Can You Cancel a Money Order?

Can You Cancel a Money Order?

Whether you can cancel a money order depends on whether it's been cashed. If the money order hasn't been cashed, you can typically submit a request to cancel, refund or replace it. The issuer will first verify that the money order remains uncashed. After verification, they may either refund or provide a replacement money order.

However, if the money order has already been cashed, it cannot be canceled.

How to Cancel a Money Order

If you need to cancel a money order, here are the general steps to follow:

1. Contact the money order issuer. This could be the U.S. Postal Service (USPS), Western Union, MoneyGram, a bank or a retailer. Many issuers allow you to start the process online or in person at the place of purchase.
2. Complete a cancellation or refund form. Most issuers require you to complete a form to cancel or replace the money order. Be prepared to provide your contact information, the money order's serial number, the purchase amount and the date of the purchase.
3. Show your receipt. Having the original receipt can speed up the cancellation process since the receipt includes details like the serial number and amount. If you've lost the receipt, you may still be able to submit a claim, but you'll likely have to complete additional steps.
4. Pay the cancellation fee. Most money order issuers charge a processing fee to cancel or replace a money order. The amount varies by issuer and may depend on the value of the money order.
5. Receive a refund or replacement. Once your request is processed, the issuer will either refund or issue a replacement money order. In some cases, you may receive a replacement money order instead of a refund, which you can endorse to yourself and cash it with the clerk.

Reasons to Cancel a Money Order

You might consider canceling a money order if:

• It's lost or stolen. Canceling a missing money order will prevent it from being cashed by someone else.
• It contains incorrect or missing information. Errors can prevent the recipient from cashing the money order. If you accidentally wrote the wrong name or missed some information, canceling and reissuing the money order can correct the issue.
• The payment is no longer needed. Canceling a money order allows you to recover your funds if you've changed your mind about the transaction or you've found another way to pay.
• The recipient didn't receive it. If the money order was mailed but not delivered, canceling it can prevent someone else from cashing it.
• You suspect fraud. If you think the transaction is a scam, it's best to cancel the money order immediately and request a refund.

Learn more: How to Fill Out a Money Order

How Much Are Money Order Cancellation Fees?

Money order cancellation fees vary by issuer. The fee may be deducted from the face value of the money order or charged separately when you make the request.

How Long Does It Take to Get a Refund or Replacement on a Money Order?

Getting a money order refunded or replaced can take several days or several weeks depending on several factors:

• Issuer
• Whether it's cashed or not
• Whether the money order is damaged, misprinted, lost or stolen
• Whether an investigation is required
• Whether you have the original receipt

Typical timeframes for major issuers are:

• MoneyGram: Seven days
• USPS: Up to 60 days
• Western Union: Up to eight weeks

What Happens if the Money Order Has Been Cashed?

If the money order has already been cashed, you generally won't be able to cancel or replace it. However, you may be able to check the status of the money order or get a copy of the cashed money order to see who endorsed it. This may help if you suspect fraud.

In cases of fraud or theft, the issuer may investigate and offer reimbursement. This is handled on a case-by-case basis and isn't guaranteed.

Learn more: Can You Buy a Money Order With a Credit Card?

How to Prevent Money Order Loss and Theft

While money orders are more secure than cash, they're still at risk of loss and theft. Follow these tips to protect your payment:

• Fill it out immediately. Write the recipient's name and address on the money order as soon as you purchase it. A blank money order is riskier because it can be filled out and cashed by anyone.
• Double-check the details. Make sure all the information is correct to avoid issues when the recipient tries to cash it.
• Keep your receipt. This helps you prove your purchase if something goes wrong and you need to make a replacement claim. Canceling your money order is more difficult without it.
• Use a trusted vendor. Buy money orders from reputable places like retail stores, banks, post offices and official MoneyGram or Western Union locations.
• Mail the money order securely. If you're mailing the money order, use a security envelope to hide what's inside. Consider sending it via certified email or with tracking for added protection and delivery confirmation.

The Bottom Line

Canceling a money order is possible in many cases, especially if it hasn't been cashed. Timing and fees are minimal if you have your receipt, but the process may take longer and cost more without proof of purchase. If you're paying with money order, make sure the transaction is legitimate to avoid scams. Protect your funds by filling out the money order right away, sending it securely and saving your receipt.