Can you deposit money orders directly into a banking account?
Banks are governed by a regulation called Expedited funds availability act, or short name: Reg CC. Although the regulation has other purposes, what’s important to your question is that the regulation requires banks to make funds deposited into an account available within specific time frames and also requires a bank to disclose their policy on any holds placed, to the customer. Section 229.10 of the regulation state that cash, electronic payments (wire transfers, for example), cashier’s, certified and teller checks, along with government checks, such as U.S. Postal money orders, and state and local gov. checks, are to be available to the customer on the next business day. That doesn’t mean a money order bought just anywhere but a U.S. postal money order. If a bank receives information that a check has been stolen or is counterfeit, they can place a hold on it. If you deposit a check that is fake or bounces, you will be responsible for paying it back. That is also part of what the discl
