How can I turn my money into money?

December 9, 2008 6:24 PM

I have a money order. I don't have a bank account. How do I cash it?

I was sent money via MoneyGram today. I recieved it at the CVS down the block from me. When I've gotten money through MoneyGram in the past, it's been at a different location, and they've given me cash. The CVS apparently can only give money orders. The money is to get my car fixed, and it's the only MoneyGram location within walking distance of me. I don't have a bank account, so I don't think I can just cash it at a bank. There aren't any "check cashing" businesses near me. I also don't have money for a taxi to go to another location - at least, not until I actually get it cashed. Anyone have any ideas? I really need to get this figured out tomorrow. Help me, AskMe!

posted by clcapps to Work & Money (9 answers total)

I would suggest you at least try to cash it at a bank. If you have proper ID then they may do it for you. That is all that I can think of to do. And if they bank will not cash it perhaps they can tell you where it can be cashed. Sorry I can't be more definitive. Good luck.
posted by JayRwv at 6:35 PM on December 9, 2008

http://www.moneygram.com/MGIUS/ConsumerProductsandServices/MoneyTransfer/HowtoReceive/index.htm
posted by parmanparman at 6:48 PM on December 9, 2008

Sometimes banks will cash checks for non-account holders, but might charge a small fee. So it's possible.
posted by All.star at 6:51 PM on December 9, 2008

I don't know much about moneygrams, but our local wal-mart will cash paychecks for individuals who are using the check to make a purchase...so if you buy a loaf of bread or something, you can get the rest of the money on the check back in cash.
posted by mjcon at 6:57 PM on December 9, 2008 [1 favorite]

I'm guessing that there is a Reason you don't have a bank account. If that's not the case, many banks are doing free checking deals these days. I know that Bank of America is, for instance.

Can't hurt to open an account, get your money order cashed, and then continue life with the convenience of checks, a check card, etc.
posted by charmcityblues at 6:58 PM on December 9, 2008

Can you sign it over to a friend and have them cash it at their bank and then give you the cash?
posted by bowmaniac at 7:15 PM on December 9, 2008

Look on the money order and find out which bank the check is drawn on (small print). If it is a large institution near you (BofA, Wells, etc) visit a branch with two forms of government issued ID (non-expired) and they may cash it for you for a small fee. There is a chance they may not cash it for you if it is over a certain dollar amount. Alternatively, call Moneygram and ask them where you can go to get cash, as it is their service you are utilizing.
posted by Asherah at 7:40 PM on December 9, 2008

the short answer is to call a friend and ask if they can help you out via their bank accounts. give them five bucks for their trouble. it'll be cheaper for you than a cashing place would be.

next chance get a checking account. go to wamu, they are everywhere and those accounts are free. they also won't give a rats ass about your credit (=you just won't get any overdraft if it's too shitty). refuse the savings account if they want to charge you for having one. there is no downside to having this account and any i.d. is all it takes to open it up. I was even able to do so without a social security number by just using my passport back when I moved to the US.
posted by krautland at 7:46 PM on December 9, 2008

wow, that's kind of a ripoff at cvs--since you will probably have to pay a fee to get it cashed. maybe the car repair place will take it directly? also, maybe another moneygram center will exchange it for cash?
posted by lester's sock puppet at 12:54 PM on December 10, 2008