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Banks that allow Money Order deposits via Smartphone or ATM(2017-2018)

Banks that allow Money Order deposits via Smartphone or ATM(2017-2018)

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Old Nov 8, 18, 1:47 am   -   Wikipost
Please read: This is a community-maintained wiki post containing the most important information from this thread. You may edit the Wiki once you have been on FT for 90 days and have made 90 posts.
 
Last edit by: soartoday
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This is a new thread for 2017. The previous discussion can be found here.



Banks that allow Money Order deposits via Smartphone

Allow MO deposits via Smartphone:
  • BB&T. $1,000 per day, $3,000 per month. WU works fine. Doesn't seem to take MG.
  • Charles Schwab, depending on account up to 10k/day (While they allow MOs, their app may not be able to read all MOs. MG only work with dark printouts.)
  • Citadel FCU: normally works great with WU, but only do one deposit, small amount first time to test. Increase deposit amount slowly, and do not exceed 2K daily or they may call you and ask what you are doing, or freeze account. Very fraud-conscious at this CU. MO funds avail. within 24 hrs. Apparent $10K/mo limit.
  • Citibank (500 first 6 months, 1500 thereafter) Citibank does not allow MoneyGram mobile deposits and most ATMs reject the MO.(Ref)
  • Clearview FCU
  • DCU - works, reports of shutdown for MS specific behavior (depositing Money Orders) start in March 2017 (Ref, Ref, Ref posts 99 and onward)
    clears immediately (Ref). Very finicky that the MO be filled out completely and the back is endorsed "for deposit only DCU".
  • Everbank ($50K per day total, no check bigger than $50K) (but see report of shutdown
    Ref)
  • NorthePointe bank. 10 day hold per new accounts <30 days old.
  • Penfed. $5K per day limit. WU works fine. A portion of deposit may be held back for a few days. Doesn't seem to take MG (amount entered doesn't match amount detected error message).
  • Simple* (March 2014: People now receiving emails asking source and purpose of MO deposits) (Ref)
    15 photo deposit per month and $3000 per deposit (first 5 are limited to $2000). Robust MO reading (Ref)
  • SunTrust Only seems to accept WU, posts next day if in before 9pm.
  • United Bank
  • UFB Direct
    prefers MoneyGram MOs; WU MOs work fine also. Will Shut down. (Ref)
  • USAA (Ref)
    May be limited to $1k/day available immediately (Ref), with remainder held for 1 week. User experience: $5k/day. One person reported shutdown after a few months, doing less than 5K mo in MO deposits.(Ref)
  • Wells Fargo
    $2500/day $5000/mo ($1000/day $3000/30days for new accounts < 180 days) (Ref)
    user experience: multiple <=$500 (Ref); WU MO (Ref)

Do not allow MO deposits via Smartphone:
  • Ally
  • Amalgamated Bank (cannot deposit MOs via mobile app)
  • Aspiration
  • Bank of America
    Not reliable MO reading (Ref)
    Effective 2/23 BofA no longer accepts mobile deposits of MOs or TCs. (Ref)
  • Bank of the West
  • Barclays. The terms state MOs are not allowed. MG worked twice but not again!
  • Capital One 360 (won't accept MO via mail in deposit either)
  • Chase
  • Discover Checking* (NUMEROUS REPORTS MONEY ORDERS ARE NO LONGER ALLOWED); user experience: <2k (Ref); 2 days to post (Ref); terms do not explicitly state a limit (Ref)
  • Eastern Bank. $2500 per day, $7500 per month. Update 3/22/16: Per chat, Eastern no longer accepts MO over Mobile Deposit
  • Fidelity MySmart Cash
  • Fiserv-based credit unions
  • Fulton Bank
  • LMCU Will shut down MO deposits for high volume.
  • Navy Federal Credit Union
  • PNC (Ref)
  • Radius Bank: Mobile deposits no longer allowed
  • Santander: MG and WU are a no go
  • TIAA-Direct (3 checks per business day, $10K per day) No longer viable after calls by Candy in Sep 2014.
  • Vanguard

Allowed Via ATM:
  • BoA - may be deposited at ATM (Ref)
    (Ref)
  • Bank of Oklahoma (BOK)
  • Cambridge Savings Bank (Boston MA area) - accepts MoneyGram at ATM, haven't tested others yet, fund post in 1-2 business days, automatic detection doesn't usually work (have to edit the check amounts) (ref)
  • Capital One Bank/360 - automatic amount detection for Western Union, posts within 1-3 days; Auto detects MoneyGram if the ink is dark enough, available next 1-3 days (Mar 17 Ref); USPS accepted, but not auto detected, available 1-3 days (Mar 17 Ref).
  • Chase - about four days to clear (Ref) (Ref)
  • Citi
    Haven't been able to successfully deposit Western Union but MoneyGram usually works. No longer works, have to deposit with teller.
  • Citizens: ATM will automatically detect amount as long as ink isn't faded; if read incorrectly or not at all you can manually edit amount
  • Huntington
  • KeyBank: Will accept Western Union money orders. Refuses to accept MoneyGram (from WM) money orders. Recent 2016 reports of problems and risk of shutdown if
  • M&T Bank -- can deposit MoneyGram, but you have to enter the amount manually.
  • PNC Bank: ATM will automatically detect amount as long as ink isn't faded; told by teller that ATMs have no problems accepting MO deposits
  • TD Bank
  • USAA
  • US Bank, can deposit MoneyGram, but you have to enter the amount manually.
  • Webster Bank - accepts MoneyGram, need to enter amount manually, funds available next day (Ref), same with USPS Money Orders (Ref) and Western Union
  • Wells Fargo accepts MoneyGram
  • going over even just a few thousand a month.
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Old Jan 10, 17, 8:54 pm
  #16  
 
Join Date: May 2015
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If one part looks altered its not a far stretch to think the whole thing may have been tampered with.

