Most Bank of America users confuse a money order with a check, but they are different. A money order looks like a check; you can enter a specific amount to pay the receivers. It is a more secure mode of payment than a check. So, most recipients prefer money orders over checks because they are fast and won’t bounce.
The real question is whether the Bank of America lets customers deposit money order checks. Let’s clarify that they let you deposit the money order easily in two methods. You can either visit the nearest bank branch or the ATM.
However, only the users with a Bank of America account can deposit the money order. Bank of America won’t let you make the payment with a money order if you don’t have a checking or savings account. So, you must visit a Bank of America branch and open an account as early as possible.
Let’s learn the easy ways to deposit money orders in a Bank of America branch:
Who Can Deposit the Money Order at Bank of America?
Not everyone with a savings or checking account at Bank of America can deposit money orders. According to the Bank of America’s Deposit Agreement and Disclosure, the bank doesn’t check the money order’s authenticity when depositing it. Bank authorities only check if you have an account in their bank.
You can deposit a money order in your savings or checking account if:
- You are the money order’s sole owner, and no third party is involved.
- There is a sufficient balance in your Bank of America account.
If you fail to prove your identity, Bank of America won’t let you deposit the money orders. Hence, when visiting the bank, you must bring the necessary government-issued identification proofs.
Remember that Bank of America doesn’t immediately display the deposited fund’s amount on the transactions. So, you must wait 1-3 business days to see the money order amount after depositing it.
How Can You Deposit a Money Order at a Bank of America Branch?
You might need to find out where the nearest Bank of America branch is if you have recently shifted to California. Thus, you must check where the Bank of America is near your location. Open a web browser and write “Bank of America” in the search bar.
You will see where the Bank of America is near your house. Go to the nearest branch and ask the bank authorities the steps to deposit the money order in your savings or checking account. Bank of America’s authoritative person will take the money order and initiate depositing.
The bank authorities might deposit your money order in 10-15 minutes. You can use the funds through the Bank of America debit card. Moreover, Bank of America users can transfer the funds from the money order to their other accounts.
It is important to mention that Bank of America needs to clear on the same day of the money order deposit. Hence, you must visit the Bank of America branch the next day to withdraw the cash from your savings or checking account.
Can You Deposit the Money Order Using the Bank of America Mobile App?
Yes! You can deposit the money order using the Bank of America mobile app. However, many customers have encountered difficulties using this smartphone bank application. Some Bank of America users could not deposit money using the mobile app 2010.
The bank updated the Bank of America mobile app’s security and other internal features in 2012. Many users still experienced issues depositing the money order in Bank of America even after this.
But why did Bank of America customers need help depositing money using the mobile app? The bank stated that users encountered issues with the mobile app because it accepts only a few money orders. Moreover, not all money orders are compatible with the user’s system.
The Bank of America mobile app displays the “Cannot Read” message when depositing money orders. The bank claimed it occurred for 2 reasons – inadequate lighting and camera resolution issues. Capturing high-quality pictures in good lighting conditions can fix the problem.
Nowadays, the latest Android and Apple phones come with high-end cameras. They offer picture quality and clarity like digital cameras. Thus, you can use them to deposit the money order check easily from the Bank of America mobile app.
So, install the Bank of America mobile app on your device. When depositing the money order, ensure to connect the mobile device to a stable internet connection. An interrupted cellular or Wi-Fi connection can cause problems when submitting the money order documents.
How Long Does the Bank of America Mobile App Take to Clear the Deposited Money Order?
The Bank of America mobile app doesn’t display the amount you deposited through a money order within 24 hours. Sometimes, the bank might take 2 or more business days to add the amount. Contact the Bank of America authorities if they are taking 3-5 days to deposit your money order,
However, you must bring valid documents to initiate the claim in this bank. For instance, you must show the bank authorities the documents where the date of the transaction and the deposit amount is written.
Additionally, Bank of America users must carry the paperwork that supports their claim regarding the time of the transaction. Don’t uninstall the Bank of America app if it is causing issues with depositing the money order. Visit your nearby bank branch, and they will assist you with depositing the money order.
Can You Deposit the Bank of America’s Money Order in an ATM?
The advanced ATMs allow you to insert and deposit money order checks. Besides, you can deposit the money orders in your savings or checking account using an ATM. So, find the nearest Bank of America ATM to deposit your money order.
Insert your debit card in the Bank of America’s ATM slot and enter the 4-digit security PIN when prompted. An option list will appear on the ATM’s screen. Select “Deposit the Money Order through the ATM” using the control buttons.
Insert the Bank of America’s money order into the ATM’s deposit slot; that’s it. The bank usually takes 2 days to clear the money order you have deposited in the ATM. Contact the Bank of America’s customer support representatives if it takes longer to remove it.
How Much You Must Pay to Get a Money Order in Bank of America?
It will cost $5 to get a money order from the Bank of America. However, the cost might vary depending on the amount of money order you want to purchase. Thus, you must first check the amount of buying money order before filling it out with the required information.
You can use the money order to pay your monthly utility bills and send money to your friends and family. Moreover, you can use the Bank of America money order to make online purchases. It is one of the convenient ways to make transactions in multinational investment banks like Bank of America.