell me how long money orders are good for.

United States
March 3, 2007 8:00am CST
I have been finding ways to save cash. I find that I have better luck at putting my money in money orders. Signing them and putting it aside. I have been doing good at this savings solution. My only problem Is I don't know how long"money Gram" money orders are good for. Every time I go to buy another one I forget to ask. I have called and get no answer. Please help. Sharon
1 response
@Qaeyious (2362)
• United States
3 Mar 07
I would think a savings or money fund account would be a better way to save money, or purchasing US Savings Bonds or a CD (Certificate of Deposit, I think that stands for) at a bank. You have to pay for money orders, and they will never pay more than the original value. And if you lose it and don't have the serial number handy, it is gone. Western Union money orders do not expire, but if they are not cashed in three years there is an additional fee that will be deducted upon payout.
1 person likes this
• United States
3 Mar 07
Thanks so very much. I will buy western union money orders from now on. Oh I know the bank would be better for saving. I can't have over a certain amount in the bank. So it's better for me to just hold the money orders. At the end of july I'll deposit it to my acct then buy another money order for the total of all money orders. Sounds crazy right.. I am on ssi and want to buy a house in 5 years so I have to buckle down and save for the deposit. Along with any other blessing I luck up on.