How long does it take an out-of-state money order to clear?
It may clear within as few as one or as many as several business days, depending on how far away the money order issuer is from the bank taking the money order for deposit, and on how it is routed to the paying bank, whether physically or electronically. The depositary bank has to provide access to the amount deposited by the second or fifth business day after the money order is deposited. That means it could take a week. If the bank gives you a notice that it's placing a longer hold, it could delay your access to the funds until the eleventh business day after deposit, usually fifteen calendar days.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
It may clear within as few as one or as many as several business days, depending on how far away the money order issuer is from the bank taking the money order for deposit, and on how it is routed to the paying bank, whether physically or electronically. The depositary bank has to provide access to the amount deposited by the second or fifth business day after the money order is deposited. That means it could take a week. If the bank gives you a notice that it's placing a longer hold, it could delay your access to the funds until the eleventh business day after deposit, usually fifteen calendar days.
