Limit for a Personal Money Order?|
by Mary Beth Guard
Question: Is there a limit on the dollar amount a personal money order can be issued for? For some reason, we were thinking $2500.00, but weren't for sure if this was our bank policy or other.
Answer: There is no law or regulation that limits the amount of a personal money order. If you are using a third-party company (such as Traveler's) for your money orders, there might be a contractual limit. If not, it just boils down to bank policy.
The original version appeared in the June 2004 edition of the Oklahoma Bankers Association Compliance Informer.
First published on BankersOnline.com