Most banks/cu's have an online deposit, scan it and do it that way.
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Old Jan 11, 17, 8:33 am
  #17  
 
Join Date: Oct 2011
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Originally Posted by RamboAroundTheWorld View Post
the app read it fine. The federal reserve returned it saying it was "altered".
Federal reserve? I've never heard of that. The MO backer will either pay your bank or they won't. Don't know why the Fed would ever get involved for a check.
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Old Jan 11, 17, 9:16 am
  #18  
 
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Originally Posted by Superorb View Post
Federal reserve? I've never heard of that. The MO backer will either pay your bank or they won't. Don't know why the Fed would ever get involved for a check.
The Federal Reserve Banks provide check collection services to depository institutions. When a depository institution receives deposits of checks drawn on other institutions, it may send the checks for collection to those institutions directly, deliver them to the institutions through a local clearinghouse exchange, or use the check-collection services of a correspondent institution or a Federal Reserve Bank. For checks collected through the Federal Reserve Banks, the accounts of the collecting institutions are credited for the value of the checks deposited for collection and the accounts of the paying banks are debited for the value of checks presented for payment. Most checks are collected and settled within one business day.

The number of checks written nationally has been declining since the mid-1990s as the use of electronic payment instruments has grown. In addition, the Check Clearing for the 21st Century Act (Check 21) removed barriers to the electronic collection of checks and electronic check collection has now become the primary method for collecting checks. Indeed, almost all checks processed by the Reserve Banks today are deposited and presented using the Reserve Banks’ electronic check collection services. These changes have enabled the Reserve Banks to reduce their national check-processing infrastructure so that, since early 2010, they have been processing paper checks at one location nationwide, down from 45 in 2003.

https://www.federalreserve.gov/payme...heck_about.htm
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Old Jan 11, 17, 9:36 am
  #19  
 
Join Date: Oct 2011
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Huh, interesting. Thanks for the read.
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Old Jan 11, 17, 12:17 pm
  #20  
 
Join Date: May 2015
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Simple sent a message in my account that they will no longer accept mo deposits.
Oh well, on to the next one.
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Old Jan 11, 17, 12:29 pm
  #21  
 
Join Date: Sep 2014
Location: NYC
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Originally Posted by oopl View Post
Simple sent a message in my account that they will no longer accept mo deposits.
Oh well, on to the next one.
Hmm they just accepted mine last night. What was you deposit amount and frequency like?
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Old Jan 11, 17, 1:21 pm
  #22  
 
Join Date: Jun 2011
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Tech Credit Union

Any data points about Tech CU like if MO are allowed and limits?
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Old Jan 11, 17, 6:02 pm
  #23  
 
Join Date: Nov 2014
Posts: 77
Nothing but problems, problems, problems with Citibank! First I get my account locked for adding my card to Apple Pay. Once I clear that up they lock online/mobile app access account until I stop by a branch (45 min away from me). Today I deposit my first MO using the mobile app and within an hour later I can't sign on to the mobile app and no information is showing up on my online account. I just got off the phone and they say it was flagged for fraud because they couldn't read the MO and I need to wait 5 business days before they send the money back to the MO. It's safe to say I'll be closing my account next week. On to the next one!
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Old Jan 11, 17, 7:15 pm
  #24  
 
Join Date: Sep 2015
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Originally Posted by cuthroat View Post
Nothing but problems, problems, problems with Citibank! First I get my account locked for adding my card to Apple Pay. Once I clear that up they lock online/mobile app access account until I stop by a branch (45 min away from me). Today I deposit my first MO using the mobile app and within an hour later I can't sign on to the mobile app and no information is showing up on my online account. I just got off the phone and they say it was flagged for fraud because they couldn't read the MO and I need to wait 5 business days before they send the money back to the MO. It's safe to say I'll be closing my account next week. On to the next one!
You simply can't deposit MOs into your Citi bank via mobile or even ATM; going through a teller is the only way.
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Old Jan 11, 17, 8:11 pm
  #25  
 
Join Date: Nov 2014
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Wiki needs to be updated then.
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Old Jan 11, 17, 9:30 pm
  #26  
 
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Originally Posted by Amex For Children Of Africa View Post
Hmm they just accepted mine last night. What was you deposit amount and frequency like?
Slowly ramped up to maybe 5 MO a week.
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Old Jan 11, 17, 9:31 pm
  #27  
 
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Originally Posted by Java Cool Dude View Post
You simply can't deposit MOs into your Citi bank via mobile or even ATM; going through a teller is the only way.
Citi works with WU MOs for me, did not have success with MG MOs.
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Old Jan 11, 17, 9:41 pm
  #28  
 
Join Date: Sep 2014
Location: NYC
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Originally Posted by oopl View Post
Slowly ramped up to maybe 5 MO a week.
Oh well that makes a lot of sense. I thought the most you could do with them(recommended) is 1 a week. You def pushed the limits with them. It's too easy of a route so I'm going to keep it small there.
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Old Jan 12, 17, 10:40 am
  #29  
 
Join Date: Nov 2016
Posts: 28
Quick question about Max amount

What's the Max amount that I can deposit MO into bank??
is it every bank has different requirement?
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Old Jan 12, 17, 11:14 am
  #30  
 
Join Date: Sep 2015
Location: Los Angeles
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Updated the Wiki to reflect the situation with Citibank and mobile deposits of MG MOs.
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