Let’s say you were cleaning out your dresser and you found a misplaced cheque that your grandmother had sent you for your birthday, as well as a two-year-old money order. While you’d normally be elated about this surprise windfall, you’re a little less thrilled to learn she sent it over a year ago. Can you still cash this cheque or has it expired? What about the money order? Learn about cheque expiration dates and whether money orders expire.
What’s the difference between a cheque and a money order?
A money order and a personal cheque are similar forms of payment; they’re both paper documents that act as forms of payment, but they differ in that a cheque—whether it’s from an individual or a business—is tied to a bank account, and its ability to be used for payment is dependent on whether that account has enough money in it.
A money order is guaranteed to clear because the amount is prepaid by its purchaser. It isn’t tied to a bank account, so it can be useful when a personal cheque isn’t an acceptable form of payment or when you don’t want to risk sending cash through the mail.
Can a cheque expire?
In Canada, most cheques are considered stale-dated after six months, unless it’s a certified cheque or from the Government of Canada. When a cheque is stale-dated, that means it’s considered old, but that doesn’t necessarily mean that it’s invalid. Your bank may still cash or deposit the cheque. However, they aren’t under any obligation to do so because the account of the person who wrote the cheque may not have the funds to cover the amount.
Can a money order expire?
While a cheque can become stale-dated after six months, a money order doesn’t expire. The funds for the money order are secured in a separate account until they’re negotiated or used.
Where and how can I get a money order?
In Canada, most people secure money orders from the bank they regularly use, but these are waning in popularity due to the rise in e-transfer payments. Western Union offers money orders across Canada for a nominal fee, in addition to the amount you’d like the money order for. The process of getting and sending one is relatively straightforward:
- Find your closest Western Union agent location. Because you’re ordering something physical and may need to prove your identity, you cannot send money orders online.
- Bring a government-issued ID, though you may not be asked for it unless you’re purchasing multiple money orders that exceed $3000. The maximum amount for a single money order is $999.99.
- If you’re sending a money order to another person, you’ll need to supply that person’s name and be prepared to pay for the order and any fees with a debit card or cash. You cannot pay for a money order with a credit card.
- You’ll receive a receipt for your money order that contains a serial number and a tracking number. Hold on to this receipt so you can reference it if something happens, and you need a refund. If you’ve lost a money order, you can use your receipt to determine if it’s been cashed. If you were the recipient of a money order and lost it, contact the sender so they can get their money refunded.
- To cash a money order, simply bring it to your closest Western Union location, your bank, or a Canada Post location and present a valid government-issued photo ID.
Western Union Alternatives to Cheques and Money Orders
While a money order is incredibly useful if you need to move money around but can’t use cash and don’t want your personal information attached, there are other ways to send money, especially internationally. There are a few ways to receive money with Western Union, too.
Western Union makes it easy to send money from Canada to just about anywhere with transactions that are convenient, secure, and trackable. Visit a physical agent location near you, use our website, or send money with the Western Union mobile app.
