MoneyGram Money Orders With New Anti Mobile Deposit Language
A bit of bad news seems to be rolling out for MoneyGram money orders, which is the money order provider at Walmart stores. I have seen a few different reports of new verbiage on the back of the money order. It simply states that mobile deposits are prohibited. It doesn’t seem like this has been rolled out to all locations yet but I imagine it is only a matter of time before it is everywhere.
Not all banks allow mobile deposits of money orders, some require in person or ATM deposits. But for the people that use a banking establishment not near their house etc. this could be a big blow. If you are one of these people you may want to start looking into back up options to deposit yours in case the new verbiage hits a store near you.
This is of course assuming that the terms are actually enforceable. Maybe they are simply intended as a deterrent and not really enforceable? That is something I don’t know but I will say that I personally wouldn’t risk it. There is simply too much money at stake most of the time. It could also lead to future issues with your banking establishment.
Big thanks for the photo to Rick at The Saving Traveler.
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On my MO I got last night (11/1/20), it did not have this language
Has anybpdy attempted a mobile deposit with a Moneygram money order and had it returned or rejected since they started putting this verbiage on there product?
Yes, happened to me today! The problem are the banks, they are the ones that are telling you it’s ok, apparently not. More than 2 h. At Wal-Mart got my money back. Horrible experience! Bank did nothing, to inform me why the MO was returned.
Thanks for the update Stan
Has anyone found out if this is enforceable? I can’t find any terms on their website as to the actual penalty.
Kinda moot point for most of us. Out of my 5 banks only one accepts MOs through mobile deposit and that one rejects MoneyGram already (can’t read signature is the error).
I’ll be surprised if there are many affected but a big blow perhaps if you are. I love mobile deposit when it works.
True – I think most people will be okay but the people that used it I think it may be one of their only options and will be a big blow.
The Check 21 Act allows checks to be presentable to banks electronically. That’s the law that essentially opened the gates to mobile deposits.
I don’t see how this is enforceable.
That is kind of what I thought but wasn’t sure.